You'd think that given all the damage we're enduring due to the complete mismanagement of our federal government these past 8 years that my email box would reamain untouched by Bush-bots. But no, I still get email from folks apparently trying to continue the dialogue, and while I usually delete them, occasionally my better judgement fails and I send off a response. When it's just harmless nonsense like Obama being a Muslim or mindless zaniness about someone praying Jesus finds them a job, I can almost always resist replying, but I had to respond to the latest... and I admit that maybe I overdid it.
The email was a cryptic reference to this CNBC article that basically says that in the grand scheme this current recession is no worse than the 1970's and 1980's and that President Obama has worsened the recovery by referring to the impending "catastrophe" if the the stimulus bill doesn't pass.
OK. Here's my overreaction:
I understand this meme going through the conservative media-- and correct me if I'm off base on this-- that Obama's speech saying that we are close to an impending "catastrophe" are counter-productive and this is just your garden variety rescession and we should all heed Sen Gramm's admonition and stop our "whining."
The problem with this meme is that the only reason Obama was lowered to sensationalism is that the Republicans in the House and Senate decided to play political football with the stimulus package and paint the plan as old school liberal spending. In the interest of getting bipartisan support for the bill, Obama came out with a castigation and emphasized the importance of quick passage, and the Republicans, who BTW lost both houses of Congress and the White House due to the public's repudiation of their insanity, balked and instead made this a political issue. Personally, I think the Democrats should just ignore the lunatic fringe like Shelby and Boehner and pass legislation along party lines, but that's me. These same Republicans had no compulsion about passing war supplemental after war supplemental for an illegal, ill-advised multi-trillion dollar war, but now they have found this weird self-righteous fiscal responsibility in the teeth of a worldwide depression.
Bush in September was quoted as saying , "If the credit isn't loosened up, this sucker could go down." This sucker could go down???!!! Where was the Cato Institute decrying that sensationalism, and why didn't K----y send out a feverish email at that time? My email box was empty save for the requisite missive by my liberal friends who questioned the motives of Messrs Bush and Paulson as they allegedly raided the Treasury for their pals on Wall Street. In September, Paulson got down on one knee to beg Nancy Pelosi not to block the bailout bill. Why? Why did Paulson feel compelled to literally beg the Democrats to do the right thing? The answer is because the Republican Robots in Congress refused to listen to the argument about money markets breaking the buck and the need for urgent immediate action. If we are to believe the sensationalism of Bush and Paulson, then the Democrats single-handedly rescued the money markets in September. Thank you Mr. Boehner, Mr. Shelby and Cato Institute. NOT.
And this is exactly the same reason Obama felt compelled to pedal gloom and doom recently: to try to get the Republicans on board in a bipartisan bill to stimulate the economy. Would they do the right thing? You tell me.
As long as we're sending along references, Shadowstats follows the Unemployment and GDP numbers and figures them the way the BLS numbers were figured in the past before we left out part-time workers and jobseekers out of work for more than a year. Using these numbers, the unemployment is already in double digits and the GDP growth is much worse than the BLS currently reports. So is this recession as bad as others? The answer, according to these metrics, is a resounding "yes." The precipitous fall off in jobs the last three months is particularly worrying, and the worldwide decline in industrial production puts a much dire hue to this recession versus the 1970's and 1980's.
Now we have to endure this drivel that Obama talking down the economy is the "real" problem. Save it, dudes. Quite frankly, I'm in a new paradigm where I refuse to listen to anybody imbecilic to have voted for Bush at all. With experience, I'm sure Obama will learn to do the same in the future. And while I may have some issues with President Obama, let's get real here: the economy is in free fall and the only complaint we can dredge up is that Obama said "catastrophe'? Please.
Consider this email a gift of enlightenment from an unlikely source. And if you think the economy just needs a pep talk, then good luck with that.