Last updated on February 9th, 2013 at 12:08 pm
Considering most Republicans would rather the average American completely forget how bad the economy was in 2008, lets give the American people a quick history lesson.
We are going to recap the worst one day drop in the Dow Jones Industrial Average over the last 25 years and let’s see how many happened in 2008 and 2009?
To get more stories like this, subscribe to our newsletter The Daily.
This is the situation President Obama came into: The economy was shedding over three quarters of a million jobs a month when Obama first took the oath of office and 4 million in the first year, before one policy Obama put forward had been fully implemented.
Today, even with the rest of the world struggling in a recession, like China and Europe, America has been healthier for the most part. In the last few months, the economy has been shaky on the international level as I just pointed out. American exports are dropping off because international consumers can’t or won’t purchase our products, but that is beyond the control of President Obama, as much as the Republicans would like to say it is his fault. They just hope you are stupid enough to buy it.
Domestically, we are far better off today than we were when Obama first took office, but there is much more work to do.
Lets take a look at what Ezra Klein at the Washington Post said recently regarding the Economic Policy Institutes’ findings when comparing President Obama’s domestic jobs plan and Romney plan.
“Obama’s plan would create 1.1 million jobs in 2013 and 280,000 jobs in 2014, while Romney’s budget would create 87,000 jobs in 2013 and lose 641,000 jobs in 2014, provided that his plans are deficit-financed, according to a new EPI study.”
“According to EPI, the growth in jobs under Obama’s plan would primarily come from the American Jobs Act, which includes $142 billion in temporary spending, as well as some tax cuts. By contrast, EPI calculates that Romney’s major spending cuts — totaling an estimated $250 billion in net cuts in 2013 and 2014 — would be a drag on growth in the near term. The drag would be bigger if Romney makes his tax reform revenue-neutral, as he’s promised.”
The American Jobs Act is the jobs bill the Republicans do not want to pass, even the Masquerading Moderate Scott Brown was against it.
So we showed you where we were in 2008 and 2009 and where we are going if we stick with President Obama. The answer is simple, Romney and Ryan will just continue the same old regressive economic policies of the last 30 years.
Rather than looking over just the last 4 years, the health of the middle class has been in disarray since the 1960s. Why do we continue to put in power the same old people with the same old tired policies, with the exception of Clinton? We continue to believe that if the corporations and wealthy continue to get tax cuts, and deregulate industries, we will be better off. Sorry, but just one look into the history books of the last 30 years proves it has failed.
Yet, a Romney Ryan Presidency will just continue those failed policies as if for some magic fairy reason, it will work this time.
