In what fantasy world is the American economy better now than it was 8 years ago?

Question

Directed mainly towards Bush supporters:

The facts:
Gas prices have tripled since 1999 (anyone who has paid for gas in 1999 and today can verify that)

Health costs have gone up double digit per year since 1999

The government added nearly 4 trillion to the debt under
Bush (source..Dept of Treasury..bureau of public debt)

We're borrowing and spending hundreds of billions on that sandpit Iraq..

Osama bin Ladin is still alive and so is Al Queda (recent generals report on Al Queda)

Unemployment was lower in 1999 vs today (Dept of Labor statistics)

Wages were higher on an inflationary basis during the 1990s
http://www.epinet.org/content.cfm/webfeatures_snapshots_20060111


..These are all facts that can be verified through government reports...so if you even say its wrong..you're basically an ignorant moron who has no use for facts.


So really..how can anyone say that the economy is better in the 2000s vs 1990s? Prove it.

Answer 1

I guess in the modern politicians world, Bush's more than anyone's. In 1977 I made $5.50 an hour, gas was under $1 and a home could be had for under $50K. 30 years later $10 an hour is like the Holy Grail, a home cost upwards of $200K and gas is ~$3. That explains the sub-prime and real estate fiasco. Let's not forget easy credit. That's the only way $10 an hour or vast majority of people can afford anything.
With stats like these the economy can't be good. Look at corporate earnings most are from overseas. The dollar is weak as hell so all we can afford are cheap imports if that after buying gas and I seriously doubt the unemployment figures. On top of that America borrows billions daily from China to service the debt Bush ran up and oddly Bush bad mouths the Chinese while asking for money.
As a financial Analyst the numbers from the government just do not add up.
This reminds me of Nazi Germany and The Falkland Island crap. When things go south start a war and since Americans love to fight, hate to lose but love religion we are seriously misguided and easy prey for a politician with a flag, Bible and an M16.
As a nation Christian Conservatives need a new strategy other than:
Praise the Lord and Pass the ammunition!!!

Answer 2

Well, in that particular world Record Corporate Profits, the highest corporate profits to fail to result in an increase of General Prosperity, means an Economic Paradise. Who cares if the percentage of Americans below the poverty line is steadily increasing and bankruptcies have increased in every year of the Bush Administration.

That and Record High Stock Prices. Never mind that merges and buybacks have substantially reduced the number of available shares. Ok, so the actual total ammount of money in the Stock Market may be down a little--But the Dow Jones is doing great!

And look what Bush has done for Big Religion! Bad times for the folks are good times for the Churches. The more helpless and hopeless peopel feel, the more they fill the pews and the collection plates!

Just because the Economy sux for most folks, don't mean it's bad for the People Who Count.

Answer 3

I personally made a lot more money during the Bush years, but that was because of my career path more than anything else.

Some people have said that the economic situation is different because of the war. But that's not the same as saying that the economy is better - it's an explanation of why it may not be.

I have long asked for an objective, comprehensive set of criteria for judging a nations' economy. If there is a good site for that I'd be happy if someone posted it.

I honestly never did the comparison myself, or seen one from a source I was 100% satisfied was objective and comprehensive. That's my shortcoming - I should find out more!

And what concerns me most now is what effect the policies of the next Democratic and Republican nominees will have on the issue. What will their programs be? For better or worse, neither Clinton or Bush will be on the ballot.

Interesting topic!

Answer 4

Another fact you left out is that the dollar has lost 46% of its value on the international currency market since 2000. In 2000, the dollar was worth 1.35 Euros. Today it's worth only .72 Euros.
This devaluation is the main reason big business is reporting increasing earnings. The currency they earn in other countries is buying more dollars in the currency exchange.
This explains why big international American companies are doing so well, and the personal income of individual Americans is doing poorly.
This is also the reason for the high Dow average. With the dollar so low, foreign investors are buying up American stocks because the exchange rate makes them cheap. This increased investment drives up stock prices.
The fact is, we have been in an inflationary cycle since 2001. Even with gas prices skyrocketing, the government won't admit it. Oddly, the Federal Reserve has been keeping interest rate high for over 2 years because of inflation.
The fact remains, you have lost 46% of the buying power of your dollar since 2001. Have you had a 46% increase in your earnings during that time?

