Where We Were, Where We Are

The blogfather routinely publishes this chart for obvious reasons.

Click for the original.

I've heard the obvious rejoinder..."well they didn't know how bad Bush had made things"....far too many times.  Bullshit.

If they didn't know how bad it was, then they were obviously not competent to take the job.

I can clearly recall the CBO saying that the recession would only last to the end of 2009 at the worst if we did NOT pass the stimulus bill.  The economy would work things out and we would recover, just as we always have.

Instead, we got an orgy of spending and debt, followed by an expensive national health care bill driving us further into debt, followed by further threats to regulate and tax the very people with the means to create much needed jobs which retarded investment.  There are good reasons to understand why our recovery has been so anemic.  Mr. Obama and the Democrats have done everything in their power to undermine it.

There were some productive elements of the stimulus bill.  The highway construction and repair elements have been very productive.  Obviously the unemployment extensions were worthwhile.  But the rest was just a waste of time and money.

This is why Mr. Obama needs to go.  He has no idea how to create wealth.  He only knows how to consume it.