Leave it to Democrat politicians to botch the facts about the economy, as Rep. Waxman here.
Unemployment surged to over 10 percent under Obama, not when he took office as Waxman says. When Obama took office in late January 2009 unemployment was 7.6 percent. It climbed to 10.2 percent for the first time in October 2009, nine months after Obama took office.
As for economic depression, Democrats have been saying all along that Obama's policies prevented a depression from occurring. But they didn't prevent one. Plausibly they ended one!
A depression occurred in fact in 2008 and 2009 when GDP declined two years in a row. For a Democrat to say we're in a depression now is insane, given the fact that GDP stills prints positive and has been doing so since 2010, when the depression ended. The growth is pathetic, but it's still growth.
If Democrats had been smart, they'd have admitted it was a depression right away after the 2008 election and really played that up. It could plausibly have been laid at the feet of President George W. Bush. The Keynesian-like stimulus passed in 2009 under Obama could also have been plausibly credited with ending the depression, since GDP rebounded in 2010.
How come Democrats are so stupid?
A depression occurred in fact in 2008 and 2009 when GDP declined two years in a row. For a Democrat to say we're in a depression now is insane, given the fact that GDP stills prints positive and has been doing so since 2010, when the depression ended. The growth is pathetic, but it's still growth.
If Democrats had been smart, they'd have admitted it was a depression right away after the 2008 election and really played that up. It could plausibly have been laid at the feet of President George W. Bush. The Keynesian-like stimulus passed in 2009 under Obama could also have been plausibly credited with ending the depression, since GDP rebounded in 2010.
How come Democrats are so stupid?
