A Few Dates You Should Share With Republicans

obamasmilingIn my experience debating with Republicans, it doesn’t seem many know how to read a calendar.  I constantly see them blame things on President Obama which happened before he took office.

On that note, I decided to throw together a few dates Republicans should know, since they seem confused about exactly when a lot of this stuff happened.

  • George W. Bush was in office from January 20, 2001-January 20, 2009
  • June 7, 2001 the “Bush Tax Cuts” were signed into law
  • 2002 our nation records its first budget deficit in 4 years
  • May 28, 2003 Bush signs into law a tax reduction policy which drastically reduces dividend and capital gains taxes
  • In December 2007 the Great Recession starts
  • September 2008 Lehman Brothers sinks, triggering a complete panic in the financial industry, deepening our recession
  • October 3, 2008 the TARP (Wall Street) bailout is passed
  • The country lost 3.47 million jobs from July 2008-January 2009

Then Obama took office

  • February 2009 stimulus bill passed
  • May 2009 national job losses reduced by more than 50%
  • June 2009 the recession ends
  • March 2010 the current streak of 37 consecutive months of private sector job growth begins
  • May 2, 2011 President Obama orders the killing of Osama bin Laden
  • 2011 Forbes reports a new record for number of billionaires (1210) and their combined net worth ($4.5 trillion)
  • February 2012, 2 years after Obama’s auto bailout, General Motors announces record profits
  • December 2012, corporations report record profits
  • Spring 2013 the stock markets sets multiple new records

Now I know these aren’t all of the key dates, but it’s a good collection of facts Republicans seem to get a little confused with.

I can’t count how often I’ve heard some conservative say “tax cuts create jobs,” except they led us into our worst economic collapse in nearly a century.

How many times I’ve heard some right winger say “Republicans are fiscally conservative,” except it took Bush just one year to record our first budget deficit in 4 years.

Then the best one—they blame Obama for an economic collapse that began well before he ever became President.

So please, I encourage you to share this with your Republican friends.  Maybe together we can help them better understand how calendars work.

But I won’t hold my breath.

Allen Clifton

Allen Clifton is a native Texan who now lives in the Austin area. He has a degree in Political Science from Sam Houston State University. Allen is a co-founder of Forward Progressives and creator of the popular Right Off A Cliff column and Facebook page. Be sure to follow Allen on Twitter and Facebook, and subscribe to his channel on YouTube as well.

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  • David Groh

    Those tax cuts of 2003 and the recession 4 years later is a mirror image of tax cuts of 1925 and the great depression that started in 1929.

    • Shhhhh! The Republicans hear that and they’ll want to end this recession the way of another world war, just as the Great Depression was ended on the economy of American building war machines for other countries in WWII. Building our economy is the right way, but not with war, that has only made this recession worse.

    • John Gavel

      Thats why its good individuals like you refuse the bush tax breaks and pay the proper rate…..

      • Sieben Stern

        your mistake is thinking that the tax breaks on the middle and lower class can make a difference when compared to the top earners and companies hiding assets and dodging taxes. but don’t let facts interrupt your snark fest.

      • John Gavel

        Hahaha ohhhhh, we are seeing how those tax increases are offsetting the deficit- another trillion this yr right? Whatd obama say- more revenue will be required- so much for taxing the 1%

      • You can’t just go and tax people willynilly… you need to impliment a system.. which is what has been done.

      • John Gavel

        ? They raised the taxes on top earners no problem?

      • A question mark goes after a sentence… you’re not helping your cause….

        Top earners are being taxed more on their pay rate. They haven’t been able to touch capital gains yet, which is the big problem,for the afformentioned reason that: repbulicans are refusing to vote on things they should have already voted on.

        Taxes have been reformed across the board on pay rate, because you can’t single out one group of people.

      • Mary Elizabeth

        If the wealthy were taxed according to income rates like the poor and common citizens are, would that not provide more revenue to the government? That’s just common sense coming out, excuse me if it doesn’t belong in government policies. 😮

      • John Gavel

        Tell that to my boss who is paying a ridiculous tax rate, not to mention lost tax breaks on student loans, etc. everyone needs to stop acting like the greed of a select few is how everyone who is successful operates

      • I don’t get a tax break on my student loans and I’m paying 25%… I’d be willing to bet if your boss knew what he was doing he’d be able to pay far less than that.

        :Edit: In fact… I had to pay taxes on my grant money.

