The Real Recession

For years the democrats worked tirelessly to redefine 'recession' in order to fabricate a recession during the Bush administration. Last year they finally convinced enough people to believe their new definition to believe we were really in a recession. They even convinced the National Bureau of Economic Research to redefine recession (no doubt through their usual back room underhanded dealings) and publish a report stating the U.S. was in a recession.

The correct definition of a recession is two consecutive quarters of negative economic growth as measured by the gross domestic product (GDP). This did not happen at any time during the Bush administration. This did happen during the first two quarters of the Obama administration. Yes, we have all heard the same old excuse that he "inherited the mess". Obama had already worn that line out before he stepped foot in the white house.

The primary cause of the economic downturn was subprime home loans. Where did these come from? The democrats and their entitlement programs. Years ago (near the beginning of the Clinton administration) they forced into being the subprime market by strong-arm tactics that led to insurance companies being forced to give out home loans to people that could not afford them. The liberals think that home ownership is a right that everyone should enjoy, whether or not they can pay for it. When these mortgages entered the market, the market did what it does with everything, buy, sell, trade. That is what the market does. That is what it has always done. As if this wasn't bad enough, the liberals with the help of groups like the NAACP, ACORN (with obama's assistance as an ACORN lawyer) forced mortgage companies into even higher risk subprime loans with the threat of racism lawsuits and other lowhanded tactics, all in the name of "equality", meaning that everyone should own a home whether or not they can afford it. So the market was flooded with these subprime loans, which were extremely high risk. As with most things that involve excessive risk, the bubble eventually burst which started the economic downturn. Liberals led the charge to blame President Bush and Wall Street, backed up by the liberal media.

Obama comes along and paints himself as a savior (even though he helped create the problem). He takes advantage of the situation to force his socialist agenda, with government takeovers of banks and mortgage companies, and government control of auto manufacturers and other companies. With the label of "stimulus", combined with all sorts of promises and lies to fix everything, he initially has success with his socialism push. The next step was government healthcare. This is a much harder sell because people have had time to wake up and realize his socialist agenda. With all the stuff he has pushed through, he has quadrupled the national deficit, spent more than all other presidents combined in a short amount of time, crippled and destroyed companies and industries, and doing major damage to our country. He promised that if his "stimulus" plan was passed unemployment would never go above 8%. Well the "stimulus" was passed and here we are at 10% unemployment and rising. The dollar is at its lowest value in a very long time, and the rest of the world wants to dump it as the de facto world currency. We are in record debt to China and other countries. With the announcement of the rise in GDP this past quarter, the liberals are all too happy to say that Obama has stopped the recession, backed up by the liberal (state-run) media. This temporary rise in GDP is more about deceit than anything, as time will show. The worst is yet to come, and the Obama depression is only getting started.