Obamanonics vs. Reaganomics: One a Complete Failure, the Other a Resounding Success … “It was the best of times, it was the worst of times”
Call it a Tale of Two Presidencies, Obamanonics vs. Reaganomics.
You make the call which is which, it should not be too difficult to determine Obama from Reagan. Democrats and the MSM like to call Obama “Reaganesque;” however, any common sense thinking person knows Obama is “Carteresque”. The talking points of the LEFT is that Obama inherited a bad economy and they have constantly used that as an excuse. Flashback to Ronald Reagan, who inherited a worse economy from Jimmy Carter and turned it around. No one heard excused from President Reagan, they got results instead.
Ronald Reagan, Barack Obama – the two should never be mentioned in the same sentence
“It was the best of times [Reagan], it was the worst of times [Obama], it was the age of wisdom [Reagan], it was the age of foolishness [Obama], it was the epoch of belief [Reagan], it was the epoch of incredulity [Obama], it was the season of Light [Reagan], it was the season of Darkness [Obama], it was the spring of hope [Reagan], it was the winter of despair [Obama], we had everything before us [Reagan], we had nothing before us [Obama], we were all going direct to Heaven [Reagan], we were all going direct the other way [Obama] …
Democrats like to compare Barack Obama to former President Ronald Reagan, but do they really? Not after reading the Wallstreet Journal’s latest article spelling out the failed accomplishments of Obamanomics and the success of Reaganomics. No honest and thinking person could ever compare the two Presidents, the manner in which they went going about fixing a terrible economy and the results of their policies. The key words here were “honest” and “thinking”. The MSM seems to have amnesia when they compare Obama and Reagan forgetting the fact that “The Great Communicators” policies
The two presidents have a lot in common. Both inherited an American economy in collapse. And both applied daring, expensive remedies. Mr. Reagan passed the biggest tax cut ever, combined with an agenda of deregulation, monetary restraint and spending controls. Mr. Obama, of course, has given us a $1 trillion spending stimulus.
By the end of the summer of Reagan’s third year in office, the economy was soaring. The GDP growth rate was 5% and racing toward 7%, even 8% growth. In 1983 and ’84 output was growing so fast the biggest worry was that the economy would “overheat.” In the summer of 2011 we have an economy limping along at barely 1% growth and by some indications headed toward a “double-dip” recession. By the end of Reagan’s first term, it was Morning in America. Today there is gloomy talk of America in its twilight.
My purpose here is not more Reagan idolatry, but to point out an incontrovertible truth: One program for recovery worked, and the other hasn’t.
Posted August 29, 2011 by Scared Monkeys
Barack Obama, Budget Deficits, Economy, Energy, GDP, Government, Hope and Change, Jobs, Lost in Smallness, Media Bias, Misery Index, Nanny State - Big Government, National Debt, Obamacare, Obamanation, Obamanomics, Out of Control Spending, Ronald Wilson Reagan, Unemployment | 16 comments
Oh Yeah, He’s re-electable …
Once again we are witness to more “Hope & Change” from President Barack Obama … How many voters have buyer’s remorse? Obama and his minions try and compare him to Reagan and Lincoln … SORRY, OBAMA IS CARTERESQUE!
Move over Jimmy Carter … American has Barack Obama, the worst President in modern American history. What more damage can Obama do to America? I am guessing he contemplates that while golfing. The fact of the matter is that confidence in Obama is gone and is in no sign of ever coming back. Obama has done out of his way to implement policies that have failed and continues down the same path of failed polices and agendas. Obama has never been a leader, he was a talker and a campaigner. All of America is finally figuring it out. HAS A COUNTRY EVER HAD MORE BUYER’S REMORSE IN A PRESIDENTIAL ELECTION?
The unemployment rate continues to be over 9% and the underemployment is at 18.1%. Barack Obama is the first US President to reside over an economy that has had a downgrade of its credit rating. Add one more notch to Obama’s belt … consumer confidence has dropped to the lowest level in three decades. Not since the Presidency and “MISERY” of Jimmy Carter has the consumer confidence been so low.
Confidence among U.S. consumers plunged in August to the lowest level since May 1980, adding to concern that weak employment gains and volatility in the stock market will prompt households to retrench.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment slumped to 54.9 from 63.7 the prior month. The gauge was projected to decline to 62, according to the median forecast in a Bloomberg News survey.
The biggest one-week slump in stocks since 2008 and the threat of default on the nation’s debt may have exacerbated consumers’ concerns as unemployment hovers above 9 percent and companies are hesitant to hire. Rising pessimism poses a risk household spending will cool further, hindering a recovery that Federal Reserve policy makers said this week was already advancing “considerably slower” than projected.
According to a recent Gallup poll, only 8% of Americans think that the economy is good or excellent, while 55% believe its poor. It gets worse, or better if you are Barack Obama … 80% believe the US economy is getting worse, only 16% believe its getting better. That 16% either need their heads examined or root for the total destruction of America.
The numbers on the consumer sentiment index fell to 54.9 in early August, down from 63.7 in July, and the index has fallen for three straight months. Gallup has economic confidence at -56. Thanks Barack Obama.
