Originally Posted by pgviper
I got through most of this thread and I found a lot of it extremely informative. My only concern is from the two statements quoted above.
As I have learned, there are many factors that result in a recession however the leading cause is inflation. An increase in the price of goods and services over a certain period of time. Higher inflation results in decreased goods and services produced for the same amount of money. Inflation is also caused by increase production costs, increased energy costs and national debt. Essentially I am saying that:
A = national debt
B = inflation
A -> B -> C
According to your first statement, the president has no control over the economy and cause of this recession however in your second statement, Bush is responsible for a significant increase in national debt. According to my logic and your knowledge, Bush would then be responsible for the recession however this would be a contradiction to what you initially mentioned.
What I am trying to understand is how you justify writing your second post after writing your first without contradicting yourself.
While the level or rate of US debt has an effect on the sustainment of our economy, it doesn't directly contribute to recession conditions, other than it's effect on the GDP equation. Reagan nearly tripled US debt during his presidency, yet we ended in a period of expansion.