Comments on: Did Obama save U.S. from a depression? Not so much

By: hecatr

hecatr — Thu, 23 Jun 2011 14:56:54 +0000

The so-called stimulus served the interests of the District of Columbia and state capitals across the country, delaying necessary budget cuts. Texas recently had to close a $27 billion gap, which it would have done earlier had not Gov. Perry accepted billions in stimulus money. Basically all those government workers got an extension of their cushy benefits while the private sector tightened its belt and shed real jobs. Obama has said twice there were no shovel-ready jobs.

By: EddieB33

EddieB33 — Wed, 22 Jun 2011 21:14:16 +0000

Just because the economy had hit bottom before the stimulus took effect doesn’t mean that the economy would have improved without it. And saying that the recession officially ended before the majority of the money was spent doesn’t really mean much either. The economists may say it ended in June of 2009 but workers would say otherwise. I don’t believe the stimulus was ever intended to satisfy economists’ views on the recession – it was meant to put people back to work, and it accomplished that goal to a greater degree than doing nothing would have.

As for the last sentence claiming that Obama made the economy worse, what is the evidence of that claim?

By: EddieB33

EddieB33 — Wed, 22 Jun 2011 21:09:44 +0000

As for the last sentence claiming that Obama made the economy worse, what is the evidence of that claim?

By: rcd1160

rcd1160 — Wed, 22 Jun 2011 14:57:49 +0000

I do not care for any President, Senator or Congressman what so ever. That being said, we have all these economic armchair quarterbacks that sit back and critized now but did not stand up in the beginning and say what the common person wanted in the first place which was let the whole damn thing collapse and toss out every wealthy crook and make do with what shakes out. But no. these same individuals of all levels of expertise and education have critized every President that have ever served. What a bogus article.

By: mikemm

mikemm — Wed, 22 Jun 2011 14:48:40 +0000

This article has a definite political slant and leaves out any data that contradicts the author’s view.
He seems to have forgotten about the bank failures an dteh impacts to the auto industry that account for a large percentage of employment with all of their associated business with suppliers and many other jobs.
Failing to enact a stimulus could have easily spawned a run on banks and much worse unemployment than we experienced, which is not the same but similar to the run up to the great depression.
He also chooses to only point fingers at the Obama administration, when the Bush White House with some of the same advisors saw the need for a stimulus and passed the first TARP program and considered other possible actions.

By: BB1978

BB1978 — Wed, 22 Jun 2011 13:20:57 +0000

Um, the great depression had 25% unemployment, in addition to a whole host of other problems we are not currently experiencing. Consult your history book before your write headlines for your commentary. You know, to make sure they are accurate.

By: Elektrobahn

Elektrobahn — Tue, 21 Jun 2011 15:58:00 +0000

Mr. P: Precisely.

Although initially I welcomed Mr. Obama’s election in 2008, I have felt since early 2009 – at the time Mr. Obama won his Nobel Prize – that this guy was basically a fraud and all of his policy manoeuvres merely made a bad situation much worse. Stimulus, indeed, and the disastrous Medicare reform. That and Mr. Bernanke’s money printing have done nothing to improve the US economy. Not much of a record to run on.