much greater loss of jobs which occurred then. Obama managed to avert the worst effects of this crash with the Bailout/Rescue package passed within 24 days of taking office. What was George W. doing through 2008 to avert that crash, the first signs of which were apparent in 2007?
According to the Congressional Budget Office, a non-partisan institution, the Wall Street Bailout and Rescue of GM and Chrysler saved 6 million jobs which would otherwise have been lost. Obama had help from only 3 Republicans in that effort. What's more, the Government has been repaid by the Wall Street firms and the Auto Industry.
And how long did Roosevelt's admittedly more restricted efforts to prime the economic pump take to have an effect?
There is no certainty that things would have changed much without the huge infusion of money and jobs from Britain, France, Belgium, and other countries first at threat from Nazi Germany, and when embroiled in the Second World War. Lockheed, Douglas, and Martin benefitted (sic) from large orders, and shell manufacturers in Canada and the United States sold ammunition like crazy. That and the very laggard American re-armament effort were what got the Economy going again. I had an Economics Prof who in very tongue in cheek fashion called Hitler, The Great Redeemer, because without WW2 the US might never have gotten out of the Depression.
And don't forget that the P-51 was designed for the British because no American aircraft in 1940 was up to German or British standards of performance. (Though the British, not knowing the brilliance of North American Aviation's designers, had asked them to license build P-40's.) The one a/c which did survive in the European Theatre, the P-38 had to be re-engineered when it was found to be vulnerable in combat. The introduction of a setting called Combat Flaps improved the turning radius to the survival point.
You can hardly blame Obama for a crisis due to Republican Deregulation of financial affairs from 1980 on.
How can you hand the country over to a guy afraid to make his tax returns public. What's he hiding? what's he afraid of? and why would you trust him? Talk about buying a pig in a poke.
According to Pew Research Center.
Is it any wonder?
1- 43 months of 8+% unemployment.
2- Only 96,000 jobs created in August ( 146,000 +/- needed to keep up with population growth - 190,000 + for beginnings of a healthy economy.)
3- 360,000 +/- dropped out of the workforce.
It's time to "let him go."