When does the Bush economy become the Obama economy?

Heading into the midterm election, President Obama continues to remind American voters that the nation’s economic problems began under previous management, and that he’s just trying to clean up the mess that was left behind. He also likes to point out that the GOP hasn’t exactly been helping in that effort.

“So after (Republicans) drove the car into the ditch, made it as difficult as possible for us to pull it back, now they want the keys back,” he said at a Democratic fundraiser last week. “No! You can’t drive! We don’t want to have to go back into the ditch! We just got the car out!”reagan1

That in turn has inspired pushback from Republicans, who insist that this far into his term, Obama himself ought to accept blame for persistent unemployment. Chris Wallace even brought it up in an interview on Fox News Sunday with Laura Bush, asking the former First Lady whether she’s bothered that “16 months into the presidency that the Obama administration still talks about the bad economy they inherited from your husband?”

Searching for a little context, I started looking into how the situation was handled by a previous president who also inherited a tough economy. Did conservative icon Ronald Reagan try to dump the blame on his predecessor at a similar point in his presidency?

Well yes, it turns out that he did. Consider the AP piece to the right, published Sept. 30, 1982. It documents the Reagan electoral strategy of blaming Democrats for leaving a mess, and for refusing to help him clean it up.  In a portion not depicted because the blurry image can be a bit difficult to read, the story reads:

“To those critics who blame him for the economy’s troubles, Reagan said: ‘I must ask, did these modern day Rip Van Winkles really sleep through the America of 1980? Don’t they remember the unprecedented misery of double-digit inflation, climbing unemployment and record interest rates?’”reagan2

Again, that’s in September, 20 months into his term, and it was clearly a persistent theme for the Gipper. Another AP piece from that same month quotes Reagan from a press conference that month:

“I just wish those who bear such a heavy burden for overspending and taxing us into this recession could resist playing politics with the problems they caused and work with us to stay on course for a lasting recovery.”

With a changed word or two, you could imagine Obama saying the exact same thing. And so far, Americans seem to agree with him. In a recent ABC/Washington Post poll, 59 percent said that Bush, rather than Obama, is more to blame for the state of the economy. Just 25 percent put the blame on Obama.

(For the record, I think it’s far too simplistic to blame economic woes on any president, regardless of who he is. The current recession is a product of thousands of choices made over the past 20 years by presidents, congressmen, Fed chairmen, business leaders, union leaders, regulators, lobbyists and ordinary Americans. A president may have more ability to drive such decisions than any other single individual, but in the end he is still just one among many.)

UPDATE: According to CNN, the Federal Reserve “now expects U.S. gross domestic product, the broadest measure of economic activity, to increase at an annual rate of between 3.2% and 3.7% in 2010. That’s up from the Fed’s previous estimate of between 2.8% and 3.5% in January.

GDP rose at a 3.2% annual rate in the first three months of this year, the government said last month.

At the same time, the Fed reduced its forecast for the nation’s unemployment rate to a range between 9.1% and 9.5% this year, versus 9.5% to 9.7% in January. The unemployment rate currently stands at 9.9%.

330 comments Add your comment

saywhat?

May 19th, 2010
2:36 pm

I would like to see a graph with the recent growth of the economy superimposed over the graphs of other downturns/recoveries. More specifically, if the recovery so far had started from a point not so deep, as in previous recessions where would we be?

Normal

May 19th, 2010
2:37 pm

When does the Bush economy become the Obama economy?

That’s easy. Bush started with a surplus, it becomes Obama’s economy once he reaches a surplus. After all, fair is fair…

Bosch

May 19th, 2010
2:39 pm

“I just wish those who bear such a heavy burden for overspending and taxing us into this recession could resist playing politics with the problems they caused and work with us to stay on course for a lasting recovery.”

Which, the Gipper, of course, continued.

AmVet

May 19th, 2010
2:40 pm

So I’ve had it wrong!

BHO is NOT a young (half) black George Bush!

He’s a young, (half) black Ronnie!

Kind of a Junior Great Communicator!

Man, this just keeps on getting better…

Mick

May 19th, 2010
2:45 pm

It’s hard to compare, if people just think back to 12/08 the concensus among most americans was that bush basically had reduced the US to a bankrupt, failing mess. The mba president did to america what he did to every company he ever tried to run – left it in the red and bankrupt. I say this becomes obama’s economy near the end of his 4th year.

