July 16th, 2008 at 4:19 pm

What Recession?

in: Fiscal Responsibility, Opinion, The Economy

I keep hearing of our economy being in recession. What a bunch of bull. A recession is defined by 2 or more consecutive quarters of negative growth. To this point, we haven’t had 1 quarter of negative growth let alone 2 consecutive quarters. So no recession exists.

I do admit, there is a slowing in our economy but negative growth hasn’t happened as of yet. Is there one coming, yes. That is unless something is done to boost the economy.

We are in an inflationary cycle. Consumer prices shot up 1.1% and the rate of inflation if recent news reports are to be trusted are the highest in 27 years. That is since the Carter Infestation. It is my belief that should we be saddled with an Obama Infestation for the next 4 years we will be cast into a full fledged Depression based on definition - a decline in GDP of more than 10%.

If Obama is elected Moron-in-Chief his ignorance on what constitutes a recession by definition and what doesn’t is likely going to be the death nail of this nation. So go ahead Politically Apathetic American Lemmings* elect Obama the Moron-in-Chief and usher in a Depression that will rival the Great Depression of the 1930’s.

The only way the public can perceive that the economy is in recession is because the liberal leaning MSM is fueling the hysteria of a recession in an attempt to influence the election. Problem is, Democrats are historically ill-equipped to handle such economic conditions. Some will argue that Clinton inherited a recession then balanced the federal budget and eventually produced a surplus. But as I’ve discussed at length before, a Republican Congress was the source of both the balanced budget AND the surplus not Mr. Clinton.

On the other hand, Ronald Reagan did inherit a nearly out of control recession that was bordering on a full blown depression in 1981. What did Ronald Reagan do? He forced a Democrat Congress into adopting policies that led to the longest sustained period of economic growth in our nation’s history. The recession ushered in by George H. W. Bush was the result of Bush’s own retreating on a campaign promise that he would not raise taxes. A retreat that led to his defeat in 1992.

Clinton took office in 1993 and it wasn’t until after the Republican take over in the 1994 mid-term elections (January 1995) that the Contract With America took over and we saw an upturn in our economy again.

This is the true history. Talk of an existing recession is false history. As I stated above, the MSM is interested in reporting that a recession exists so they can blaim the outgoing lame duck and his party for it. But keep one last thing in mind before you decide who is best equipped to handle any type of recessive economic conditions. When did this perceived recession begin? I would argue that began in 2007. Who took control of Congress in 2007? That’s right Democrats.

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