Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
I was the governor that drew a tough, tough straw. I was governor during the worst recession since the 1930s, and I had to cut $5 billion from the state budget.
Nobody’s profitable at this moment, because recession is on; advertising dollars are down, and expenses are way up. So that kind of belies the situation that you would expect, because the ratings are way up everywhere.
A lot has happened over the years. And while this nation has been tested by war, and it’s been tested by recession and all manner of challenges – I stand before you again tonight, after almost two terms as your president, to tell you I am more optimistic about the future of America than ever before.
‘Up in the Air’ may be a glossy production sprinkled with laughter and sex, but it captures the distinctive topography of our Great Recession as vividly as a far more dour Hollywood product of 70 years ago, ‘The Grapes of Wrath,’ did the vastly different landscape of the Great Depression.
For years, we’ve grown dependant on American consumers as the world’s spenders of last resort. They’ve kept Europe out of recession, allowed China to industrialise, and prevented global deflation. But at the same time, they’ve not been looking after their own futures.
Millennials are a very interesting generation for a lot of reasons. They’re absolutely adorable, but they have some significant challenges. Their lives and their careers are delayed by about 10 years, partly because of the recession, also because of technology and also because of the way that they approach things.
When it comes to America’s economy, the truth is that Mitt Romney believes that the key to our country’s economic future lies in the failed policies of the past, the same ones that put banks before people, Wall Street before Main Street, plunging us into recession and devastating the middle class.
New York never felt the recession. New York never felt a depression.
I don’t think there will be a recession as a result of a vote to leave.
A robust, sustainably funded unemployment insurance system is Connecticut’s most important tool for keeping our families out of poverty and our economy in motion during a recession.
We must not let the panicky Wall Street wheeler-dealers and the Trump-hating establishment state media talk us into a recession. We must keep the focus on the real economy, not the fake economy.
The financial crisis and the Great Recession demonstrated, in a dramatic and unmistakable manner, how extraordinarily vulnerable are the large share of American families with very few assets to fall back on. We have come far from the worst moments of the crisis, and the economy continues to improve.
