The claim is being made by Republicans that the present US economy belongs to President Obama. They're really talking to people who they hope do not know that Obama is dealing with a terrible economy produced by the actions of President George W. Bush: two unfunded wars (one a war of choice), tax cuts that that were not paid for and which did not produce jobs, an unpaid-for prescription drugs plan and the Great Recession. Republicans are hoping that lll of these economic missteps have either been either forgotten or never known. Be that as it may, these are the main elements of the Bush's economy which ended in January 2009
But let's see what constitutes what Republican are choosing to call "Obama's economy" since January, 2009. If the present economy is Obama's economy the he certainly could only take credit or blame for those things that are the result of his ideas.
(1) President Obama inherited Bush's Great Recession. (That was Obama's fault because, knowing what the economic condition of the country was, he still chose to seek the presidency.)
(2) He stabilized the banking system and prevented a depression. (3) He established regulatory reform intended to prevent the same reasons to cause another recession or exacerbate the present one.
(3) He extended unemployment benefits during the recession.
(4) He reduced taxes on middle-class workers.
(5) He pass a health-care law, which even Obama realizes needs fixing. (He got the best he could get with a shaky super Democratic majority in the Senate.)
(6) A treaty was signed with the Soviet Union.
(7 Job loss steadily decreased and eventually has resulted in job gains. (The unemployment rate remaining at 9.1% reflects that job gains are keeping up with growth of Americans entering the job market. More jobs are needed to bring that percentage down. Republicans are trying to make sure that does not happen.
(8) Obama saved the three American auto companies, saving the jobs of hundreds of thousands of workers.
(9) He passed a stimulus plan that created and saved the jobs of over 4 million teachers, fire fighters and policemen and policewomen, though he hoped it had done more. (Republicans say that the stimulus failed, though they knew it had some success because many of them accepted the money to save jobs in their states.)
(10) Several Al Caeda leaders were killed, including Osama bin Laden, and Moammar Gadhafi was deposed because of the leadership of Obama.
(11) The President is trying to solve the nation's short- and long-term economic problems with a rational blend of $4 trillion worth of spending cuts and revenue enhancement.
(12) President Obama has been willing to compromise: consider tort reform in connection with health-care reform and place entitlements on table in order to address national debt consistent, both consistent with the voters wishes that there be more bipartisanship in Washington and contrary to the wishes of his political base.
These are only a partial list of the things the President has done and tried to do during the "Obama economy." And all that Obama has done still has failed to completely rescue the country from the economic wounds inflicted by the Bush Administration. Most of the people who are still out of work were put out of work by the deeds of George W. Bush. Their unemployment is not part of Obama's economy. And Obama has not started any new wars.
However, wealthy people, who were further enriched by the Bush tax cuts, have not had many children fighting in the wars that George W. Bush started. Wealthy people whose families have not as a group joined fellow Americans on the battlefields of Asia and the Middle East, should feel it their responsibility to support the nation with some of their money during this period of financial crisis. They should gladly help restore a thriving economy in this country so it can provide jobs and proper care for those children of the poor and middle class who did their part fighting, dying and being injured on those dusty battlefields. They did it for all Americans. These wealthy Americans will more than make those surtaxes back in a thriving economy.
Despite the consistent and often irrational opposition by the Republican Party, the Obama presidency has been quite good so far. When Republicans say that because of what Obama has achieved--or tried to achieve--they cannot stand four more years of Obama in the White House, they're right: They can't stand it, but the majority of the American people probably can.
This economy belongs to Obama only (1) if he caused the economic troubles (He didn't.), or (2) if his attempts to fix the economy had Republican support. (They didn't.), or (3) if the economy--regardless of its condition when Obama became president--got even worse. (It didn't.)
If the Super Committee fails to come up with the Big Deal, look of our credit ratings to fall. And if Republicans gain the White House, expect ratings to sink to A or B level, and interest rates to skyrocket.
Despite the "Occupy" movement, Senate Republicans continue with their votes on jobs to scream, "I DON'T HEAR YOU!!!!!!
Why the media think Obama will be blamed in the 2012 for things he did not cause is either a reflection of their own poor judgement or their low opinion of the judgment of the American voters.
Voters may have bad understandings because of media failure to challenge lies, allowing unchallenged lies, too often, to be perceived as truth.
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