Maddow Falsely Claims Bush Whined He 'Inherited This Recession'

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Ever compete against ballplayers who cheat?

You know the type -- the runner who tags early on a sacrifice fly. The pitcher who scuffs the ball for better break in his curve. The base-stealer out by a mile who spikes the shortstop.

In the ballgame of political punditry, Rachel Maddow is that kind of player. And apparently it matters little to Maddow that her team, with Obama as its captain, is way ahead in the score.

Most recent example: Maddow twice making a demonstrably false claim about remarks by President Bush in his final press conference on Monday. In previewing a segment during her MSNBC cable show that night, Maddow said this --

Today, still-President Bush insisted the federal response to Hurricane Katrina wasn't slow and that he inherited the recession.

You caught it too, right? "The" recession. OK, so it's one word, no big deal, I told myself upon first hearing Maddow make this claim. Then she did it again several minutes later, and, to mix metaphors, the foul was more flagrant --

Coming up next, you do realize that President Bush inherited this recession and that he's been unfairly accused for the current economic freefall, right? That's what he said today and that's why we're doing a Lame Duck Watch special report tonight.

When it came time to air a clip of Bush's remarks, Maddow avoided repeating her earlier claim, since to do so risked making its falsity immediately apparent. Here's what Bush actually said --

In terms of the economy, look, I inherited a recession, I'm ending on a recession. In the meantime, there were 52 months of uninterrupted job growth.

Contrary to what Maddow wants her viewers to believe, Bush never said he inherited "the recession" or "this recession." That implies Bush blames his predecessor, Bill Clinton, for our current economic woes while also believing we've suffered recession for the entirety of his presidency. Suffice it to say, Bush believes neither, though the First Amendment certainly allows Maddow to claim otherwise, regardless of accuracy.

Adding insult to revisionism, Maddow said this about the initial recession cited by Bush --

The first was a mild economic downturn which started in March '01. And you know, back in 2001, March came after January, which is when Bush took office. So it makes it kind of hard to call that one something he inherited.

What's actually "kind of hard" is what Maddow does -- imply that Bush, who served in neither the presidential administration before his, nor the Congress, had anything to do with creating the "mild economic downturn" that began weeks after he took office.

Sigh ... another missed bag in Maddow's dash to home plate. 

Seeing how Maddow is so fond of citing specifically when recessions start and end, let's look at the one that came before the 2000 recession. According to the National Bureau of Economic Research, it began July 1990 and ended in March 1991, while George H. W. Bush was president -- and six months before Arkansas Gov. Bill Clinton announced his candidacy for president.

You'll recall Clinton's signature issue in that campaign -- "It's the Economy, Stupid" -- even though the recession ended more than 18 months before the '92 election. A more honest slogan would have been, "It's How the Economy is Perceived, Stupid" -- as Maddow would readily attest.


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One Word Rachel....HANNITY

Epic failure in the ratings, you distortionist 'ho

"What you can not enforce, do not command" -Sophocles-

"Distortionist" I

"Distortionist"

I like that.

MadCow is one of the star Distortionists from the Leftist Circus.

Olbermann doubles as MC and Smallest Man On Earth.

Matthews is a clown riding in one of those teeny-tiny cars.

Ed Schultz is the resident geek.

Rosie O'Donnell is the half-man, half-woman, though many think he is a phony.

Randi Rhodes is the bearded lady.  She also can drink any carny under the table, or at least will try.

John Cusack walks after the elephants and cleans up their poop.  (Finally, after all those hairbrained causes... something John should fully immerse himself in.)

Jack... How do you watch

Jack...

How do you watch this critter?

Seriously...I hope you make good enough $$$ off of the likes of her.

She's Mad I tell ya'...completely mad.

Leftist always are.

Pitiful state of mind, pathetic way to live.