      • John Gavel

        You better talk to the person who is filing your taxes, and you can talk to that accountant about how the top earners are being pinched

      • John Gavel

        tudent Loan Interest Deduction

        You may be able to deduct interest you pay on a qualified student loan. Generally, the amount you may deduct is the lesser of $2,500 or the amount of interest you actually paid. IRS

      • Mary Elizabeth

        I don’t recall saying “everyone,” and you’re talking like the tax payers choose how to pay their taxes rather than the government choosing for them. If that’s the case, I’ll just not pay mine! Woo, money!!

      • Sieben Stern

        lol what tax increases on the 1%?

        get them back to FDR levels and then we’ll talk.

      • John Gavel

        Why, because they are successful they should pay more? Thats a real incentive

  • Cat in the Flat

    Unfortunately being open to the truth of the matter is not an option for the Republicans I know. It happens to be rather sad…and scary.

    • John Gavel

      Has GM repaid its loan yet? So much for record profits. Recession ended in 2009? Thats interesting

      • Kolkrabe

        It will take time for them to repay that loan, obviously. Record profits definitely help that process along. 😉 The recession did end, but Republican bologna for vacations when we need to set budgets on a deadline isn’t helping us stay in the clear.

      • John Gavel

        Ohh i guess i like many other americans have not noticed the “end” of the recession- things are only getting tighter. As for GM- hope they werent relying on the volt to pay back the loan- that seems to be a prettty big flop

      • Vrals

        You obviously don’t know the definition of a recession, it is when Real GDP is falling. You find Real GDP by taking the nation’s Nominal GDP and dividing it by the Consumer Price Index (CPI).

      • John Gavel

        Pretty sure economy shrank last quarter, first time since 2009 (recession yr) but thats sandys fault right?

      • Kolkrabe

        Again, when the Republicans want to take vacations ON the deadline their decisions are to be made and other bologna methods of dragging out processes to get what they want rather than help their government, that’s what you get.

      • But the stock market’s doing well, the top earners are doing well – are you suggesting that *gasp* TRICKLE DOWN ECONOMICS AREN’T TRICKLING DOWN?

        ….. WELL DUH. That’s what we’ve been saying for years.

      • John Gavel

        Wasnt Obama going to change all that? Yes we can?

      • Yes we can… with the proper votes… that people are avoiding…. He’s not a dictator, he’s a president.

      • I’m not sure where you’re living, but the Volt, Spark, and Sonic are all over the place in cities an suburbs in the North East

      • John Gavel

        Chevy volt is losing thousands on every sale, not to mention the recalls on the battery. Dodge dart is also a huge flop, selling the number of units in a yr as civic does in a month

      • I didn’t say anything about the dart there, chief. No need to vote my comment down because I stated a fact that you don’t like.

        Cars have recalls. It’s a fact. It happened with my 98 Econoline, and my father’s TOYOTA Prius. They happen… and if you could provide proof that the volt is losing that much money, I’d like to see it.

      • John Gavel

        Haha, well you see, dodge also got bailout money and has not repaid its loan yet. As for the “voting your commenting down” dont be upset i hit it while scrolling on my phone. Chevy volt is losing thousands on every sale, think i read somewhere upwards of 49k- but what do i know

      • Please present the facts so I can take you seriously.

      • John Gavel

        “Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts. GM on Monday issued a statement disputing the estimates.

        Cheap Volt lease offers meant to drive more customers to Chevy showrooms this summer may have pushed that loss even higher. There are some Americans paying just $5,050 to drive around for two years in a vehicle that cost as much as $89,000 to produce.” Reuters

        Go ahead, do alittle DD yourself- google chevy volt losing money, while you are at it- google how the dodge dart is doing compared to its competition

      • Kolkrabe

        I will gladly give up a little money we didn’t even have in the first place in order to have rights that we wouldn’t have right now if Romney won the presidency with all those Republicans in the government seats right now backing him up. No one could predict the issues coming from these car sales right now. For awhile hybrid cars like that were becoming more popular, and they anticipated that the trend would continue to grow but it kind of didn’t, and rather than electricity running cars, other alternative fueling methods like ethanol or mixed fuel are still more popular because they do cost less.

      • John Gavel

        Give up money we didnt even have in the first place? haha wowwwww. Never expecting to pay back the loans huh? Is that how you live your life?
        You really think a split congress would allow romney to take away your rights? get real man, thats like everyone saying obama is going to do the same- pffffffff

      • Romney donated millions to the Mormon church, which they turned around, and used to fund the Prop 8 ad campaign… so yeah… our rights would have been taken away.

