Too much credit |

Too much credit

It’s been my observation over the years that U.S. Presidents get too much credit for the country’s economic condition.

Clinton presided over a wonderful economy where incomes rose at all levels, left office with the first budget surplus in a long time. Great, but he was in office during the dot com bubble which coincided with a rapidly rising stock market. Clinton shouldn’t get much credit.

W entered office and the economy went into recession. No credit; it was the dot com bubble bursting. In 2007, the economy began to fail, then in the last year of W’s presidency, we lost 2.5 million jobs.

W gets some credit but more credit goes to foolishness and greed. He does get credit for deficits – two wars combined with reduced taxes is irresponsible. The mega recession was stopped and we’re growing again. A bit of credit for Obama. Growth is anemic and job growth has been minimal.

I don’t give Obama much credit: Our last “good” economy was based on overdrawn credit, the housing bubble with ridiculous mortgages and Wall Street hustles.

We can’t go back there; where do we get growth and jobs? Who gets credit next time?

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