Monday, June 18, 2012

New National Review piece: Obama's revisionism: He predicted a strong economy, but blames his failure on Bush.


My newest piece starts this way:
Americans’ patience is running thin. Unemployment has been above 8 percent for 40 months. Since the recovery started, over 7.2 million Americans have given up looking for work and left the labor force. It is during recessions, not recoveries, that people are supposed to give up looking for work.
But it is obviously all Bush’s fault. At least, that is President Obama’s new take. During his big economic address on Thursday, Obama repeatedly said that the economic problems we face today were “a decade in the making.”
But there is a problem with Obama’s logic. Over the last three-and-a-half years, the president and his administration have continually claimed that the stimulus was working and that a robust recovery was starting. If the legacy of the Bush administration policies was going to hinder the recovery so badly, why did Obama keep on predicting that things were going to get better soon? . . .

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