Thursday, October 09, 2008

Everyone is entitled to their own excuses, not their own facts 

A year ago, Art "Voodoo Economics" Laffer appeared on Larry "nosecandy" Kudlow's CNBC show, and explained to everyone why a recession was not in the works because taxes were low and no new tariffs had been slapped on imports. Literally every day, for at least four years, Larry had been proclaiming the Bush Boom to be the "greatest story never told".

Well, here' s the "greatest story's" final chapter:


Net Payroll Jobs Growth

Clinton: about 23 million

Bush 2: about 5 million (and much of that was government jobs)


Federal Budget

2000 budget surplus $236 billion

2004 budget deficit $412 billion

2008 budget deficit $438 billion


Federal Debt

2000: $5.7 trillion

2008: $10.2 trillion (much of it financed by China)


Dow Jones Industrial Average

1/19/01: 10,587.59

1/19/05: 10,539.97

10/09/08: 8,579.19


NASDAQ


1/19/01: 2,770.38

1/19/05: 2,073.59

10/09/08: 1,645.12


S&P 500


1/19/01: 1,342.54

1/19/05: 1,184.63

10/09/08: 909.82


Value of the Dollar


1/19/01: 1 Dollar = 1.06 Euros

1/19/05: 1 Dollar = .77 Euros

10/09/08: 1 Dollar = .73 Euros


Osama bin Laden has not been killed or captured, and the upcoming National Intelligence Estimate reportedly says that "Afghanistan is in a 'downward spiral", and casts "serious doubt on the ability of the Afghan government to stem the rise in the Taliban’s influence there".




Heckuva job, Bushie.

With the stimulative aid of unsustainable tax cuts, ultra-low interest rates, wild overspending, the baby boom demographic in its peak spending years, and a massive housing bubble... Bush leaves us with ... wait for it...

Panicked Markets in the crapper, a recession, and government jobs financed by China!

And after the nation was united after 9/11, eight years later Bush managed to leave us with a failed war in Afghanistan and a hideously expensive misadventure in Iraq.

Labels: , , , ,

7 comments DiggIt! Del.icio.us

7 Comments:

tut tut tut. so *angry* oyster...

I'm gonna tell Big Nurse on you.

By Blogger jonnybutter, at 10:08 AM  

This goes out to you, jonnybutter.

link!

By Blogger oyster, at 10:27 AM  

"Well, here' s the "greatest story's" final chapter:"

Is it Chapter 11?

By Anonymous Daniel Z, at 10:28 AM  

Hey Oyster, did you know about this:
http://www.bushlegacytour.com/bushlegacy

Gonna be at Tulane tommorrow.

By Blogger AhQuoi, at 12:26 PM  

gono-ca-ca-ca-cus

By Blogger jonnybutter, at 7:15 PM  

But hey...don't let any of that stop you from voting Republican. I mean, it's not like it's actually BUSH running again...

By Anonymous Puddinhead, at 12:18 PM  

Besides, Sarah Palin shoots moose in a little black teddy.


Er..that teddy would be on Palin--not the moose.

By Anonymous Puddinhead, at 12:19 PM