The “smoking gun” of Republican economics

(11 am. – promoted by ek hornbeck)

Without facts, name calling and finger pointing become pointless.  So, let’s get some facts out early as I go through the smoking gun on the effects of Republican eocnomics:

1993 to 2000 rates                2001 to 2008 rates

  1993 – 6.9                                     2001 – 4.7

  1994 – 6.1                                     2002 – 5.8

  1995 – 5.6                                     2003 – 6.0

  1996 – 5.4                                     2004 – 5.5

  1997 – 4.9                                     2005 – 5.1

  1998 – 4.5                                     2006 – 4.6

  1999 – 4.2                                     2007 – 4.6  

  2000 – 4.0                                     2008 – 6.1

At the moment, the national unemployment rate is 7.6%.

This is the of states who have an unemployment rate at, or higher, than 7.6%.  

51     MICHIGAN – *10.6

50     RHODE ISLAND – *10.0

49     SOUTH CAROLINA – *9.5

48     CALIFORNIA – *9.3

47     NEVADA – *9.1

46     OREGON – *9.0

45     DISTRICT OF COLUMBIA – *8.8

44     NORTH CAROLINA – *8.7

43     INDIANA – *8.2

42     GEORGIA – *8.1

42     FLORIDA – *8.1

40     MISSISSIPPI – *8.0

39     OHIO – *7.8

39     KENTUCKY – *7.8

37     ILLINOIS – *7.6

*reflects current unemployment rate

Michigan – In March, 2000, the unemployment rate was 3.2%.   Michigan now stands at 9.6%.

California – In Feb. 2001, the rate was 4.7%.  Now, California is at 9.3%.

South Carolina – In May 1998, unemployment was 3.1%.  Today it is 9.5%.

Nevada – Unemployment was 4.1% in 2006.  Today it is 9.1%.

You can do this for every state.

It hasn’t mattered if a state is governed by a Democrat or Republican Governor.  When unemployment goes up nationally, it affects the state unemployment rates with some states hit harder, some less.  Whether the chicken or egg came first doesn’t matter, what matters are the facts; the GOP under George W. Bush caused this huge meltdown in our economy from insolvent banks to unemployment.  As shown in the introductory paragraph, the national unemployment rate fell every year under the Democratic Presidential leadership of Bill Clinton.

As the HuffingtonPost notes, Republicans are celebrating like it is 1993.

“The House GOP is back,” reads Cantor’s website. Indeed. Having been relegated so far into the minority so as to be incapable of stopping a stimulus bill that it deemed wasteful and liberal, the GOP is taking solace in the unity of its opposition. Conspicuously absent from the video is any mention of the party’s House leader, Rep. John Boehner (R-OH). But this video is a House Whip Production.

Paul Krugman clearly lays out the situation for America in his latest article.

Last week the Federal Reserve released the results of the latest Survey of Consumer Finances, a triennial report on the assets and liabilities of American households. The bottom line is that there has been basically no wealth creation at all since the turn of the millennium: the net worth of the average American household, adjusted for inflation, is lower now than it was in 2001.

It isn’t just the average household who find themselves without money as we know banks are insolvent and state budgets are a disaster.  The only people who did profit during George W. Bush’s administration were the wealthiest of Americans.

You would think that the media are taking the Republicans to task, especially state-level media in states where the unemployment rates are the highest.  You’d be wrong.  This unsigned editorial from The State newspaper in Columbia, SC, shows just how scared the media is of taking GOP politicians to task.

But in the face of the largest crisis that has confronted our state in years – a crisis that will affect all of our lives – Mr. Sanford has been given significant power from Washington. That power gives him the opportunity to be a destructive force for our state, by refusing to request federal stimulus funds.

The governor hasn’t said he won’t act, but his round-the-clock, made-for-TV attacks, coupled with his refusal to say he would request the funds, have forced countless people to spend valuable time and effort finding a way to work around Mr. Sanford if he does choose to become an obstacle.

This is beyond ridiculous. We have enough problems in our state without manufacturing more. We cannot afford to have a governor working against our interests.

What is The State’s beef?  It is with the Governor.  This is no surprise as The State newspaper’s editorial chief, Brad Warthan, has had a beef with Gov. Mark Sanford prior to the stimulus.  

Nobody welcomes the idea of more federal borrowing. There’s nothing attractive about having to balance the state budget with federal money – particularly one-time federal money. And frankly, the Congress made a lot of bad decisions in the stimulus package. But it’s the only game in town.

This is exactly the point that Paul Krugman makes; there is no other alternative to save our nation from this disaster. So, with the GOP lockstep to block the stimulus, where are the condemnations against Sen. DeMint, Sen. Graham, Rep. Joe Wilson?  There is no mention of the GOP Senator’s and Congressional Representatives who voted “NO” to the stimulus in the first place.

Facts are facts.  The GOP under George W. Bush destroyed our economy.  GOP Senators and Congressional Representatives are against the only entity providing help to the nation that can; our federal government.  GOP shill rags and talking heads are still trying to paint the GOP as winners.

While the traditional media still tries to marginalize blogs, it is the blogosphere that is providing the information necessary to the people, in this case, the smoking gun.

Democratic Party rating +5.  Republican Party rating -2.  

As Markos Moulitsas Zuniaga, founder of Daily Kos writes:

It’s as if the DC chattering class is going out of its way to prove that it has completely lost touch with the country it’s supposedly trying to inform. It’s as if they want everyone to know, without a shadow of a doubt, that their bubble is impenetrable to things such as “reality” and “facts” and “truth”. It truly is bizarre.

But it’s also dangerous, which is why I invested in these weekly polls. During the primaries, I had no idea how the American people would react to the debates, so I was happy to wait for the poll results to come back. It was clear that Americans knew better what they themselves thought than arrogant cable news blowhards. I loved the concept, so I wanted to apply it more broadly to the coming policy debates in 2009 and 2010. Instead of depending on clueless, out-of-touch blowhards in DC to declare winners and losers, why not ask the American people themselves?

And I’m glad we are, because the gap is real and seemingly getting bigger by the week.

Think that “blogs” aren’t reporting the facts?  Need more a “mainstream” media outlet to reference?  Here is the latest Gallup poll.

PRINCETON, NJ — Public support for an $800 billion economic stimulus package has increased to 59% in a USA Today/Gallup poll conducted Tuesday night, up from 52% in Gallup polling a week ago, as well as in late January.

Americans overwhelmingly support the stimulus package despite the chattering class trying to paint the GOP as winners for opposing it.

How’s that for a smoking gun.