My Democrat friends are very excited that unemployment dipped to 8.3% yesterday. How much of this was due to people leaving the workforce (rather than job creation) is a legitimate debate. However, putting that aside, the recession began four and a half years ago and has been over for almost three. Regardless of who you assign the blame to, the recovery has been astonishingly poor as we approach a half decade of economic doldrums. And, this sluggishness is occurring after $5-6 trillion of deficit spending.
As the 2012 election approaches, there will be many passionate defenses of President Obama's economic policies. It will be argued that he made the best of a terrible situation. The persistent sluggishness will be presented as evidence that what was inherited was awful.
When you hear these assertions ask yourself the following questions: Would you agree to replicating President Obama's economic policies the next time we head into a recession? Is the Obama Administration the blueprint for future economic troubles?
Somehow, I think the answer to both is no, rendering the current defenses of President Obama highly suspect.
As the 2012 election approaches, there will be many passionate defenses of President Obama's economic policies. It will be argued that he made the best of a terrible situation. The persistent sluggishness will be presented as evidence that what was inherited was awful.
When you hear these assertions ask yourself the following questions: Would you agree to replicating President Obama's economic policies the next time we head into a recession? Is the Obama Administration the blueprint for future economic troubles?
Somehow, I think the answer to both is no, rendering the current defenses of President Obama highly suspect.
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