Posted by
Gerald R Evans on Monday, January 19, 2009 10:51:05 PM
Tomorrow America celebrates the election of its first black (ok, partially black) President. Tomorrow I celebrate the fact that the Obama Administration only has 100 days until it must start to take responsibility for their actions during the previous administration. The failure to reign in GSEs such as Fannie Mae and Freddie Mac, which rests not only with Democrats but with Republicans as well, being one of them. The Housing Bubble has burst, just like the S&L bubble and the dot-com bubble. But, unlike these previous economic slow-downs, turn-downs, recessions or whatever you want to call it, there has been no quick rebound, such as the one seen after the dot-com bubble burst or after 911. Why? Not pointing any fingers, but certain political groups do not want the economy to make a comeback unless they can be seen as the driving force behind such a recovery. How do they do this? By allowing fear and panic to remain in the public's mind as long as possible, by telling everyone that it will not get better unless they do something drastic, like spending billions of dollars. What's worse is that some of those who are now our "saviors" are directly or indirectly responsible for the current economic situation.
Please, for a moment, set aside political idealism and party affiliation and look at the facts. The economy did quite well under President Clinton. Much praise for Clinton has been branded about by certain people as of late (no one on this forum, my boss loved Clinton), but the fact that for six of his eight years in office the Congress was controlled my a majority of Republicans seems to elude some. George W Bush had large shoes to fill after beating (or cheating, who cares) Al Gore. He came into office with an economy that was slumping due to various factors and eventually lost a great deal of momentum after 911. But, the economy rebounded and did quite well for some time afterward, it did not climb to Regan-esque or Clintonian levels, but it wasn't slumping as bad as it was right after 911. Then, the midterm elections came about and many Republicans were voted out of office in favor of Democrats. And now after six years of a majority Democrat Congress we are at the brink, if you believe the hype, of another Great Depression. And What can save us?
Only two things Regan-esque economic decisions or another World War. FDR didn't save us with the New Deal, WWII is what pulled the US out of the Great Depression. And Jimmy Carter's horrific fiscal polices were only rectified by a Reganomics.
You have 100 days Mr. President. You have 100 days Speaker Pelosi and Senate Majority Leader Reid. You have 100 days Team Obama. Make them count, enjoy them, because in 101 days you must all stand up and take responsibility for what you, and some of your fellow Congressmen/women and Senators from across the aisle have done to this country and our economic future.