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The Economy
Shitfuck's cluelessness regarding basic economics has brought the country to its worst financial crisis since the Great Depression. Shitfuck inherited a strong economy and an impressive budget surplus from Bill Clinton. He passes on to Barack Obama a shattered mess of economic ruin and massive debts and deficits as far as the eye can see.

Shitfuck's only economic plan was to reduce taxes on the rich. This worked when John F. Kennedy did it and Ronald Reagan did it and he wanted to have a chance to do something right too. However, marginal tax rates on the ultra rich were already very low, historically, when Shitfuck took office, and so his cuts had less stimulative effect than such tax cuts had in the past. Additionally, Shitfuck needed a lot of money to pay for his two wars and other initiatives. So he borrowed it. A lot of it.

The National Debt doubled during Shitfuck's Presidency. Put another way, Bush borrowed more money during his Presidency than every other President, combined. Basic Keynesian economics says that this type of deficit borrowing should create a stimulative effect but it didn't. Even with big tax cuts AND big deficit spending, Shitfuck could not get that economy going. There were a number factors involved in this. Part of the problem was that the spending Shitfuck did on the war did little to help ordinary Americans. When you pay a government contractor to blow up a building in Iraq, and then pay the government contractor again to rebuild that building, the government contractor may make some money but there is no guarantee is will come back to America. Additionally, Shitfuck's borrowing of such huge sums of money made the American dollar weaker than it had to be, so that Americans had to spend more and more money to acquire foreign goods. Since more and more companies sent their production facilities overseas during Shiifuck's Presidency, a lot more of what Americans bought came from other countries. Losing your job to a foreign competitor, then paying for the finished goods with a weaker dollar, was part and parcel during the Shitfuck years.

Shitfuck also loosed disclosure rules and financial regulations during his term. This lax oversight was coupled with financial institutions selling questionable products, included high-risk mortgages bundled together and sold as a low-risk security. Housing prices rose during Shitfuck's Presidency -- mainly as a result of speculative real estate investment but then the bottom fell out. Millions of Americans owe more on their home than what it is worth. Mortgage defaults soared, the mortgage securities became close to worthless, and the government was forced to print hundreds of billions of dollars in an attempt to save U.S. banks.

The damage done to the economy by Shitfuck is still growing and we will suffer the effects long after he leaves office. The stock market is worth about 15% less than it was when he took office, and job growth has been nearly non existent. He is a total failure and the current recession is proof.

THANK YOU President Obama for Preventing a Great Depression

We Need More FDR Less Herbert Hoover - Vote Obama

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Comments
From: George Prescott BushSaturday, February 7, 2009 4:36:16PM
Hey Rightwinged? What's an idoit? Is that one who is too stupid (or drunk) to use a spellchecker? Or is it a almost non-existent "dittohead."
From: George Prescott BushSaturday, February 7, 2009 4:33:55PM
To Aaron in Detroit: Shitfuck was not "elected" in either of his terms. And Nancy Pelosi is a Republican in drag. Too bad the entire crew won't be much traveling because the rest of the world hates him more than the brainwashed zombie minority here.
From: Aaron (Detroit)Sunday, January 25, 2009 3:35:15PM
What some people are over looking in this is that he should have been gone four years ago. Now I know that not everyone who has posted their good byes on here voted for him, but some did. They are probably the most vehement out of all as to their hatred of him and how much he fucked up the country, but the fact remains that he served two, that is TWO terms, not one.

Did everyone forget that we elect our leaders, they don't just to draw straws and the long one gets president? Well, since we elected him we could also have impeached him. And please don't give me the constitutionality argument. If we all stood together and contacted our congressmen and senators something would have been done. We do live in a Republic after all. Stand united and things will happen. I'm not trying to make anyone mad, just trying to make a point.
From: Hey AlanFriday, January 23, 2009 10:50:58AM
Fuck you!
From: JakeThursday, January 22, 2009 4:21:47PM
Another very important thing that Shitfuck (or Shitfuck, if you must :D) did to cause the current crisis was create a massive housing initiative. This was part of the Republican "big tent" political strategy, where they tried to become less the party of white males only and court minority voters. The home ownership initiative was a good way to attract Latino and black voters and it also fit with the idea of an "ownership society" that he championed. Under the initiative, Shitfuck had the government push hard on lenders like Freddie Mac to offer lower rates on loans and extend loans to people with worse credit. As a result, a lot of people ended up with bigger loans than they could actually afford to pay. Had the price of real estate continued to rise forever at an ever-increasing rate, these people probably would have been able to pay off their debt eventually, but when the price crashed, the people who had bought $200,000 houses when they could only afford $100,000 houses were left with massive amounts of debt and property that wasn't worth enough to pay it all off. When that happened, there was incentive for people to simply walk away and let the banks foreclose their property, since they would actually lose less money that way. The remaining loss was passed on to the banks, causing them to fail.

I noticed that there wasn't anything in the article about the homeowner's initiative, but it was certainly a big part of what caused the current crisis and it was certainly Bush's doing. There was an excellent article in the Sunday NY Times a few weeks ago about how the homeowner's initiative was connected to the crash. If you have a subscription, look for it. I'd like to see that information added into the article here as well.
From: kev (site administrator)Thursday, January 22, 2009 11:46:40AM
Thanks for your comment Alan. I have to say though, it is hard to edit out the swears when the domain name is goodbyeshitfuck.com =) Heh I figure there are so many places where people can discuss politics and etc where the forum rules re very strict. I am more interested in the truth and allowing people a true open forum. Sometimes it takes some profanity to actually describe someone accurately, and none more so than Shitfuck himself.
From: kev (site administrator)Thursday, January 22, 2009 11:44:50AM
Bill Clinton was President many years prior to the housing crisis RW, and Shitfuck had no plan to fix it. That is fantasty.
From: Alan D. James (Denmark)Thursday, January 22, 2009 11:40:48AM
I agree with just about everything you have written. not just with this failure, but also with everything else. However, while the failure here is partially attributable to Shitfuck, it actually goes back to the Reagan when deregulation was the order of the day.
Regulation of the stock exchange and financial markets was introduced after the '29 market crash to make sure that markets had a solid foundation and were not built on a hollow foundation of playing cards (sub-prime mortgages). It is obvious (to anyone who can think) that the market that existed before the current financial crisis had just such a foundation. Deregulation allows the thieves to move in. Madoff et. al.

Unfortunately for us, every generation thinks that they can do thing better than those that have gone before, and are not willing to learn the lessons of history.

penultimately, a little note on style; I think your message would be a lot more powerful if you edited out all the swearing. People would be a lot more willing to send a link to their granny, mother or priest if swearing were not present, and that is aside from being taken more seriously by others.

And finally, Bravo, keep up the good work


From: RightwingedThursday, January 22, 2009 11:25:54AM
You're a dumbass,
"Shitfuck also loosed disclosure rules and financial regulations during his term. This lax oversight was coupled with financial institutions selling questionable products, included high-risk mortgages bundled together and sold as a low-risk security. Housing prices rose during Shitfuck's Presidency -- mainly as a result of speculative real estate investment but then the bottom fell out. Millions of Americans owe more on their home than what it is worth. Mortgage defaults soared, the mortgage securities became close to worthless, and the government was forced to print hundreds of billions of dollars in an attempt to save U.S. banks."

Blame the shitfuck congress who vetoed Bush's and john McCains plan to fix this problem 5 years ago. by the way fucking idoit, this plan that allowed this housing crisis passed by bill Clinton...... fucking idoit
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