Temple of Gloom

Back to blog

Economy

10 minutes after he's elected (maybe) the media will start touting the miracle of the Obama turnaround. Using those exact numbers. Go figure.

Steve Ducharme of FL @ Aug 27, 2008 16:56:29 PM

Economy

Its an old meme they've been running on before. In 1992, the Clinton campaign was also claiming that the economy (just recovering from a mild recession) was the worst since the Great Depression.

Given that the economy in 1980, or the 1982 recessions are far worse than anything we've had since, and they were not as bad as the Depression (though the unemployment in 1982 was pretty atrocious)...it makes one wonder about their sense of perspective.

When unemployment is running at what I was taught back in college was "full employment" and inflation is still lower than it was when I was in college I wonder what the complaining is about. (Speaking of the aggregate, rather than the individual, perspective here)

Cal of FL @ Aug 27, 2008 16:54:09 PM

positive thinking

But it doesn't win elections. Remember when the Democrats were accusing Bush of talking down the economy in 2000 ? It worked for George Mitchell who filibustered a capital gains tax cut in 1992 long enough to bring on a recession. That doomed Bush I.

Mike K of CA @ Aug 27, 2008 16:49:47 PM

Economy

You are right on target with these thoughts! Positive thinking and action, with correct thinking and action, are what have always moved mankind forward.

DE Perry of UT @ Aug 27, 2008 14:19:14 PM

Back to blog

Add Your Thoughts
About You
Capital Commerce

Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

advertisement

advertisement

Subscribe

U.S. News Digital Weekly

A weekly insider's guide to politics and policy — in a multimedia, digital format. 52 issues for $19.95!

U.S. News & World Report

6 months of U.S. News & World Report's print edition for only $15. Save up to 67% off the cover price!