06-06-2015, 05:58 PM
(06-06-2015, 04:09 PM)RICHMONDBENGAL_07 Wrote: When I saw the title for this thread, I thought for sure this was a St. Lucie thread.
The recession was technically over by June 2009, so Obama had little to do with much of it (although his fingerprints were all over robbing the equity and debt holders of GM and Chrysler to give to the UAW).
The recession was triggered by a financial crisis, and that was largely stabilized with TARP and the auto bailouts before Obama took office. The other key piece was unprecedented monetary stimulus, also mostly implemented before Obama took office. Obama may have signed some of it, may have had input of varying degrees, but the heavy lifting was largely done by the Bush administration and Bernanke.
Everything was pretty much stabilized and set to bottom before Obama took office. And Washington pretty much knew it, which was why Obama and the Dems went right to work focusing on ACA.
Saying Obama averted anything is mostly a deflection from his historically anemic economic growth/recovery, despite coming off a pretty huge trough.
