No there wasn't a Carter "recession", the labeled term of economy in that era was "stagflation", a stagnant economy coupled with inflation--AND a MAJOR OIL embargo (due to mid-east dependency).<quoted text>
So there was never a Carter recession?
Bush's unfunded spending, Bush's unfunded tax cuts, Bush's unfunded wars had nothing to do with it.
It was all because some gullible people believed their bank when they said they could afford that mortgage.
But ya know what, there were still JOBS...because I had about three or four over the course of those years lol.
I don't think "gullible" is an appropriate term either. IGNORANT seems more apropo (even if it isn't a very nice descriptive). Should banks (or ANYONE) take advantage of people like that? NO-and shame on those who do! BUT, therein again-we arrive back to the concept of people accepting PERSONAL RESPONSIBILITY for that which they two-step willing into themselves as well.
And for the umpteenth time---WE did NOT "start the fiyahs"..."they were always burning since the world's been turning" (to quote Billy Joel). My God duh A Vey, are you not old enough to remember the oil wells Saddam set afire in the early 90's, and are you that blind as to ignore the FACTS of all the bin_laden initiated pre-9/11 terrorist attacks??
KEYSTONE Duh A Vey?
The oil has to roll from somewhere...might as well be northern continental. LESS hassle that way.