        Or do gay people not have any rights?

      • John Gavel

        man of science defending gays- interesting? next you will tell me you believe in evolution
        “romney donated millions” of his money? he is free to do that right? what about individuals who donate to the catholic church? what about jewish people who make generous donations? muslims? they all have a stance on gay marriage you know?

      • Right but they didn’t all run for president on the platform that gay folks shouldn’t be married… Mittens did.

        And you’re aware I said a man of SCIENCE… not Scientology, correct?

        I’m beginning to think that you’re just spewing words to keep yourself entertained.

      • John Gavel

        Ohh well a huge aspect of biology and science for that matter is reproduction soooo

      • Kolkrabe

        A man of science would know the science of the brain and the studies done showing that homosexuality and bisexuality are common in animals in nature. It is caused by chemical, hormonal, however you’d like to refer to it, imbalances in the body. It’s been recorded that the higher the population gets, the more homosexual activity is seen, which can be shown with the current problem with human overpopulation and the increasing number of homosexuals. Reproduction is indeed a part of biology and science, BUT it has its limitations and natural selection and evolution do their part to keep populations under control (which of course will not always work, but it will sometimes at least slow the process of overpopulation.)

      • I didn’t want to dignify him with an educated response…I was just going to tell him to go back to Bio class, haha.

      • Kolkrabe

        Haha I thought about a response like that! It might have been the right one afterall!

      • John Gavel

        so you are saying that homosexuality is caused by a chemical abnormality in biological species? guess that brings me to homeostasis

      • Kolkrabe

        Or to snide remarks like that. To say, “there’s a problem with homeostasis, here,” doesn’t quite explain the details of the issue, but you seem to be getting the idea! Good job, you’re catching on! 😀

      • John Gavel

        Lets keep it simple then, some things work- others dont, its how we are built. Get it, you are catching on

      • Kolkrabe

        LOL what?! That’s your “last word” snappy comeback there? Whew buddy, do I feel like a loser now!

      • I’m well aware of that.

        Are you telling me that because I don’t believe in creationism, that I can’t believe homosexuality is genetic?
        Or; because I believe in science I HAVE to believe that being gay is a choice, and therefore people who ‘choose’ to be gay shouldn’t get married?
        Because the argument you’re posing is literally making ZERO sense right now.

      • John Gavel

        tough for some to grasp i guess

      • Basic human rights are tough for some to grasp?

        Clearly, since you don’t seem to get them.

      • John Gavel

        When did i once deny anyone a basic human right? Ohhh bc I have an opinion which is different than yours- i see

      • John Gavel

        we just figured out the human genome recently (in terms of how long we have been on this earth) its a stretch to blame everything on our genes

      • Kolkrabe

        It’s also a stretch to say, “Hey, the government is giving you equal rights but since a group of people don’t like the way you live your life without bothering anyone… we’re going to take your rights away!!!” Pretty sure we’ve moved past that part of life, but then again it’s not like marriage is regulated by the government under the Constitution or anything.

      • John Gavel

        The stretch is bringing my genome arguement to the govt taking away rights which were never there

      • Kolkrabe

        Actually gays have had the right to marry… thus it’s been there… and they’re trying to take that away 100%…

      • John Gavel

        I think you need a quick refresher on the history of marriage my friend

        and show me where in the history of the united states gays were allowed to marry and had that right taken away?

      • Kolkrabe

        No, same sex marriages have been allowed in several states. The federal government wants to do away with it completely.

      • John Gavel

        Doma was clinton right?

      • Kolkrabe

        I believe it was, but Clinton later changed his stance on the topic and wanted to repeal it

      • John Gavel

        ahh wanting to repeal a law which was signed in 1996- how quick things change huh clinton. whats it changing for this time, an election?

      • John Gavel

        Obama? The guy supports gay marriage?

      • Kolkrabe

        Not really that he supports it, but he sees parts of DOMA as unconstitutional and tends to keep his personal opinion out of it as far as I’ve heard. There are a ton of media “quotes” taken out of context so it’s almost best not to even notice those little snippets anymore sometimes and just watch the bigger actions. :-/

      • Kolkrabe

        It will not let me post the link to the website for some reason, search “same-sex marriage in the United States” on google, Wikipedia looks to have the stats I was looking for. Several states view it as ok, but it is only recognized in those states and the federal gov seeks to ban it for good everywhere.

