Saturday, January 23, 2010

It only took me a month

There have been many assessments of Obama's first year--the left claiming his victories, and the right claiming his failures, or even victories if like me they thought the downward spiral was intentional. But at the end of February 2009, I provided a first month evaluation. If he'd been like other state and federal employees, he wouldn't have made it beyond the probation period. I was 100% on target.
    I think the federal government--whether Bush with the Democratic Congress or Obama with the Democratic congress--needed to back off in 2008 and 2009 and let those companies in debt, banks and insurance companies included, struggle and die or merge and be bought out. President Bush failed his party and became President Hoover overnight--but he really stopped governing in October and turned everything over to Treasury and the incoming Obama administration. Hoover had 3 years of throwing money at the problem 1929-1932, Bush didn't. Then FDR continued socializing industries and the courts for another 12 years, until WWII pulled us out of it. Hoover is blamed and Roosevelt acclaimed. Baffles me. Allowing the economy to come back on its own is what happened in 1999-2000 during the last bear market. Jump starting it with tax cuts for tax payers, not tax takers, is what got it going again after 9/11.

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