Has Bush Destroyed Our Economy?

Question

According to news reports we are heading for a recession. But we do not need the media to tell us becausde we know it. My neighbour's homes have been reposessed, they cannot meet the mortgage repayments.Unemployment is on the increase.A Third of our economy is financing War. $2Trillion to be exact. While property's in freefall slumped by 30%. What's going on ? Thousands of our troops have been sent home in body bags always in dead of night they don't want to publicise the increasing Iraqi death count. Hundreds of thousands of innocent Iraqi civilians have been slaughtered and for what? Oil Green and Dollars. Meanwhile Cheney is smirking all the way to his offshore account to the tune of $1Billion from the sale of his Haliburton Shares! If that is not blood money I don't know what is. How can they sleep at night while our young men and women die as their kids part in Palm Beach and the Hamptons not the hell hole that is Basra
http://www.counterpunch.org/roberts01102006.html

Icon ..'Economy doing great'?? yeah right, keep taking the medication. What planet are you on?

'thegubmint' or should I call you Cheney??. Send me proof that the former Vice Prez's $1Billioon blood money Haliburton profit went to charity.

Maybe his own personal charity in the Cayman Islands perhpas :)

truthisback Wake Up! Of course the fact that Bush spends $2.5 Trillion annualy on Iraq has a knock on effect on the economy. That is a Third of our economy!! Jobs are effected.

We are buying less because we have less money in our pockets, therefore it effects the economy and the job market when businesses go bust.

Naplusultra..you say the 'war is over' So why have more troops been returned home in body bags since 'Mission Accomplished' was declared three years ago. Why are at least 50 pople being killed daily in iraq and the country in chaos?, with people living in fear of their lives, without jobs, electiricty or running water. So much for the 'war being over'.

http://biz.yahoo.com/ap/070726/wall_street.html?

This latest financial headlin proves my point. The economy is in freefall. The Dow is down 30%.

Answer 1

The economy is going great if you earn over 6 figures and have lots of money in the stock mkt. The rich could not be happier with the economy. Unemployment is low, but people are earning so little money they are working 2 jobs to pay the bills. The economy could not be worse for the average person. Costs are ever increasing for gas, food, etc. and people can't pay their rent. Bush has totally succeeded with the economy, the rich are very happy and who cares about the average guy.

Answer 2

Get a few more facts next time before you start your rant. You are lumping things together that don't belong.

Do you really know why your neighbors are losing their homes. Probably because they didn't get enough info on the type of loan they took out or they bought above their means. Either one has nothing to do with the economy per se.

The hundred of thousand innocent Iraqi's are being killed by their own people not the American troops and likely would be regardless of our presence. You should listen to some actual stories from real soldiers about what they see instead of what the liberal media is choosing to show and cram down our throats.

Answer 3

I have personal experience with a couple that is foreclosing. A nice house with 75% of it's value in a mortgage. They decided to upgrade the house, laying a very expensive driveway, deck and pool, expensive fence to surround the property . Large screen tv as a second tv. {a small example of massive spending} The spending was endless. Two home equity loan to cover all this spending. A third home equity loan to pay off a 20G credit card debt, (which is now over 50G after paying off the 20G}. Not all foreclosures are a result of a bad economy. This couple knew what they were getting into with each new loan applied for. To them keeping up with the Jones' was more important than their future, and their children's future.

Stop blaming everything on the government. People have free will to spend within their limits, or as the couple above to spend money they don't have. We all have a choice.

Answer 4

Nice rant. Your neighbor's home was probably repossessed because they bought more than they could actually afford and financed it with a 100% no down ARM that has now adjusted up. Unemployment is not on the increase, it's actually slightly down, and well down on the historical scale. A third of the economy is not financing war. While it has cost a lot (roughly $400,000,000,000 at the moment), it is not even close to your wild number. Property values go up, they go down. Real estate bubbles are nothing new. This one too shall pass.

Cheney's finances are fully disclosed. His Halliburton shares have been directed to charity, something you probably know little about.

Answer 5

ROFLMAO!!!

Unemployment is still well below 5%...which is considered FULL EMPLOYMENT!

Repossessions are happening not because of a bad economy, but because of bad loan programs and loan officers putting people into programs that they have no business in.

Property values have not dropped except in few select areas. There are slightly fewer homes selling, but many more on the market, so it looks like they are not selling. In most of the country, home values are still rising, but not as fast as they were. Falling 30% my @ss! Perhaps the 30% reduction you read about is that we are seeing 6% appreciation instead of 36%.

We have seen unmatched economic growth, the dow has hit record levels. YEP!!! Must be a recession! What kind of mind numb liberal thought is that????

The rest of your rant is not about the economy, but about the war, so I will not even respond here.

You are hillarious. "We are buying less because we have less money in our pockets" The trouble with that statement is that WE ARE BUYING MORE! You are absolutely blinded by liberal propoganda!

Answer 6

Mostly, borrowing and credit has destroyed our economy in the uk. People want it all and they want it now. The demand for housing in the uk has increased due to population increase and demand, so house prices have gone up above inflation, whilst wages have remained low. it was never sustainable- each consecutive government gives us the same problem- it always crashes in the end. A house in my street went up by £100, 000 over the last 8 years- was £90,000, now selling for £190,00.

Blame the war on Bush and Blair and on deaths on all sides, blame the cost of the war on not having so many funds available for the nhs or education, but Bush is not responsible for our economy.

Don't consume any oil or oil based products such as plastics (that's why we're in Iraq- to keep the oil supply stable)

Answer 7

Bush did no longer destroy our financial device, yet he's not harmless, the two. He merits *a minimum of* a small bite of blame for the financial disaster, using fact he has had 8 years to pay attention approximately ongoing issues (from his very own team and from Wall highway super wigs) and react to them. For Iraq, i'm surprisingly lots confident he merits all the blame.

Answer 8

You say yourself, "According to news reports we are heading for a recession.". One, it happens every few years or so, the economy is cyclical. In other words, it's perfectly normal as it fluctuates regularly. Two, holding Bush himself and only himself accountable is completely ignorant and isn't worth arguing. Two, go ask the boys down on Broad Street at the NYSE how the economy is doing. Last I checked it was doing pretty damn well.

Answer 9

Hi, sorry but the war is over. notice your home has not being repossessed. so the economy must work. Everyone is entitled to a rant and rave but why do it on answers?

Answer 10

Are you serious? Unemployment is 4.5%, which is historically low and extremely low when you're at the peak of the interest rate cycle.

Please don't try to lump the war with the economy. The war is the war and the economy is the economy. The war is going poorly. The economy is doing just fine, especially considering where we are in the Fed cycle.