Unemployment at 9.1 percent of the workforce, low wage rises, and the protracted debate in Congress over raising the U.S. government debt ceiling spooked consumers, survey director Richard Curtin said in a statement.
“Never before in the history of the surveys have so many consumers spontaneously mentioned negative aspects of the government’s role,” Curtin said.
“This was more than the simple recognition that traditional monetary and fiscal policy measures were largely spent. It was the realization that the government was unable or unwilling to act,” Curtin added.
Bad economic times were expected by 75 percent of all consumers in early August, just below the all-time peak of 82 percent in 1980. Buying plans for household durables and vehicles declined in early August, falling back to their recession level lows.
Barack Obama and his policies have crushed the spirit of Americans. According to a recent Rasmussen poll, only 32% say America’s best days are in the future. What inspiration Barack has given us. Is it any wonder why Obama has a -22% Rasmussen Presidential Index and an overall job approval rating of -6.3%.
As the Gateway Pundit states, its Barack Obama’s “MISSION ACCOMPLISHED”. 2012 can not get here fast enough. “We the People” need to take our country and future back in 2012 and throw this clown out of office in resounding and “landslideable” fashion.
Dow Jones Falls Over 500 Points, Biggest Drop Since May 2010 … So Much for the Debt Ceiling Deal to Stabilize the Economy
I think its safe to say that no one has any faith in Barack Obama as a leader … A Total and Epic Failure.
Americans were told by Barack Obama and his minions that increasing the US debt ceiling was paramount to saving the US economy and stabilizing the economy. What say you Mr. President? Not only has the stock markets been down every day since the debt deal was signed by Obama, but yesterday the Dow Jones fell over 500. Thanks Barack. I guess those in DC who voted for this well labeled … sandwich, now see that many Americans hated this compromise. I wonder why? Now PJ Media asked the question … should Obama resign?
A CEO with such a disastrous first three years as our president has had probably would already have been called upon to resign or been pushed out by his company’s board of directors — more than likely for some time.
Obama has failed in virtually every direction, foreign and domestic. His policies indeed are almost non-existent. He is completely rudderless, unless you accept the view that he is following the prescription of Cloward-Piven and has set out to destroy American capitalism from within.
If that is so — and I don’t really accept it for a variety of reasons — he has failed even at that, because his reelection becomes less likely with every passing day. A Cloward-Piven strategy could not be successful in only four years. America is far too strong for that. In the case of Obama, his policies are leading to something quite the opposite — an epic disaster for the Democratic Party and (modern) liberalism in 2012.
What happened when the US markets caved in like an Obama cheap suit, or is it an empty one … the Asian and European markets followed.
The Astute Blogger has three recommendations that could fix the terrible US and global economy. We especially like number 3. It has become obvious that Obama has become Jimmy Carter. The only way the economy in the late 70′s could get better was that Carter had to be replaced as president in the 1980 Presidential election and replaced he was in a landslide by Ronald Reagan.
IF OPEC CUTS THE PRICE OF OIL TO $35
IF CHINA ALLOWS THE PRICE OF THEIR CURRENCY TO GO UP, AND…
IF OBAMA RESIGNS OR ANNOUNCES HE WON’T RUN FOR REELECTION
What does any good leader do when
Rome the United States economy is falling around him, why Obama plays the fiddle of course. Actually he had a birthday barbecue. But before that he ran off to a fundraiser in Chicago. Priorities Mr. President, priorities.
The question really needs to be asked, is Obama in over his head or is this intentional? In either case Barack Obama must go. Do your patriotic duty Mr. President and just resign. It is hard to believe that Obama can be reelected in 2012. If he is, it is the end of America.
Remember this Promise from Obama: If Debt Ceiling Limit Deal Passed … It Would Avert a US Economic Crisis
President Barack Obama and his minions pounded the drum that if the debt ceiling crisis was averted with a deal to raise the debt limit, that it would bring stability to the markets and business.
REALLY MR. PRESIDENT?
August 2 came, D-day for the raising of the debt limit where the sky was supposed to fall, the bill was signed into law to raise the debt limit and guess what … stocks fell 256 points!!! What happened to the stability? Obama claimed that the raising of the deb limit to prevent the elderly from not getting their social security checks would sooth the markets and the economy. Barack Obama was once again wrong on the subject matter. Didn’t Obama tie job creation and the economy to the debt ceiling? The Lonely Conservative asks a similar question … “wasn’t the debt deal supposed to save the economy?”It can’t be a coincidence that the markets plummeted on the day that Obama signed the bill into law under the cloak of darkness as no one wanted to be associated with this “sugar coated Satan sandwich”.
The Dow Jones Industrial Average tumbled 265.87 points, or 2.2%, to 11866.62, on Tuesday. The blue-chip index’s eighth consecutive decline marks its longest losing streak since October 2008. It has lost 6.7% during the skid, dating back to July 22.
Obama and his minions also told us that a bipartisan deal would prevent the US credit rating from falling? WRONG AGAIN BARACK. Credit agency Moody’s presently has outlook for the U.S. grade is now negative. Why? Because the debt ceiling deal did nothing to change the spending habits or really address paying down the debt in any serious manner. It’s not just Moody’s who has an issue and a negative view of the US debt, its all of them. Thanks again Barack Obama.
