Economic Responsibility

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Are our presidents to blame for the Nation’s economy?

Many would say President George W.  Bush is the one who’s at fault for our weak economy…. I partially agree; when he came into office, our numbers just went up in debt.  The Federal deficit added to the overall debt every year he was in office.  Bush was the start of the recession of 2008 but has President Obama done anything to fix it?  I do believe Obama inherited the bad decisions of the previous President.

In 2008, when President Barack Obama came into office during the recession, he said;

 “I’ve laid out a set of policies that will grow our middle-class and strengthen our economy in the long-term. I’ll reform our tax code so that 95% of workers and their families get a tax cut, and eliminate income taxes for seniors making under $50,000. I’ll bring down the cost of health care for families and businesses by investing in preventative care, new technology, and giving every American the chance to get the same kind of health insurance that members of Congress give themselves.”

Obama raised taxes on the healthcare policy known as ObamaCare, businesses, etc; although that accumulates more money to our nation, it’s easily being spent. For any President they can only promise as much as a Congress will allow.  If the American Congress is divided as it has been or if it is primarily led by the opposite party of the President as it is now then it is hard for any President to keep his promises.  Both President Bush and President Obama have presided over government deficits but President Obama is overseeing a slowdown in deficit spending and an overall growth in the American economy.  Can he take the credit for this progress? Politically yes he can, but realistically we should know that we can’t blame a single person for the growth or recession of the U.S economy.

http://thehill.com/blogs/floor-action/senate/225975-reid-lauds-low-healthcare-cost-increase

http://www.nytimes.com/2008/10/13/us/politics/13obama-text.html?pagewanted=print

http://wallstcheatsheet.com/business/obamas-economic-track-record-is-america-back-on-its-feet.html/?a=viewall

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Economic Responsibility