Obama Is Getting A Bad Rap

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Editor:

President Obama and the Democrats in Congress have received a really bad rap for the slow recovery from this recession.

Between 2000 and 2008 the Republican majority in Congress and President Bush deregulated the banks and mortgage markets, failed to provide proper oversight of these enterprises, enacted major tax cuts, and conducted two unfunded wars.

These irresponsible actions resulted in a greatly increased national debt and precipitated an economic collapse of a magnitude similar to that preceding the Great Depression.

President Obama and the Democratic majority in Congress, with little or no help from the Republican minority in Congress, have prevented a major depression by keeping most of the banks from collapsing, rescuing two of the major American automobile manufacturers, instituting a variety of economic stimulus programs to put people back to work or prevent them from losing their jobs, and providing extended unemployment compensation for those who did lose their jobs. They are on the way to getting America back on track, but it will take time because the economic collapse was so large.

It is not the time to throw Democrats out of office and replace them with the people whose policies got us into this mess. We need to elect and re-elect Democrats to get us out of this recession and more importantly to prevent another great depression.

If you think the federal deficit is large now, imagine what it will be with 30 percent unemployment! Elect more Republicans and you are likely to find out.

Robert Hershberger

Comments

Dan Varnes 4 years, 1 month ago

QUOTE: "It is not the time to throw Democrats out of office and replace them with the people whose policies got us into this mess."

Only someone with a very poor understanding of political and financial history would make a statement like that.

There is more than enough blame to go around and both D's and R's are part of the problem. It's really foolish to pretend that Democrat politicians are the solution to the massive, worldwide problems that have been created.

Start your search for the truth by typing "Glass Stegal Act" into your search engine. Then, try to get the full story of the crooked system started by the Federal Reserve and you'll soon be on the right track to knowing the truth and not just blindly championing any politician with a "D" after his or her name.

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