Liberals often recite some version of, “we lost 741K jobs in President Bush’s last month of office” and then continue to give President Obama credit for saving the country from another Great Depression. They use this statistic like a weapon, not realizing it can and should be immediately turned against them. The truth of the matter is, the Democrats caused the recession and Obama is keeping it alive. It’s Obama’s recession and here’s why.
The Democrats won control of the Congress and Senate in November of 2006. The job loss under President Bush began in November of 2006. There’s a nice graph of this here contained in this article by Sean Patrick Hazlitt.
This makes perfect sense because businesses plan for the long term, when they can, and react swiftly when they can’t. With liberals taking control of both Houses and Barack Obama’s star on the rise, the outlook for business success was bleak. There are many pundits analyzing the economy and making predictions. Opinions vary on causes and cures, however a common phrase one hears in analyses across the board is “macro economic uncertainty.”
With tremendous uncertainty on the horizon, strategic thinking, increased production, HIRING, risk taking, bold thinking and all the things that contribute to innovation and a healthy, wealth building economy disintegrate. The reality of the last six years proves this.
It’s natural to ask, “Then why didn’t the economy turn around in 2010 when the Republicans took over Congress?” The answer is simple. The Democrats still controlled the Senate and Obama’s defeat in 2012 is not assured.
The macro economic uncertainty, which grew rapidly from the Democrats’ victory in 2006 and Obama’s election in 2008 not only caused the recession but it’s keeping it alive.
Side Note: Congressman Rohrabacher (CA 46) had the vision and courage to submit Congressional Resolution H.RES.422 regarding the “Superiority of Capitalism as an economic model.” Capitalism, by definition a system of voluntary mutually beneficial exchange, is a system characterized by the absence of force and the pervasiveness of persuasion. “The Rohrabacher Rule” can be read at this link. If you support the ideas presented in this bill, please click this link to email ANY Representative, asking them to join Congressman Rohrabacher by Co-Sponsoring this resolution.
I invite you to follow me on Twitter @kids4biz