Frank J. Donatelli provides a comparison that pushes back against progressive ignorance
He (Obama) has said that he inherited the worst recession since the Great Depression. He didn’t. The economies inherited by both President Gerald Ford in 1974 and Reagan in 1981 were far worse.
Obama has said the stimulus has saved 3 million jobs. It hasn’t. We have nearly that many fewer jobs than before the stimulus was passed in February 2009, and the unemployment rate is 1½ percentage points higher than what he claimed would be the high point once his program was enacted.
Obama has said he is doing all he can to revive the economy. Actually, he’s doing too much. The economic uncertainty that his “historic” health care and budget bills have created is doing more to hold back economic growth than anything else. Companies are hoarding cash rather than invest in Obama’s uncertain economic climate.
As a result, the recovery is anemic by historic standards.
So we have two historic presidents. Both inherited bad economies. One cut spending and taxes, and then, 17 months later, the economy boomed. The other increased taxes and spending. It’s now 17 months later.
Mr. President, we’re waiting.
Further Reading
Obama, Reagan, and the Economy
Peter Ferrara - Timeless Principles of Prosperity
