Monday, February 16, 2009

Obama's Fearmongering is way out of hand

As we've complained here Obama is manipulating figures and exaggerating reality to gain the upper hand on ramming his trillion dollar Democrat wish list down the throats of American taxpayers. If you're a Democrat maybe that makes you smugly happy. It shouldn't. It's all a big lie. Recessions like the 1981-82 recession work themselves out with a minimum of government intervention and no resulting staggering debt.

Let's get the facts straight!

via the Wall Street Journal

This fearmongering may be good politics, but it is bad history and bad economics. It is bad history because our current economic woes don't come close to those of the 1930s. At worst, a comparison to the 1981-82 recession might be appropriate. Consider the job losses that Mr. Obama always cites. In the last
year, the U.S. economy shed 3.4 million jobs. That's a grim statistic for sure, but represents just 2.2% of the labor force. From November 1981 to October 1982, 2.4 million jobs were lost -- fewer in number than today, but the labor force
was smaller. So 1981-82 job losses totaled 2.2% of the labor force, the same as now. Job losses in the Great Depression were of an entirely different magnitude. In 1930, the economy shed 4.8% of the labor force. In 1931, 6.5%. And then in 1932, another 7.1%. Jobs were being lost at double or triple the rate of 2008-09 or 1981-82.

Read the whole thing.

The natural progression of economics would have gotten us out of this recession as it has 5 times since the 1930s anyway without this staggering debt package and a huge Democrat wish list that never got the full debate treatment that it deserves. Very clever, but it has no resemblance to democracy.

The media of course bought it hook, line and sinker.

And they haven't pointed out that it's worse EVERYWHERE than here.

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