      • Kolkrabe

        Also to say, for the previous comments that started this topic here… If Romney became president this ban would have happened immediately.

      • California’s Supreme Court ruled to allow marriage equality until prop 8 overturned that decision in the 2008 election (a campaign which was heavily funded by the Mormon Church, btw). I’m surprised that you weren’t aware of this extremely famous case of rights being extended and then taken away. Duh!

      • John Gavel

        All of that is in appeals, the marriages which occurred stand- they were not nullified from what I understand. This is a recent battle and Kolkrabe was insisting that the govt (federal) was trying to take that away 100%- Obama just came out yesterday endorsing Jason Icantrememberhisname from the Wizards for coming out. To say they are trying to take that away, is a pretty big generalization

      • francene Blanchard

        U r unbelievably stupid. Do u really think anyone would choose to be gay? Just what would be the benefits!!

      • Kolkrabe

        Yeah that’s all he’s doing, he’s talking himself in circles and a number of the things he brings up make no sense. On the bright side, others can learn from reading the logical posts on here.

      • Kolkrabe

        I’m talking about the government being in debt because a president is trying to help the country and had some setbacks rather than a president coming in and taking away half the rights the constitution gives us because it doesn’t fit in with his Mormon morals. Derp. Learn to read, where on Earth did you get that response from reading what I typed word for word? LOL

      • John Gavel

        Romney was going to take away half of our rights? hahahahahahaha

      • Kolkrabe

        It’s time you did your research like I did through the entire campaign process. 😀 His regulations and new laws and rules he wanted to enact were ridiculous. And don’t ask me to pull up sources for you, since you’ve already told Kevin he could look things up for himself! 🙂

      • John Gavel

        And a democratically controlled senate would allow these laws to be passed?

      • phukk rightwing trash

        johns argument is akin to someone saying Michael Jordan missed a jump shot or didn’t win MVP every year,,,, why WHY why do people actually respond to a closed minded (mind??) littledicked crybaby>?

      • John Gavel

        Michael jordan playing basketball getting compared to homosexuality? Hahaha littlemind huh phuck u nugget. And i guess they responded for the same reason you did? Hahaha so maddddd

      • John, what is it you are trying to be other than contrary? Instead of responding to Melissa’s comment on trickle down you side WITH her and use it to attack Obama. Instead of responding to Vrals definition of a recession you bring up an argument (one that no one else has brought up) that blamed Sandy for last quarters shrink (if the information you present is true). You are bringing up arguments (i.e the Dart) and then YOU proceed to attack them. I have no idea of the loss Chevy is taking on their volts, so I as well would like to see some facts to prove what you are claiming.

      • John Gavel

        The govt issued a statement saying that the drawback in the economy was bc of sandy and other natural disasters plus the defense cuts?. As for the recession arguement, we had experienced a recession last quarter- first time since 2009. As for the volt, google it. i tried providing the links but it will not let me

      • I’m not saying that is wrong, I just have not seen that. BUT if a whole state (New Jersey) shuts down for well over a month (not to mention all the other states affected) and the government spends all the money that they did in recovery, would you not expect a drawback in the economy? That doesn’t seem like a very dubious statement to me.

      • Loan repaid and then some cheif…Check your facts.

      • Also..The roll out of the Dart was skewed heavily toward underpowerd(Read greater fuel economy) engines and manual rather then automatic…to meet emmisions quotas.Sales are climbing with a better Auto to Manual production ratio and a more powerful engine option.So…rather then drink the kool aid..do the research.

      • John Gavel

        Money is repaid them some? Ummm no, no its not. We still own shares in gm which is showing a loss- therefore our loans are not “repaid and then some.” But what do i know, I just did some research. As for the Dodge Dart, you can make all the excuses in the book for why it isnt selling but the fact remains- it isnt selling.

      • John Gavel

        Lets see where its repaid in full- everything im seeing says gm repaid its loan in cash and shares. The shares are worth below what they were issued at (ie- we are seeing a loss on the investment), therefore the loan is not repaid. Its pretty simple really, like making koolaid

      • Guest

        Do you really want an answer to that one?

      • Not true. Chrysler has fulfilled their debt obligation to US and Canadian govt. in full. Also seems pretty convenient to ignore the assistance given foreign auto manufacturers by their governments. Or just ignorant of that reality to begin with. I mean…if we’re going to champion those manufacturers and their products that should be acknowledged.

