When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Thursday, September 6, 2012

Robert J. Samuelson: Grading Obama

Samuelson (Washington Post) grades Obama "C- or D" (poor) for all of his term excepting the "first six months"--

Robert J. Samuelson: Grading Obama’s economics - The Washington Post: " . . . For the first six months, I’d award him (Obama) an A-; for the rest, a C- or D. . . . The recovery is subpar. After the economy hit bottom in mid-2009, it has grown at a feeble 2.2 percent annual rate. By contrast, growth in the nine other recoveries since 1950 has averaged 4.2 percent for their first three years. During the slump, the economy lost 8.8 million jobs. Only 4 million, less than 50 percent, have returned. The grim job figures explain “why a great many people don’t believe there’s a recovery,” says economist Nariman Behravesh of IHS. Obama can’t escape some responsibility for this dismal performance. His mistake was assuming he could pursue his political agenda without compromising the recovery. Passing the Affordable Care Act (a.k.a. Obamacare) weakened the economy. For starters, the complex law discourages job creation by forcing some firms to provide health insurance or pay a fine. If you make hiring harder and costlier, you will get less of it."


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects