Why Obama Will 'Own' the Recession

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For the truth about the New Deal and unemployment numbers; read the following:

The Forgotten Math: Pre-WWII New Deal Saw Biggest Drop In Unemployment Rate in American History

http://www.ourfuture.org/blog-entry/2009010206/forgotten-math-pre-wwii-new-deal-saw-fastest-drop-unemployment-rate-american-h

Kuni of MO 9:38AM January 08, 2009

nice attempt to spread the blame equally ...

Jeff of 9:33AM January 08, 2009

Which two words are you contracting to create that word?

billybob of ND 9:32AM January 08, 2009

What further complicates their capacity to "blame Bush" is that the currently recognized sources of the recession are from Democratic Party mismanagement. Is subprime the cause? Eight years indeed are the blame... eight years of Dodd, Frank and the entire Democratic party not only embracing corruption and kickbacks from the industry, not only dismantling all attempts to impose oversight on the industry, but actively demanding more volumes of unviable loans to those who could never repay them.

Or is the oil shock your recession cause? Again, not only did Democrats not help avoid the problem, nor address it when it blew up, but they actively engineered a framework where the problem would be magnified. They wanted Bush out, wanted to blame Bush for something... anything... since Iraq wasn't as bad as needed, and constructed this oil shock by maximizing dependence upon hostile and unreliable foreign energy sources.

But realistically, the cause I encounter the most in the business community is more profound: Obama's very economic promises. Just as Reagan had the maddening capacity to lift the economy through voodoo economics, Obama brings his own brand of magical economic mysticism which should be called Jinx Economics. Every promise to his leftist base to tax corporations, "the rich" (which accounts for the majority of tax-paying citizens), spend trillions on ineffective programs and borrow countless trillions from an decreasingly interested Chinese government shock the business community and force immediate preparation for the eventual hard recession or depression this uneducated, unqualified national leader promises to bring. Analysis of Obama's polling as an inverse of the market were tremendously insightful. The market anticipates what Obama brings and massive shedding of employees, shifting to protective modes and hording of cash are all a consequence of mere words and promises of economic radicalization by Obama to his base.

HatlessHessian of NE 9:26AM January 08, 2009

We have an arrogant, incompetent, illiterate, and inept fool in the White House the last 8 years that solved no existing problems but created new many ones and made the old ones worse, a demoralized and decimated military, plundered treasury , trashed world standing, trampled rule of Law and Constitution. This nation is sinking under debt and the market is in a free fall & sinking into an depression, while an tidal wave of Uneducated Illegal Aliens are waving the Mexican flag, demanding their rights, while sucking at the trough of Public Welfare, as they Kill, Rob, and Rape thousands of American Citizens each year.

Both Democrats & Republicans are pandering for the Latino vote by promising Amnesty for the 20 to 30 million of the invading criminals, plus with chain immigration to all their relatives & their relatives in an never ending chain!

We as a nation can survive fools in our White House. What we CANNOT survive is fools both in our Congress and white house. promising a new American, rebuilding the middle class and taking care of the poor while advocating policies that will turn this Nation into an Third World Spanish speaking Nation!

What they refuse to acknowledge or recognize is no single Nation or people is rich enough to lift the 100,s of millions of poor out of poverty. In others words American & American taxpayers cannot bear the cost of becoming the welfare state for Mexico and Latin American. To attempt to do so will only reduce all Americans to poverty equaling what the uneducated invaders have in hundreds of years build, sustained and are now fleeing from in their home countries. The poor and criminals pouring across our Borders have an average of an six grade education with is about on the level of an third grade here. Each head of house hold with less than a high education is a net cost of 20k per year for American taxpayers. So the displaced compassion, flawed logic, or just pandering for votes, endorsed by the politicians is deeply flawed. Failure to close our border or to give Amnesty to the 20 to 30 millions of Illegal Aliens in this country will in the long run, with the Chain Immigration for their relativities and their relativities in an never ending chain will result in adding 100,s of millions poor uneducated citizens to our welfare rolls and in our prisons . Their high school drop out rates exceed 50 percent with a high crime rate and a very high illegitimate birth rate, this is very combination that keeps Mexico & Latin American a cesspool of crime, corruption, poverty & misery!

Maybe the results is what the multinational companies and the rich dream of, an congested, polluted, third world Nation full of poor labors like China, India, Mexico, but I do not believe it is the future most Americans aspire to for their children and grand children!

My country, a potential benefactor and beacon for all the world - is headed right off a cliff and to an third world status!

In my view - - this has all come to pass because the Politicians, the elected and sworn stewards of this country, both Republicans & Democrats have allowed it to happen. Surely they should have known better when they build bridges to nowhere, when they wasted 100,s of billion in pork and sold their votes to the highest bidder.…when they refused to abide by the Constitution against invasion or enforce the very laws they passed, they have disgraced and dishonored their oath of office and brought shame upon our Nation. One way this Nation can start to recover is for the lot of them to be gone from those hallowed halls of Congress and the White House, because most of them have become a house of party-bound Prostitutes paid by the special interests, swirling and partying, amidst the rubble of their own malfeasance - taking this Nation right down in the gutter with them.

If the Politicians with the Citizens support, decide they must do more for the worlds poor then they must find a way like an Marshall plan for Latin American it is far better to spend the 100,s of Billions the Welfare, Schooling, Law Enforcement, etc. Amnesty will cost this Nation on an Marshall plan for Latin American . What they must not be allowed to do, though flawed logic, false compassion, or by criminal intent is to turn this Nation into a Cesspool of Crime, Corruption, Poverty, and Misery by continuing the open borders policy and Amnesty for the millions of uneducated peons and criminals pouring across our borders.

As a concerned American that served my Country in time of War as did my Father, my two brothers and my son. I am appalled and very angry at what self severing, stupid/corrupt politicians have done to my country!

Bill Lowe of OK 8:52AM January 08, 2009

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Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

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