Www.buschistory.net Topic 30. The 2000 Pres. Election was too close to call Florida’s 25...
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Transcript of Www.buschistory.net Topic 30. The 2000 Pres. Election was too close to call Florida’s 25...
www.buschistory.netTopic 30
The 2000 Pres. Election was too close to call Florida’s 25 Electors were in dispute Two recounts occurred - challenger Al Gore
wanted a third Gore V. Bush – The Supreme Court ruled
that Florida had to stop counting and award their electors. The decision was “non-precedent setting.”
The networks giveth and the Networks take away
A new word came into vogue – Chads! (Dangling, pregnant, and of course - dimpled
September 11 2001, •19 militants associated with the Islamic extremist group al-Qaeda hijacked four airliners and carried out suicide attacks against U.S. targets. •Two planes were flown into the towers of the World Trade Center, a third plane hit the Pentagon, and the fourth plane crashed in a field in Pennsylvania. •2,977 people were killed in the combined attacks
Response to terrorist attacks
Led to wars in Afghanistan and Iraq
Patriot ActHuge Deficit and Debt
Greatly expanded surveillance and law enforcement procedures
Civil Liberties were questioned
Created the Department of Homeland Security
Oct. 7, 2001 – U.S. began bombing
Attacked Al-Qaeda camps and the Taliban (supporters of bin Laden)
Afghan War Facts
$403B as of April 2011 (CBO)
$3.6 B Monthly (CRS 2011)
Cost of deploying one U.S. soldier for one year in Afghanistan - $1 million (Congressional Research Service)
US Troop Casualties – 1,562 (DOD May 2011) Wounded – 11,314 (DOD May 2011) Total US Troops in Afghanistan – 94,000 as of May 2011
March 20, 2003 – U.N. coalition forces (led by the U.S.) invaded Iraq
May 1 2003 – Mission Accomplished speech
Based on faulty intelligence that Iraq had weapons of mass destruction
Used chemical weapons against the Kurds in Iraq
Feb. 5, 2003 Testified before the
UN that Iraq had weapons of mass destruction
Later regretted the speech
https://www.youtube.com/watch?v=5QfSZ9VDN4U
Troops in Iraq –
Total May 2011 - 47,000 U.S. troops. All other nations have withdrawn their troops. (May 2011)
U.S. Troop Casualties – 33,186 US troops; 98% male. 91% non-officers; 82% active duty, 11% National Guard; 74% Caucasian, 9% African-American, 11% Latino. 19% killed by non-hostile causes. 54% of US casualties were under 25 years old. 72% were from the US Army (Global Security.org)
US Troops Wounded - 30,182, 20% of which are serious brain or spinal injuries. (Total excludes psychological injuries.) (Global Security.org)
US Military Helicopters Downed in Iraq - 75 total, at least 36 by enemy fire (CBO 2010)
U.S. SPENDING IN IRAQ since March 1, 2003
About $900 billion as of November 2010. (CBO 2010)
Lost & unaccounted for in Iraq - $9 billion of US taxpayers' money and $549.7 milion in spare parts shipped in 2004 to US contractors. Also, per ABC News, 190,000 guns, including 110,000 AK-47 rifles.
Missing - $1 billion in tractor trailers, tank recovery vehicles, machine guns, rocket-propelled grenades and other equipment and services provided to the Iraqi security forces. (Per CBS News on Dec 6, 2007.)
Mismanagement - $10 billion, per Feb 2007 Congressional hearings
Cost of deploying one U.S. soldier for one year in Iraq - $390,000 (Congressional Research Service)
Dec. 2007- June 2009 Housing Bubble Burst – Sub Prime Crisis
◦ Irresponsible lending to encourage home purchases
◦ Inflated housing prices collapsed◦ Adjustable Mortgages outpaced earning power◦ The “Upside Down Mortgage”◦ Unable to pay, many just walked away
◦ How would this impact on the economy?
Banks Lost Billions Loss of available Credit Loss of Spending – Consumption Loss of Business investment Unemployment Skyrocketed 8.4 Million jobs lost – most since the Great
Depression
Republican – John McCain
Democrat – Barack Obama
First African American president
TARP (Troubled Asset Relief Program) October 3, 2008 - $700B authorized to invest in Non-Bank financial institutions – JP Morgan/Chase
As of Dec. 2012 – 97% of the actual $418B dispersed has been repaid – CBO
Tough Election Year sell – McCain v. Obama
The Domestic Auto Industry – greatly impacted by the loss of credit, high unemployment, high fuel prices, and losses from investments
GM and Chrysler teetered on total failure
17M cars sold 2008 - 10M sold 2009
Dec 2008 – Bush Administration allocated $17B in loans and gov’t purchase of securities on Chrysler and GM
Spring 2009 – Chrysler and GM file for Bankruptcy protection.
http://visualeconomics.creditloan.com/a-detailed-look-at-tarp/
Capitalism V. Socialism
Government Intervention
Deficit and Debt
Credibility of the Banking System
http://www.brillig.com/debt_clock/
Deficit and Debt
The Outstanding Public Debt May 11 2011 at 02:40:53 PM GMT and April 13, 2014 5:35 PM GMT
The estimated population of the United States is 310,547,549
so each citizen's share of this debt is $46,152.74. The National Debt has continued to increase an
average of$4.03 billion per day since September 28, 2007.
From the largest Surplus to the largest debt in US History
The Presidents
Comparing Deficit and Debt
Unemployment
Taxes paid by the top 10% of income earners since 1913
Taxes and the Budget Our Friends
Democrat Republican
More Activist Government
Direct help to the people and the economy through government action and investment in the economy
Tax increases on the wealthiest Americans to support government actions
Less government intervention in the economy
Lower Taxes The “Job Creators”
must not be burdened by excessive taxes or government regulations