I listened to the Republican response to Obama's 2013 budget and I listened to the Democratic response to Obama's 2013 budget. My last post outlined the 2013 tax cuts and tax breaks (in Obama's budget) I support.
I agree with the Republicans on one point. Obama should have mentioned in his budget plan that spending cuts will be implemented after economy recovers and is stable. I think this statement would have bi-partisan support in Congress.
Although the economy is improving, it is still very fragile. I think that the Republican austerity plan that includes massive spending cuts will push our economy back into a deep recession with 900,000 jobs lost in a single month.
We've already experienced 900,000 jobs lost in the month of Jan 2009. I don't know anyone, employed or unemployed who wants to experience that again.
Under Obama's leadership, we made progress from 900,000 jobs lost in Jan 2009 to 250,000 jobs gained in Jan 2012. When we consider the total collapse of the job market, the real estate market and the equities market in 2008, going from 900,000 jobs lost to 250,000 jobs gained is a remarkable achievement. Add to this remarkable achievement, the extraordinary effort to save the major financial institutions and the US auto industry should be credited to both Obama and Bush. The Bush Administration created TARP to salvage our economy and again, given the depth of the 2008 recession, TARP was a remarkable achievement. I'm not talking about the gauranteed loans. I'm talking about TARP.
With regard to the 2008 recession, we cannot separate the efforts of Obama from the efforts of Bush because both Presidents contributed to the economic recovery we've experienced thus far. Bush deserves credit for laying the groundwork for the current recovery and Obama deserves credit for implementing the Bush Emergency Economic Act of 2008.
Likewise, we cannot call Obama the worst Democratic President in history without calling Bush the worst Republican President in history.
No matter who is President in Feb 2013, I wish him the same success in the real estate market.
I agree with the Republicans on one point. Obama should have mentioned in his budget plan that spending cuts will be implemented after economy recovers and is stable. I think this statement would have bi-partisan support in Congress.
Although the economy is improving, it is still very fragile. I think that the Republican austerity plan that includes massive spending cuts will push our economy back into a deep recession with 900,000 jobs lost in a single month.
We've already experienced 900,000 jobs lost in the month of Jan 2009. I don't know anyone, employed or unemployed who wants to experience that again.
Under Obama's leadership, we made progress from 900,000 jobs lost in Jan 2009 to 250,000 jobs gained in Jan 2012. When we consider the total collapse of the job market, the real estate market and the equities market in 2008, going from 900,000 jobs lost to 250,000 jobs gained is a remarkable achievement. Add to this remarkable achievement, the extraordinary effort to save the major financial institutions and the US auto industry should be credited to both Obama and Bush. The Bush Administration created TARP to salvage our economy and again, given the depth of the 2008 recession, TARP was a remarkable achievement. I'm not talking about the gauranteed loans. I'm talking about TARP.
With regard to the 2008 recession, we cannot separate the efforts of Obama from the efforts of Bush because both Presidents contributed to the economic recovery we've experienced thus far. Bush deserves credit for laying the groundwork for the current recovery and Obama deserves credit for implementing the Bush Emergency Economic Act of 2008.
Likewise, we cannot call Obama the worst Democratic President in history without calling Bush the worst Republican President in history.
No matter who is President in Feb 2013, I wish him the same success in the real estate market.
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