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So the president is obviously going to try. He is going to have. And to some extent, you have to feel sorry for him. This is in large degree not his fault. Things are happening way beyond his control. I don't believe a president has control over a quarterly economy in any case. But the European situation is certainly not his fault. The Chinese slowdown is not his fault.
And the Europe thing cannot be underestimated. There was a study by some economists this week that, say, Greece leaves the euro peacefully. Well, that reduces growth to our 1.7. Say it brings Spain and Italy, and it as much messier. Then it is even worse. Obama has really very little control and he's sort of a victim of this myth that presidents control the economy quarter to quarter.
Isn't he just telling the truth? Especially when talking about market economies like America's. I mean a communist/socialist economy is probably the only economy where one leader can actually try to dictate economic outcomes.
Absolutely, he's right about presidents not having much control over the economy. But as long as presidential candidates make promises to improve the economy, they perpetuate this myth.
Isn't he just telling the truth? Especially when talking about market economies like America's. I mean a communist/socialist economy is probably the only economy where one leader can actually try to dictate economic outcomes.
So Obama is held hostage to global economic conditions, but Bush wasn't?
If we had a less-dumbed down debate we would focus on specific policies and whether they are good or bad. But for better or worse (prolly the latter) we're stuck with the concept of the president 'running' the economy, like King Canute of whom it was said had the power to hold back the sea.
A lot of this thinking traces to the Clinton Admin, when Dems magically attributed the good economic times to be wholly due to the masterful direction of Pres. Clinton. Now it's coming back to take a chunk out of Dems' rears.
A lot of this thinking traces to the Clinton Admin, when Dems magically attributed the good economic times to be wholly due to the masterful direction of Pres. Clinton. Now it's coming back to take a chunk out of Dems' rears.
Yeah Clinton had good timing on his side coming into office(end of the Cold War,tech boom etc). Even Paul Krugman basically implied that the 90's boom economy wasn't because of Bill Clinton's economic genius.
The problem of course is Obama and the Democrats sold the public on things like the stimulus, and recovery summer etc, and those things cant happen unless Obama actually thought he did have control.
The truth is no, the President has absolutely no control, which was why his policies were destined for failure to begin with. But they didnt listen, and as a result, he will pay a price.
With THIS guy (Obama) he can and did make things worse!
'Usually' you have a Congress to hold reins on the Executive Branch and it's policies!
Not so with this guy!
Instead of working to make the situation better .. A President who is only interested in Shoving His Socialistic agenda down a country's collective throat .. Destroys whatever 'up-tick' an economy might have experienced without a Socialist (And Dictatorial )bent!
In regards to Clintoon .. He was smart enough to see the writing on the wall .. 'lean' to the Right and follow the advice of a Republican House a-n-d Newt Gingrich!
Isn't he just telling the truth? Especially when talking about market economies like America's. I mean a communist/socialist economy is probably the only economy where one leader can actually try to dictate economic outcomes.
Presidents can not create jobs, but they can set the conditions so do that business's either thrive, or fail. And this presidents policies are failing miserably.
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