Bush made it official

Bush used the R word today so I guess we officially have a recession...

http://www.foxnews.com/politics/2008/12/05/bush/

 

Is this what you mean?

The only ones lending is the Government...

 

No, we've been loosing jobs the last few years which was long before the other problems surfaced. It began with the sucking sound from jobs going overseas and hasn't let up. Then the tax rule that exempted corporations from paying taxes on money earned overseas made it more of a hurricane with jobs leaving.

I will say the recent trouble has started a second waive of job losses. Now the construction industry and their suppliers are impacted. Before it was the technology and manufacturing jobs.

 

Not sure what you guys are disputing, are you disputing that we were loosing jobs before the recent economic down turn? Are you disputing last year we had record job losses as well as several preceding years? Is that what you're disputing?

 

Not sure why I would need someone to corroborate my insertion when it is supported by facts. Here are the unemployment rates since Bush took office. Now keep something in mind that really skews these numbers, the unemployment figures are a measurement of people who are applying for benefits. They don't include people who have exhausted their benefits so are no longer in these numbers. I got the number here from the labor department.

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.2 5.4 5.2 5.1 5.1 5.0 5.0 4.9 5.1 5.0 5.0 4.8
2006 4.7 4.7 4.7 4.7 4.7 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.5 4.6 4.7 4.7 4.7 4.8 4.7 5.0
2008 4.9 4.8 5.1 5.0 5.5 5.5 5.7 6.1 6.1 6.5 6.7

As you can see, the unemployment rates have been going up since 2001. Many American's are so frustrated they've stopped looking for a job since everywhere they go people are downsizing and not hiring.

Offshoring from my memory began about 2002 which was also the year Enron and Worldcom were cooking the books. During all these years, CEO's began making record salaries and bonuses while workers were reduced and reduced and many jobs went out of this country.

Here is a study the government did when offshoring really became a concern

So it was predicted these massive job losses would be a product of offshoring yet nothing was done to stop it.

I repeat, job losses have been on the rise long before this economic crises. Just look at this year alone, we've lost millions of jobs just this year before the economy tanked.

 

The economy tanked on the Republican watch. Just like it did before Clinton came in office and just like it did before Carter.

 

I agree in theory, but when the government incents companies to send jobs overseas, that is treason against the people...

http://maloney.house.gov/index.php?option=com_content&task=view&id=213&Itemid=61

The main Bill that created the sucking of jobs was H.R. 4520 which was ironically named of American Jobs Creation Act Of 2004.

http://transcripts.cnn.com/TRANSCRIPTS/0402/17/ldt.00.html

You see, the Republican's not only encouraged jobs to move overseas, they thought it would be good for the economy. I think they got that wrong.

 

Did you read either of the links I provided. They both discussed how HR4520 did send jobs overseas.