      • Kolkrabe

        Honda Civics are good cars, no argument there, but tell me how the president of our country as well as those in the office with him who check/veto his decisions can predict the future. A lot of people were in favor of what he did from all political parties. It’s no one’s fault but the car company’s that they’ve had any issues with their vehicle production.

      • phukk rightwing trash

        hey JOHN,,, why don’t U share with all of us UN educated lefties YOUR opinion of those F*CKING date-facts presented within this article??? or maybe U are busy tithing at a scumbag church which espouses hatred for Obama??? U typical crybaby rightwing scumbag

      • John Gavel

        Voted gary johnson my man- what would you like me to show you? Sure ill stop working and educate you- you in study hall or on lunch? whatd your mom pack you today?

      • The deal was cash and stock. It repaid the cash but the stock the government has is still not worth the rest owed.

      • John Gavel

        so in other words, the loan has not been repaid

      • Craig Jackson

        So what if it wasn’t? The stimulative effect was still enormous, therefore it was still a good idea. It was never about trying to make the government some quick cash, it was about reviving an entire industry. For that purpose I would say it was exactly what was needed.

      • John Gavel

        Stimilus had to be shovel ready projects- look at how many towns wasted “stimulus” on park bridges and other bs

      • Miguel

        Has GM defaulted on its loan? No?

        Nice try on the diversion. I’m sure it’ll play well on Fox.

      • John Gavel

        What happened to hostess miguel? Did you have to bail them out or did they go thru bankruptcy? Looks like there is quite the line to buy them- called how business works- govt (our tax dollars) shouldnt be involved. Laissez-faire

  • Oh please, since when has reality had any place in their world?

    • Sieben Stern

      religion taught them that whatever ‘truth’ they believe in is the Real Truth.

  • Bob

    The irony is the idiots on here trying to refute the facts of this article… Maybe you’re not feeling any financial relief cause you haven’t got of fb long enough to find a damn job!!

    • John Gavel

      Yeahhhh you tell em- get a job any job. But make sure its not a minimum wage job bc you cant live off of that, thats why we are fighting to raise it, right progressives?

      • David T.

        No i guess minimum wage isn’t all that great.. which is why we should raise it… oh wait, House Republicans shot that down also back in March of this year. When will supporters of the Republican party realize they really don’t give a crap about anyone but themselves and those big corps who fund their campaigns?! Wake up middle America (and Orange County, CA)!!!

      • John Gavel

        When will some realize jobs that 18 yr olds can do like flipping burgers or running cash registers isnt worth $12 per hr plus full benefits- its called a small business try running one

      • John you seem to have a stick up your ass tonight.

        I know a good doctor for that.

      • John Gavel

        Ok? Dont like facts huh?

      • I didn’t say I don’t like facts. I love facts. I’m man of science… facts rule my life.

        You’re clearly getting angry an refusing to cite any of these ‘facts’… so I’m taking you about as seriously as I would take an uptight nun.

      • John Gavel

        Man of science, as am I. Have my bachelors in biology- the internet is here for you, its open. go search it yourself for the facts- i cannot teach you everything. go find facts to refute what i am saying- dont worry ill wait

      • wow

        right cause everything you read on the internet is a fact..gimmie a break and stick to biology

      • John Gavel

        There are plenty of articles which can be used as fact, i even think wikipedia has gotten to that point

      • Here comes my date. He’s a French super model.

      • John Gavel

        easy drummer

      • I found some facts for you. More reliable than “reuters” I should add. They’re awaiting moderation, and will be here soon.

      • John Gavel

        wait? you are making fun of me for getting information on the internet but then you are going to present information that you found on the internet? interesting

      • Forbes Journal is a little more reliable than Reuters as far as I’m concerned.

        I never made fun of you for using the internet, either… I use it plenty….don’t go telling the principal now.

      • John Gavel

        Whether Reuters’ calculations are on target or not, Volt’s tepid performance is an embarrassment not only for GM, whose executives touted the Volt as the company’s ticket to recovery, but for the Obama administration, which has used the Volt as an example of the country’s commitment to building more fuel-efficient cars, Reuters says.