"You've gone beyond the law"... Sen. Kerry~ Head of Foreign Relations Committee to Hillary at Sec.of State confirmation hearings~1-13-09 

Bush helped create the Recession

Bush 'No Money Down' - Tax Payers Will Pay (Video) (6min)
Bush: Expanding Home Ownership (The White House, December 16, 2003)
Bush: Increasing Affordable Housing and Expanding Homeownership (The White House, September 2, 2004)

Bush touts affordable housing (USA Today, April 18, 2000)
Mortgage giants get Bush support (USA Today, July 16, 2002)
Bush seeks to increase minority homeownership (USA Today, January 20, 2004)
Bush ties his economic policies to home ownership (USA Today, March 26, 2004)
Owning tops Bush housing agenda (USA Today, November 19, 2004)

Carbon Dioxide (CO2) is Not Pollution

Bush tried and failed to KILL the CRA's, and So did McCain.

Fast forward to 4 minutes and see for yourself.

FREEDOM

(D)

 

The CRA was not the problem

Fed’s Kroszner: Don’t Blame CRA (The Wall Street Journal)

- Only 6% of subprime loans were extended by CRA-covered lenders

Greenspan was:

Yes, Greenspan Did It (Stefan Karlsson, Economist)

Bush helped direct the expanded credit into housing with his foolish ownership programs.

Carbon Dioxide (CO2) is Not Pollution

Thanks, PopTech

Thanks, PopTech...

There's plenty of blame to spread around for this bipartisan mess--and a not inconsiderable amount must be borne by Democrats. 

But, you are right on the money regarding the CRA.

Jer

jer

the fuse and igniter are only 1% of the bomb.

the rest of the market had to stay competative with the CRA.

btw what if the GDP dropped only 6%?

The way to stop discrimination on the basis of race is to stop discriminating on the basis of race.” -- Chief Justice John Roberts

The CRA should still be abolished

I just want to make it clear that I believe the CRA should still be abolished and that ALL government intervention into the housing market can only cause problems and the CRA to a degree (6%) amplified the problem but it was not the cause of either the bubble or it bursting, that was all caused by the federal reserve.

I am just tired of the knee-jerk blame the CRA so the Republicans (mainly Bush) do not get any blame. Not to mention idiotic bills like this were passed under Bush:

American Dream Downpayment Act of 2003 (HR 1276)
American Dream Downpayment Act: Fiscally Irresponsible and Redundant to Existing Homeownership Programs (Ronald D. Utt, Ph.D. Economics)

And even more were introduced:

Zero Down Payment Act of 2004 (H.R. 3755)
Congress's Risky Zero Down Payment Plan Will Undermine FHA's Soundness and Discourage Self-Reliance (Ronald D. Utt, Ph.D. Economics)

Big Government Republicans like Bush deserve the blame too.

Carbon Dioxide (CO2) is Not Pollution

HR 1276 AND HR 3755, Are the things that make me cringe

and hide my head.

HOWEVER they are very small in size and scope compared to CRA.

HR 1276 total about $ 200 million a year...

HR 3755  is a bit bigger  $ 2 billion a year

The nature of CRA's  Dragging the ENTIRE banking system of this Nation into it's mandatory plan is totaling TRILLIONS and TRILLIONS and TRILLIONS!!

apples and oranges.

I agree with you, get the government out of my wallet..

FREEDOM

(D)

 

The CRA didn't drag us into anything

Why do you keep repeating this myth?

Fed’s Kroszner: Don’t Blame CRA (The Wall Street Journal)

- Only 6% of subprime loans were extended by CRA-covered lenders

Carbon Dioxide (CO2) is Not Pollution

Is Basic Math too hard?

CRA opened doors for all

CRA opened doors for all types of creative lending. The banks wanted to make loans at 125% loan to value (yea, as if it was Bush's fault). Home value was rising so fast they were hoping to capitalize on the money from people's assets. This is totally the banks fault.  

"Forget change, I want improvement!"

Basic Math = Only 6% of subprime loans were by the CRA

- Only 6% of subprime loans were extended by CRA-covered lenders 

The CRA existed for 30 years and this never happened. Only two major things changed during the bubble, the Fed's rates and Bush's housing policies:

You can spin in circles but the facts don't change. The Banks would not have been able to make those ridiculously (effectively negative rate) ARM loans if it was not for the Federal Reserve. And Bush's irresponsible home ownership policies helped direct that loan money into housing.

