While George Bush and John McCain were running around the country in 2008 telling us how great things were going and that the American economy was strong as ever the truth was things were really, really bad. How bad? Numbers not seen since the Great Depression bad. The feds just reported this morning that the economy shrank at 6.2% in the fourth quarter of 2008. With that report, the U.S. economy shrank a total of -3% for the year 2008. Two year average rate of growth ('07-'08) was an anemic 0.8%. Pretty much no growth in the economy for two solid years! The FDIC also released a report outlining there were 252 "problem banks" in the fourth quarter of 2008. Not mentioned in the FDIC report is the fact that 24 banks collapsed in 2008, the most one year collapse since the 1930s. Thank you GOP!
*Update:
I was just thinking if you notice at their CPAC event (mentioned below), Republicans are claiming-- in-between cheering on Glorious War-- they know how to fix the economy. The same people who gave us our current crisis are jumping and hollering that they are truly the only great Americans left who know how to fix our economy. They are a mad people, completely void of any understanding of reality. They have not an ounce of sense in the whole group. They're a sick lot, every last one of them.
