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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (120227)	9/12/2012 5:14:21 PM
From: RetiredNow	Respond to of 149317

Well, you know I don't like Bush Junior, but your comments are a bit unfair. Bush inherited an economy that was already reeling from the Internet bubble bursting. So that was a very large economic hit. Then 9/11 happened and that was another body blow. So then Bush went on his version of the Democratic spending spree, but he spent the money on tax cuts and the military, while his Keynesian buddy, Bernanke, lowered rates to inflate the real estate bubble as an antidote to the rest of the economy's woes. So that is what you are seeing in the unemployment rate. The challenge for Obama is that he has had it worse than Bush Junior did. Not only that, but Obama's tenure comes at a time when the Fed has really run out of bullets to stimulate the economy in a responsible way. So sure the Fed has pulled some new tricks out of the hate, but their efficacy has been very limited and has had some ugly adverse consequences, the least of which we have yet to feel, but lie dead ahead. Both Presidents are Keynesians. They just implemented their plans in different ways.