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Sanity -> RE: Reality vs. Republicans (10/13/2014 7:00:33 PM)
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quote:
ORIGINAL: cloudboy
(1) Dialed down two wars.
(2) Kept the USA from tipping over into a GREAT DEPRESSION.
(3) Has cut medicare spending costs.
(4) Boosted American productivity be expanding health care coverage.
(5) Reduced unemployment to under 6% percent.
(6) Did not propose or argue for stupid Europeanesque austerity measures.
(7) Put in deferred action to protect children from deportation -- allowing them to legally go to school and enter the American workforce.
(8) Helped turnaround US auto industry. (Since bottoming out in 2009, the auto industry has added more than 100,000 jobs. In 2011, the Big Three automakers all gained market share for the first time in two decades.)
(9) Recapitalized Banks: Got banks back on their feet at essentially zero cost to the government. (Bush helped here as well.)
(10) Kicked Banks Out of Federal Student Loan Program, Expanded Pell Grant Spending: Treasury will save $67 billion over ten years, $36 billion of which will go to expanding Pell Grants to lower-income students.
(11) Fought the Tea Party head-on over the Government Shutdown and refused to let the USA default on its national debt.
(12) The auto rescue plan has worked. American car manufacturers are still dominant and employing millions directly and in supplier companies. Wall Street reform has been painful but it has re-instated faith amongst investors. The markets are far more predictable than they were four years ago, as VIX numbers demonstrate greater faith and less risk.
Even for small investors, such as those limited to their 401(k) or IRA investments, the average annual compound return on stocks under President Obama has been more than 24% since the lows of March, 2009. This is a better result than either Clinton, Reagan or FDR – who were the prior winners in our book. (Forbes Magazine)
(13) BBBB – Firstly, let’s review just how bad things were in 2009. In 2000 America was completing the longest bull market in history. But by the end of President Bush’s tenure the country had witnessed 2 stock market crashes, and the DJIA had fallen 58%. This was the second worst market decline in history (exceeded only by the Great Depression,) and hence the term “Great Recession” was born.
In 2000, at the end of Clinton’s administration, the Consumer Confidence Index was at a record high 140. By January, 2009 this index had fallen to an historic low of 25.3. Comparatively, when Reagan took office at the end of the economically weak Carter years the Confidence Index was still at 74.4! Today this measure of how people feel about the country is still nowhere near 2000 levels, but it is almost 3 times better than 4 years ago.
Significantly, in 2000 America had a budget surplus. By 2009 surpluses were long gone and the country was racking up historic deficits as taxes were cut while simultaneously outlays for defense skyrocketed to cover costs of wars in Iraq and Afghanistan. Additionally, banks were on the edge of failing due to unregulated real estate speculation and massive derivative losses.
Today the Congressional Budget Office is reporting a $200B decrease in the deficit almost entirely due to increased revenue from a growing economy and higher taxes on the wealthiest Americans. The deficit is now only 4% of the GDP, down from over 10% at the end of Bush’s administration – and projections are for it to be only 2% by 2015 (before Obama leaves office.) America’s “debt problem” seems largely solved, and almost all due to growth rather than austerity.
We can largely thank a fairer tax code, improved regulation and consistent SEC enforcement. Also, major strides in health care reform – something no other President has accomplished – has given American’s more faith in their future, and an increased willingness to invest. (Forbes Magazine)
You can copy&paste propaganda really well, but you cannot answer a simple, direct question
Such towering intellect
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