Things were horrible when Obama took office

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I watched "The Big Short" recently, and it reminded me of just how bad things were - companies like Bear Stearns completely collapsing. Millions of people losing their jobs. The talk, at the time, was that we might be on the verge of another Depression.

I don't know how much credit Obama should or shouldn't get for where things are now, though I do think the stimulus was a vital measure to right the ship. But I do know that the portrayal of his admin on the GOP campaign trail is ridiculous - while the economy is hardly great right now, the question "are you better off than you were 8 years ago" is a pretty clear 'yes' for most, and certainly for the country as a whole. We were in dire straits.

I really don't doubt that if Romney had won in '12, and things were exactly the same economically as they are now, the talk would be how he saved America from Obama's terrible fiscal policies and that we are back on track.
 
Worst recovery ever, doing nothing at all would have performed better. As happened with his model FDR, you can't spend your way out of recession.
 
You referenced this Onceler but considering where we were that things are better wasn't all that hard of a proposition. The real question is would things have been even better under a different President? Obviously we'll never know. We can look historically at other recoveries to get an idea of what to compare this one too. The other determining factor is the role of the Fed and its QE program. What, if any, long term percussions might we face as a result.
 
cawacko said:
You referenced this Onceler but considering where we were that things are better wasn't all that hard of a proposition. The real question is would things have been even better under a different President? Obviously we'll never know. We can look historically at other recoveries to get an idea of what to compare this one too. The other determining factor is the role of the Fed and its QE program. What, if any, long term percussions might we face as a result.
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You can look at other recoveries, but the recession that occurred at the end of the Bush presidency has nothing of such magnitude to compare it to. It was unique and of a size incomparable to other recessions. Pretend as you might, its simply not comparable.
 
Jarod said:
You can look at other recoveries, but the recession that occurred at the end of the Bush presidency has nothing of such magnitude to compare it to. It was unique and of a size incomparable to other recessions. Pretend as you might, its simply not comparable.
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Pretend? If so a lot of economists have wasted their time. Too bad they didn't talk to you first.
 
cawacko said:
You referenced this Onceler but considering where we were that things are better wasn't all that hard of a proposition. The real question is would things have been even better under a different President? Obviously we'll never know. We can look historically at other recoveries to get an idea of what to compare this one too. The other determining factor is the role of the Fed and its QE program. What, if any, long term percussions might we face as a result.
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I agree on the Fed policies, but disagree that it wasn't a hard proposition. The banking system basically failed. I don't think the historical comparison of recoveries is that relevant considering the circumstances.

I just don't think Republicans can have it both ways. When the stimulus passed, the criticism from the right was at a fever pitch. There was no doubt - it was going to make things worse, take the market even lower, cause more job loss and likely take us into a Depression. I don't think a Republican who was doing that kind of chicken little routine in 2009 can come back in 2016 w/ the way things are now & claim that Obama failed on the economy.
 
cawacko said:
Pretend? If so a lot of economists have wasted their time. Too bad they didn't talk to you first.
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Many grasp for anything they can find but to make the claim that we should have recovered from this one faster because we recovered from the other, less severe ones faster is dubious.
 
Jarod said:
You can look at other recoveries, but the recession that occurred at the end of the Bush presidency has nothing of such magnitude to compare it to. It was unique and of a size incomparable to other recessions. Pretend as you might, its simply not comparable.
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the recession wasn't that bad........it was the fucked up recovery that hurt us.......
 
PostmodernProphet said:
a shame Obama didn't do anything to actually soften it.....instead he accelerated it and MADE it the worst downturn........
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Sorry it became an upturn within 6 months of Obama taking office. You are a silly person.
Your like Trump predicting a huge recession unless he is elected.
 
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