Friday, March 13, 2009

Random Thought Of The Day

Scanning the Drudge Report this morning, I ran across these headlines:

Obama: Economic crisis 'not as bad as we think'

U.S. retail sales drop not as bad as feared

Wall Street set to extend gains for 4th session

Now we all know that the mess the economy is in right now is George Bush's fault, all we have to do is turn on the news or listen to an Obama press conference. There is no blame for Congress which the Dems have controlled for the last 2 years, with Obama as a part time member. There is no blame for Bill Clinton who is largely responsible for the ruinous lending policies that led to this downturn. There is certainly no blame for Obama even though a bad Wall Street sell off turned into a nightmare Wall Street sell off the minute he was elected.

It's Bush's fault because we are so close to his presidency.

Let me further be clear in that I believe Bush and the GOP held Congress that was in session before the current Dem Congress do have to take a fair share of blame.

My question though is, if the economy were to all of a sudden begin to make a recovery, who do you think would get the credit?

Now this is only a theoretical exercise because;

One, I do not believe the economy will make a sudden turn around, the ailments of the economy are too complex for a short term fix.

Two, I know who will get the credit and who will not.

Just curious as to what everyone else thinks.


cube said...

Your analysis is spot on. BO will take none of the blame and all of the credit when the economy eventually kicks into gear.

The MSM will see to it that even though the Bush administration tried 11 times to make Congress rein in the problems with Freddie and Frannie, it will be seen as Bush's fault and not Congress.

Larry T. Durham said...

Good ponit on the Democrat control of Congress for the last 2+ years.

And Cube is right: Freddie and Fannie is the cancer that kicked off this giant cluster%@$#.

But that damn Bush...

Tina Hemond said...

One might be under the impression that this "economic" crisis was created in order to oust Bush (and or McCain by extension) - recall way back win (July 08) - when Reid was crying from the ramparts - economy!! - He also made some rash statement regarding an insurance company going bankrupt and well, Wall Street reacted. Seriously, (and I am) - Bush takes some credit for not shouting from the ramparts that the Dems controlling Congress were entangled in the whole Fanny/Freddie fiasco (Barney Frank comes to mind - never mind Bill Clinton - raising restrictions on lending/mortgage started with Carter) - that said, this sudden change of heart may be attributed to a "deer in the headlights" (i.e. not as smart as close companions and the media suppose), fear of becoming unpopular due to bad economic choices (tax, deficit, tax, deficit) made by Obama. Notice, the last few weeks, pundits have been noticing that when Obama talks, the market drops - so, guessing between rescinding this or that Bush bill, he takes the time to read or watch the news (guessing here) - and that he's following suite. The die has been cast, getting excited about a 10% rise in the markets (even if it gets that high) would be idiotic at this point. This is an historical truth - the more it looked as if Obama were going to get elected, the more Wall Street reacted, dropping like a rock (see similar occurrences in Fall 04 (Kerry) and so on and so on - predictable as all get out. Also predictable: run-away inflation and 4 to 6 years to pull ourselves out of this mess - (history again). I would prefer that the economy rebound, we all need a bit of stability - that said, the probability is highly unlikely given the repeated failure rate of the chosen economic model. Chuck my take, Obama is already getting the game, there is buyers remorse galore and Bush, he'll look stellar by comparison.

Always On Watch said...

If -- and, frankly, I don't see that happening for a very long time -- the economy turns around, the present administration will get all the credit; if not, the previous one will get all the blame.

Meanwhile, BHO and this Dem Congress are forging the path to further socialism.

As far as I'm concerned, "hope" and "change" are a long way off for America.

Chuck said...

Cube, flashback to 2000, the Clinton recession was Bush's fault

Larry, love how Obama says this budget was written before he was president, written by congress when he was a member (part-time)

Good post Tina, I think you can make a strong case for the Dems undermining the economy, IMHO they don't acre enough about the country to keep them from undermining it for their political gain. As far as buyer's remorse, I think we are seeing this. On the Bush will look better the longer Obama is in office, I have thought the same thing. Some will never like him, no matter what. But I have wondered if Obama will eventually make Bush look better.

AOW, agreed.

Flavor Country said...

As long as Bush and company is willing to give credit for anything positive in his term.......sure.

So when I here Karl Rove and the rest of the Bush cronies giving any credit to anybody other than themselves, Bush and the republican party, I'll make sure he gets some credit for coming out of the recession.

You know how it works Chuck :)

Everybody takes the credit no one shares the blame.

Even Bush never even admitted that he made a mistake on anything other than the Iraq Intel.

mksviews said...

It's what the left do everywhere, anything bad is the Conservatives fault, anything good, they take credit for.

Obama's earlier, end-is-nigh, words also have an ulterior motive, to scare the populace into accepting more big government before it's too late.

Let's just hope the American people kick this fellow and the democrats when the next elections roll around, that's in 2 years, no?

DaBlade said...

We know Clinton took credit for the Reagan expansion. Recessions like the one we are experiencing are usually in their death throes at this point. Obama would certainly try to take credit for any positive news that happens in spite of him.