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Speaking of economic headwinds, Reagan “inherited” a GDP rate of -3.2 percent. You inherited a GDP rate of -4.9 percent. Two and a half years after Reagan took office, however, GDP was at 5.1 percent (and exploded to 9.3 percent the next quarter). Two and a half years after you took office GDP growth is at 1.3 percent (and as likely to implode as explode next quarter).
When will the rubes in the WH realize constantly complaining about what obama "inherited" makes him look childish, petty and reticent to take responsibility for his own failures?
You need to also recognize that Reagan increased the national debt as a percent of GDP 11.3% during his first term and 9.3% in his second. Before that, with the exception of Nixon/Ford, this had always gone down, even under Carter. Obama inherited the worst recession since the Great Depression - so to say he crippled the recovery is not correct. While the recovery is anemic, it is better than what he inherited.
People whine that Obama is some sort of socialist, however the fact is that American business is sitting on over 2 trillion in cash. If Obama was a socialist, he would nationalize these companies and make them spend it. He can't do that nor as he has said does he want to.
or an entire political party whose only purpose was to defeat him in the next election and gridlock DC in the process....or 87 virgins..I mean tea baggers
Reagen actually started this mess by running government deficits. Sure, the economy grew but because he was spending so much to do so without increasing taxes - hence massive deficits. Didn't he add $3tn to the national debt? That debt was added too by every President since and now its become unsustainable.
Don't credit Reagen with anything - the guy was a terrible President, but then I wouldn't expect the OP to know squat about anything, and certainly not economics. Obama mentions Reagen because actually they're not all that different.
You need to also recognize that Reagan increased the national debt as a percent of GDP 11.3% during his first term and 9.3% in his second. Before that, with the exception of Nixon/Ford, this had always gone down, even under Carter. Obama inherited the worst recession since the Great Depression - so to say he crippled the recovery is not correct. While the recovery is anemic, it is better than what he inherited.
People whine that Obama is some sort of socialist, however the fact is that American business is sitting on over 2 trillion in cash. If Obama was a socialist, he would nationalize these companies and make them spend it. He can't do that nor as he has said does he want to.
Lemme see if I get this straight: Just because Obama would end up in prison if he tried to nationalize private businesses that means he's not a socialist? That's tenuous proof of the man's proclivities if you ask me. Bear in mind: Half the tenured class in this country is socialist to one degree or another. Why would a man with so many connections to socialist and communist agitators (Ayers, Van Jones, and others) expect immunity from being accused of being a socialist just because something called The Rule of law prevents him from confiscating all the wealth? (Though he's certainly trying his best along those lines via the tax system.)
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