I can remember, during Bush’s presidency, the unemployment rate going down every month, the stock market going up, real wages going up, and all sorts of economic indicators supporting the fact that the economy was strong, getting better … for everyone. Despite month after month of data supporting Bush’s claim that his tax cuts succeeded in getting us out of recession into a period of record-breaking economic growth, Democrats found all sorts of ways to talk the economy down, and pretend as though we were living in hard economic times like the Great Depression.
So, now, with an economy now owned by Obama and his party, with the unemployment rate getting higher, we’re getting equally ridiculous claims of how Democrats “rescued” the economy, and today, Obama even tried to take credit for an economic turnaround.
President Obama on Saturday continued his administration’s careful efforts to take credit for the slowly improving economy, using his radio address to tout the economic turnaround since world leaders met in London in April.
At the time of the G-20 summit, the world’s economic situation was dire, Obama said in the radio address. The meeting in London marked “a crisis that required unprecedented international cooperation to jumpstart the world’s economies and help break the downward spiral that enveloped all our nations,” he said.
Next week, Obama and the same world leaders will gather in Pittsburgh for what Obama called “a five-month checkup” on the financial actions taken by their countries.
“Because of the steps taken by our nation and all nations, we can now say that we have stopped our economic freefall,” the president said in the address, which is broadcast on the radio and the internet.
But the president was quick to note that he is not satisfied with the extent of the recovery in the United States or globally, saying that “stopping the bleeding isn’t nearly enough.”
“Our work is far from over,” he said. “We know we still have a lot to do, in conjunction with nations around the world, to strengthen the rules governing financial markets and ensure that we never again find ourselves in the precarious situation we found ourselves in just one year ago.”
How’s that for audacity? As i recently wrote for the American Issues Project, “How can [Obama] claim the economy has rescued even as economists are warning of a double-dip recession, his own economic advisor says there may be high unemployment for years to come, US credit is shrinking at a Great Depression rate, and so on and so forth?” Some economists also put the true unemployment rate in double digits.
Are we really supposed to beliieve Obama when he says that two plus two is five? For Obama to claim he rescued the economy is like him taking credit for curing polio and discovering uranium. Sadly, there are plenty willing to drink that Kool-Aid, and talk about a million jobs “saved or created” as 7.4 million Americans have lost their jobs in less than a year.
Two plus two is five, is that the “change” Obama was talking about?