Re: OT - Obama has worst job recovery record in 12 recessions



Hachiroku ハチロク wrote:

On Thu, 26 May 2011 15:53:49 -0700, larry moe 'n curly wrote:

Unemployment was 4% under Bush, 8-9% under Obungler

It was 4.2% during his first two months in office and was never as low
again. When he left, it was 7.6%, almost all because of his
ineptitude.

Really? Prove it.

I can prove it to honest, rational people but not to you. GW Bush's
economic policy consisted of just tax cuts, near-zero interest rates,
and laissez faire when it came to regulaton of the financial markets.,
but that finally blew up in 2007, when the stimulus from tax cuts and
near-zero interest rates ran out of steam and the financial sector
collapsed because of credit default swaps. And it didn't help when
TARP was badly conceived and didn't require that banks lend out the
money they received from the federal government, so credit dried up
for small businesses.

"But the new budget doesn't start until October! GW Bush was
operating under Clinton's budget until then!"

OK, then Bill Clinton started with 6.6% and ended with 5.5%.
Similarly, GW Bush started with 5.5% and ended with 10.0%.

You've admitted that you won't be objective about Obama and will hate
him no matter what. IOW you're saying you can't be trusted.

I can be trusted.

Anybody who claims to be trustworthy isn't trustworthy. You're like
Tom DeLay when he said, "I am an honest man." You're both legally
convicted liars.

However, as someone in the local paper said, "and I
don't want to hear the 'it's Bush's fault' mantra again. It's time for
Obama to start owning some of his own mess."

This is Obama's mess just as the inflation and recession of 1981 were
Reagan's mess. IOW both presidents inherited terrible situations they
didn't create. Put the blame where it belongs, on Lyndon Johnson
(Vietnam war), Richard Nixon (price controls), Arthur Burns (Nixon's
highly political Fed chairman), and OPEC (oil shock) in the case of
Reagan's mess, and on GW Bush for Obama's mess.

.

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