AmVet

May 19th, 2010
2:49 pm

From downstairs,

Jay, to be clear, I know full well you did/do not buy into the fictional math being used by BP and the USCG.

TaxPayer

May 19th, 2010
2:50 pm

Republicans drove the car into the ditch and now that the car is back on the road they want the keys back because they meant to drive it over the cliff but missed. Give ‘em the keys and let ‘em do it right. Finish off the USofA. Be done with it. It’s obvious that they will not be satisfied until they do just that. :roll:

Whacks Eloquent

May 19th, 2010
2:51 pm

Normal, then I guess it will be 2072 before the Bush economy is over, at the rate we are going…
surplus? I’d be happy with just balancing the budget!

Bosch

May 19th, 2010
2:58 pm

Waiting for stuff to print out is totally boring. —Bosch

Normal

May 19th, 2010
2:59 pm

Whacks, you said…
“surplus? I’d be happy with just balancing the budget!”

I say, “me too!”

md

May 19th, 2010
3:00 pm

The car may be on the road, but it sure ain’t driving straight. Heading straight for the other ditch. Mandate to mandate=ditch to ditch.

Best hope we can get a balanced gov’t in the near future, or we will forever be calling the wrecker.

stands for decibels

May 19th, 2010
3:04 pm

For the record, I think it’s far too simplistic to blame economic woes on any president, regardless of who he is. The current recession is a product of thousands of choices made over the past 20 years by presidents, congressmen, Fed chairmen, business leaders, union leaders, regulators, lobbyists and ordinary Americans.

Well yeah, but what fun would it be to spread the blame around to all the people who are actually responsible?

@@

May 19th, 2010
3:04 pm

DANG! Dead threaded again!

Rahm had it right from the get-go. Did Obama listen?

HELL NO!

It was interesting to hear how the natural microbes can work to our advantage when it comes to the oil spill. Made me think about those microbes, or was it bacteria, that gobble up carbon emissions.

In aerobic conditions (where oxygen is present), benzene, toluene and naphthalene, which all occur in petroleum, were rapidly degraded by microbes. In the absence of oxygen degradation was slower and only toluene was significantly broken down. This means that in a healthy marine ecosystem where the water is oxygenated, petrochemical contamination can biodegraded by micro-organisms, but if the oxygen supply is depleted by pollution and other processes leading to the breakdown of organic matter in the soil, the contamination will persist.

Whodathunkit? A knuckle-dragging neanderthal, such as myself, keeps up with these things.

http://www.sciencedaily.com/releases/2009/03/090329205505.htm

On-topic!

For the record, I think it’s far too simplistic to blame economic woes on any president, regardless of who he is.

Me too, but when it comes to jobs, Obama himself said he’d create ‘em. All the leftists, here are wanting to know why that’s his job.

Because he said it was!

Normal

May 19th, 2010
3:05 pm

GO NAVY!!!

http://www.navytimes.com/news/2010/05/navy_mesaverde_rescue_051910w/

This is the sailor’s code. Help other sailors in distress, even if they are the “enemy”…Back in the day, my ship aided a disabled Soviet
tin can in ‘77…

Normal

May 19th, 2010
3:06 pm

One “Off Topic” left… :)

Redneck Convert (R--and proud of it)

May 19th, 2010
3:07 pm

Well, if we could just get back in the driver’s seat things would be OK. A couple tax cuts there, a few new programs there, maybe another war or two and a slash or so at things we hate. Pretty soon we’d have this thing humming and purring.

But it’s no use. They ain’t going to let us drive again. And just because we showed up one lousy time with the steering wheel in our hand and told Mom and Dad the car was out there someplace in a few hundred pieces. Where’s the Compassion?

Have a good p.m. everybody.

Mick

May 19th, 2010
3:09 pm

Let’s face it, during the previous presidents tenure it was a corporate orgy. Loose regulations, lack of enforcement, putting either incompetents or foxes in charge of the hen house. It was that bad. The end result was about what we expected – only worse. No matter who took over, the cleanup will take time, mistakes will be made along the way. Obama has one term for OJT, wise decision making, plus some luck.

moonbat betty

May 19th, 2010
3:10 pm

Republicans- the root of all evil!

