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Thanks Pres. Obama

Discussion in 'President' started by bdtex, May 5, 2017.

  1. bdtex

    bdtex Moderator Staff Member

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    You will never get the full credit you deserve. The only economic downturn on your watch was the one you inherited from your predecessor. You left things way better than you found them.
     
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  2. Constitutional Sheepdog

    Constitutional Sheepdog ][][][%er!!!!!!!

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    he'll never get the prison time he deserves. He would also disapproved of your Avatar
     
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  3. marvin martian

    marvin martian Senator

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    B.O.O. H.O.O.
     
  4. Corruptbuddha

    Corruptbuddha Governor

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    Obama's legacy will always be two things: He was the 'First Black President' and he resided over a loss of the Democrats' fortunes unheard of in modern history.

    As to his fiscal policies, or lack thereof, I think his 'hands off' approach demonstrated the robustness and resilience of the American economy far more than any economic savvy he might have had. After all, he didn't do much in terms of the economy after his first year or two. I believe the Stimulus was his last significant piece of economic policy.

    His supporters love to tout his 'job creation' numbers, but when one starts as the bottom there is no place to go but up. Prior to the recession the UE rate was about where it is now. And it took 8 years to recover. The last time we jumped near 8 percent it recovered in 2 years (92-94). BUT...he did inherit a nearly 10% UE rate. In context, that just south of the situation Reagan walked into.

    Supporters also love to talk about how much he cut deficits, and it's true. Over his tenure deficits dropped from and ALL TIME HIGH to more tolerable highs. For example in 2007, before the recession, the deficit was 161 billion. After the recession hit and we entered not one, but TWO ill conceived wars thanks to Neocon foreign policy, the deficit soared to over a trillion in 2009 and stayed there until 2012. Then in 2013 it began to shrink, slowly, until it had gotten to 438 billion in 2015 (only to rise again in 2015 by 100 billion).

    http://www.usgovernmentspending.com/federal_deficit_chart.html

    So what credit does Obama 'deserve'? After all, he came into an economic shit-storm and saw us through it by spending a ton in the beginning, and giving the FED it's head toward the end. The latter being what I believe will be proven to be a mistake.

    In the end, economically, he'll be remembered for a lowered UE rate, a much lowered LPR, and a massive national debt. Bearing neither all the fault, nor being faultless, for any of it.
     
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  5. marvin martian

    marvin martian Senator

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    Are you part of the "resistance", too?
     
  6. bdtex

    bdtex Moderator Staff Member

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    Thanks for the on-topic and well-reasoned reply. You were the first and so far the only one to do that.
     
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