        The Volt, which has been on sale for nearly two years, carries an official sticker price of $39,995. Through August, GM has sold a total of 21,500 Volts. That’s well short of the figure GM hoped to sell. It originally estimated that by this year, it could be selling as many as 60,000 Volts annually worldwide (a version of the Volt is also sold as the Opel Ampera). Forbes

      • Sieben Stern

        LOL or he could seek out the TSA! they’d love to search his bum!

      • Kolkrabe

        No one said anything about full benefits for flipping burgers, just higher wages so people can afford the gas to drive to the restaurant to flip those burgers. I know janitors at schools and office buildings that work very hard at their jobs, for example, and start out at the lowly minimum wage. If you’re saying everyone should open small businesses, what on EARTH will that do to the rest of the businesses already running? Are you saying that everyone who wants to work in a restaurant should go open one? Who will work in already existing clothing stores if everyone runs off and opens their own? Who will cashier at gas stations because so many people will be off opening businesses left and right? Make some sense here, geez. Some of us are only posting so others who read it get a load of common sense and knowledge, because we know you’re just trolling for laughs by now.

      • John Gavel

        So if you get paid more to flip burgers i pay more for the burger, just causes inflation. But i gues responding with a different view is considered trolling

      • GladiusAltra

        I work a full time job and a part time job and i am a full time student. I still go deeper into the red every month because minimum wage is so low. So i should just drop out of school because i wasnt born rich? Good luck ever tying to support yourself on minimum wage

      • John Gavel

        If you are struggling to survive now, how do you think raising minimum wage will help? Raising minimum wage will not fix the problem, it will only raise inflation. And as for being rich, i wasnt born rich, took loans went to school and got a good job. Kinda the point i guess

  • Republicans are counting on peoples’ short term memory.

    • Sieben Stern

      not to mention the federal tax money from blue states to prop them up while they continue their failed policies :/

      • John Gavel

        Cough california cough cough

  • The facts are all well and good, it’s just too bad that Obama has slammed us in a couple places he said he wasn’t going to.

    And record billionaires and stock market rates unfortunately don’t affect the amount of jobs as they should… A law really needs to be passed that says company profits should be doled out in the form of job creation before personal checks and bonuses are payed out… that would just be too much of a ‘socialist tactic’ for even the most intelligent of those to buy into….

    We need another FDR….

    That being said…yes I voted for Obama… Hillary 2012

  • Kolkrabe

    Well the debates on here have been fun, but it’s time to say “good night” and thanks to all of you for the conversation. 🙂

  • My republican friends wont bother to read this since its the truth…..

    • John Gavel

      I guess? GM still owes us money, bond market artificially inflated, recession is over but the economy shrank first time since 2009 last quarter. Good thing corporations are seeing record profits tho

  • stevie

    Companies hanging on to their cash from record profits not helping us any. Furthermore, they are not sure what taxes will be from now until January, 2017, or how the Affordable healthcare Act of 2010, will effect them in the future. Did the taxpayer not lose money from the autobail out? The Stimulus bill in 2009 only help democrat voter groups. It did not do a thing for me. Of course, maybe if I was a democrat again instead of a Independent. lol Finally, what led to this mess is they allow anyone to get a homeloan who wanted to do so. Even if they could not pay it back. Bush only control the U.S. House 6 of his 8 years in office. He had majority control of the senate for 4 1/2 years unlike President Obama he never had limited super majority control in the senate. Where are the good paying jobs?

  • Please explain how tax cuts caused the recession? Whoever wrote this “article” must be retarded. Recessions have nothing to do with government tax revenue! The government doesn’t create prosperity. The cause of the recession, the real estate bubble bursting, and overall toxic asset creation was a direct result of Federal Reserve monetary policy throughout the early to mid 2000’s which created a false prosperity and encouraged bad banking practices and a host of other problems. Cheap money flooded into the big banks and lenders, and an inflationary bubble formed. People who should never have gotten loans felt confident in investing because of the overall positive “boom” in the economy, but as time wore on and inflation failed to adjust for workers’ wages, the cost of living increased and the bubble started to burst as investors, bankers and many others lost confidence. The Fed and reckless policy caused the recession, and that’s why it should be abolished. It didnt stop the great depression of 1929 either, an event it was created for the sole purpose of preventing.

  • Here’s some more facts you should remember :Bush spent 59 million for vacations during his 8 years in office. Obama spent 1.4 Billion for vacations in the first 4 years in office !

  • AL JONES

    WHY ARE YOU GUYS ARGUING WITH JOHN GALT ER…GAVEL,YOU SEE WHAT HE’S ABOUT