As soon as the Republicans are driven out of congress, obama can change America!

Obama forever!!!

AmVet

May 19th, 2010
3:11 pm

All the leftists, here are wanting to know why that’s his job.

Man! I am so jealous!

One day perhaps I too will perfect the art of not just using the pronoun *we* instead of I, but actually speaking for everyone else!

That would come in reeeeaaaal handy…

Normal, GO NAVY!

stands for decibels

May 19th, 2010
3:12 pm

With an improving economy, I guess I shouldn’t be surprised by this, but I am, just a little–lookee these generic Congressional polling trendlines.

(Of course the blue line still has plenty of time to head south before November. And yes, nobody actually votes for a Generic Party X candidate.)

md

May 19th, 2010
3:13 pm

Wow, someone thinks we live in Venezuela.

chuck

May 19th, 2010
3:14 pm

This is Obama’s economy NOW, and has been since he began pushing us from the ditch to the cliff. Healthcare “reform”, stimulus II, expansion of entitlement programs, etc. He could balance NEXT YEAR’s budget if he had the nads. He doesn’t WANT to balance the budget because if continues us on this path he can become more of a despot than he already is. It’s all about POWER.

stands for decibels

May 19th, 2010
3:14 pm

Jay, your AP story linkee has some bad code. Bad code!

(other folks, just lose the “whether” at the beginning of the URL and you’re good to go.)

stands for decibels

May 19th, 2010
3:15 pm

He could balance NEXT YEAR’s budget if he was an idiot and wanted to plunge us into Great Depression II: Electric Boogaloo.

fyt.

Bosch

May 19th, 2010
3:16 pm

chuck,

Sorry, but I have to give that 3:14 an “Oh my freaking God”

AmVet

May 19th, 2010
3:18 pm

Why rag on despots?

Ronnie LOVED them!

Hell, I can’t even count how many he funded and armed around the globe. (Ask Ollie…)

Jay

May 19th, 2010
3:19 pm

Update posted above, from CNN:

The Federal Reserve “now expects U.S. gross domestic product, the broadest measure of economic activity, to increase at an annual rate of between 3.2% and 3.7% in 2010. That’s up from the Fed’s previous estimate of between 2.8% and 3.5% in January.

GDP rose at a 3.2% annual rate in the first three months of this year, the government said last month.

At the same time, the Fed reduced its forecast for the nation’s unemployment rate to a range between 9.1% and 9.5% this year, versus 9.5% to 9.7% in January. The unemployment rate currently stands at 9.9%.

Doggone/GA

May 19th, 2010
3:19 pm

“Sorry, but I have to give that 3:14 an “Oh my freaking God”

Yep. Of course it’s probably true that the budget could be balanced for next year…all that would have to be done is to not fund the DOD for the year. Just think how many debts THAT money would pay off.

stands for decibels

May 19th, 2010
3:19 pm

Sorry, but I have to give that 3:14 an “Oh my freaking God”

Since it was 3.14, why not give it a pi in the face?

Jay

May 19th, 2010
3:21 pm

Thanks sfd. Fixed it.

Bosch

May 19th, 2010
3:21 pm

sfd,

pi in the face? Impressive!!! I stand gobsmacked at your wit.

Paul

May 19th, 2010
3:23 pm

I do not think it’s splitting hairs to note the difference between “Blame Bush” and “Blame Republicans.” Reagan did not, at that point in his presidency, blame Carter. He followed the usual course of blaming the entire oppposing party.

Democrats demonized Bush. They blamed him for everything from Pentagon foul-ups to the carton of spoiled cottage cheese they found in their refrigerator. And they got an awful lot of mileage from it. At some point it began to sound like making excuses, of whining. No matter Pres Obama often couched it in terms of ‘yes, it’s still bad, but don’t you remember how much worse it was a few short months ago?.” At some point it got old.

So this shift to going after the opposing party is a welcome change. Is it entirely accurate? No. Does it attempt to shield Dems from their role? Yes. Does it divert attention away from Dems reluctance to deal with deficits and their role in exploding them? Sure does.

