...it is all about the price of gas. Did you know that every recession in the last 30 years followed two successive yearly increases in gas prices? Every one, except one.
And that one time it did not happen? Well, that was in 2003 to 2004. And what is it that prevented such a recession? Well, "It's the economy stupid" as Bill Clinton would say. That's right, the economy continued to grow...why? Because of the Bush tax cuts.
Roger, most Americans like you...know little to nothing about economics and simply buy the politirxians. And the Dems use people like you a unwitting pawns all the time. It is time people learn the truth or you can continue to be used as unwitting pawns.
You keep telling yourself you are right. I will tell you this...go back and research what the government did in 1929 to 1934. As things stareted to recover after the 29 crash, the Dems raised taxes on those making over 100,000 a year then, far fewer than who Obamba and the Dems want to hit now. They also started fooling with trade and began charging tariffs on 59,000 items kicking off a trade war around the world. The economy worsened for another decade.
Obama is in a good sport right now. Gas prices have come down and so the economy will recover within the next year due ot the lower gax prices. But it won;t be because of Obama, it will be because of gas prices. If he gets his way and convinced the Dems to raise taxes on the top and raise capital gains and starts folling with trade, and the eoncomy does not recover, then we will have our answer there.
The only things presidents can do to affect an economy is sign bills passed by Congress to change tax codes, inject government money and mess with trade which msut be authorized by Congress. Beyond that,there is nothing they can do. So everyone can complain about Bush all they want. The reality is, America has done great considering 9/11, the largest increases in the price of gas ever and increased global competition. Just a shame Americans are too stupid to not see thorugh all the Politrix.
Data for your to review:
Year Gas Pump Prices - Yearly Average Adjusted for Inflation (2006 $) % change
Recession start Recession end
April 1960(II)
1970 1.44 NA December 1969(IV) November 1970 (IV)
1971 1.43 -0.01 -0.69%
1972 1.34 -0.09 -6.29%
1973 1.4 0.06 4.48% November 1973(IV) March 1975 (I)
1974 1.76 0.36 25.71% November 1973(IV) March 1975 (I)
1975 1.79 0.03 1.70% November 1973(IV) March 1975 (I)
1976 1.76 -0.03 -1.68%
1977 1.75 -0.01 -0.57%
1978 1.65 -0.1 -5.71%
1979 2.09 0.44 26.67%
1980 2.63 0.54 25.84% January 1980(I) July 1980 (III)
1981 2.64 0.01 0.38% July 1981(III) November 1982 (IV)
1982 2.3 -0.34 -12.88% July 1981(III) November 1982 (IV)
1983 1.98 -0.32 -13.91%
1984 1.93 -0.05 -2.53%
1985 1.85 -0.08 -4.15%
1986 1.42 -0.43 -23.24%
1987 1.4 -0.02 -1.41%
1988 1.38 -0.02 -1.43%
1989 1.43 0.05 3.62%
1990 1.55 0.12 8.39% July 1990(III) March 1991(I)
1991 1.58 0.03 1.94%
1992 1.47 -0.11 -6.96%
1993 1.6 0.13 8.84%
1994 1.55 -0.05 -3.13%
1995 1.55 0 0.00%
1996 1.63 0.08 5.16%
1997 1.62 -0.01 -0.61%
1998 1.4 -0.22 -13.58%
1999 1.61 0.21 15.00%
2000 1.93 0.32 19.88%
2001 1.85 -0.08 -4.15% March 2001(I) November 2001 (IV)
2002 1.68 -0.17 -9.19%
2003 1.99 0.31 18.45%
2004 2.25 0.26 13.07%
2005 2.24 -0.01 -0.44%
2006 2.81 0.57 25.45%