Tuesday, March 3, 2009

Why is Obama's economy sinking?

Remember the campaign speech Obama made in which he claimed that he would cause the sea levels to lower? I'm beginning to think that he was speaking metaphorically and that "seas" was intended to be our economy.

The Obama Economy (WSJ Online)
BLANKLEY: Obama lied; the economy died (Washington Times)
Cramer on Obama's Handling of Economy: 'It's Amateur Hour at Our Darkest Moment' (Business and Media Institute)
A Moderate Manifesto (NY Times)
A real breakdown of Obama's stimulus bill (Stormin's Morning Java)


Flavor Country said...

I have no problem with you or anyone else calling this "Obama's economy" (although I don't remember you posting anything about it being Bush's before) now, as long as you do it when things are turned around, agreed?

Take Care

Chuck said...

To an extent I agree with Flavor. Bush still has to take responsibility for what's happening now.

We did see the same thing happen in 2000 though. Economists largely agreed that the recession we were in then started in the Clinton administration but guess who got credit for it?

With that said, we cannot still be blaming Bush in a year or two and we all know that the media and Obama will be attempting to do just that.

Also, Bush and Obama aside, a lot of what is happening now is the responsibilty of Congress and it has been controlled by the Dems for two years.

Finally, some of what is happening now, especially with the stock market is directly related to choices Obama has made so far. There has been a direct correlation between his announcements and the Dow sinking.

Good thing about the economy is there is usually enough blame to go around.