Here are some words we did not hear from Sen. Barack Obama as he
campaigned for the presidency back in 2008, as the Great Recession
gathered:
“Now, I won’t pretend the path I’m offering is quick or easy. I never have….[T]he truth is it will take more than a few years for us to solve challenges that have built up over decades. It will require common effort and shared responsibility, and the kind of bold, persistent experimentation that Franklin Roosevelt pursued during the only crisis worse than this one.”
No, this was President Obama last week. In 2008, he gave no clue that his recession-fighting methods would take time—so much time that he’d be talking about the need for more time come the next election four years down the road.
In 2008, when he accepted the nomination, lest we forget, Obama’s gems were of this variety: “[M]any of [my] plans will cost money, which is why I’ve laid out how I’ll pay for every dime….I will also go through the federal budget, line by line, eliminating programs that no longer work and making the ones we do need work better and cost less.”
OK, so that was all cashiered in favor of $1.4 trillion deficits and one of the lamest economic growth programs of all time. And by the way, Obama’s attempt to associate the achievements of his first term with those of FDR’s is specious. Ex-federal government GDP growth in the four years after FDR accepted his party’s nomination in the summer of 1932 was about 30%.
Read more: http://www.forbes.com/sites/briandomitrovic/2012/09/11/obama-has-had-plenty-of-time-but-gave-us-0-3-growth-instead/
“Now, I won’t pretend the path I’m offering is quick or easy. I never have….[T]he truth is it will take more than a few years for us to solve challenges that have built up over decades. It will require common effort and shared responsibility, and the kind of bold, persistent experimentation that Franklin Roosevelt pursued during the only crisis worse than this one.”
No, this was President Obama last week. In 2008, he gave no clue that his recession-fighting methods would take time—so much time that he’d be talking about the need for more time come the next election four years down the road.
In 2008, when he accepted the nomination, lest we forget, Obama’s gems were of this variety: “[M]any of [my] plans will cost money, which is why I’ve laid out how I’ll pay for every dime….I will also go through the federal budget, line by line, eliminating programs that no longer work and making the ones we do need work better and cost less.”
OK, so that was all cashiered in favor of $1.4 trillion deficits and one of the lamest economic growth programs of all time. And by the way, Obama’s attempt to associate the achievements of his first term with those of FDR’s is specious. Ex-federal government GDP growth in the four years after FDR accepted his party’s nomination in the summer of 1932 was about 30%.
Read more: http://www.forbes.com/sites/briandomitrovic/2012/09/11/obama-has-had-plenty-of-time-but-gave-us-0-3-growth-instead/
No comments:
Post a Comment