The economic pattern of the early 1980s may well be repeated. The US economy is likely to start to recover strongly, with a growth rate of more than 5 per cent expected this month.
But it looks increasingly doubtful that Mr Obama and the Democrats will enjoy the benefits. Having won Massachusetts, the Republicans will have no compunction in claiming that what saved the US economy was the conservative backlash. If the Democrats fail to challenge them, this is the version of reality that American voters will start to believe.
Should have blamed Bush? He has blamed Bush for everything under the sun! How about he should accept some responsibility!
I think this is further proof that the Democrats are still in the denial phase about the election in Massachusetts. If you actually listen to the speeches that Obama and the other big guns were saying when they were trying to prop up Coakley’s campaign, they blamed Bush plenty. Granted, Obama was on a rampage against banks, too, but if you listen to what he said, he was labeling them all with the same brush specifically by name.
In any event, I think the Democrats would make a huge tactical mistake if they continue to solely bash Bush. He’s gone and out of the picture, and has been for basically over a year and half now. They played the “It’s all Bush’s fault: HopeChange!” trump card and won that hand in 2008. People aren’t going to buy it again if they try to continue to beat a dead horse.
Warren Buffett correctly nailed Obama for his hypocrisy in seeking to punish the banks by imposing a tax on them, while not mentioning the real culprits, Fannie and Freddie, which are under the control of the Democrat Congress. Buffett asked why a penalty tax is not being imposed on Congress for its mismanagement in its oversight of Fannie/Freddie?
And the worst congressional offender is Barney Frank.
Unfortunately, Congress is “too big to fail.”
Or so they think. At this rate of performance, just wait till the voters get through with them in November.
Ah! Bush Derangement Syndrome is alive and well. Even across the Pond and near the Thames. http://www.imao.us/archives/006272.html
Br. Michael,
And Chris Dodd. They were both responsible for pushing against proposed regulations that would have prohibited banks from loaning money to those who clearly could not pay it back.
Bad wording. “That would have allowed banks to refuse loans to those who could not pay it back.”