The culmination of all data was showing that the economic conditions of the current situation was worse than 81/82. That was true
False. The truth is that Obama lied about the seriousness of the situation back in February of 2009 in order to promote his socialist agenda. When he said back then that "we have inherited an economic crisis as deep and dire as any since the days of the Great Depression," the recession was not worse than the one in 1981-82 (or the one in the mid 70s) on many, many levels.
I proved this in previous threads (which you are aware of) by comparing specific figures (unemployment rate, inflation rate, the delta in real GDP, the delta in industrial production, the 30 year mortgage rate, and even the "misery index"). And you never once contested any of those figures, joobz.
You just keep repeating the same lie with the liberal-borne expectation that if you repeat the lie enough it will be believed by enough people to keep you liberals in power regardless of the facts.
As I've pointed out previously on this forum, on January 11th, 2009, Obama lied when he stated to ABCNews (
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a3YMkstD3JzA ) that "Whether it’s retail sales, manufacturing,
all of the indicators show that we are in the worst recession since the Great Depression". That statement was simply not true.
And as also pointed out to you previously, the February 27th, 2009 issue of the leftist New York Times supported my view, not yours. It said (
http://www.nytimes.com/2009/02/28/business/economy/28recession.html?_r=1) "
Current conditions are not even as poor as during the twin recessions of the 1980s, when unemployment exceeded 10 percent". In fact, unemployment and many of the other measures I mentioned above still haven't exceeded the levels that occurred during 1981-1982 recession.
As further proof he was lying, just consider the fact that in selling the Stimulus bill in February, his own administration claimed that without the stimulus, the peak unemployment would be about 9% ... still well below the peak unemployment that was actually reached in 1981-82 recession. Now he had to have known that number at the time, else we can only conclude he and his staff are incompetent. So Obama lied when he told the public that "
all of the indicators show that we are in the worst recession
since the Great Depression". The fact that the contraction is now longer than that earlier one and as severe in some respects is likely due to government interference which has prolonged it due to the great uncertainty that interference has caused in the free-market decisions needed to end the recession.
Plain and simple, Joobz ... Obama was a liar. He lied in order to sell his stimulus/porkulus agenda. And you foolishly bought the lie. And here you are still trying to defend the lie ... with another lie. For about the 10th time. How appropriate. How like you.
