Other People's Money

IBD Editorials ^ | September 4, 2009 | INVESTORS BUSINESS DAILY Staff

[Kaslin]

Economy: The jobless rate has hit a 26-year high. More than 200,000 jobs were lost last month. Yet the White House continues to claim its stimulus legislation is working. When does the charade end?

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The unemployment rate reached 9.7% in August, up from 9.4% in July, the worst we have seen in this country since 1983, when Ronald Reagan was wrestling with the economic mess. While Reagan's policies eventually moved the country out of the recession and set off unprecedented growth, it's unlikely the Obama administration will be able to do the same thing.

Rather than letting the private sector create jobs and wealth, as the Reagan White House favored, this administration, with the help of the Democratic Congress, has taken money from the private sector — $787 billion — and tried to boost the economy with government spending. It hasn't worked — and it won't work in the future.

Sure, America's economy will eventually rebound. Its free-market foundation is strong enough to withstand even the wildest left-wing attacks — as long as the attacks are followed by corrective policies. But the recovery won't be due to Washington's stimulus.

The facts won't stop the White House from trying to convince the public otherwise, though. Ever in denial, Vice President Joe Biden said Thursday the stimulus is "doing more, faster, more efficiently and more effectively than most expected."

[Kaslin]

[Ev Reeman]

REagan came into office in much the same was as Obama because of both economic and terrorism issues. However, Obama’s approach is decidedly not Reagan’s. It was Reagan’s policies that caused one of the longest sustained economic growths in this country’s history. In fact if anything it is anti-Reaganism in both concerns which is why the country has yet to even begin to recover from the recession and indeed the prospect of a depression grows ever more likely with every single passing day especially when the inevitable inflation hits the fan and the unsustainable staggering debt our country is accumulating. Combine that with the fact that Obama is playing up to dictators, tyrants and international thugs around the world and you have the makings of the worst presidential administration in American history. In fact, it makes the Carter years look like a cakewalk by comparison.

[Ev Reeman]

REagan came into office in much the same was as Obama because of both economic and terrorism issues. However, Obama’s approach is decidedly not Reagan’s. It was Reagan’s policies that caused one of the longest sustained economic growths in this country’s history. In fact if anything it is anti-Reaganism in both concerns which is why the country has yet to even begin to recover from the recession and indeed the prospect of a depression grows ever more likely with every single passing day especially when the inevitable inflation hits the fan and the unsustainable staggering debt our country is accumulating. Combine that with the fact that Obama is playing up to dictators, tyrants and international thugs around the world and you have the makings of the worst presidential administration in American history. In fact, it makes the Carter years look like a cakewalk by comparison.

[EVO X]

REagan came into office in much the same was as Obama because of both economic and terrorism issues.

What your forgetting is that Democrats have to lie in order to get into national office. Obama lied his ass off and an uninformed public bought it hook, line, and sinker. Independents and Rinos are the ones that really got snookered..