Pelosi: If the GOP had won in 2008, we'd be in a depression with 14.5% unemployment

[scheming daemons]

Had the Republicans taken control of Congress in 2008, the country would have sunk into a depression, House Speaker Nancy Pelosi (D-Calif.), told CNBC Thursday.

“If we had not won re-election and intervened, we would be in a depression,” said Pelosi.

.
.
.
She said the public is in a “bad mood,” because of the widespread unemployment throughout the country. The current national rate is at 9.6 percent, a figure she said would have been at about 14.5 percent had the Congress and the administration not added incentives and programs to boost the economy.

.
.
.

http://www.cnbc.com/id/39220626

[bushisanidiot]

1. She's EXACTLY right!!

And I'm sick and tired of people saying that she should not be making that argument.. as if it DOESN'T MATTER.

It DOES matter. People need to stop and think about what it would have meant if the republicans won.. and what it would mean if they gain control in November. Does anyone deny that if Al Gore had won in 2000, that our surplus wouldn't have been squandered and we wouldn't be in the mess we're in now??

Thank, Ms. Pelosi, for stating the obvious.. because SOMEONE HAS TO SAY IT!!!

[Denninmi]

10. No, actually, she's wrong about one thing.

I know the rabid right loves to hate the Speaker, and I personally think she's a most effective and rational leader, doing a very good job under very bad circumstances. And, I usually agree with her.

But, she is wrong about one major point in this situation.

If the Republicans had been in control for the past two or four years, unemployment would probably top 25% in the US. For one thing, there would have been no assistance of any kind to the US auto industry, and that would have caused the direct loss of an additional roughly 5 million jobs, and the indirect loss of probably another 15 to 20 million as shockwaves rippled through the entire economy.

[bushisanidiot]

11. I think the republicons would have bailed out the auto industry, because

the oil industry depends on them to drive consumers' thirst for oil.. and republicons depend on the oil industry to give them kick-backs for their campaigns.

However, repulicons would NOT have come up with cash for clunkers, which was a boon to the auto industry, so the republicons would have just been feeding more and more money to the big auto makers to keep them alive.

[NJmaverick]

2. K & R!

[NightWatcher]

3. how far are we from that? 10% unemp (18-20% under emp), record poverty, foreclosure, foodstamps.....

gee thanks for saving us 2 or 3 percentage points.

[jsamuel]

4. we are at 9.6%

That would be a 50% increase in unemployment. You really think that is no big deal?

[HiFructosePronSyrup]

5. 14.5 - 10 = 4.5

You'll get to decimal points at a higher grade level.

More to the point, 4.5% unemployment difference is huge.

[Unruly]

6. Pelosi . . .

. . . knows this how? It is not the season for self-serving hypotheticals from Pelosi.

[jsamuel]

8. the GOP was against the stimulus

the GOP was against payments to the states to keep police, fire fighters, teachers, ect.

the GOP was against unemployment extensions.

etc...

[unblock]

9. it's campaign season! the very definition of the season for self-serving hypotheticals!

though this one is grounded in analysis from the cbo, i believe.

[scheming daemons]

12. Ahem... "welcome to DU"

:eyes:

[ClarkUSA]

7. Keep pounding that message through, Nancy. nt