The days of 7.2 percent quarter gdp growth were great, until the days of 8 percent gdp decline like 4th quarter 2008 happen to correct it.
Consumer confidence died when Democrats seized the thrown in the 2006 midterms. That's like saying the economic boom in the 90's was corrected when the stock market began to drop in March of 2000 dawning what I call the Clinton/Gore recession.
lol the housing market collapse had nothing to do with consumer confidence. the bubble just got so large we ran out of consumers
I wasn't relating the two. The housing market collapsed because of a foreseen problem that Bush called on congress to fix in 2003 as part of his tax cuts but the Democrats filibustered it. A couple years later, John McCain had a bill to fix the housing market that didn't make it to the floor. Anyhow, the only problem was that people were taking out loans who had no intention of ever paying them back knowing that the lenders had to meet quotas. A certain number of minorities had to receive loans. This was started by Clinton and the Republicans in 1996. We had hookers, prostitutes, crack whores, single mothers, gangs, illegal immigrants, and ACORN living in giant mansions which should've been left to those who could afford them or turned into homeless shelters if foreclosed on. Eventually, the banks had to call in their loans. It was on Bush's watch and everyone blamed him. Hillary Clinton voted for the bailout after receiving sweetheart deals from the lenders she voted to bail out.
