PrintDecember 11, 2010
Obama Chooses Badly: Recovery Thwarted
President Obama's defenders and detractors look at the same economic data but come to entirely different conclusions. Obama defenders say things would have been worse; Obama detractors say things should have gotten better by now.Obama defenders contend that but for his heroic measures in combating the economic meltdown, America would have been plunged into another Great Depression.Obama detractors contend that those same measures are thwarting a sustainable recovery and setting America up for an even more painful Day of Reckoning.Other nations have had more reason to fear inflation than has America. Germany, for example, had hyperinflation in the 1920s, which made their money virtually worthless and brought the nation to its knees. With the Continental currency, America experienced hyperinflation during the Revolutionary War. But since the 1930s, the big economic fear in America is depression. Americans think depressions must be avoided at all costs...(Read Full Article)