Carbon Dioxide (CO2) is Not Pollution

"Nonetheless, the weight of

"Nonetheless, the weight of the evidence suggests that the CRA is helping to expand
access to credit for LMI borrowers and areas." page 112.

In the 1990's CRA-covered institutions loans to Low -Middle income people was anywhere from 25-30%. page 91

http://www.treas.gov...

While loans originated from strict interpretation of the CRA may not have bore the brunt of the injury to the Banks, The CRA clearly changed to way that loans were distributed, and encouraged much looser restrictionand more risky behavior (subprime loans).

To say "Don't blame the CRA" is as ignorant as not blaming the Congressman that failed to regulate Fannie and Freddie, and the banks that were eager to exploite the situation.

Maddow=brazen ignorance of

Maddow=brazen ignorance of the issues. Seems to be proud of herself, regardless.

For liberal Democrats and the Old Media, everything is crisis, chaos, calamity and catastrophe. That justifies stealing your property and liberties.

cel

 Seems to be proud of herself, regardless.

Hey cel, tough job...someone has to do it...well, besides Ubermann that is.

"You've gone beyond the law"... Sen. Kerry~ Head of Foreign Relations Committee to Hillary at Sec.of State confirmation hearings~1-13-09 

And the two of them are

And the two of them are enough ;+}

For liberal Democrats and the Old Media, everything is crisis, chaos, calamity and catastrophe. That justifies stealing your property and liberties.

Hey Maddow!

If you look at your facts, Bush did inherit a recession from Clinton. Bush turned it around the best he could. However the press, Maddow included, relentlessly said we are in a recession. Eight years we have been preached to by the liberal media that we are in a recession. Given the facts as the media sees them technically this a continuation of Clinton's recession. It  was so bad that eight years later we are still in the same recession.

"Forget change, I want improvement!"

Guess she doesn't know

Guess she doesn't know anything about inertia. (IE the economy wasn't doing fine and in a month Bush had it in a recession. It had been going down hill for months. I mean the dot com bubble burst in 2000. Guess she can't get around to mentioning that.)

Is this miserable woman

Is this miserable woman really this stupid or is she just a chronic prevaricator?

NL... Both. "You've

NL...

Both.

"You've gone beyond the law"... Sen. Kerry~ Head of Foreign Relations Committee to Hillary at Sec.of State confirmation hearings~1-13-09 

I've said it before and I'll say it again...

(S)he has the Lame Duck Watch, here we have the Lame Dyke Watch.  Don't think you can get away with whatever you want Rach.

HEY BUTCH LESBIAN'S WET DREAM

HIT THE SHOWERS AND TAKE BLOWBERMAN AND THE MSNBS STAFF WITH YOU, GETS AIDS AND KICK OFF THIS WORLD!  YOUR TYPES ARE NOT NEEDED HERE!

 

 

The Constitution is NOT a conspiracy theory and the founding fathers are NOT conspiracy theorists!

Are you channeling the mind of Michael Savage ?

Are you channeling the mind of Michael Savage ?

GETS AIDS AND KICK OFF THIS WORLD!

Why don't *you* take those kinds of comments elsewhere?

once again, the left hates

once again, the left hates GWB and staff, no matter what it might be, they are the causation factor. the economy, Katrina,terrorists.

if dissected, each case of blame points the finger, at Senators and Congressman. their inability or lack of competency leave them short, in trying times.

the best example is Katrina vs Ike. Those folks in Texas were hard hit, however the mayors, governor and 1st responders, warned the citizens, and got them out. unlike Katrina, where the mayor, governor, and everyone failed miserably. total incompetence, but once again GWB in DC was at fault. ludacris once the facts come out.

i only wish the best for America, lefties forsake America for their  agenda"hating GWB"

shameful display of patriotism.

each day another example of what the left's mentality can bring, makes me sick!!!

 allow me to Love America