Whose Mess?

President Obama inherited a mess of an economy.  He inherited it from his fellow Democrats in Congress.  As it turns out, which party controls Congress, especially the Senate, probably has a lot more impact on the economy than who resides in the White House.The last time Republicans controlled Congress, unemployment stood at 4.4%, the S&P 500 closed over 1400, and the economy grew at an average of 3% per year over the four years under a Republican Congress.  After two and a half years of Democrats controlling both houses of Congress, the unemployment rate is at 9.7% and teen unemployment is at 25.5%, the highest since it started being tracked in 1948.  The S&P 500 lost more than 25% of its value.  And real GDP has declined each of the last four quarters and is, in fact, below where it was when Republicans last controlled Congress.  We tend to view the President as representing government, but he is just one person in one branch of the federal...(Read Full Article)