Hardly.
When an economy is in a deflationary spiral, the government must be the demand of last resort. Congress and Obama recognized that fact and turned things around.
Saved us from a second Great Depression.
Chris, you do understand that all economists predicted that the recession would subside in 2009, right?
All that Obama and Congress did was provide kick-backs to unions and added to our national debt.
That and propped things up temporarily to postpone and prolong the inevitable.
NO ONE predicted this recession would subside in 2009....all I heard was it was the "great recession" from all economists that I read.
What you read is irrelevant to the argument.
Official Recession Began In 2007 - News Markets - Portfolio.com
But the main question on everyone's mind now is when will our bust come to an end?
If you look at the yield curve, historically a very reliable indicator of swings in the business cycle, activity should pick up by the end of 2009.
That would mean that the recession will be longer than many professional economists are forecasting. Which shouldn't be a surprise to anyone, considering what a bad job forecasters did with predicting this recession.
Read more: Official Recession Began In 2007 - News Markets - Portfolio.com
So back in 2007 many were predicting the recession would end in 2009, making it among the longest. Yet here we are 2 years later still in the early stages of recovery. And why? Obamanomics is the only answer.