TGT

May 19th, 2010
3:23 pm

From the worn out sheets below:

Speaking of members of congress and military service: In the current congress, as of about one year ago, in the House of Rep. 96 members have served or currently serving in the military. 48 are Republicans 47 are Democrats and 1 is Ind.

source: http://www.docstoc.com/docs/6760389/Members-of-Congress-Who-Served-in-the-Military

Chris

May 19th, 2010
3:24 pm

I think it’s far too simplistic to blame economic woes on any president, regardless of who he is.

I generally agree, but the Great Recession is primarily the result of the plutocratic ideology of the Republican Party (disguised as “small government” ideology) which defines the GOP’s resistance to both the enforcement of existing regulations and creation of new regulations to protect consumers.

At this very moment, Republican senators in Washington are trying to prevent/water down financial regulatory reform. USA Today reports, as of approximately 10 minutes ago, “Republican leaders argued for a delay, saying the bill represented an expansion of federal government.” Same old, same old.

http://www.usatoday.com/money/companies/regulation/2010-05-19-senate-financial-reform-votes_N.htm

Scout

May 19th, 2010
3:25 pm

OFF TOPIC POST #1

Headline: “KALAMAZOO — The White House appears to be laying the groundwork for President Barack Obama to shake the hand of each senior at Kalamazoo Central High School’s commencement ceremony next month. Seniors are being asked to provide their birthdates, Social Security numbers and CITIZEN STATUS (emphasis added) to the Secret Service so background checks could be performed. Such a check is required for anyone who gets within an arm’s length of the president, students were told at their senior breakfast Friday.”

Hummmm …………. and what if they find an “illegal” ??

P.S.

To my liberal friends:

I suggest you number your “off topic” posts as I am doing. Per Jay we only get two per thread and you can be assured he is “watching” you (as I know he will be fair) and of course I am watching you ………………….. :o

md

May 19th, 2010
3:28 pm

“Both leaders oppose the law.” (Calderon/Obama)

“Almost twice as many people support the Arizona law as those who oppose it, according to an Associated Press-GfK poll this month. It found that 42 percent favored it, 24 percent opposed it and another 29 percent said they were neutral.”

Once again, we the people don’t know jack……….almost 2-1 favor vs oppose.

Dave

May 19th, 2010
3:28 pm

It will bocome Obama’s economy when it’s politically expedient to do so.

Peadawg

May 19th, 2010
3:29 pm

“When does the Bush economy become the Obama economy?”

In 2008 once he took over. Democrats had Congress since 2006. Nice try though, Oblahbah

Southern Comfort

May 19th, 2010
3:30 pm

dB @ 3:19

:lol: My vote for post of the day!!!

stands for decibels

May 19th, 2010
3:31 pm

In the current congress, as of about one year ago, in the House of Rep. 96 members have served or currently serving in the military. 48 are Republicans 47 are Democrats and 1 is Ind.

96/535 = 22%, and that’s a lot higher a) than I thought, and b) than the population at large.

Also:

I suggest you number your “off topic” posts as I am doing.

Fair enough, although I don’t think replies to someone else’s off-topic post necessarily counts.

anyway, gotta run.

Jay

May 19th, 2010
3:32 pm

Scout, I’m not watching everybody or keeping a list. If you choose to do so, fine. I’ll jump in when it appears someone is abusing the privilege, which you were.

Dave

May 19th, 2010
3:32 pm

Afterall, we’ve had at least 3 successive quarters of positive growth, which by the usual standards would mean a recession is over….yet no one from this administration has declared the recession over. Wonder why.

Brad Steel

May 19th, 2010
3:35 pm

According to the right-wing pundit-industrial complex, it became Obama’s economy several years before he was elected.

Chris

May 19th, 2010
3:35 pm

Democrats had Congress since 2006.

Speaking of the Congress that was elected in ‘06, it would be very nice if, one day, the media would provide a detailed report about all the legislation that came out of the House but died in the Senate as a result of Republican filibusters preventing up-or-down votes (they had set a new record for filibusters). Bush was prepared to veto much of it anyway, but the Republican minority in the Senate wanted to spare him the embarrassment of vetoing popular legislation.

