Saxby Chambliss Misquotes Alan Greenspan While Defending Confused Recession Comments

Saxby Chambliss clearly wasn't listening to Alan Greenspan in April, when Greenspan clearly believed the economy was "in the throes of recession." Additionally, many, many sources believed the economy was in a recession before the summer.

Chambliss Said His Recession Comments From July Were Taken Totally Out Of Context And That Last Spring He Was Saying The Same Thing Alan Greenspan Was Saying. Interviewer Randall Savage made the point that Mr. Martins campaign was running an ad that criticized Saxby Chamblsss comments saying that he didnt know what the term Recession meant, and was asked what led him up those remarks? Chambliss responded, Yeah it was about a forty minute speech I gave and he took two sentences out of it. You know, I was saying the same thing Alan Greenspan was saying, and hes a pretty smart economist. And what it had reference to, you have to think back to the spring when that film was taken, ah, nobody knew whether we were in a recession. There were all kinds of definitions being thrown out about a recession, ah two months of negative GDP was characterized as being recessionary—well we hadnt had two months of a negative GDP. And, you know, as is typical of the ads that have been run against me, there again, it was taken totally out of context and Mr. Martin has no shame about when it comes to running those kinds of statements. [Interview, 11/19/08]

July 2008: Saxby Chambliss We May Not Be In A Recession—I Dont Know What That Term Means. At a campaign event, Saxby Chambliss said, Were in the midst right now of a couple different crises, all of, both of which are affecting our economy. Certainly, we may not be in a recession—I dont know that that term means—but I do know this: I know that were in a very sluggish economy today, and I know that there are people out there who have lost their jobs, I know that there are people who are struggling month-to-month to meet their family budgets because of high gas prices. [Saxby Chambliss, (Cumming, Georgia), 7/12/08]

April 2008: Greenspan, Economists Said The U.S. Was In The Throes Of Recession. In an April Wall Street Journal survey of economists, three quarters of respondents said that the weakening U.S. economy had further to fall, and by a 3-1 margin said that the economy was in a recession. Former Federal Reserve Chairman Alan Greenspan said at the time that the economy was in a recession, although he said it is too soon to say how deep or prolonged the downturn will be. Consumers are beginning to shrink in, the automobile markets are beginning to contract, production is beginning to ease, and we are in the throes of recession, Greenspan said in an interview. [Reuters, 4/8/08; WSJ.com, 4/10/08]

April: WSJ: Joblessness And Unemployment Numbers Signal "Unmistakable Recession." Reacting to job loss numbers, Bear Stearns said, "Clear and unmistakable recession signals from the labor marketThisunemployment rate has never occurred in the post-war period without the economy being in recession." [Wall Street Journal, 4/4/08, blogs.wsj.com]

April: Citigroup: Economy Is In Recession. An economist from Citigroup said that, "despite continued protestations from some, the U.S. economy is in recession. GDP likely grew slightly in the first quarter, but employment, production and other more relevant data show declinesdomestic industries retrench." [Wall Street Journal, 4/4/08, blogs.wsj.com]


June: A Growing Consensus Among Economists Say Recession Hit Early 2008 or Late 2007. Economists say that the current job losses and problem of rising unemployment will come to an end sometime in 2009. And that will be perfect timing for whoever has moved into the Oval Office And even though the gross domestic product, the broadest measure of the nation's economic activity, was up at a modest 1% annual rate in the first quarter, a growing consensus among economists is that the economy fell into a recession either in late 2007 or early this year. [CNN Money, 6/30/08, money.cnn.com]

August: Decision Economic Inc Chief Economist: Were In A RecessionIts Going To Widen, Its Going To Deepen. Decision Economic Inc. Chief Economist Allen Sinai said, We're in a recession. It's going to widen, it's going to deepen. [Bloomberg.com, 7/31/08, bloomberg.com]

Category:

News & Politics

Tags:

• Saxby
• Chambliss
• Alan
• Greenspan
• Recession

[Richardgwm]

Republicans wear ignorance like a badge of honor. And after all the controversy, Chambliss still doesn't get it right.

A recession is defined as two consecutive QUARTERS of negative growth, not two MONTHS.

[kdcinatl]

If only Max Cleland would run this man over with his wheelchair....

[charmchain]

Chambliss should go on a hunger strike until all jobless Americans have found gainful employment.

[juanmanuelsotoarg]

saxby chambliss is a draft evader...and now he is giving his opinion on gays who want to serve their country...

look at his face-- he takes it up the butt too

[Lane4411]

What a loser

job losses,

through the roof begginning late 07

[BerPC96]

to bad he fucking is worthless and I voted for him like a tool by by Republicans hello third party

[JimmyJackJohnnyJose]

Jim Martin, Democrats and Obama's agenda is to give citizenship to 12 Million illegals.

Vote for Saxby Chambliss. Save America!!!

[JimmyJackJohnnyJose]

Saxby Chambliss won on Nov 4th. Vote for him again. He is the true winner of the GA Senate race.

[AgnesBojaxhiu2000]

chambliss is a fraud ... calls in the queen of fakes ... palin ... she swears that she is the energy expert and likes people chanting drill baby drill ... she want to drill in anwr and arches national park and monument valley too ... but then oil dropped from $160/barrel to $45/barrel in the ... the rushies will tell you that they are all about the free market and that the price drop was caused by 3% drop in demand and because obama won the election .. but gm's at $1.75/share ... going bankrupt

[vixvix801]

chambliss more like shameless! This guy smells of corruption i. e. the sugar factory scandal makes piss poor excuses on trying to defend himself because he doesn't know wtf a recession is or means he runs a dirty and low hateful campaign add on the internet he wouldnt dare air on TV this guy is a real SOB!

[haril007]

LAWL PWNED!

[AgnesBojaxhiu2000]

Chamliss is fraud ... calls in the queen of fakes ... palin ... that's why their hero joe the plumber who has no plumber's license and owes tons of back taxes ... they guy should in the slammer ... and what about the junk loans sharks ... their bushie govt regulators should put those sharks in jail too ... they are still on the loose still making tons junk loans for more billions more of tax payer bail outs ... see the cover story in the 12/1/08 business week magazine