Saturday, January 17, 2009

Carter, Clinton, Obama - Oh my! Part 1

"Obama: Bush a 'good man' but mistaken"

An article I saw on Brietbart (via Drudge) had two sentences that stuck out to me. Here's the first:
"When he is sworn in on Tuesday, Obama will inherit two foreign wars and the
worst economy since the 1930s Great Depression with the budget deficit forecast
to hit more than a trillion dollars this year."
Why is the 'worst economy since the Great Depression' canard out there like this (I know, it's to pin everything on Bush)? Did everyone forget the Carter Presidency? The stagflation (the inflation rate was 12% in 1980!)? Double-digit unemployment (it was around 10% then, 7% now)? Interest rates at 21 percent (home mortgage rates were at 18% then, 5% now)? And forget the foreign policy front (Iran? 444 days? Defense budget cuts?). I distinctly remember as a child waiting in gas lines with my dad. He wasn't happy. There was this one time when, after waiting in the gas line for about 30 minutes, a guy came out of the garage and put a barrel in front of my dad's car. No more gas. I learned about every curse word I would ever know that day, right then and there (he got laid off in the prior weeks as well). So how is it that on the way back in time the great speed-bump of the Carter era is somehow unseen these days? And that trillion dollar deficit will look small when the 'stimulus' plan gets underway.