Excuse me, unemployment was 7.6 % in January of 2009 (when Obama took office). Today it is 9.1 %. So the unemployment rate is higher than when Bush left office. The rate of inflation is also higher than when Bush left office. 25 % of all homes with a mortgage are in the process of foreclosure with another 25 % underwater. So half of all the mortgages in the country are in danger.
No president (other than FDR) has been reelected with unemployment over 8 %.
Obama still has to worry about a terrorist attack occurring on his watch. His Usama bump was very small and lasted about two weeks. It is gone and the majority of people polled indicate that Bush and our military deserve some of the credit. Obama has lost his luster and novelty.
Originally Posted by JD Barleycorn
Turn off Rush and Hannity- you guys are WRONG- go to any economic site- when Obama got elected the UE rate was spiraling upwards- it didn't reach it's potential- in other words the fire had already started and economist were estimating that the UE rate would peak to anywhere between 15 to 20%- hence the reason why Obama did the bailouts and the stimulus.
Are you guys telling me that when Bush left office that the UE rate was at his peak and then when Obama got in his policies raised it higher???? Are you freaking kidding me??? If Obama didn't do the bailout and the stimulus the UE rate easily would have hit the roof at around 20 to 25% and we would have been in a DEPRESSION! Why is no one seeing the other side- Obama could have fucked up and easily had us in a Depression. If any of you guys think that {choose any candidate you want} would have got elected in 2008 and our unemployment rate would today be at 4%- call me because I got some great ocean front property to sell you. This recession is worldwide- it's not going to be fixed in 1 day or even one Presidential term. Did Reagan fix everything in his first term from the mess he inherited from Carter? Hell No!
If I was a CEO of ACME corporation and due to my bad decision the company tanked and while I was CEO things were going horrible where 20% of the workers had to get laid off- now if one of you guys took over and let's say another 10%(30% total) got laid off the day one of you guys took over which was trickled over from my term as CEO. Would it be fair to say that although ACME now has laid off 30% of employees that the 30% lay off is all on the new CEO????
Honestly how much of the UE rate can be attributed to Bush versus Obama? I assure of the 9.1 % that are UE 90% of them are directly the results of George Bush's term- you can't even debate the issue. Obama did not cause this mess- the only way he's not a lock for 2012 is if the UE rate rises significantly over the next year. There's not one sensible economist who can honestly say the 9.1% UE rate is directly the result of Obama's administration.