Scout

May 19th, 2010
3:35 pm

OFF TOPIC POST #2

Oh, I’ll let you know as I know you want to be fair. The libs. on here do it all the time. They probably exceed me.

Crap! You tricked me into using up my second post !!!

@@

May 19th, 2010
3:36 pm

One day perhaps I too will perfect the art of not just using the pronoun *we* instead of I, but actually speaking for everyone else!

Lawd, AmVet, you’ve let “the others” demote you to their “Chief Petty” officer. Next you’ll be talkin’ about crystal balls, pearl clutching, and swooning couches.

You’ve joined the girl’s kofi klatch.

Looking at Mick’s 3:09, it would appear I misspelled “orgy” earlier. Probably ’cause I don’t engage in ‘em. Not saying Mick does, just that he knows how to spell it correctly.

Thanks, Mick.

Jay

May 19th, 2010
3:36 pm

Dave, the National Bureau of Economic Research, which typically makes that call on recessions, hasn’t done so yet.

Scout

May 19th, 2010
3:36 pm

This was “Che/Karl” Obama’s economy long ago !!!

Jay

May 19th, 2010
3:36 pm

Yes I did, Scout. Yes I did.

Dave

May 19th, 2010
3:37 pm

“At this very moment, Republican senators in Washington are trying to prevent/water down financial regulatory reform”

The Republicans aren’t the only ones…. but, it’s just business as usual unfortunately. I mean, what do student loans have to do with health care?

Senators load financial overhaul with irrelevancies

“WASHINGTON — Sen. Jim DeMint, R-S.C., wants the government to finish building the 700-mile fence between the U.S. and Mexico. Sen. Patrick Leahy, D-Vt., wants to end the health insurance industry’s antitrust protection. West Virginia’s two senators want help with mine and oil rig safety.

They all want to add these things to the financial regulatory overhaul bill that’s moving through the Senate, even though their ideas have little or nothing to do with oversight of financial markets.”

http://www.mcclatchydc.com/2010/05/18/94386/senators-load-financial-overhaul.html

Normal

May 19th, 2010
3:38 pm

md

May 19th, 2010
3:28 pm

md,
29% sitting on the fence tell me that nearly a third of the people just don’t want to get involved. That say quite a lot right there.

md

May 19th, 2010
3:38 pm

Funny, when I mention Senate bill s 190, it gets poopooed, yet when a dem majority is discussed, suddenly it becomes but, but, but………

Normal

May 19th, 2010
3:40 pm

@@,
Never been to a Crisco Party, huh?…

md

May 19th, 2010
3:41 pm

“I mean, what do student loans have to do with health care?”

It means the students are being skimmed by congress and don’t even know it. But I’ll wager they stand around campus and poopoo the other party because of it.

Dave

May 19th, 2010
3:42 pm

Everything’s political….

Next year’s budget is sinking in deep red ink

“The chance that the majority Democrats will pass a budget this year is “fading,” Senate Budget Committee Chairman Kent Conrad (D-N.D.) said Tuesday.

He is pessimistic because House Democrats don’t know whether they want to pass a resolution that would officially acknowledge the certainty of big deficits. House Majority Leader Steny Hoyer (D-Md.) and other Democrats have indicated that would be a tough vote in an election year. ”

http://thehill.com/blogs/on-the-money/budget/98409-senate-budget-chairman-says-prospect-for-budget-resolution-fading-

I think that’s the limit of my off-topic posts…although they’re not totally off topic :)

md

May 19th, 2010
3:43 pm

“29% sitting on the fence tell me that nearly a third of the people just don’t want to get involved. That say quite a lot right there.”

Or they didn’t want to appear “racist”. Split that 29 in half, and 2/3’s of this country agree with the bill. Jump over to the yahoo blogs on the subject, and the numbers bear that out.

RASTUDD

May 19th, 2010
3:52 pm

Obama spent $950,000,000.00 to get the job. Since he wanted the job so bad he needs to stop wasting time and money and fix it.

Bush and the Republicans were trying to out Democrat the Democrats. Now we can see what a bunch of amateurs they were.

Normal

May 19th, 2010
3:56 pm

md

May 19th, 2010
3:43 pm

I take it then, that you agree with the law. In spirit, I agree too, but I see major potential for abuse and that worries me.

