Republicans Evade Responsibility & Rewrite History

[Joanne98]

Run time: 10:00 https://www.youtube.com/watch?v=FbbNSKgc5Dk   Posted on YouTube: March 10, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: March 11, 2009 By DU Member: Joanne98 Views on DU: 534

 

Very good points.

[mikekohr]

1. Democratic Economic Record versus Republican

THE PARTY WITH THE BEST RECORD OF SERVING REPUBLICAN ECONOMIC VALUES IS THE DEMOCRATS, AND IT ISN’T EVEN CLOSE!” -Michael Kingsley-


1). FEDERAL SPENDING: since 1960 Republicans increased Federal Spending by 71% more than have Democrats

2). FEDERAL DEBT: since 1960 Republicans have increased the National debt by 100% more per year than have Democrats.

3). GROSS DOMESTIC PRODUCT: since 1921, adjusted for inflation, Democrats out-produce Republicans by 43% . Starting in 1940 the Democratic advantage is 23% better.

4). REAL PER CAPITA INCOME: since 1960 Democrats have outperformed Republicans by 30%. (This is perhaps the most important economic statistic of all)

5). INFLATION: since 1960, Democrats outperform Republicans 3.13% to 3.89%

6). UNEMPLOYMENT: since 1960 it decreases in an average Democratic year by 0.3% to 5.33%, and increases in average Republican year by 1.1% to 6.38%.

7). JOB CREATION: from 1945 to 2003, Democrats produced 174,200 jobs per month, Republicans have only produced 60,600 per month. Every time a Democrat succeeds a Republican, job creation soars. Every time a Republican succeeds a Democrat job creation plummets. NO EXCEPTIONS!

8). DOW JONES AVERAGE: since 1921 the DOW has increased by 52% more under Democratic administrations

9). THE BOND MARKET: since 1940 the value of 10 year Treasury bonds rose 1.2% under Democrats and fell 0.5% under Republicans


SOURCES-Bureau of Labor Statistics, Economic Policy Institute, Christian Science Monitor, “The Los Angles Times -Michael Kingsley-

by mike kohr 3/7/2006

RESULTS MATTER, VOTE DEMOCRATIC!

[mikekohr]

2. A HISTORY OF RECESSION IN THE UNITED STATES 1950 TO 2008

Written by: mike kohr 2/12/2008

There is a pattern here that is plain to all but the most partisan. Nine of the last ten recessions have occurred under the direction of Republican economic policy. And history does repeat itself. Look at the three greatest slowdowns in US economic history, 1929*, 1982, 2007, all three were attributed to poor economic and tight credit policy, all three featured deregulation and lack of oversight of the financial markets, and all three were presided over by a Republican President.

Recession of 2007-present George W. Bush(R) Greatest downturn since 1929, blamed on lack of regulation of financial markets and collapse of credit markets

Recession of 2001 George W. Bush(R) Began in April of 2001, marked the beginning of greatest deficit spending in all of recorded human history

Recession of 1990-1991 George H.W. Bush(R) Deregulation of Savings and Loan industry led to a collapse and panic, which led to election of Bill Clinton, who produced the greatest increase in jobs and wealth in all of recorded human history

Recession of 1981-1982 Ronald Reagan(R) At the time, the most severe contraction of economy since the Great Depression, massive deficit spending/deregulation of markets, and tight fiscal policy in an effort to kill inflation were blamed for this downturn **

Recession of 1980 2nd & 3rd quarters Jimmy Carter (D) Shortest and least severe slow down, generally attributed to Iranian Revolution and increase in oil prices, led to the election of Ronald Reagan

Recession of 1973-1975 Richard M Nixon(R) OPEC’s increase in oil prices and massive spending in the escalation of war in Vietnam led to stagflation, the second economic crash of Nixon’s administration

Recession of 1969-1970 Richard M. Nixon(R) Credited to Nixon’s escalation of and massive spending in Vietnam War and OPEC’s increase in price of oil

Recession of 1960 -1961 Dwight D. Eisenhower(R) Noted for high unemployment, low GDP, high inflation JFK ended the recession by stimulating the economy 10 days after taking office

Recession of 1957-1958 Dwight D. Eisenhower(R) Eisenhower achieved the dubious distinction of achieving a second economic downturn on his watch, a record later matched by Richard M. Nixon, and George W. Bush

Recession of 1953 Dwight D. Eisenhower(R) Increased outlays to National defense and restrictive credit policies blamed for this downturn
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*The Great Depression of 1929 Herbert Hoover(R) Lasted for 10 years, blamed on Hoover’s economic policy and lack of regulation of financial markets
** “The Reagan Recession” which ran from the 4th quarter of 1981 thru the 1st quarter of 1982 is often categorized as starting under Carter’s watch during the 2nd & 3rd quarters of 1980. By the end of the 3rd quarter of 1980 that brief recession had rebounded. Starting in the 4th quarter of 1980, 3 of the next 4 quarters produced increased GDP. Reagan’s tight fiscal policy and massive deficit spending contracted the economy again in late 1981, producing unemployment of 10.8% and prime interest rates that hovered between 15% and 20.5%

http://recession.org/history
http://en.wikipedia.org/wiki/List_of_recessions
http://www.sjsu.edu/faculty/watkins/rec1980.htm
http://en.wikipedia.org/wiki/Economic_history_of_the_United_States#Deregulation:_1974.E2.80.931992

Based on the economic record of the last 58 years, when a Republican is elected to the White House, there is a 100% chance that the economy will slide into a recession and a 50% chance that two or more recessions will occur.
Not a single Republican member of Congress voted for President Obama’s 2009 Economic Stimulus plan. The “Know Nothing” Republican Party has a long history of saying no. Not a single Republican House member voted for the creation of the Social Security System, or for the creation of Medicare, the two most successful poverty reduction programs in US history. That’s not all they said no to.

Bill Clinton’s economic stimulus plan of 1993 produced the greatest wealth and job creation in all of recorded human history. Clinton’s economic plan reduced the National Debt by $587 billion, and balanced 5 yearly budgets, exactly 5 times as many balanced budgets as produced by the last five Republican presidents -combined-.
Not a single Republican House member voted for it.

Here’s what they had to say about Clinton’s Stimulus plan of 1993:
From the Files by David Waldman
(Congress Matters, February 15, 2009)

Rep. Dick Armey (R-TX), CNN, 8/2/93:
“Clearly this is a job killer in the short run…The deficit will be worse,...”

Rep. Newt Gingrich (R-GA), GOP Press Conference, House TV Gallery, 8/5/93:
“I believe this will lead to a recession next year.”

Rep. Deborah Pryce (R-OH), 5/27/93:
“(This) will lead to more taxes, higher inflation, and slower economic growth.”

Rep. Jim Bunning (R-KY), 8/5/93:
"It will not create jobs."

This from the same crowd that gave us 9 of the last 10 recessions. Wrong then, Wrong today.