Exit Strategy from the Great Recession

In the 1930s, Democratic President Franklin Roosevelt had no exit strategy from the Great Depression, so he blamed it on his Republican predecessor. Roosevelt's policies prolonged the depression until, finally, the start of World War II in Europe caused the increased exports and business investment that pulled us out.It is becoming increasingly clear that President Obama doesn't have an exit strategy either. Like Roosevelt, he blames his Republican predecessor. He also touts his "recovery" plan, as if it were helping. In a September 20 interview with CNN, he predicted that employment would start increasing this year and that unemployment would start decreasing next year. But there is no indication of increasing employment. In fact our economy lost another 263,000 non-farm jobs in September when unemployment climbed from 9.7% to 9.8%. The economy is not recovering, and no amount of optimism by Obama can paper over that fact. It is becoming more and more clear that President...(Read Full Article)