Headed home…will check in later…
‘Bye, y’all :D

AmVet

May 19th, 2010
3:57 pm

“you’ve let “the others” demote you…” Silly little woman. Doesn’t even make any freaking sense.

“Never been to a Crisco Party, huh?…” Maybe not Normal, but I suspect more than few Lardass Parties!

Scout, nobody likes a tattle tale.

I think what we need to do is make it official and eliminate corporate taxes altogether. Then the Trickle Down will become a Flood!

Also we need to double military expenditures. That’ll show them terrists!

Lord Help Us

May 19th, 2010
3:58 pm

It is a good question…

It is easy to look at the things GWB did to raise expenditures (Iraq War, tax cuts, medicare expansion) and very easy to see the places he cut revenues (Tax Cuts)…

However, I am hoping some of his supporters on this blog can help me identify the places GWB cut SPENDING…

Thanks in advance…

md

May 19th, 2010
3:58 pm

“I take it then, that you agree with the law. In spirit, I agree too, but I see major potential for abuse and that worries me.”

Our entire system is set up for potential abuse – that is why the system includes courts. We either let our police do their jobs, or we find another system.

@@

May 19th, 2010
4:01 pm

Never been to a Crisco Party, huh?…

Nope!

Is it like those folks who chase greased pigs? Did you catch ‘ya one at the party?

And you call yourself normal, Normal?

md

May 19th, 2010
4:06 pm

“However, I am hoping some of his supporters on this blog can help me identify the places GWB cut SPENDING…”

He didn’t. And neither did Barry.

At some point, regardless of which spouse is using the credit card, the bill must be paid.

Lord Help Us

May 19th, 2010
4:11 pm

md, were you a GWB supporter? That’s who the question was aimed at…

I am simply trying to apply a little logic to the question of when does the economy become the ‘Obama economy…’

You are correct, neither seems to have cut any spending…however, one inherited a huge surplus, turned it into a huge deficit, and, for an encore, left his successor with the worst economy since the Great Depression…

Shirley, you must admit that counts for something…

josef nix

May 19th, 2010
4:12 pm

“When does the Bush economy become the Obama economy?”
Tuesday, January 20, 2009

“For the record, I think it’s far too simplistic to blame economic woes on any president, regardless of who he is. The current recession is a product of thousands of choices made over the past 20 years by presidents, congressmen, Fed chairmen, business leaders, union leaders, regulators, lobbyists and ordinary Americans.”

And that’s it in a nutshell, no ifs, ands, ors, or buts about it…

Southern Comfort

May 19th, 2010
4:12 pm

For what it’s worth, I wish Obama would just come out and say it’s his now. That way everybody would just shut the hell up about it already. It doesn’t matter who’s economy it is. The corporate pilots are the ones who got us into this mess anyway.

Common sense dictates that the stock market will not always go up year after year. At some point it will have to come down. A balloon will not rise and rise. At some point it has to come down. Age does not keep going up. At some time you have to die. So why in the hell does a company or shareholders by proxy expect a company to produce profits year after year? At some point there is no way to continue to profit. Had our “genius” CEO’s not decided to ship jobs to cheaper labor pools in search of those continuing profits, we’d have friggin’ jobs to pull us out of this recession.

It has nothing to do with policies, taxes, or any of that other crap that people espouse. The simple problem is GREED. Obviously, this country isn’t as “Christian-like” as most believe, because we continue to reward those who are the greediest.

WhoCares

May 19th, 2010
4:24 pm

When will the economy be something that Obama wants to claim?. I guessing that will be when it is his. Until then it will be Bush’s.

Pogo

May 19th, 2010
4:27 pm

Obama now has Goldman Sachs Group Inc (GS.N), Citigroup (C.N), JPMorgan (JPM.N) and Bank of America (BAC.N) and GE forking over 10’s of millions (in addition to an undisclosed amount of taxpayer money from the Fed) bailing out a “community lending” bank in Chicago that happens to be affiliated with Valerie Jarrett, his Chief Advisor (also from Chicago). Seems a couple of these took taxpayer bailout money, doesn’t it? When are you progressives going to admit that this man is as crooked and deceiving (or maybe more-so) as any other politician that has ever existed? His ego tells him he doesn’t have to endure the same media scrutiny that others have therefore he acts as he wants. The media, just like Jay and the AJC, give him a free ride on everything. As I said the other day, Obama would make one fine dictator because he has the ego, the cunning and media support to do it. Perhaps that’s where Woody Allen was coming from. He recognizes a fine dictator when he sees one.

