• Author unknown

  White House Lies: We Never Said We Weren’t In A Recession

  http://thejoshuablogs.blogspot.com/2008/12/white-house-lies-...
  32 days ago in the joshua blog · Authority: 3

  As usual, they haven't figured out that the reality based community know how to use the google. From Think Progress: Thursday, the White House acknowledged for the first time that the U.S. was in a recession. “Obviously, the NBER came out and said that we are in a recession,” Press Secretary Dana Perino said. Even though the National Bureau of Economic Research announced Monday that the U.S. was in a recession that had started in Dec. 2007, the White House was still refusing to use the word as late as Wednesday. Yesterday, when a reporter remarked that the White House had been denying the recession for months, spokesman Scott Stanzel interrupted her to insist the Bush administration had never done so...[snip] The reporter was right: For nearly a year after the recession started, the Bush administration has repeatedly and emphatically insisted the U.S. was not in a recession and would avoid falling into one: read more | digg story

  • Author unknown

    Bush to country: ‘I’m sorry’ about the economic crisis

    http://liveimagephoto.com/news/bush-to-country-im-sorry-abou...
    34 days ago in LiveImagePhoto · Authority: 1

    WASHINGTON (AP) — President Bush expressed regret Monday that the global financial crisis has cost jobs and shrinking retirement accounts and said he will support more government intervention if needed to ease the recession. "I’m sorry it’s happening, of course," Bush said in a wide-ranging interview with ABC’s World News, which was airing Monday. "Obviously I don’t like the idea of people losing jobs, or being worried about their 401(k)s. On the other hand, the American people got to know that we will safeguard the system. I mean, we’re in. And if we need to be in more, we will." The retirement account known as 401(k) is a government-approved system that allows workers to save before-tax dollars in stock or other accounts, with tax to be paid only after retirement when the retiree can expect his income to be smaller and thus be taxed at a lower rate under the U.S. progressive income tax system. The U.S. economy fell into a recession in December 2007, the National Bureau of Economic Research reported on Monday. Many economists believe the current downturn will last until the middle of 2009 and will be the most severe slump since the 1981-82 recession. Bush said he felt responsible for the economic downturn because it is occurring on his watch, but he added: "I think when the history of this period is written, people will realize a lot of the decisions that were made on Wall Street took place over a decade or so" before he became president. Via USA TODAY. White House Still Won’t Use The Word ‘Recession,’ Press Corps Doesn’t Seem To Notice Similar Posts:At&t to Cut 12,000 Jobs, 4 Percent of Workforce - 14 views - 0 comments Its Smart to be Dumb! - 25 views - 1 comments Phillip Swagel: Assistant Secretary for Economic Policy - 17 views - 0 comments

    • Author unknown

      why words matter

      http://alqaedanabq.blogspot.com/2008/12/why-words-matter.htm...
      35 days ago in al Qaeda in Albuquerque · Authority: 3

      Feeling under the weather, you visit your doctor.Your doctor diagnoses "flu", and treats you accordingly.In fact, you have bubonic plague. You die.Recall, Rummy explicitly refused to call the Iraq insurgency an "insurgency".The result? We mounted no effective counter-insurgency campaign.The insurgents took over Iraq.Today? From Think Progress:White House Still Won’t Use The Word ‘Recession,’ Press Corps Doesn’t Seem To NoticeDoes it matter that WH refuses to use the word "recession"?As suggested by preceding comments, I believe it does.If you do not correctly diagnose the illness, you are unlikely to prescribe an effective treatment.[I note that the conservatives are still characterizing the current mess as a financial problem resulting in a credit freeze.... and this continues to have policy implications: the Fed & Treasury continue to pursue treatment protocol that seems very heavily weighted towards injecting $$$ into financial sector.So far it hasn't worked.]Stop the madness.

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