President Obama Rescued the Economy. Period.

Here’s Paul Ryan with some honesty, then a gigantic lie:

“Now, let’s be candid, President Obama clearly inherited a very difficult situation. There are no two ways about that. Problem is, he made things much worse.”

He obviously didn’t make things much worse. Ask anyone who’s invested in the DJIA, which has doubled since he took office. And take a look at the GDP and job creation via Steve Benen.

While I’m here, I’ve heard more liberals lately suggesting that President Obama hasn’t lived up to expectations. You know what? Bullshit. His policies rescued the economy from another — and potentially deeper — Great Depression. Full stop. I don’t care if he did nothing else — and he’s done quite a bit on top of that. If it hadn’t been for the president’s economic agenda in the first six months of his presidency, it’s very likely we’d be in a world of economic shit right now.

Say what you will about drones or whatever. It’s only because of the stimulus legislation and other actions passed by the president and the congressional Democrats that we’re not living in shanty towns right now.

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  • missliberties

    Required reading for all liberals.

    The American Recovery Act is in fact an amazing piece of legislation. And the author of this book kicks ass.

    Michael Grunwald is funny and well versed on exactly how excellent the Stimulus was.

    http://www.amazon.com/New-Deal-Hidden-Story-Change/dp/1451642326/ref=sr_1_1?s=books&ie=UTF8&qid=1345395646&sr=1-1&keywords=new+new+deal

    This book is required reading for the chronic liberal complainers who insist “Obama didn’t do enough”. Actually he did tons. He just didn’t talk about it, because of a certain GOP mindset that insisted that whatever he said they were against.

    • http://drangedinaz.wordpress.com/ IrishGrrrl

      I think once economists and historians get some distance from the age of partisanship the President’s economic policy will be fully vindicated.

      In re the Ryan statement….such a common tecnique for a practiced liar. Tell a truth that costs you nothing as humbly as you can and then follow it with a big, blatant lie. They use it because it works.

      • missliberties

        What is somewhat annoying to me, is that as one who was screaming on the site that I got kicked out of, the dK, place that Obama was doing a good job, while all the liberals were having the vapors about the public option debate, is how liberals ignored this also. Really really annoying.

        The stimulus when you look at where the spending priorities were going in fact is a future looking project, updating wind energy, the grid, all kinds of good stuff that liberals completely ignored.

        The book I cited is an awesome read. And Joe Biden deserves major kukos for managing the whole stimulus so excellently.

  • http://twitter.com/KQuark KQµårk™

    Pundits are such idiots about this fact including your HP buddy Howard Fineman. If the US had instituted austerity policies like the GOP wanted to and Europe did we would be in a double dip recession right now. AND THAT IS AFTER THE STIMULUS. If the stimulus never happened, Obama did not save the auto industry and the Fed did not act aggressively in 2009 we would literally be living in shanty towns right now. Not to mention if the GOP did not obstruct and cut government jobs unemployment would be well below 7% by now.

  • http://twitter.com/KQuark KQµårk™

    Worse what Ryan said is utterly factually wrong. When Obama entered office we were losing over 600K jobs every month for the first six months. Now Obama has increase jobs for every month for three years. How is that remotely worse?

  • SlapFat

    This is the long and short of it:

    1. Voters elected Obama. He enacted measures that revived the economy with his stimulus/jobs legislation.

    2. Voters gave control of the House of Representatives back to Republicans after only giving Obama half a term to get it right.

    3. Everything in Congress became constipated.

    ***

    No more false equivalence. Americans, voters and non-voters alike, stalled the recovery of their own economy by giving Republicans a majority in the lower chamber of Congress.

    If any politician were to tell the public that they would be lambasted, mocked, and voted out of office for “insulting the American people” or some garbage like that.

    There’s an empirical reality out there. It’s unfortunate that many people are still not interested in it.

    • missliberties

      Particularly the media. I also am truly annoyed with some liberals who continued their cynical attacks on the Prez in 09 and 10, leading up to the tea party take over.

      • SlapFat

        I’d concur with your remark regarding the media. However, I’d also emphasize what I was saying about this being the result of voters and non-voters failure to focus on how elections work.

