In March, 2009, as the stock market continued the once in a generation crash that began during the George W. Bush administration and less than two months after Obama had been in office, former G.W. Bush adviser Michael Boskin penned an op-ed in The Wall Street Journal titled, “Obama’s Radicalism is Killing the Dow.”
Never mind that the economy was still in free fall from the failed G.W. Bush administration, Boskin, who was chair of G.W. Bush’s Council of Economic Advisers, blamed the plummeting financial markets squarely on President Obama and his talk of raising taxes.
Last week the Dow Jones Industrial Average broke through the 18,000 mark for the first time in history. If President Obama is a socialist as those on the rabid right like to claim, then he is certainly the worst socialist ever.
Washington Post Political Analyst E.J. Dionne Jr. quipped in his December 28, 2014 Opinion piece:
It’s odd that so many continue to see Obama as a radical and a socialist even as the Dow hits record levels and the wealthy continue to do very nicely. If he is a socialist, he is surely the most incompetent practitioner in the history of Marxism.
If Obama was in fact a socialist as so many conservatives like to claim, then the bulk of the financial gains during the last six years of economic recovery would have gone to the middle class and low wage earners rather than into the pockets of the already wealthy 1 percent.
The cognitive dissonance from the far right is truly remarkable.
When the stock market clearly began its precipitous crash during the waning days of the G.W. Bush Administration they blamed Obama. When the financial markets are soaring and breaking new highs, the right ignores it and focuses instead on “The War on Christmas” or some other contrived triviality.
When gasoline prices were rising it was all Obama’s fault. Now that gasoline prices are the lowest they’ve been since 2009 the right-wing pundits predictably back-peddle and correctly state that politicians have little to do with prices at the pump and instead focus on how low gas prices are actually bad for the economy. Guess who they blame for that?
In his December 28th op-ed, “The Obama Recovery”, economist Paul Krugman writes:
What’s the important lesson from this late Obama bounce? Mainly, I’d suggest, that everything you’ve heard about President Obama’s economic policies is wrong.
The facts are clear and the numbers don’t lie. The economy is improving rapidly. Low gasoline prices are good for American consumers and bad for an increasingly aggressive Russia. The stock market continues to reach new highs. Private sector job growth is higher now than at the equivalent time in the G.W. Bush Administration and government employment is down.
President Obama has been so successful at recovering the economic disaster that he inherited from G.W. Bush that even the conservative magazine Forbes ran an article titled, “Obama Outperforms Reagan On Jobs, Growth And Investing.”
So it’s official. President Obama is the worst socialist ever!
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