Answer 5

What an absurd statement but very typical of the myopic and unfocused reasoning of the socialist democrats!
Over the last 4 years, the US has averaged 3.5% annual GDP growth, which is exactly at the long-term trendline. The unemployment rate is lower than it has been for 35 of the last 38 years, with seven million jobs being created in the last 3 years alone. What is remarkable is that in this period, a number of factors that have caused recessions in the past have occurred, even as new negative forces have simultaneously emerged, and all these in tandem have not derailed economic growth.
In the 70's, crude was $90.00 per barrel and now in the $60.00 range, how can you with a straight face make these damning statements without realizing that the oil companies are the ones taking advantage of you!!
Just typical leftist, socialist rants that have no basis in reality!
I don't know where you get your data, but if you do a little more research, I know you will find the facts!
Try looking at the stats from the DOL! (thats the Dept. Of Labor)
http://www.bls.gov/cps/

The unemployment rate during the first 7 years of Clinton's presidency averaged around 6.55%, it didn't start to decline until the public and business realized that he would be history in a few months!!

Answer 6

thumbs up their asses. They take the two least reflective ways of measuring the economy and tell us that like a broken record.
"SQUAWK! UNEMPLOYMENT IS DOWN"
yeah, so what. i know i could not afford to live on my own with a full time job that paid 9.15/hr with a car payment and all other expenses. how the hell are minimum wagers gonna?
"SQUAWK DOW IS UP!"
who really has any stock in the market besides rich people. and if the market has gone up, why has my mothers retirment stock plan lost 7thousand dollars in the past 6 years? REAL ******* GREAT.

But forget about the rest of the US. like the house market is in the dump. Or gas is still rising, or heath insurance premiums are going up. and the finial nail in the coffin for me is, why the hell are we borrowing so much dammed money to fund the war in Iraq? not only that, but EVERY SINGLE PUBLIC SERVICE IS BEING CUT IT'S FUNDING SO WE CAN FIGHT THE WAR. http://www.costofwar.com/
I am a police officer. Most of the departments are now not running road patrols and only going out of the station to go on calls because they cannot afford the gas. most of the money they would get has been diverted to the War. And bush has the balls to cut taxes? He is the worst kind of leader. he so vigorously finds reasons to go to war, but avoids the responsibility of responsible funding by cutting taxes and borrowing money.

wow, great economy.

Answer 7

ROFL Don't you know that's what the media has been pushing down our throats for years now?? WE ARE BETTER OFF NOW THAN WE WERE UNDER CLINTON

Funny, but I'm just not getting it. My cost of living increase has not been able to keepup with gas and oil prices.

BUT THE TV SAYS WE ARE ALL BETTER OFF!!

LOLOLOLOL War Economy

Answer 8

It just seems like they are just going by a high Dow Jones number. If I talk to people about the economy they talk about how the price of everything went up at the same time and working 2 jobs just to make ends meet. Not to mention job loss at some recent point. I just don't see what they are saying about a "good" economy.

Answer 9

In the fantasy world of conservative ditto heads, they believe the economy is better because Rush tells them to believe the economy is better.
Clinton left office with a budget surplus while Republicans spent billions of taxpayer dollars 'investigating' his sex life.
In 2006, the top 300,000 wage earners in the U.S.A. (1/10th of 1% of the total population) earned more collectively than the bottom 150,000,000 (50% of the total population). In the world of those 300,000 people, everything is better!
Even hogtied by a Republican-led Congress, Clinton managed to manage this country better than his conservative opponents could. Bush's runaway spending for an immoral, unjusifiable 'war' and the Republican-led Congress that allowed him to run rip shod over our U.S. Constitution has put taxpayers in debt to the tune of TRILLIONS of dollars, which will take generations to pay off (if we ever can before the Chinese take over). -RKO- 07/26/07

Answer 10

Fantasy Football.
That has taken off in the past few years.