Posted on 06/15/2012 7:06:47 AM PDT by pabianice
Fox quoting Obama as saying it will take ten years to recover from "Bush's recession" and thus he cannot be expected to end it while he's in office.
If I dont have this done [fix the economy] in three years, then theres going to be a one-term proposition. - Barack Obama, February 2, 2009.
The Democrats are saying something like this: We found a big hole that we did not dig. We didnt get it filled in 21 months, but at least we quit digging, Clinton said at the time. Give us two more years. If it doesnt work, vote us out. - Bill Clinton, September 2010
Given the hammering Obama is getting for his economic speech, given yesterday, even from the left wing press, I would say that he’s on track with Carter. For those of you old enough to remember, Carter have a WH speech about malaise and it’s thought it greatly contributed to his eventual routing at the polls. Of course, his abject incompetency helped as well.
With another term from Obama, there won't be anything left to heal.
In other words, obama has admitted he cannot fix the economy.
But the Lame Street Media and his flunkies will carry his water.
LOL
If it weren't for the toxic MSM double standard you'd be right... But the day after Romney's elected, the economic problems caused by Obama will ALL be Romney's his fault.
Those of you who don't hate the MSM yet are not paying attention...
BS obot.
Little barry bastard commie has no intentions of trying to fix a mostly capitalist economy. When he told those drones that ‘we are five days away from transforming America’ he was revealing his intentions to turn this into a european socialist style economy, with thousands and thousadns of extra government ‘workers’ to be paid out of borrowed dollars until the entire system collapses. With four more years I’d say he will accomplish his goals and we the people will still be asking ourselves the set-up questions of doesn’t he understand his approach is not working and how could he be so ignorant?
So let me get this Straight, the evil Bush got our economy back on track within 6 months of 9/11 the single most devastating global economic uncertainty event of my lifetime... However YOU, with 3.5 years under your belt, and 2 years of no opposition in the legislature haven’t been able to do jack?? And its all Bush’s fault?
This is why you don’t send folks who can’t play at the intramural level to the big leagues.
Obama is a pathetically small man, trying to do a big mans job, and failing absolutely completely at it.
Obama seems to forget history. In the late 1970s when inflation was in double digits, unemployment about at current levels and an economic malaise gripped the country all this turned around in less than three years and by 1983 we were seeing GDP growth of 6-8% per quarter. What happened..Reagan stopped all economic stimulus spending, cut the size of government and implemented tax cuts. A Democratic Congress phased the tax cuts over three years or the recovery would have been in a single year.
Why did he take the job if everything was in the tank; regardless of the causes? He was so much the ‘magic knee-grow’; where’s the beef?
Thank you for posting this link. I have been trying to remember when it was that I heard Biden say that it was all THEIR economy now. I recall saying aloud...well they have claimed it now!
bttt
Liar Liar pants on fire...
The Forgotten Depression of 1920
Excerpted...
In order to make sure that this version of events sticks, little, if any, public mention is ever made of the depression of 19201921. And no wonder that historical experience deflates the ambitions of those who promise us political solutions to the real imbalances at the heart of economic busts.
The conventional wisdom holds that in the absence of government countercyclical policy, whether fiscal or monetary (or both), we cannot expect economic recovery at least, not without an intolerably long delay. Yet the very opposite policies were followed during the depression of 19201921, and recovery was in fact not long in coming.
The economic situation in 1920 was grim. By that year unemployment had jumped from 4 percent to nearly 12 percent, and GNP declined 17 percent. No wonder, then, that Secretary of Commerce Herbert Hoover falsely characterized as a supporter of laissez-faire economics urged President Harding to consider an array of interventions to turn the economy around. Hoover was ignored.
Instead of fiscal stimulus, Harding cut the governments budget nearly in half between 1920 and 1922. The rest of Hardings approach was equally laissez-faire. Tax rates were slashed for all income groups. The national debt was reduced by one-third.
Excerpted...
The experience of 19201921 reinforces the contention of genuine free-market economists that government intervention is a hindrance to economic recovery. It is not in spite of the absence of fiscal and monetary stimulus that the economy recovered from the 19201921 depression. It is because those things were avoided that recovery came. The next time we are solemnly warned to recall the lessons of history lest our economy deteriorate still further, we ought to refer to this episode and observe how hastily our interrogators try to change the subject.
But we’ve been out of the Bush recession for years now.
Had three Recovery summers and green shoots.
Oh wait this is Obama, he gets to play it both ways, especially in an election year.
And it was one year ago that DWS put it like this: We Own The Economy.
Well, he got this part right.
Obama Admits He Can't Fix What Bush "Broke", So Why Reelect Him?
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