Its not as simple as that. Yes, Obama has done a much better job than Bush did, and a much better job than war monger McCain, economic predator Romney, or any other Republican would have done. But he has made mistakes. The most serious is the failure to make getting the economy back to full employment as quickly as possible the overriding objective of his economic policy. Most importantly, he failed to promptly fill all the vacancies on the Board of Governors of the Federal Reserve System with people who would take the Feds congressional mandate to seek maximum employment seriously enough. With a more aggressive monetary stimulus, the economy would be back to genuine full employment by now. An he played into the hands of the Republicans in 2010 by switching the emphasis in the administrations fiscal policy from stimulus to deficit reduction. Deficit reduction when an economy is depressed slows, and can even kill, the recovery.
Posted on: Wed, 24 Dec 2014 23:20:42 +0000
Trending Topics
Recently Viewed Topics
© 2015