Look at the evidence. Depression averted. U.S. auto industry saved. And check out the stock market and unemployment rate when President Obama took office vs. today. Data speak. Volumes.
The stock market is a horrible indicator of how successful the policies of the president are. Look at the stock market during Bush’s years. In 2007 you could have said Bush was one of the best presidents ever if you go off stock market data, and I assume we both agree he was far from being one of the best. The stock market doesn’t follow reality. It can burst like a bubble just like the housing market did.
It is easy to spend trillions of dollars that we do not have to artificially prop up the economy, but any day now it could come tumbling down. When Obama took office the debt was 10.63 trillion, now 3 years later it is at 15.26 trillion. That is 4.6 trillion dollars of debt increase in only 3 years. The total debt divided by the entire U.S. population is $50,000 per person. Add yearly interest onto that and that is a monumental debt to pay off.
We are doing bail outs left and right, the auto industry, the banks, Greece, the EU. We do not have the money to do these things. We have to pay the piper sooner or later and Obama is just putting off the pain, but it is going to be a lot worse when we eventually do have to pay it. So if you agree with Obama that we should spend money we don’t have to put off the pain, then I agree, the data does speak volumes that he is successfully doing that. I on the other wish to get the economy, debt, and government spending under control now, before an economic disaster forces us to. Because if that disaster happens we will wish we had lived in the days of the great depression instead of the great collapse.
Oh and the true unemployment rate is much higher than the government would have you to believe. If you look at the real data, it is on the rise around 11.4%. The number the government puts out conveniently doesn’t include people who have left the labor force due to inability to find a job. If you believe he has the unemployment situation under control you have been misled.
I wish I could believe Obama averted the depression. He hasn’t, he has only put it off until it grows into something worse. Tough times lie ahead for the USA. Obama didn’t start the mess but he is without a doubt making it worse. If he wins the reelection and doesn’t stop his spending we are heading for disaster.
Please, show me the evidence that Obama really has got this nation back on course because I would love to see it so I can sleep better at night.
http://www.zerohedge.com/news/real-jobless-rate-114-realistic-labor-force-participation-rate
The problem is there is no comparison group. Thus, we don’t know how bad things would have been had Obama not taken the steps he took to save the U.S. economy. I am of the opinion that they would have been much worse, and that Obama saved us from a second great depression.
Obama doesn’t have to keep blaming Bush for the state of our union. It is obvious that we got here because of Bush. It is a simple argument. We are where we are because of Bush. WE ARE IN THE DIRE STRAITS WE ARE IN BECAUSE OF BUSH. And we have not gone over the edge thanks to Obama.
Bush contributed but he did not start this mess, it’s been a hundred years in the making with all these entitlement programs and the ever growing government and regulations that have been strangling the economy. Look at Greece, that is what America is turning into. I wish we could magically pay for endless pensions and entitlement programs, but it goes against nature, you can’t create money out of thin air and taxing the producers is unsustainable due to decreasing incentives to produce. If you guys think stimulus after stimulus, printing more and more money backed by nothing but the full faith and credit of the United States will solve this debt crisis, then you are living in a dream land. He spent $787 billion in 2009 in his stimulus package, $858 in his 2010 package, and tried to get a $447 billion last year in his jobs bill. His projections on how much these will help the economy haven’t been met. They aren’t working nearly as well as everyone hoped. I hope I am wrong that magically we can get out of debt by making almost a trillion dollar stimulus each year. That isn’t even including the money the Fed is dumping into the IMF bailing out the Euro behind our backs and without any representation from us.
Yes Obama is putting off a depression so it grows into something much worse down the road. Is that what you guys want and support? If that is what you want then I can understand how great Obama has been in your eyes.
The national debt as a % of GNP was very high during WWII and then fell steadily in each presidency until Regan, when it balooned with trickle down economics. It began to fall again with Clinton (who paid off the WWII debt) but really balooned with Bush II as he started two wars and lowered taxes. President Obama had little choice about the stimulus, but it arguably did stop the fall off the cliff. BTW he last summer tried to come to a major long term budget agreement with Boehner but the latter was stymied by the House Republicans. Hopefully after the next election adults will be in charge.
Clinton paid off the WWII debt? Hahaha wow. Where was I when that happened? What budget agreement are you talking about? I know there was the 1.4 trillion in cuts over 10 YEARS that would have done essentially nothing, but that was passed. What is 1.4 trillion in 10 years going to do when you are adding more then a trillion EACH YEAR to the debt. A super comittee was formed, the failed to agree on what to cut, so now in 2013 automatic spending cuts in the military of all things will start. Or maybe you are talking about the Balanced Budget ammendment that would have forced the government to spend less then what it takes in and to actually have a budget. Oh wait, silly me, the democrats voted overwhelmingly against that.
Just last week house republicans rejected Obama’s desire to raise the debt ceiling of an additional $1.2 trillion. Lets see how long the lasts until the senate and Obama yet again get it rammed through. Let’s keep on raising that limit on our national credit card. Great idea, Obama.
freedomforge 