If you picked Obama, you lose....by a long shot.
This past week almost all of the news anchors reported the latest unemployment stats this way: “Unemployment numbers rose to 9.8 percent in September, the highest since 1983.”
For several days now, the line has been repeated, and each time I want to shout, “Why don’t you say, ‘Unemployment is at 9.8 percent, the highest since 1983 WHEN RONALD REAGAN, GOP SAINT AND SAVIOR was President; yes, REAGAN, THE PRESIDENT WHO ALSO TRIPLED THE NATIONAL DEBT DURING HIS TIME IN OFFICE, the guy whose policies Republican leaders in Congress today praise ad nauseam.’ Why don’t you add that to your report?”
The recession of the early 1980s was severe but nothing like the recession of the late 2000’s brought on in large part by profligate spending and lack of regulatory oversight by federal agencies during the Bush/Cheney administration.
In all fairness to Ronald Reagan, his recession was due primarily to external forces -- the aftermath of the Iranian Revolution which took place in 1979. The new Iranian regime lowered export volume of its oil, thus forcing the price of oil up and precipitating an economic crisis for most of the developed nations. The US adopted a tight monetary policy to control inflation and this led to a recession...and unemployment spiked. (It seems tame when compared to 2007-2008 near collapse of the entire economy.)
Reagan’s unemployment numbers hit 9.8 percent in July 1982 and kept rising. The percentage did not drop below 10 percent for a full year – 12 CONSECUTIVE MONTHS!
The late 2000s recession was started by the collapse of the housing market.Many real estate companies were put in jeopardy, some even collapsed. Many banks did collapse causing a measure of public panic. Available credit spiraled downward, making it almost impossible for anybody to get a loan. Consumer confidence fell like a rock. And that was just the beginning. Many have called the current recession the worst since World War II.
So, to my Republican friends: Obama policies have been in effect for less than six months. Come back to see me IF unemployment remains above 9.8 percent for MORE than a full year.
To my Democratic friends: You have no one to blame but yourselves if you let the R’s get away with claiming Obama’s policies don’t work, won’t work, and that they somehow prove R’s should be back in power.
When they complain about Obama, just say three words to them: "12 consecutive months." Those among the GOP who know better are not likely to ask you to explain what you mean.
