“The Great Recession” and Obama debunked | Steve Bussey

Barack Obama

Barack Obama (Photo credit: jamesomalley)

Want to compare Reagan to Obama, apples to apples?  Here it is, and Obama is no Reagan!  In fact, let’s look at the whole picture.

Excerpt…

President Obama is running an average annual unemployment rate of 9.3% for his first term, during most of which he had a completely Democrat controlled Congress at one time with a filibuster proof Senate, while President Reagan had an average annual unemployment rate of 8.85% in his first term while dealing with a split Congress at times and a Democrat controlled Congress during part of his first term.

President Reagan was forced to negotiate and deal with the opposing political party, especially since he never had a filibuster proof Senate, while President Obama enjoyed a super majority in the House and Senate for at least part of his first term during which time he could have done just about anything he wanted economically – and did.

And remember, President Reagan also had to contend with a collapse in the housing market, a collapse in the oil market and the collapse in the Savings and Loan industry as well as the dire economic situation bequeathed him by President Carter.

However, Presidents Reagan and Obama did have something in common. President Obama has pledged to fundamentally transform America – his words, and President Reagan did fundamentally transform the US economy from Keynesian to Supply-Side economics.

So, can we say that Obama’s persistent unemployment is due to the depth of the recession or his fundamental transformation since President Reagan did show us about how long it takes, at least through unemployment figures, to fundamentally transform an economy the size and scope of the U.S. economy?

But at the end of the day, President Obama is not even on a trajectory to decrease unemployment to manageable levels 2 ½ years into his presidency. In fact, he is most recently on an upward trajectory and our economy is slowing yet again from 3.1% growth in the 4th Quarter of 2010 to an anemic 1.8% in the 1st Quarter of 2011 (US Department of Commerce, Bureau of Economic Analysis) .

Read on….

“The Great Recession” and Obama debunked | Steve Bussey.

Obama’s No Reagan

Ronald Reagan wearing cowboy hat at Rancho del...

Ronald Reagan wearing cowboy hat at Rancho del Cielo. (Photo credit: Wikipedia)

1980 was a very dark time.  The Iranians held Americans, we had gas lines, and the economy was a train wreak.  By 1984 it was Morning in America!  Ronald Reagan wasn’t blaming Carter for failing to turn things around.  He wasn’t blaming the Democrats in Congress either for his failure.  He did what he could and succeeded.  Reagan never had the supermajority that Obama enjoyed.  He never had the media bending over backwards to make him look good either.  With the Presidency and the Senate (under GOP from 1981until 1987) he was able to turn the economy around and restore America’s economy, military, and position in the world.

Makes you wonder how exactly Obama can go from blaming Bush to blaming the GOP House for his failure when Reagan managed to transform America with less.  The numbers just don’t add up.  As for charges of Republican obstructionism, that’s not obstructionism, it is democracy, it is checks and balances.  To expect the GOP to go against their views and the views of those who elected them is pure foolishness.  To blame the House for Obama’s failures is only to point out the man is no Ronald Reagan.  The one thing he proved, the one thing we see in the failure of the Soviet Union and European Socialism (they were crashing in Britain in the late ’70’s under the weight of failed socialism), the same we see in Obama’s failure, is big government control and socialism do not work.  It didn’t even work under FDR, but I’ll give the man far more credit than Obama, at least he did get people to work.

So are we better off now than we were $5,000,000,000.00+ dollars ago?  Shall we borrow another $5,000,000,000.00+ for more of the same?  After all, it’s not Obama’s fault.