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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsObama's Greatest Failure
http://theweek.com/article/index/264151/obamas-greatest-failure-the-rapidly-falling-deficitEver since 2009, when the recession and the stimulus package pushed the annual budget deficit to a peak of nearly $1.5 trillion, it has been falling steadily. Last year it came in at $680 billion; this year it is projected to total $492 billion.
This is an absolute disaster. It is President Obama's single greatest failure, representing the fact that he, and the rest of the American government, did not adequately respond to the Great Recession. It means that millions of Americans were kept out of work, that trillions in potential output was flushed down the toilet, and that the American economy was very seriously damaged, probably permanently, for no reason at all.
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My jaw is still hanging. No, this is not the Onion.
spanone
(135,886 posts)if Obama cured world hunger, they'd accuse him of promoting obesity.
JaneyVee
(19,877 posts)While I believe it should have been bigger, most economists agree that it single-handedly helped reverse the shedding of 800,000 jobs PER MONTH.
truebluegreen
(9,033 posts)Buying into Republican framing has been the biggest disaster, and pushing austerity in the middle of a financial crisis is a big part of that. Not unlike, and related to, thinking that Tax Cuts Fix Everything.
Liberal_Stalwart71
(20,450 posts)merrily
(45,251 posts)Bet you could have guessed that from the "fair and balanced" nature of the article.
http://en.wikipedia.org/wiki/The_Week
Cartoonist
(7,323 posts)I found the original article on Yahoo. It linked to The Week, what appears to be a right wing site. Many of its articles have that tea party aroma (not good). But it also has this article: The U.S. recovery is real and getting stronger
http://theweek.com/article/index/264246/the-us-recovery-is-real-mdash-and-getting-stronger
Of course, they give Obama NO credit. They don't even mention his name.
TexasTowelie
(112,453 posts)You will be amazed at how different the reactions are to this story:
http://www.democraticunderground.com/10025190572
Cartoonist
(7,323 posts)I did look to see if the article was already in discussion. The two threads are sure different.
TexasTowelie
(112,453 posts)However, the night time audience does have a different perspective from the afternoon audience. I'm glad that my post sank like a stone.