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  1. #1
    Jesus Christ is Lord

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    Default US Economy Going from Bad to Worse: Roubini

    US Economy Going from Bad to Worse: Roubini

    Roubini, best-known for calling the 2008 economic crisis, outlined five reasons the bulls have been wrong and argued that an American economic cold will lead the rest of the world to catch pneumonia
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    .

  2. #2
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    Default Re: US Economy Going from Bad to Worse: Roubini

    And whom may I ask is Obama blaming this down-draft on?

  3. #3
    Scab Hating Union Thug

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    Default Re: US Economy Going from Bad to Worse: Roubini

    Quote Originally Posted by bean View Post
    And whom may I ask is Obama blaming this down-draft on?
    Why not bush lite?

  4. #4
    Retired !

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    Default Re: US Economy Going from Bad to Worse: Roubini

    Many people still believe it was Bush, and it will take many years to reverse his ( Rove and Cheney ) policies, most of which favored the wealthy.
    This article is dated December 2007. Look what has happened.

    a tax code that has become hideously biased in favor of the rich; a national debt that will probably have grown 70 percent by the time this president leaves Washington; a swelling cascade of mortgage defaults; a record near-$850 billion trade deficit; oil prices that are higher than they have ever been; and a dollar so weak that for an American to buy a cup of coffee in London or Paris—or even the Yukon—becomes a venture in high finance.
    But the Bush administration had its own ideas. The first major economic initiative pursued by the president was a massive tax cut for the rich, enacted in June of 2001. Those with incomes over a million got a tax cut of $18,000—more than 30 times larger than the cut received by the average American. The inequities were compounded by a second tax cut, in 2003, this one skewed even more heavily toward the rich. Together these tax cuts, when fully implemented and if made permanent, mean that in 2012 the average reduction for an American in the bottom 20 percent will be a scant $45, while those with incomes of more than $1 million will see their tax bills reduced by an average of $162,000.
    This one was good and where do the pundits place the blame now.

    Although it railed against entitlement programs for the needy, the administration enacted the largest increase in entitlements in four decades—the poorly designed Medicare prescription-drug benefit, intended as both an election-season bribe and a sop to the pharmaceutical industry.


    Now as you read this final paragraph, remember it was written in 2007.

    Whoever moves into the White House in January 2009 will face an unenviable set of economic circumstances. Extricating the country from Iraq will be the bloodier task, but putting America’s economic house in order will be wrenching and take years.
    Bush ( Rove and Cheney ) did cause the problems we face today and it was predicted before he even left office.

    The Economic Consequences of Mr. Bush | Politics | Vanity Fair

  5. #5
    Taking A Stand!!!

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    Default Re: US Economy Going from Bad to Worse: Roubini

    Quote Originally Posted by fxstc07 View Post
    Many people still believe it was Bush, and it will take many years to reverse his ( Rove and Cheney ) policies, most of which favored the wealthy.
    This article is dated December 2007. Look what has happened.





    This one was good and where do the pundits place the blame now.

    [/B]

    Now as you read this final paragraph, remember it was written in 2007.



    Bush ( Rove and Cheney ) did cause the problems we face today and it was predicted before he even left office.

    The Economic Consequences of Mr. Bush | Politics | Vanity Fair
    Very informative. Thanks!

 

 

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