reply to post by TortoiseKweek
Well, let's see, shall we:
- When Bush left office, the economy was close to collapse thanks to his deregulation. A depression was a very real scenario...and although the
bailouts weren't popular, they prevented that. Unemployment would also be a lot higher if he wouldn't have gone through with them. So from an
economic standpoint, we're better off.
- The DJ rose by 30% since he took office. Most of the TARP money will be paid back, or has already been paid back. Given the HUGE amount of money
involved in TARP, it's remarkable that most of it has already been recovered.
- Healthcare: finally the US is using a more modern system used by almost every developed country. Millions of people will benefit from it and will be
able to afford a good health care where before they couldn't. So overall, most people will be off better.
- Equal pay act is a good thing for a lot of people.
- Anti-hate-crimes legislation
- More investments in renewable energies...a crucial step to rid the US from its dependency on oil.
- White House transparency has been greatly improved compared to any other administration before.
- End of the war in Iraq.
- Overall better image of the US abroad. Like it or not, thanks to globalization all the countries are connected, and the loss in image was a real
pain the neck for the US.
Now he also failed in some respects, most notably in making the financial reform tough enough for Wall Street to ensure this whole mess won't repeat
itself. Wall Street is laughing its ass off. But if you check out who blocked the necessary reforms which would have achieved that, you'll notice a
"trend"...guess which party blocked those reforms!!
I'm NOT saying everything Obama's done was perfect or good...but compared to Bush, who drove the economy off a cliff with 8 years of deregulation,
started 2 highly unpopular wars for the wrong reasons, and who turned a 127bn surplus into a 1.2tr deficit, he's doing pretty well I'd say.
My biggest gripe is that he wasn't tough enough on Wall Street. The bailouts would have been so much more effective in the long term if they had been
accompanied by tougher regulation to prevent a mess like this in the future. But you can't just blame Obama for this since almost every single GOP
member voted against tougher regulation. You can thank them next time a crisis like this happens.
Also, to those saying "the spending has to stop", gimme a break. Go have a look at the real figures and you'll realize that for the last few
presidencies, the GOP was the one making it rain compared to the Democrats. Of course Beck won't tell you that, because it doesn't fit his view of
the world...but figures don't lie!
And let's not forget who started the bailouts in the first place
[edit on 1-9-2010 by MrXYZ]