Sunday, September 23, 2012
Listen, we have a semi-capitalistic system ('semi' because the government is too deeply imbedded in the private markets, usually as a stumbling block) and that system has a business cycle. We have steady to very good growth punctuated by short periods of rapid decline. They used to be called panics, then depressions and now recessions. But as deep as the recession is, almost every time the recovery is just as steep as the decline was (V-shaped--sometimes U-shaped). But this 'recovery' is L-shaped, that is, the recovery is almost non-existent. Yes, we are no longer in a recession but we are not recovering.
Strictly because of the idiotic policies of the current administration. We do need some hope and change and Obama has shown himself incapable of providing either.
It's the same for the "we have created 4.something million jobs..." Well, no, there has been a reinstatement of the jobs lost during the recession, but we're barely back to even, much less in a solid growth period, as is usual, and there is little prospect under this Administration that we'll ever get there, to a normal recovery.
The recession Reagan had in the second year of his first administration was just as bad as the one our President never stops whining about and the net creation of jobs under Reagan was an astounding 16.7 million over 8 years. Beat that, Obama.