Obama White House Economist Blames Weak Economy on Clinton and Reagan
Top Obama economic adviser Alan Krueger today on CNBC:
I think the American people understand that the problems that the economy is facing built up over a period of decades. It’s going to take some time to address them. but it’s also the case that we’re on a better path now than we had been.
This line echoes what President Obama has been saying, that America’s generational turn toward pro-market policies — deregulation, lower marginal tax rates — led to what is now the Long Recession. Here is Obama late last year in Osawatomie, Kanas:
There is a certain crowd in Washington who, for the last few decades, have said, let’s respond to this economic challenge with the same old tune. “The market will take care of everything,” they tell us. If we just cut more regulations and cut more taxes—especially for the wealthy—our economy will grow stronger. … But here’s the problem: It doesn’t work. It has never worked.
Both Krueger — especially Krueger — and Obama should know better. America’s turn away from statism in the late 1970s, 1980s and 1990s reversed what many in the 1970s thought was an irreversible economic decline. There’s a reason America isn’t Italy or France. By the way, from 1983-2007, the U.S. economy grew by 3.3% a year, adding 46 million jobs.
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Comments:
Jun '10
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
The economic ripples of the civil war 150 years ago continue to devastate the American economy.
Apr '11
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
He really believes this, doesn't he?
Aug '11
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
James Pethokoukis:
By the way, from 1983–2007, the U.S. economy grew by 3.3% a year, adding 46 million jobs.
There's a reason I'm trying to build a time machine to take me back to 1982. Twenty-five straight years of awesome.
Aug '10
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
billy
He really believes this, doesn't he? · 28 minutes ago
I'm not sure he does. But he does believe it's OK to say anything, including a bald-faced lie, in order to promote the Left's core philosophy that an elite governing few knows what is best for the unwashed masses. And this particular lie fits that requirement nicely.
Jan '11
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
billy
He really believes this, doesn't he? · 42 minutes ago
Yes he does, as well as many members of the Democrat party. It should scare the hell out of all of us.
Jul '10
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
And thus you see why Obama's economic hasn't been able to get the economy going in four years. They must be giving out Econ degrees with Happy Meals these days.
Dec '10
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
Kruerger should absolutely know better, today's economic decline is precisely 96.4% the fault of Attila the Hun.
Mar '12
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
Attila? I thought it was Millard Fillmore. Thanks for the update. dt
Mar '12
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
I thought Obama's people needed to take off their shoes to count more than 10. Get enough of them with their shoes off and the liberal press will go for the toe jam. I wonder if that will screw up the count.
Jul '11
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
Here's my new economic litmus test for any new president:
"Make a chart in Excel. It can literally be about anything you want."
If they fail at this, no way we give them the keys to the economy. In fact, we hide the keys to the economy from them. Why? Because they're stupid, and have never had to actual crunch some real data before. I don't want people who can't handle math and basic economic ideas driving the bus. Our bus.
Oct '10
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
Amazing how the pathologies of the free market only show themselves when the statists are running things. It is true that today's problems are the fault of Ronald Reagan and Abraham Lincoln. Sadly Warren G. Hardings faults only showed up when FDR became president.
As for GW Bush, well, statist's suffer from the free market, whether Democrate or Republicans.
Sep '10
Re: Obama White House Economist Blames Weak Economy on Clinton and Reagan
I did not hear Krueger blame either Clinton or Reagan but simply make the point that the debt crisis which we are in the middle of took decades to build up. I would disagree with his observation that we are on a better path now, but after all he is a White house spokesman delivering the standard talking points.
Do you really think we are not in a debt crisis? Or that the debt crisis has not been building for decades?
Or are you just one more journalist concerned more with appearing to be clever than making a point?
I think Obama has made all the wrong decisions, but it is journalists like you who make it easy for them to make it appear otherwise.