Sunday, April 25, 2010

What Obama has done to the Economy

Under the leadership of President Obama and his administration a number of significant things have happened to the economy while many were distracted. As we are given endless images of a few thousand sore losers funded by far right organizations and promoted by a fake news channel, things have been happening. While Ohio right wing blogs like Liberally Conservative posts pseudo intellectual pieces trying to prove Obama is a Communist, and nut cases promote endless chain letters purporting everything from Obama is Hitler to the Antichrist, his administration has been at work. As they scream about hanging on to their guns and government takeovers Obama has continued on.

So what has been happening.

The 700 billion Bank bailout that angered many Americans and set them off on screams about government spending and the deficit done during the Bush administration, has under the guidance of the Obama administration has not only saved our banking system from catastrophe but now approximately 620 billion has now been paid back.

We went from losing 700,000 jobs a month during the last year of the Bush administration to less and less each month of the Obama administration to now we are actually gaining jobs once again.

General Motors that was on the brink of disaster which would have lead to millions of job losses and a blow to our economy from which we would have never recovered was saved. People screamed "government motors" and all kinds of knee jerk cute phrases that appealed to the ignorant. But here we are a year later and GM has paid back the government in full with interest.

Investors, including millions of Americans retirement plans and 401k, hit the skids as the stock market reached its lowest point in decades under Bush. Under Obama it has recovered most of its value and the Dow Jones industrial average in the 10,000 range once again.

They screamed things like: "death panels", "government takeover" "socialized medicine" when the Health Care Bill was being debated. Yet what we got was Health Care Reform that maintained the private ownership of insurance companies, makes sure that no one can lose their insurance if we get sick, gets rid of preexisting conditions, keeps the young covered under their parents policies, and covers 30 million uninsured Americans all the while reducing the deficit by reducing costs.

So what has been happening while we all weren't paying attention. The economy and yes capitalism is doing quite well. After 8 years of policies that lead this country almost into depression, an actual competent President has been quite successfully leading us toward prosperity. Oh and the most surprising thing of all, he has done this all while lowering the taxes for 95% of Americans.

So shout all you want tea partiers, draw those crowds of 3-8000 angry old white men. But understand its reality that lead to hundreds of thousands at some Obama rallies last election and will lead to his win by a bigger landslide in 2012.

Labels: , , , , ,


Post a Comment

Subscribe to Post Comments [Atom]

<< Home