Obama Deserves Credit

President Obama gives himself credit for bringing the economy out of the ditch and ending what he says was the worst economy since the Great depression which he inherited.

The recession actually ended in June 2009, which was around 130 days after Obama took office.

It would be interesting to see a list of actual policies that Obama proposed, passed and had such an effect on the economy that it magically emerged from a deep recession four months and ten days after he took office.

He might list TARP and car bailouts, but those were started under Bush. If we credit artificially low interest rates that is also not his policy -- that is the Federal Reserves’ policy. The near zero interest rates have pushed individuals, mutual funds and pension funds to chase riskier assets to get higher rates of return, which has pushed the stock market higher. That will almost inevitably lead to a bubble.

President Obama should be given credit for what he has done:

ObamaCare, which has reduced choice, increased costs and deductibles. I also credit Obama for his continuous lies that people would be able to keep their doctors and policies if they liked him when he knew that was not true.

He may also be credited for the Dodd-Frank Act that harmed small, medium and large banks alike with massive new regulations from an agency (CFPB) Consumer Financial Protection Bureau which essentially has no limits to its power or its budget. It is funded through the Federal Reserve with no control by Congress.

President Obama should certainly get credit for bankrupting many coal companies as that was his stated goal. 

We will give him credit for going around Congress and the Constitution on immigration to allow five million illegal immigrants to stay in the country.

He also deserves credit for almost doubling the deficit to $19 Trillion while he says he has reduced the deficit. 

He should get credit for having a labor participation at rates not seen since 1978. By continuing to assume people aren’t in the labor force and lowering the denominator you can pretend that unemployment is down to 5%.

Let’s give him credit to getting the home ownership rate down to the third lowest on record

Obama deserves credit for having one of the slowest economic recoveries on record but not for ending a recession 130 days after he took office, which would be impossible for any president or policy to do. Does anyone truly believe that a President can turn around a $15 Trillion economy that was mired in a deep recession in 130 days? That is what the president, Democrats and most of the media repeatedly tell us. Isn’t it much more likely that the recovery was well on its way when Obama took office?

It is a true shame that the media, in lockstep, will just repeat the talking points as if they were true.

President Obama gives himself credit for bringing the economy out of the ditch and ending what he says was the worst economy since the Great depression which he inherited.

The recession actually ended in June 2009, which was around 130 days after Obama took office.

It would be interesting to see a list of actual policies that Obama proposed, passed and had such an effect on the economy that it magically emerged from a deep recession four months and ten days after he took office.

He might list TARP and car bailouts, but those were started under Bush. If we credit artificially low interest rates that is also not his policy -- that is the Federal Reserves’ policy. The near zero interest rates have pushed individuals, mutual funds and pension funds to chase riskier assets to get higher rates of return, which has pushed the stock market higher. That will almost inevitably lead to a bubble.

President Obama should be given credit for what he has done:

ObamaCare, which has reduced choice, increased costs and deductibles. I also credit Obama for his continuous lies that people would be able to keep their doctors and policies if they liked him when he knew that was not true.

He may also be credited for the Dodd-Frank Act that harmed small, medium and large banks alike with massive new regulations from an agency (CFPB) Consumer Financial Protection Bureau which essentially has no limits to its power or its budget. It is funded through the Federal Reserve with no control by Congress.

President Obama should certainly get credit for bankrupting many coal companies as that was his stated goal. 

We will give him credit for going around Congress and the Constitution on immigration to allow five million illegal immigrants to stay in the country.

He also deserves credit for almost doubling the deficit to $19 Trillion while he says he has reduced the deficit. 

He should get credit for having a labor participation at rates not seen since 1978. By continuing to assume people aren’t in the labor force and lowering the denominator you can pretend that unemployment is down to 5%.

Let’s give him credit to getting the home ownership rate down to the third lowest on record

Obama deserves credit for having one of the slowest economic recoveries on record but not for ending a recession 130 days after he took office, which would be impossible for any president or policy to do. Does anyone truly believe that a President can turn around a $15 Trillion economy that was mired in a deep recession in 130 days? That is what the president, Democrats and most of the media repeatedly tell us. Isn’t it much more likely that the recovery was well on its way when Obama took office?

It is a true shame that the media, in lockstep, will just repeat the talking points as if they were true.