AmVet

May 19th, 2010
4:29 pm

Pogo!

I told chuck earlier to quit ragging on dictators!

Saint Ronnie LOVED them! He never found one he wouldn’t arm and fund…

SoCo, I agree. His predecessor’s legacy of abysmal failure is secure. Nothing can change that now.

BHO ran for office, knowing full well that he was being left a clusterf&ck of proportions never before seen in this nation (short of the disaster that the bigot Herbert Hoover left for FDR) and he volunteered to clean it up.

It remains to be seen whether he is competent in doing so…

John Birch

May 19th, 2010
4:29 pm

O is responsbile for his poorly conceived and executed sxtimulus bill, which hasn’t created any jobs that I can see so far, but that’s all. The economy as a whole is so large and so complex neither the POTUS nor congress can steer it very accurately. GDP is healthy and Wall Street is doing well but we continue to have 17% or so unemployed or underemployed and the housing market hasn’t reached bottom yet.

Jefferson

May 19th, 2010
4:32 pm

That’s pretty funny.

josef nix

May 19th, 2010
4:34 pm

Off topic # 1 since Santa Bruin is making a list and checking it twice and know I’m going to ask this anyway…

Unmentionable just came in from the store and says Salman Rusdie is signing books. Anybody heard anything about that…?

Finn McCool

May 19th, 2010
4:36 pm

St. Croix on the company dime! Let the rum flow!!!

josef nix

May 19th, 2010
4:38 pm

Look, Ima Gonna asked for it and got it. Now the question is, what you gonna do with it. Jobs before anything else..

JohnnyReb

May 19th, 2010
4:39 pm

There’s nothing like facts, so I concede Obama is not the first to blame his predecessor this far into his term. No, my failure to remember is not from age, but more likely that during that time I was single with other than policitcs on my mind. Plus, Reagan blaming Carter sure goes down better than Obama blaming Bush!

Hillbilly Deluxe

May 19th, 2010
4:41 pm

When it comes to those people in Washington, if somebody f@rted in a crowded elevator, they’d all point fingers at each other along party lines.

Curious Observer

May 19th, 2010
4:46 pm

Last off-topic post of the day for me: Edward G.Uhl, co-inventor of the World War II bazooka and the combat support aircraft called the Warthog A-10, has died in Maryland at the age of 92,

Recent Grad

May 19th, 2010
4:47 pm

Really not interested in things that happened before my time. In response to your question: right about now.

Southern Comfort

May 19th, 2010
4:48 pm

AmV

If I were his speech writer, this would be the beginning of the next State of the Union address:

“America, our economy can be best described as a fan flinging fecal matter. It’s already hit and spreading fast. No more time to blame who for what. This is my economy now, so everyone can shut up about it. Since it’s my economy, we’re going to do things my way. If you don’t like it, Delta’s ready when you are. Either that, or you can replace me in 2012 if the economy has improved.”

It might end up being employment suicide, not to mention political suicide, but I’d send the message that it’s time to quit playing and get to work. Either the opposing party work to make things better or do nothing at all. Sandbagging from both sides got us into this mess, and both sides will need to get us out.

josef nix

May 19th, 2010
4:48 pm

My question is when does Alexander Hamilton’s economy become anybody else’s?

jj

May 19th, 2010
4:57 pm

Jay, the fed projections for unemployment do not include the nearly 300,000 teachers that will be laid off come June or July. Unemployment will continue to be very close to 10%….not good.

Shane

May 19th, 2010
5:03 pm

Does it divert attention away from Dems reluctance to deal with deficits and their role in exploding them? Sure does.

Republicans have been more responsible for exploding deficits than the Democratic party. Reagan and Bush Jr alone racked up more debt than every other president combined.

md

May 19th, 2010
5:03 pm

“Had our “genius” CEO’s not decided to ship jobs to cheaper labor pools in search of those continuing profits, we’d have friggin’ jobs to pull us out of this recession.”

