The Republican Lies About The Obama Economic Record!

The Republican Presidential debate in New Hampshire last night demonstrated the GOP ability to lie and deceive gullible voters!

You would think that Barack Obama walked into the Presidency in good economic times, and that George W. Bush left him a positive legacy!

Of course, George W. Bush left the worst economy to his successor of any President since Herbert Hoover left the Great Depression to Franklin D. Roosevelt!

The facts are as follows:

1. The economy has come out of the depths it was in in 2009, although the level of economic growth has slowed up in recent months.
2. Over 2 million private sector jobs have been added in the past 15 months, not enough certainly, but compared to the 750,000 jobs a month being lost at the end of the Bush Presidency and the early months of the Obama Presidency, it is certainly a good sign.
3. The stock market has improved, whereby half of the lost household wealth has been regained.
4. The auto industry has revived from its low point, when we almost lost the entire domestic auto market, which would have led to far worse conditions in the Midwest and South, where most of the auto factories are located.
5. Housing is the big area of lack of improvement, with home prices and home construction still declining. Of course, the nation’s leading banks are major culprits in this regard, refusing to give mortgage loans and trying to foreclose illegally on many properties!

The point is that there is no magic potion by government and the private sector to restore the economy quickly, and the Republicans have come up with no strategy or plan to create jobs or revive the economy, deciding that just attacking President Obama is enough.

And cutting taxes and spending is just the old Herbert Hoover concept, which only made the Great Depression worse!

Do we really want to go back to Herbert Hoover, as Tim Pawlenty proposes, and to believe that miraculously there will be five percent growth annually for the next decade?

It is time to put up or shut up, meaning that the GOP leadership in Congress must stop talking and attacking, and start producing results in cooperation with President Obama, instead of just working to undermine him and making the economy worse!