Posted on 10/08/2012 2:01:29 AM PDT by Cincinatus' Wife
In making his case for re-election in the face of historically high unemployment and sluggish growth, President Obama has a simple and straightforward argument.
Things were terrible when I arrived, he says, thanks to Bush-era policies of tax cuts and deregulation. We stopped the decline, but the ditch was so deep that it will take time to get out. Still, we are making progress, even if it isn't as fast as everyone would like.
So the last thing we want to do is return to the failed Bush policies that, he says, drove us into the ditch.
That argument appears to be working. More people continue to blame Bush than Obama for the current poor state of affairs, and some surveys show that consumer confidence has recently increased.
But each part of Obama's argument is based on claims that are not accurate:......
• Bush tax cuts and deregulation caused the recession.
[SNIP]
• I stopped a second Great Depression.
[SNIP]
• My policies are working.
[SNIP]
• A slow recovery was inevitable.
[SNIP
• Nobody could have done any better.
[SNIP]
.....To get a sense of how dismal Obama's recovery has been, consider this: Since World War II, there have been 10 recoveries before Obama's. Had Obama's merely performed as well the average of all those recoveries, the nation's GDP would be a staggering $1.2 trillion bigger than it is today, and 7.9 million more people would have jobs.
(Excerpt) Read more at news.investors.com ...
DirectorBlue puts Obama's problem into perspective with a devastating comment ["Single Graphic Obliterates the Obama-Axelrod-Cutter Economic Talking Points"] and chart:
As Investors Business Daily puts it, President Obama's case for reelection rests on five economic claims, every single one of which is false. Every. Single. One."
Another excellent article posted by Cincinatus’ Wife!
It’s crunch time! :)
Good article! Thanks for posting.
Bump
Good post.
I tried to find some background on the writer, John Merline, but all I found was a list of publications he’d written for. Couldn’t find any kind of a bio listing his education, etc.
Odd.
THIS WE KNOW Giving/loaning $$$$billions to useless companies is the way Ohaha is financing his reelection.
Solyndra's books and financial activities should be scrutinized to see what offshore banking havens they wired govt money to.
THIS WE KNOW Giving/loaning $$$$billions to useless companies is the way Ohaha is financing his reelection.
Solyndra's books and financial activities should be scrutinized to see what offshore banking havens they wired govt money to.
THIS WE KNOW Giving/loaning $$$$billions to useless companies is the way Ohaha is financing his reelection.
Solyndra's books and financial activities should be scrutinized to see what offshore banking havens they wired govt money to.
AND HE SAID IT AGAIN IN THE DEBATE Remember his stupid SOU speech? Sounding like "he just took office" in January 2011 with a Republican congress.....but not him.....was that 2008 (Republican POTUS and Republican congress who screwed everything up.
Therefore Ohaha couldn't fix EVERYTHING with the Republican congress blocking all his GREAT ideas.
NO MENTION of the years Democrats controlled everything---and nothing got done---unless you count Congress getting rich on insider info (/snix).
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In a fair accounting, President Obama is responsible (along with the then-Democratic Congress) for the $1.3 trillion in deficit spending in 2010 and the estimated $1.6 trillion in deficit spending in 2011. He [Obama] should not get credit, moreover, for the $149 billion in TARP (Troubled Asset Relief Program) repayments made in 2010 and 2011 to cover most of the $154 billion in bank loans that remained unpaid at the end of the 2009 fiscal year—loans that count against President Bush’s 2009 deficit tally.
The Treasury Department says that all but $5 billion of the TARP bank loans has now been repaid. The portion of repayments that was for loans issued in 2009 should be deducted from Bush’s deficit tally, not credited to Obama as deficit savings. There is some astounding number crunching in this article, and a chart of modern day president’s “average annual deficit spending” ........a frightening conclusion of what happens if Obama has an 8 year term.
ping for later read
Great graphic. Thanks for posting it.
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