        Old people vote. Young (and eligible) people do not. Until that changes we are still in alot of trouble.

        I’m listening to so much of my generation whine that they want the type of government that’s found in western Europe. Yet they refuse to take any action to make that happen. You have to go beyond Occupy-style protesting and self-pity. You have to make a decision, and that involves becoming a voter and going to the polls.

        This ain’t rocket science. It never has been. It sounds like you and I are really in agreement about this, missliberties.

        • missliberties

          Agreed. I also would add that instead of constantly criticizing the positions of the GOP, (which we know are literally insane) we need to offer a positive message and a vision that incorporates why the government spending money on safety nets is moral, it also creates a safe and stable society where private business can thrive.

          It aint rocket science to figure out that having access to a nursing home, or home care, or unemployment is a plus for our society.

          If you get kicked off the job, and in constant fear that you literally won’t have enough money to survive, and get stuck in a cycle of desperation, we see that having unemployment insurance, social security disability that gives you some money to live on if you need to recover from an accident, put our countries people in a more secure position and they will have the confidence to participate in the markets instead of falling off the rails.

    • eljefejeff

      “Americans, voters and non-voters alike, stalled the recovery of their own economy by giving Republicans a majority in the lower chamber of Congress. ”

      I’ll go a step further…really, American voters stalled the recovery by giving Republicans more than 40 senators. Hell even for the short 6 month period when Democrats had 59 senators plus LIEberman, we still rarely had a supermajority needed for any meaningful legislation. So that we don’t have to count on the blue dogs, we really need like 70 Democrats in the Senate to get anything done.

  • joseph2004

    Obama’s stimulus package was based on one thing: His economic team (having long since disappeared) based its assurances the stimulus would “work” on recession history – that recessions last 12 – 18 months or so (“hope”), and by the time late 2010 rolled around, odds were the economy would be on an obvious road to recovery (“change”). Obama would look like a hero and be off to an easy re-election in 2012.
    It would have been nice if justification for the stimulus rested on sound facts and economic theory, but it did not. Obama has admitted many times since that he and his now defunct economic team didn’t understand what was going on. Shovel-ready projects, too, were a mirage he perpetuated ( “talked a lot about”) and later admitted they did not exist at a level he claimed earlier.
    In the time since, unemployment has never dipped below 8%. Lately it’s ticked up.

    So yeah, maybe it “added or saved” a few jobs here and there, but by Obama’s own measure of what stimulus success should have added up to – “recovery” – the stimulus was a failure.

    • http://www.facebook.com/profile.php?id=682075856 Donna J. Edmond

      Bob,
      You get trolls on your site too? Congrats! That means you have really made it!

      • Victor_the_Crab

        Trolls come and go here. But joeydouche is a special kind that drops by once in a while spewing his verbal diahhrea, then gets smacked around by us regulars until he crawls back under his bridge for awhile.

        • D_C_Wilson

          Isn’t it time we stopped giving a shit what he thinks?

    • mrbrink

      Nuclear meltdown of the global financial system is more like it. You waaay undersold it. You have no idea how to respond to what we were facing or what would work and what would not. Stop lying.

      “This Project Was Funded By American Recovery and Reinvestment Act.” You might have seen the signs reminding you idiots that your new or improved infrastructure created jobs and demand. You probably cursed them as some sort of communist plot.

      The last two recessions seen steady increases in the public workforce, the Great recession has had to apologize for suspiciously steep declines. Those jobs would see unemployment well below the 8% you keep using as some sort of dishonest ‘told you so’ that isn’t so much economic recovery analysis, but a confession of economic sabotage.

      You’re pretty much an accomplice to a criminal conspiracy to defraud the country at this point.

      • Brutlyhonest

        Well stated, as usual.

        Funny how they don’t want bushCo blamed for anything except getting bin laden and the recovery.

        On a strange note, ‘ol joe came out of the woodwork for something besides race!

    • Lazarus Durden

      Joey! You’re back! Which right wing talking point site did you pull up this cut and paste post from?

    • Lazarus Durden

      Also for all that completely and utterly non-factual crap you just posted.

      http://www.youtube.com/watch?v=tex0xigRgdo