Democrats and particularly President Obama have been taking a lot of heat over the stimulus bill. Now, a lot of people that complain about the stimulus so loudly try to attribute the TARP bailout somehow to Obama too. Despite the fact that Obama was not President when the economy crashed and the banks were bailed out suddenly it is all his doing.
You know, President Obama has disappointed me in a few regards. First, backtracking on single-payer and then placing mandates over a public option in the healthcare debate. His policies in Afghanistan also leave much to be desired for the Progressive activist who hopes to quit wasting lives and treasure in that country on a failed policy started by a failed President. However, there are instances in which we must also defend President Obama.
It seems like the one constant that can be depended on in this country anymore in good times or bad is the fact that working folks are working harder and harder and simply are not getting ahead. Even before the Republican recession last year wages have stagnated for decades and the gap between rich and poor has only widened as our middle-class continues to shrink. New numbers show that while incomes across the board have fallen, the recession has once again hit middle and lower class working Americans the hardest.
Although we still have quite a way to go, indicators in the last month or so are showing that our economy is slowly and sluggishly bouncing back. It may take a while longer yet for more ordinary Americans to feel it but the markets have bounced back from the Republican recession of 2008-2009. Today, the news is out that existing home sales have posted their highest gain in two years, since well before Obama took office.
Despite the railings from the Republicans the economy they crashed appears to slowly be easing back to normal. It will probably be a slow arduous process as the damage done the economy by six years of Republican rule reached unprecedented levels. The only real good news on their handling of the economy is that under a change of leadership, almost sure depression has been upgraded to recession. The problems that were created over the last few decades will need time to heal.
