Updating the Reagan v. Obama Economic Rout
Gregory Alan Bolcer stashed this in Cause and Effect
They thought they could take credit for the natural recovery in spite of policies meant to damage it.
Obama’s economic policy, with the help of a pliant Federal Reserve, has been built on the notion that massive deficit spending and easy money would bring the economy roaring back and “stimulate” job growth. The former strategy was tried during the 1930s. It only succeeded in lengthening the Great Depression, as the nation’s unemployment rate never fell below 12 percent. The fact that Team Obama insisted on making the same mistakes, while at the same time unleashing the federal government’s regulatory apparatus to harass the economy’s productive participants, is enough to make reasonable people question whether this president and his administration have ever truly wanted to see a genuine recovery occur.
I believe they wanted genuine recovery. Bad economy gets them voted out.
Reagan didn't print trillions of dollars of currency out of thin air either. We've been an economy on steroids and antibiotics for almost a decade now with an out of control debt ever since Democrats took over congress in 2006 and started this current spending spree and then QE and QE2 basically pumping fake money into the US economy to the tune of over $4 trillion dollars to pad the government economy numbers. It's a disaster with no good ending.
Dems lost the House in 2010 so both parties are to blame here.
It's no wonder the price of gas, health, education, etc are way up with this kind of inflation.
But it sure does make it look like the stock market is way up.
The current debt crisis started with the 2006 Democratic house. The 2010 wave election gave us the sequester which was the first step to "stop digging". I don't believe both parties are to blame. One is spending as fast as they can before the money tap runs out, the other is battling two other factions to keep the whole government from spending into oblivion. I don't believe both are to blame at all.
Even that other approved a huge spending budget this year without a fight.