August 8, 2011 12:27 am at 12:27 am #598490Ben LeviParticipant
I was wondering why people fail to see what is going on right in from of them.
Let’s go back in history a drop.
When Goerge W. Bush came into power the economy faced a recession as a result of the dot-com bubble bursting, coupled by a rash of corporate scandals (remember Enron?) and throw the terroist attack that hit the heart of America’s Financial Center and the economy really looked bleak.
Bush’s solution was to pass his Bush Tax Cuts.
The results that followed were prolonged period of economic growth. So profound that most people do not even remember that Bush inherited a recession that was made worse by factors out of his control!
Unemployment went down to around 4% which many economists argue is basically full employment.
Now yes the deficit exploded and a lot of spending should not have happened and if Bush had not tried to be bipartisan. Still due to exploding revenue the deficit came in under proections on virtually a yearly basis and continuosly shrunk every year until his final one. (remember who cosponsored his education bill? Ted Kennedy)
Now enter Barack Obama he also inherits a recession. Yes, a deeper one, yes a more problematic recession, but it was not a Depression and was no where near the levels of unemployment we are at now.
He then does the exact opposite of Bush, caoles Congress to pass a trillion dollars in stimulus funds with the promise that it will stop unemployment from rising above 8.5%.
oops! did’nt work, So he says he underestimated the recession.
Remember unlike Bush He got everything he wanted since He had super-majorities in both houses.
He then passes his Healthcare bill over BiPartisan opposition and throws in another stimulus bill.
Was he finished?
He then dpubled down on environmental regulation “to save the world and help the oceans begin to rise”
Millions opon Millions of Americans remain out of work.
Many of them our reletives.
The economy continues to grow at an anemic pace.
The Tea Party Republicans come in with a fairly radical agenda.
Lets do what works.
Lets not imitate the policies of FDR that never solved the Depression (it was around 10 years long!) lets copy Reagen who statisticaly speaking inherited a worse economy then Obama and turned it arounf by cutting taxes accross the board and doing Tax Reform.
When will we ake up and realize.
It’s not radical.
It is the only thing historically that has ever worked.
If the people in office won’t do it.
Then golly it’s time to get someone who will.
Doubling down on whats failed is not Bipartisanship. It’s called doubling down on failure.August 8, 2011 12:30 am at 12:30 am #795337StamperMember
We are about to start a double-dip recession.August 8, 2011 12:45 am at 12:45 am #795338deiyezoogerMember
And keep in mind that the unemployment rate is now calculated difrently then when Obama came into office, using the old system the unemployment rate would now be at 11.9% and the underemloment rate at almost 20%.
Obama is the first president in a long time with ZERO executive expirience.August 8, 2011 5:30 am at 5:30 am #795339aries2756Participant
Yup, he changed things didn’t he?August 8, 2011 4:44 pm at 4:44 pm #795340HealthParticipant
Have you noticed that most of his lib defenders aren’t saying anything much this time, esp. here on YWN? Because the market is crashing and this would never have happened under a Republican Pres.August 8, 2011 4:50 pm at 4:50 pm #795341HealthParticipant
Stamper -“We are about to start a double-dip recession.”
More like a depression.
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