Politics abound as the Presidential Election of 2012 beckons, with the Republican Party claiming that the floundering recovery is due to Barack Obama, which is the furthest thing from the truth!
This economic disaster, which is called the Great Recession and is supposedly over, is really the second Great Depression and is far from over, and it would be no different if John McCain had been in the White House, and in fact, probably would be worse!
Economists almost unanimously agree that the Economic Stimulus legislation pushed through by the Obama Administration in 2009 saved the country from a worse situation, and a clear second Great Depression!
And now the end of stimulus funds, and the mad dash to cut spending, most economists agree, will cause a double dip recession, which will effectively bring about what everyone fears–a second Great Depression, which will drag on into at least 2019-2020!
So it means even if the GOP wins the Presidency this time or in 2016, we are not going to be returning to pre–2008 economic figures and unemployment levels for effectively an entire decade!
Economists are saying this economic recovery will be one of the longest, and most difficult in American history, and remind us of the Great Depression from 1929-1939, only ultimately resolved by World War II spending!
This severe recession, if you want to call it that, is worse because of the housing collapse, the taxation policy, and the lack of regulation of banks and corporations, all due to the terrible policies of the Bush Administration over eight years, and we are going to pay the price for the greed and selfishness of the Congress and the White House for a long, long time!
The social disruption that is likely as people realize there is no quick fix , but that the Republicans have learned nothing from their blunders and short sightedness in the first decade of the 21st century, is scary to accept as likely!
Instead of uniting to revive the economy and cut social suffering, they would rather just protect the rich and the corporations and preach religion as the answer, which is most certainly NOT the answer to our plight!