Opinion: Obama tells a big whopper about his economic record

Market Watch ^ | June 20, 2016 | Michael J. Boskin

[expat_panama]

...Churchill once boasted that, “History will be kind to me, for I intend to write it.” ...

 

...Today, it is President Barack Obama’s turn to attempt to define his legacy, as his presidency winds down and attention turns to the election of his successor. And he has already been busy. During Obama’s recent visit to Japan for the G-7 summit, for example, he became the first sitting U.S. president to visit Hiroshima, devastated in 1945 by the nuclear attack ordered by President Harry S. Truman to avoid a ground invasion and hasten the end of World War II.

Obama has also been touting his economic accomplishments, claiming he prevented another Great Depression. He has said that his Recovery Act stopped the unemployment rate from soaring to 30% — five points higher than what it was at the peak of the Great Depression.

That is a priori nonsense. Obama’s own advisers have estimated that his stimulus package prevented a rise in unemployment of one percentage point at peak unemployment, not the 20-percentage-point increase...

...interesting that Obama feels the need, as his days count down, to glorify his actions...

...to see how he uses his intelligence, eloquence, and experience after his retirement...   ...Ronald Reagan and George H.W. Bush, mostly let others do the talking and writing. Both seemed comfortable with what they had accomplished and what they had to leave undone; and both grew in stature and popularity with time....

...Sometimes there is a clear connection between a leader’s policies and the condition of a country during his or her tenure. I will not disagree with a historian who determines that Venezuela was eviscerated by President Hugo Chávez’s populist socialism and economic illiteracy.

[nickedknack]

Dog bites man = Obama tells a lie

[The Sons of Liberty]

Opinion: Obama tells a big whopper about his economic record

0bama gets away with praising his abysmal economic record, despite a record number no longer in the workforce and record numbers on food stamps, because his regime publishes phantom economic statistics and the media refuses to correct them.

[expat_panama]

Good morning!!!  Neat how major stock indexes jumped up yesterday, tho they'd been a lot higher earlier and then lost a bit --all in fading volume.  Gold & silver are winding down after running up against the top of their chosen trading ranges --now at $1,275.03 & $17.32.  Futures traders seem to be positive all around now, +1.31% for stock indexes and +1.60% for metals.

Much happening elsewhere:

Thank You FedEx, For Standing Up to the Feds - Copland & Mangual, RCM
How Money Fears Could Swing Election - Carl Richards, New York Times
Switzerland Mocks Monetarists, and "Money Supply" - John Tamny, RCM
Why Uber Keeps on Raising Billions - Andrew Ross Sorkin, New York Times
Job-Killing Red Tape Only for Them, No For Me - Veronique De Rugy, TAS
In Federal Government, All Workers Above Average - John Merline, IBD
Private Jets Are Increasingly Best Way to Fly - David Fickling, Bloomberg
How Fear Helps Gun Business Make a Killing - Evan Osnos, New Yorker

[mbynack]

He also stopped an alien invasion. He prevented six earthquakes. He prevented a worldwide famine. He prevented two tidal waves in Nebraska. He prevented the extinction of mosquitos in Florida. He kept Global warming in check during his two terms. He made the sun rise and set on May 11th.

Prove me wrong.

[Pearls Before Swine]

interesting......to see how he uses his intelligence, eloquence, and experience after his retirement... ...Ronald Reagan and George H.W. Bush, mostly let others do the talking and writing.

Obama will get Ayers to do the writing, as he has before. Or, he'll find another golden-pen ghost-writer. He will however, do his own talking, non-stop.

[Farmer Dean]

Always lying,lacks the ability to tell the truth about anything.

[hal ogen]

The legacy of this freak is set: anti-Free-American traitor and destroyer of civilization.

[Kahuna]

Just remember.....Jug Ears says that has been to 57 States. Why would anyone challenge this man of wisdom and veracity?

[Armando Guerra]

Gee, I wonder what Politifact will rate this one, “mostly true?”

[clearcarbon]

What was it the Bible taught about those who exalt themselves? I guess humility is something hussein can learn in jail or exile.