Sorry SoCo, can’t agree. If those jobs were here paying higher wages, the cost of the product would more than likely also be higher. If that is the case, higher cost goods don’t sell well in a recession, so those jobs would be gone.

The truth of the matter is we have it really good compared to a large portion of the world, so our labor will always be higher until they catch up.

Global goods and trade can care less about our cost of living or living standards.

TaxPayer

May 19th, 2010
5:04 pm

Actually, Obama’s trillion dollar annual DoD expenditure has created a bunch of million dollar men and 3/4 million dollar women as well as propped up a multitude of other businesses including Halliburton, United Technologies, Lockheed, etc. The war machine is still very much alive and well and providing many a job and company profit at taxpayer’s expense. Don’t ya just love those value-added expenditures. A real bang for the buck.

josef nix

May 19th, 2010
5:04 pm

jj

Laying off 300,000 teachers ought to REALLY improve the economy. Keep that up and this 10% is going to look like the glory days a few years from now…

Top to bottom–stupidest bunch of jacka33es to come down the pike in years. Seems to me HIRING 300,000 teachers might make more sense now and in the long run…and the cost? A pi33 in the bucket compared to what that pack of hawgs at the slop trough of the public coffer are making off with for them and their buddies…

Del

May 19th, 2010
5:05 pm

Obama’s same old high school Harry routine is making him appear less presidential each time he appears in public. The approval rating polls certainly don’t show him being held in high esteem and Congress doesn’t show up very well either. I think it’s too soon for predictions but the Dem’s sure don’t have any real reason to put on smiley faces.

Hillbilly Deluxe

May 19th, 2010
5:06 pm

My question is when does Alexander Hamilton’s economy become anybody else’s?

I don’t think you or I will live to see that.

md

May 19th, 2010
5:14 pm

Ever heard a commanding officer in the Navy say “give me that ship and I’ll call her mine in a year or two”.

No. He assumes command – warts and all.

AmVet

May 19th, 2010
5:17 pm

SoCo, we don’t need no stinking jobs! (Not when the struggling CEOs are only making what three hundred workers are making.)

And don’t say i haven’t warned the nascar neo-cons.

http://www.saferacer.com/hans-device-hans-professional-device.html?productid=595

Get ready for the whiplash!

Lord Help Us

May 19th, 2010
5:18 pm

md, what if the ship(t) didn’t float…

joan

May 19th, 2010
5:21 pm

Just because a hole is deep doesn’t mean you have no responsibility for digging it deeper.

AmVet

May 19th, 2010
5:21 pm

Yep, fake capitalist supporters, CEO pay grew by 298% from 1995 – 2005.

But the American worker? 4.3%

Let them eat cake…

md

May 19th, 2010
5:22 pm

“md, what if the ship(t) didn’t float…”

Then the commander may want to consider another ship.

Shane

May 19th, 2010
5:24 pm

I think it’s too soon for predictions but the Dem’s sure don’t have any real reason to put on smiley faces.

I have one on. When the de facto head of the Republican party is Sarah Palin, a swimsuit model from Alaska, your party is in trouble.

md

May 19th, 2010
5:24 pm

Hey AM,

You do know that we have more mom and pop corps than big box corps – right?

josef nix

May 19th, 2010
5:25 pm

AmVet
@ 5:21

Kinda casts a new light on “too big to fail,” doesn’t it?

AmVet

May 19th, 2010
5:25 pm

Too bad Admiral Bush never found an iceberg he could avoid…

“You do know that we have more mom and pop corps than big box corps – right?”

???? What about the price of tea in China?

DoggoneGA

May 19th, 2010
5:25 pm

“No. He assumes command – warts and all.”

Yes, he does…and then he requisitions he money, men, and supplies needed to get that ship in fighting trim. Knowing that it’s going to take time, and that the expense is going to seem out of line…until the ship proves itself in battle.

We’re still in the “getting it shipshape” stage.

josef nix

May 19th, 2010
5:26 pm

md

I have more dimes than dollars, too…

md

May 19th, 2010
5:28 pm

“What about the price of tea in China?”

A whole lot cheaper than here.