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Interesting Thought. What's Your Take?

July 21st, 2008 at 06:25 am

DH just sent me this email. Not that I am endorsing this or believe every forward I receive, but I thought it was interesting therefore bringing up. I am curious to know what your take on it would be:

Apparently, quite a few somebodies voted for 'change'?

The current president is to blame for our present circumstances. True, or not? After all, he has been in office for almost 8 years! Why is it that, only recently, so many economic woes have begun to surface? If we look back, could we find some related causes?

Do you think it might have something to do with what happened in the election of 2006?

Just before that election took place:
1) Consumer confidence stood at a 2 1/2 year high;
3) The unemployment rate was 4.5%.

4) The housing industry was booming

5) Home equity was at an all-time high

6) Stocks, mutual funds, and other investments were showing consistent gains.

In the election of 2006, Americans were unhappy with the president and the Republican controlled Congress . It was clear that they wanted a CHANGE, and they GOT IT! As a result, a Democratic Congress was voted in and has been in control of the government for almost two years.

Since then:

1) Consumer confidence has plummeted.
2) The cost of regular gasoline has risen to over $4.00 a gallon.

3) Unemployment is up to 5% (a 10% increase);
4) American households watched $2.3 trillion in equity value evaporate.

5) Stocks, mutual funds and other investments have seen record losses;
5) Home equity has dropped by over $1.2 trillion dollars;
6) 1% of American homes are now in foreclosure.

At whom should we be pointing the finger of blame? The average American doesn't realize that Congress makes the laws, and has ultimate control over the conditions that are present in this country----not the President. He gets to work with whomever "we the people" elect. Was voting for Change a good move? You decide.

8 Responses to “Interesting Thought. What's Your Take?”

  1. creditcardfree Says:

    I think that there are too many factors to blame any one person. I do think that to only blame the president for many things is a bit naive. People need to be careful when they vote they are not just voting for the "idea of change". Yes, we want changes to health care and social security....but what substance are the politicians giving to these issues.

  2. gamecock43 Says:

    I have heard that every president lives off the effect of the previous presidents term. Most presidents go the full 8 yrs. They say Clinton didnt really have much to do with our economy and peace, but since I am a democrat I think that is a bunch of phooey. And since I am a democrat I blame this (waving arrms around) on Bush.

  3. ceejay74 Says:

    I don't know. I think the Democratic majority has been way wimpy in standing up to Bush, but he has a lot more power than you give him credit for. He basically threatens to veto any bills that don't please him, and the Congress has backed down and changed the bills so that he won't.

  4. SavingFaire Says:

    I find it beyond amusing that most of the bloggers/posters here are ALL ABOUT THE NUMBERS and yet, when the numbers are shown that they don't like . . . oh well, it's not true. @@ Hypocrites at their finest.

  5. aevans1206 Says:

    I agree with Ceejay. What a weak Dem congress we have! But as for the economy, it rises and it falls naturally. We are in a natural down period. The bubble had to burst at some point.

  6. baselle Says:

    SavingFaire - what? I'm all about the numbers, but I'm also all about science, statistics, and what the numbers mean. What has been presented here is a nice leading correlation, which is only the beginning. First rule of science: correlation does not always equal causality. Sometimes correlation is coincidence.

    Second rule is political: Hide your wallet, period.

  7. cargirl86 Says:

    Hi! Just stopping by to say THANK YOU for reading my blog.

  8. PauletteGoddard Says:

    I'd probably look to see who was responsible for the 2002 Homeownership Act, the reckless prime lending rate cuts, the unsustainable borrowing and immense national debt, and the 2005 Bankruptcy Act. Too bad many Americans think two years is long-term... some damage takes years to manifest.

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