Bad Bush (GOP, Congress, Washington) , Good Obama
by Toda • 5 February, 2013 • Economy, Politics • 2 Comments
Endless arguments continue regarding Obama’s success in either helping or hindering the “Recovery” from the financial crisis brought on by decades-long policy failures regarding the Housing Markets/Financial Regulatory failures. The most recent argument is the “rate of change” that has occurred during Obama’s first four years.
I liken that argument to two runners in a race. The first one has a great race then stumbles dramatically at the end of the race but manages to finish the race with a very respectable World Class time. The second runner begins his race with a history of handicaps and encumbrances (he is the darling of the under-dog fans) but manages to finish the race making remarkable progress in spite of his disadvantages and finishes the race with a flurry of bravado. His time is substantially less than the previous runner but is heralded as a much better competitor. Was he? That all depends how you rate the runners. If winning times are ultimately valued (that is how winners are decided in the world of competition) then the first runner is decidedly the winner. If the criteria of overcoming difficulties and simply finishing are of higher value, then the second runner is your winner. The record books won’t show the latter runners’ effort or difficulties overcome, only his stats.
When the statistics are compared (here), Obama’s record must be judged on: record numbers in Poverty, on Food Assistance, Unemployed, Underemployed, out of the Job’s Market, the GDP, the National Debt, deficit Budget spending and Inflation. To those immediately affected by those numbers, feeling sorry for poor President Obama brings little solace. Where is the Press on this? Crickets, that’s where.
He can claim that he inherited this mess but think about it. Was it really this bad in 2008? The typical recession lasts 2 years. Obama’s media lapdogs can call this a recovery but seriously, it’s not, it’s been a virtual 4 year recession. Furthermore, it’s gotten “progressively” worse (excuse the pun) to the point where last quarter we had NEGATIVE growth. Another quarter like that it it will be official, double dip recession.
Finally, there is nothing, nothing on Obama’s policy agenda that he can even pretend is aimed at stimulating the economy. He doesn’t even seem to give a crap. What that means: expect this defacto recession to drag on another 4 years. And even if a Conservative is elected in 2016, it could take between 2 to 4 years for his policies to finally break the malaise and get people back to work.
10 to 12 wasted years of no prosperity or meaningful growth. It’s like the country came to a grinding halt. And all those middle class folks who might have just been building a nest egg and feeling financially secure have been beaten back into poverty from which they may never recover. Their lives and dreams broken beyond repair.
It’s enough to bring a hardman to tears.
6 and 7 years ago I was always telling CPC, these are the good old days and that people would one day think back to how good they had it.