When I see former President Obama and others lecturing Trump about lying, bragging that no one got charged in the Obama administration, blaming Trump for political and racial division and claiming credit for the booming economy, I long for journalists who will correct the record. Sadly, there aren’t many out there so I will try to do their job.
The first thing that needs to be corrected is when Obama is given credit for bringing us out of the 2008 recession. The truth is that the economy came out in June 2009, 110 days after Obama took office — before any of his policies could have had an effect on the economy. Three main things brought the economy out. 1. TARP where banks and others were loaned money (that they mostly paid back) to shore up their capital base. 2. The Federal Reserve rapidly dropping interest rates and injecting massive amounts of liquidity into the markets. 3. Rapidly dropping oil prices. Obama had little or nothing to do with those policies or actions.
In the summer of 2008, gasoline prices shot up to over $4 per gallon for no justifiable reason. The price rise acted as a massive tax hike on all individuals and businesses. In the fall of 2008, Bush opened up drilling and by the time Obama took office, the price had collapsed to under $2 per gallon, reinvigorating purchasing power. One of the first things Obama did was to again block the drilling, reversing the positive effects.
Obama’s policies actually gave the U.S. the slowest economic recovery in seventy years, despite massive government spending increases, punishingly low interest rates and running up almost $10 Trillion in debt.
Obama even admitted that there weren’t that many shovel ready jobs available, which is what was promised when Obama pushed the stimulus bill. Obama did use the bill to reward political supporters like the owners of Solyndra. Throughout Obama’s term, he and Hillary rewarded supporters with political favors. Of course Democrats, including the media, never cared about this obvious corruption while they go after Trump for people staying at his hotels.
It was clear as soon as Obama took office that he had little regard for following the law. When he bailed out General Motors he violated bankruptcy laws by rewarding his unsecured union supporters over more secured bond holders and other unsecured creditors.
One of Obama’s supposedly huge accomplishments was Obamacare. He and others repeatedly lied to get it passed. Instead of actually lowering prices, allowing people to keep their doctors and plans, and lowering the deficit, it did the opposite. The media willingly pushed and supported the continuous lies.
Another accomplishment was passing the Lily Ledbetter law, which requires equal pay for men and women. There has been a law on the books called theEqual Pay Act, passed in 1963, that requires exactly that.
On June 10, 1963, the Equal Pay Act was signed into law, mandating that men and women receive the same pay for the same work.
My guess is Obama and the Democrats passed that law for symbolism to pretend to do something. We don’t need duplicate laws. It is similar to Obama and a significant number of Democrats voting for a border fence in 2006 while they were seeking to take control of Congress. It doesn’t appear that they were ever serious about funding it.
Obama and others brag about continuous job growth during his term, which is certainly true if you look at seasonally adjusted numbers. But if you want to see good growth after a deep recession, go back to Reagan’s numbers from 1982 all the way up to 2000, when the labor force was much smaller. When Reagan took office there were 90.9 million working, and at the end of 1988 there were 108.8 million: up almost 18 million or 20%. At the end of 2008 when Obama took office there were 134.8 million jobs and at the end of his term there were 145.8 million jobs, or up 11 million jobs or less than 9%. Tax cuts obviously work better.
In 2018, wages are rising faster than any time since 2007, and the economy looks like it will grow faster than 3% for the whole year for the first time since 2005. That last growth came after Bush’s across-the-board tax cuts in 2003. It is a shame that Democrats refuse to learn from history and instead want to go back to policies that gave us the slowest economic recovery in seventy years.
Part time jobs are also down around 1 million since Trump took office and unemployment for all sexes, races and education levels are near record lows. Consumer and business confidence levels are also much higher than any time during Obama.
So why is the media cheering for the policies that gave us slow economic growth and doing their best to hide the good statistics?
During Obama’s eight years, he weaponized the IRS and Justice Department to go after political opponents and protect those who surrounded him and supported him, no matter what laws they violated.
Obama is clearly delusional and divorced from reality when he lectures others about Trump lying when he lied about so many major things throughout his term. Those lies include, but a not limited to Iran, Obamacare, Benghazi, Hillary’s Emails, Fast and Furious and spying.
What do you call it when Obama takes credit for the current fast growing economy other than a bald faced lie?
During Obama’s eight years, he repeatedly ginned up racial hate and derision towards cops. The best example was Ferguson, Missouri, where so many, especially journalists, pushed the fictional “hands up, don’t shoot” narrative”. How much violence and shootings of law enforcement have occurred because of the fictional narrative?
If anyone wants to know what Democrats, including journalists and Hollywood, think of blacks wanting to move up the economic ladder they should just look at the lack of coverage of young black men at the White House last week. They need to keep blacks dependent on government.
There also has been little coverage of Louis Farrakhan and his consistent hate towards Jews in relationship to the Pittsburgh shooting.
Photo credit: cropped from official White House photo by Pete Souza