Who's recession?

United States
March 3, 2009 7:03pm CST
While listening to far right wing hate radio, I have heard numberous commentators calling our current economic crisis the "Obama Recession". The fact of the matter is that our current economic recession started in December 2007, long before Mr. Obama was elected president. Can anyone explain to me why in 2001 republicans called the current economic recession: "Clinton's Recession" (This recession started in November of 2000, the same time Bush was elected). But, eight years later they insist that a man who has been in office for just over a month caused a recession that started over a year before he was elected. Please help me understand this logic, or lack there of.
1 person likes this
5 responses
@xfahctor (14128)
• Lancaster, New Hampshire
4 Mar 09
It started under bush (though the seeds were sewn long before, bush just watered and fertilized them) but Obama is president and it's his now, he bought it, he owns it. Now what he does will mean everything and his legacy, so far, everything he is doing is going to drive it to a depression, if he doesn't turn us in to an unsoviergn, global socialist pathetic shell of what we were and an abomination to everything our founders stood for.
1 person likes this
• United States
6 Mar 09
Obama walked into office during a recession, much like Bush did. I wouldn't start talking legacy after ONE MONTH in office. But, it is vital to conservatives to see Obama fail, if he doesn't the conservative movement will be just a memory. In 1993 Clinton took a country in recession, and grew the economy while balancing the budget. Bush's economy was not as strong as Clinton's, and he left office with a record deficit, and the economy in a recession. If Obama can bring the Bush economy back to life, and grow the economy while cutting our debt, it will prove once and for all that conservative ideas don't work. Now do you understand why Rush wants Obama to fail?
@xfahctor (14128)
• Lancaster, New Hampshire
7 Mar 09
you just can't get past that party ideology can you? "Bush balh blah blah" "Obama blah blah"
1 person likes this
• United States
7 Mar 09
X, would you vote for a party that can't control spending, can't grow the economy, and who believe that war is the only way to stay in office? This is your current republican party. These are facts X, and facts don't lie.
@matersfish (6311)
• United States
4 Mar 09
It's just the nature of the beast. You can't stop it now. Once a new President gets in there, it's his mess. It's always been that way and it always will be that way. But, as long as people want to put a date on the recession and claim that it's Bush's, let's not be picky and choosy with our history. This problem has been brewing for years - even before the recession Reagan dealt with. So much pressure was being put on lenders to lend and creditors to credit. This isn't nor wasn't a Bush/conservative/republican thing. When Bush and McCain finally called for regulation, they were silenced by house liberals. This stuff is common knowledge at this point. We all know - even if we all won't admit - what made this happen. We all also know that insane standards put on the Big-Three, topped off with their insatiable greed, caused them to start floating in the fishtank. The current recession isn't Obama's doing, just like it wasn't Bush's doing. But once they're in office, it's their mess. Just how it goes. They're the fall guys. Don't worry, though. Obama never misses an opportunity to blame it on the Bush administration. So as far as most liberals are concerned, it's 100% the fault of George W. Bush -- so it shouldn't matter if anyone else claims it's now Obama's, right? After all, it's not about who's right. That's pretty much proven by the media's (all media's) selective amnesia. It's only about what you're willing to believe. America the tragic. :-)
1 person likes this
• United States
6 Mar 09
Mater, there are many parties to blame for our current economic situation. I do agree that Bush and McCain saw this coming, but can you show me one time when they presented a bill to regulate the mortgage industry? Can you also show me where Bush and McCain did anything to stop this coming when both talked about this in 2005. Just to remind you, republicans controlled the entire government in 2005, and could have passed a bill adding more regulation to the mortgage industry. So why didn't they do something instead of just talking about it? One of the other people to blame for our mortgage problems is the greatest economic mind of our time: Alan Greenspan. Alan Greenspan said infront of congress that the mortgage industry had to come up with ways for people to get mortgages. He said that ARM's, and interest only mortgages would increase the amount of homeownership, and help grow the economy. I bet you won't hear that on Rush, or Hannity, but it is a fact. If you remember, or want to look up on the internet, during Bush's first term Bill Clinton was blamed for anything, and everything. Bush has left the country in an economic mess, and it will take years to fix it. But, I am sure that if he does turn it around, conservatives will give Bush all the credit. Weren't you talking about the media's selective amnesia? That does go both ways.
• United States
6 Mar 09
They (the republicans) were told that it was going to be fine. And truthfully, in context, everyone - all of us - believed that. We had bigger fish to fry as a country when Bush first called for regulations. He, and the rest of the entire country, trusted that things were under control. Fast forwarding to the time McCain called for regulation, it had already started to spiral out of control. Even still, there were voices saying, "No. It's fine... really." I'm not saying that they're not to blame at all. IMO, every politician in the country is to blame on some level. I was only making the point that it's not "Bush's" mess. Just as I said that this recession isn't Obama's, either. I'm not blaming anyone - I'm blaming everyone! It wasn't simply a Republican problem. That much I know. But when it comes to the current President being blamed, that's just how it goes. And the comment about working both ways with the media's amnesia: I don't understand? I said ALL media. "All" implies "both ways" are already covered. Sorry if I'm misunderstanding your point. Clinton (lol): When was he being blamed and by whom? I know that 2 terrorist attacks happened on Clinton's watch; yet when 9/11 hit, nobody ever blamed Clinton for not doing more. Nobody's blaming him still. Especially Bush. I think Obama could take a lesson from that and stop pointing the finger. Maybe some guys like Rush Limbaugh were blaming Clinton for various things. I never heard it coming from the Bush administration, however. And I don't recall much of the media being biased (for either side) back then like it is now. It was some years ago, but I recall the news in America being rather fair a decade ago.
2 people like this
• United States
4 Mar 09
It's called 'passing the buck'- and its sad but true that TRUTH does not come very high up on the list of important things to politicians. Whose fault is it??? Well, in the long run its our own fault. We want this that and another thing and don't have the money so we buy on credit. We are encouraged to do that. So many people that I know personally have played the 'credit card dance', switching loans [and that's what it is people, loaned money, at a high interest] from one card to another. I don't know if all of us coming to our senses and buying with-in our means would help the economy now or not. But it would for sure help the individuals. Nope, it's not Obama's Recession,-----and personally I think its world wide depression.
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@cher913 (25890)
• Canada
4 Mar 09
well, i think that it started well before obama, but it just seems to have come to a head currently. like Johnson inherited the Vietnam war (it started in the 1950's and came to head during the late 60's) obama inherited the current recession.
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@TLChimes (4842)
• United States
4 Mar 09
The folks who finally got around to calling it a recession were doing so in the weeks before Obama took office. They also had it going back a year. So how does that make it Obama's? Heck if I know. http://en.wikipedia.org/wiki/Late_2000s_recession ***Just for those who need it not a referral link*** It won't be his Depression either because he isn't working alone... I think the house, senate, congress, and the state leaders are equally involved in the ups and downs.
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