Is it Obama's Economy yet?

[The Vorlon]

For the record, I would vote 70% Bush, 30% Obama.

The Dems have controlled both houses of Congress for 2 and a half years.

~~~~~

FYI - the 70/30 split refers to the blame perople assign to the two... a POLITICAL appraisal.

In reality, (ie the non-political world) the Dems get about 60% of the blame for forcing Fannie Mae to give mortgages to people who everybody knew would never pay them back, and the GOP gets about 40% for not regulating Credit Default Swaps properly...

[Swing low, sweet chariot. Comin' for to carry me home.]

For the record, I would vote 70% Bush, 30% Obama.

The Dems have controlled both houses of Congress for 2 and a half years.

I don't see how Obama has any blame.  Instead, I'd put 50% of the blame on those involved in sub-prime mortgages (including the pols who set the scam up)...and 50% on Bush since the problem imploded on the 8th year of his watch and since his administration took away some of the regulations that would have helped limit the damage.

No one should be able to take out a loan if the monthly payment increases their debt to income ratio to over 40%.

---

But, if Obama keeps using the excuse, "Hey, my brain's born-on-date is 20Jan2009!" then he is simply wasting space.

[Meeker]

It's Clinton's fault.

[Ban my account ffs!]

It's Jimmy Carter's fault.

[Sam Spade]

There's plenty of people to blame.  Most of them deserve 100% of blame.  How many can I name?  And there's new names being added each day.

What I care about is the way the country views it.  At the rate things are going (and it's gonna keep going), it'll be somewhere around that 50-50 threshold probably sometime between October 2009 and March 2010, unless my math is wrong. (and if it's wrong, I'll listen to your regression lines, Mr. Pollster). 

[Beet]

Most of the people who are really "to blame" (and I can name one... Alan Greenspan) are either trying to shinny more money out of the system still, or living comfortably in big mansions in the tropics, or suburban NYC/DC, or Europe, in obscurity, sitting on their millions, and possibly laughing at this very moment you are reading this...

[Sam Spade]

Most of the people who are really "to blame" (and I can name one... Alan Greenspan) are either trying to shinny more money out of the system still, or living comfortably in big mansions in the tropics, or suburban NYC/DC, or Europe, in obscurity, sitting on their millions, and possibly laughing at this very moment you are reading this...

^^^^^^^^^

Or they're still running the system.  You know the people I'm thinking of. 

[Marokai Backbeat]

Mostly Bush's fault, but Obama has made serious errors in how to remedy our problems.

[Purple State]

I'll vote mostly Bush, but it should be read as "mostly Obama's predecessors." I don't think all the blame can be laid on Bush. Of course, barely any of this lays in Obama's hands yet. All he has had the chance to do is right the ship.

[muon2]

There are signs that the public is shifting more of the economy on Obama's shoulders. 538 makes that case to explain the latest Quinnipiac polling numbers in OH. I agree with Nate that the public does not expect a full turn around after 6 months in office, but does expect more encouraging signs than are visible in the economy.

There are two particular facets of Obama's policy that are clearly his and his alone. One is the stimulus, which was touted as a big job producer for the summer construction season. The reality is that it takes a lot of time to wheel those programs out to the nation, but that doesn't change the perception left from the speeches given last winter. The other is the auto bailout, which was preceded by the President's assertions that we had to prevent bankruptcy, yet both GM and Chrysler ended there anyway. This gives the public the impression that Obama owns that part of the economy as well.

[○∙◄☻¥tπ[╪AV┼cVê└]

There are signs that the public is shifting more of the economy on Obama's shoulders. 538 makes that case to explain the latest Quinnipiac polling numbers in OH. I agree with Nate that the public does not expect a full turn around after 6 months in office, but does expect more encouraging signs than are visible in the economy.

There are two particular facets of Obama's policy that are clearly his and his alone. One is the stimulus, which was touted as a big job producer for the summer construction season. The reality is that it takes a lot of time to wheel those programs out to the nation, but that doesn't change the perception left from the speeches given last winter. The other is the auto bailout, which was preceded by the President's assertions that we had to prevent bankruptcy, yet both GM and Chrysler ended there anyway. This gives the public the impression that Obama owns that part of the economy as well.

People were saying that the stimulus was too small and too watered down at the time. Tax cuts don't work as a stimulus. Besides, a lot of the money hasn't been spent yet. Of course we should have focused a bit more on immediately spending stimulus money like the French did. Of course, there was an epic fail on the auto companies. Sad to say, California is apparently not too big to fail.

[Ban my account ffs!]

I do place a good chunk of blame on the bubble loving blab Alan Greenspan.  There are lots of intelligent fools in this world. 

[Lunar]

It's not Obama's economy until it starts recovering, obviously.  Even if it takes a decade.

[Nym90]

The single person more responsible than any other is Ronald Reagan, actually.

[TeePee4Prez]

The single person more responsible than any other is Ronald Reagan, actually.

Add Greenspan.

[Nym90]

The single person more responsible than any other is Ronald Reagan, actually.

Add Greenspan.

And who appointed Greenspan? I rest my case.

But yeah, he's up there, to be sure. Kinda funny now to dig up old articles talking about how he was the smartest person on the planet and such.

[MSG]

Don't forgot to thrown in the genius Phil Gramm. Wasn't he in Regans' cabinet. Without the bill he authored the protection we had in Glass-Steagull would not have been overturned.  Hopefully, people we learn that allowing banks to put the fingers in all the pies doesn't just fail it destroys.  Kent Conrad was a prophet, however, like most prophet was ignored by the masses at the time his advice was most needed.

[○∙◄☻¥tπ[╪AV┼cVê└]

Don't forgot to thrown in the genius Phil Gramm. Wasn't he in Regans' cabinet. Without the bill he authored the protection we had in Glass-Steagull would not have been overturned.  Hopefully, people we learn that allowing banks to put the fingers in all the pies doesn't just fail it destroys.  Kent Conrad was a prophet, however, like most prophet was ignored by the masses at the time his advice was most needed.

He's still ignored. Being right doesn't mean that people start paying attention to you.

[Stampever]

It is Congresses Economy, as they are the ones who have drafted and passed the trillions in wasteful spending over the past three years.

[Grumpier Than Uncle Joe]

The single person more responsible than any other is Ronald Reagan, actually.

It's about 50-50

[Coburn In 2012]

Actually if you read solid economists analysis the current mess was caused by Bill Clintons policies and tax increases. 

It was hurt by two very necessary wars to defend america but Pres Bush couldn't help that.  He really should have not spent money on domestic programs and because it was war time he should have elimanated all welfare spending and stupid democRAT programs.  But his tax cuts were a stroke of genius and really kept us from sinking lower.

Now the economy is obamas mess and he is making it worse every single day by dramatically raising taxes, spending like a drunk monkey on welfare and failed government schools and doing nothing to help the producing/earning classes.

So it's clintons fault and obama's fault but Bush should have been wiser about spending.

[Brittain33]

No; anything that happens prior to Sept. 12 can be ascribed to the previous President. Bad economic news can always be ascribed to the previous President; good economic news is always ascribed to Ronald Reagan.

[minionofmidas]

It's Nixon's, Reagan's and Clinton's. And Gingrich's, of course. It always will be to me.