Moody’s Investors Service and Fitch Ratings affirmed their AAA credit ratings for the U.S. while warning that downgrades were possible if lawmakers fail to enact debt reduction measures and the economy weakens.
The outlook for the U.S. grade is now negative, Moody’s said in a statement yesterday after President Barack Obama signed into law a plan to lift the nation’s borrowing limit and cut spending following months of wrangling between Democratic leaders and Republican lawmakers.
It was said by GOP leaders that the debt deal was the best that they could get since they only controlled the House and Democrats controlled the US Senate and the Presidency. If America is serious about paying down the debt and its future, Obama and the Democrats must be thrown out of office in 2012. It is obvious that Obama’s policies are failures and his agenda is far too LEFT for the United States. It is obvious that Obama was and is the lest qualified individual ever to be President and is the worst ever. The only person in America who is happy today is former “misery index President Jimmy Carter.
The issue is not just the debt increase and out of control spending, its the continued poor jobs creation and no growth in the economy. But wait, Obama has reassured the people that he is back focused on jobs. WHAT A COMFORT.
2012 cannot come fast enough.
More Obamanomics … welcome to
More bleak economic news as a result of Democrat and Obama policies. The GDP for the second quarter of 2011 for the US is, drum roll … 1.3%!!! Wow, thank you Barack Obama. Does that even count as growth? Needless to say the markets are reacting prior to opening and are down. Oh wait, it gets worse, if that is possible. First quarter GDP was sharply revised down to a 0.4% from 1.9%. But wait there’s more, fourth quarter growth from 2010 was revised down to a 2.3% from 3.1%.
Growth in gross domestic product — a measure of all goods and services produced within U.S. borders – rose at a 1.3 percent annual rate, the Commerce Department said. First-quarter output was sharply revised down to a 0.4 percent pace from 1.9 percent.
Economists had expected the economy to expand at a 1.8 percent rate in the second quarter.
In addition, fourth-quarter growth was revised down to a 2.3 percent pace from 3.1 percent, indicating that the economy had already started slowing before the high gasoline prices and supply chain disruptions from Japan hit.
Obama and the Democrats have done everything possible to put Americans into Hoovervilles. This President truly is an OBAMANATION and an EPIC FAILURE!!! Unemployment, debt and GDP, OH MY!!! This president has done nothing but harm the economy, they best thing Obama could do to help the United States is resign. Obama has truly become Jimmy Carter. Just like in 1980, the only way that America was to return around from its “malaise” was for Carter to be voted out of office. Does it really surprise anyone that Obama has a 41% approval to be reelected? Look for that number to go down even further. Which begs the question … Has Obama become “landslidable” in 2012? Look for that future post in the near future.
Brian in a Blue State
Democrats claim that they want to get beyond the Anthony Weiner sexting scandal, but do they really? They claim that their agenda has been hijacked by Weiner and the endless shirtless and weiner pics. However, one might say that was a good thing for Democrats. Did they really want to discuss jobs, the economy, debt reduction and the highest misery index in 28 years?
Weiner may be gone, but the lasting stain on the Democrat party remains. Weinergate is not an isolated occurrence when it comes to the Democrat party and politics. Sure the naked pics of Weiner’s weiner were a bit much, but sooner or later when one makes politics their religion, it’s only a matter of time before the power goes to their head.
Vanderbilt – ’11
“Political expression has obviously declined to
depths formerly unexplored until now. This
particular ‘representative’ is representing
himself in ways rational folks would not. It
might be said that ‘POWER’ has gone to his head!”
From The Hill:
With Rep. Anthony Weiner (D-N.Y.) all but out the door, Democrats have wasted no time trying to shift the conversation back to the economy, healthcare and other issues of greater national consequence.
Party leaders think they have a winning hand in their opposition to GOP proposals to overhaul Medicare, privatize Social Security and slash funding for safety-net programs amid a lingering unemployment crisis.
Democrat policies have failed on the economy as we remain at 9.1% unemployment. Democrats would love their to be distractions of anything than that what the American people face presently. Look for another Weinergate to distract, but this time it will be one where they leave their clothes on.
Who said that Obama was not Presidential? Although, he is hardly Lincolnesque or Reaganesque … more like Carteresque.
Thanks to Barack Obama and his economic policies have provided us with, we are now presented with a “Misery Index” at 28 year high. Hey America, how is that “Hopey, Changey” stuff working out for you?
When it comes to measuring the combination of unemployment and inflation, it doesn’t get much more miserable than this.
In fact, misery, as measured in the unofficial Misery Index that simply totals the unemployment and inflation rates, is at a 28-year high, reflective of how weak the economic recovery has been and how far there is to go.
The index, first compiled during the soaring inflation days of the 1970s by economist Arthur Okun, is registering a nausea-inducing 12.7—9.1 percent for unemployment and 3.6 percent for annualized inflation—a number not seen since 1983. The index has been above 10 since November 2009 and had been under double-digits from June 1993 through May 2008.