"Want a Better Economy? History Says Vote Democrat!"

Delta4Embassy

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Want a Better Economy History Says Vote Democrat - Forbes

"The common viewpoint is that Republicans are good for business, which is good for the economy. Republican policies – and the more Adam Smith, invisible hand, limited regulation, lassaiz faire the better – are expected to create a robust, healthy, growing economy. Meanwhile, the common view of Democrat policies is that they too heavily favor regulation and higher taxes which are economy killers.

Right?

Well, for those who feel this way it may be time to review the last 80 years of economic history, Bob Deitrick and Lew Godlfarb have done it in a great, easy to read book; “Bulls, Bears and the Ballot Box” (available at Amazon.com) Their heavily researched, and footnoted, text brings forth some serious inconsistency between the common viewpoint of America’s dominant parties, and the reality of how America has performed since the start of the Great Depression.

...

* Personal disposable income has grown nearly 6 times more under Democratic presidents
* Gross Domestic Product (GDP) has grown 7 times more under Democratic presidents
* Corporate profits have grown over 16% more per year under Democratic presidents (they actually declined under Republicans by an average of 4.53%/year)
* Average annual compound return on the stock market has been 18 times greater under Democratic presidents (If you invested $100k for 40 years of Republican administrations you had $126k at the end, if you invested $100k for 40 years of Democrat administrations you had $3.9M at the end)
* Republican presidents added 2.5 times more to the national debt than Democratic presidents
* The two times the economy steered into the ditch (Great Depression and Great Recession) were during Republican, laissez faire administrations"

more at link
 

Missouri_Mike

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We've had a dem pres for six years now. We had a dem controlled senate for six years and dem congress for two.

So if dems are so great WTF happened?
 

SwimExpert

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History also says that if you want racially based slavery, you should vote Democrat. But I think people should look at the present day candidates individually for their merits, instead of voting party tickets or the past.
 

Pedro de San Patricio

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No offense, but the Democratic Party is the one I'm least inclined to associate myself with by far. Like, I'd rather deal with the PRC before that. At least the Communist Party is honest about what it is and stands for and will be up front about its willingness to destroy your life if you step out of line. It might be a leftist shithole, but at the very least there's some measure of integrity there, you know?
 

The Rabbi

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Usually what happens is the Dems ride in on GOP success and claim it for themselves. Then they fuck things up, people elect the GOP to fix it, and the GOP gets the blame for Dem failures.

Clinton inherited the results of Reagan's supply side tax cuts, deregulation, and elimination of the Soviet Union. He could cut defense spending and increase domestic spending and still show lower deficits. Clinton raised taxes and cut the military to dangerous levels and emboldened bin Laden by his adventures in, eg. Somalia.
Then Bush took office. He inherited Clinton's recession and the results of Clinton's failed terrorism policy. Bush fixed those things and the country was fine until 2006 when Dems took Congress. They refused to reform Fan/Fred which led to the mortgage meltdown and the recession.
Obama doubled down on stupid, producing the worst recovery in history. The GOP took the House in 2010 and blocked most of Obama's initiatives, creating some stability. Employers began hiring again to some degree.
In 2016 the next president will inherit a bunch of Dem economic problems. He will spend 4-8 years fixing them, only to have the Democrat claim credit.
 
OP
D

Delta4Embassy

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We've had a dem pres for six years now. We had a dem controlled senate for six years and dem congress for two.

So if dems are so great WTF happened?
The DOW hit an all-time high.
 

NoTeaPartyPleez

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We've had a dem pres for six years now. We had a dem controlled senate for six years and dem congress for two.

So if dems are so great WTF happened?
I dunno'! DOW is at 182000 (Bush left it at 7000), unemployment is at 5.7%, gasoline is around $2.00/gal and nobody is coming home from Iraq in coffins anymore. Sucks, don't it?
 

The Rabbi

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We've had a dem pres for six years now. We had a dem controlled senate for six years and dem congress for two.

So if dems are so great WTF happened?
I dunno'! DOW is at 182000 (Bush left it at 7000), unemployment is at 5.7%, gasoline is around $2.00/gal and nobody is coming home from Iraq in coffins anymore. Sucks, don't it?
Cherry pick much?
 

Soggy in NOLA

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The op is a dumbass... that's all you need to know.
 

NoTeaPartyPleez

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We've had a dem pres for six years now. We had a dem controlled senate for six years and dem congress for two.

So if dems are so great WTF happened?
The DOW hit an all-time high.
Only because of Fed money being pumped into it, it's a bubble getting ready to burst..
So it was better when Bush sank it, I see. I remember righties whining about how there was no stock market bump after Obama was elected. Can't have it both ways.
 

Soggy in NOLA

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We've had a dem pres for six years now. We had a dem controlled senate for six years and dem congress for two.

So if dems are so great WTF happened?
I dunno'! DOW is at 182000 (Bush left it at 7000), unemployment is at 5.7%, gasoline is around $2.00/gal and nobody is coming home from Iraq in coffins anymore. Sucks, don't it?
Actually the Dem's CRA and it's aftermath left it at 7,000... you know, the impending crisis Bush warned of and the Dems laughed at?
 

NoTeaPartyPleez

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We've had a dem pres for six years now. We had a dem controlled senate for six years and dem congress for two.

So if dems are so great WTF happened?
I dunno'! DOW is at 182000 (Bush left it at 7000), unemployment is at 5.7%, gasoline is around $2.00/gal and nobody is coming home from Iraq in coffins anymore. Sucks, don't it?
Cherry pick much?
Nope.

Obama s Top 50 Accomplishments by Paul Glastris Ryan Cooper and Siyu Hu The Washington Monthly


1. Passed Health Care Reform: After five presidents over a century failed to create universal health insurance, signed the Affordable Care Act (2010). It will cover 32 million uninsured Americans beginning in 2014 and mandates a suite of experimental measures to cut health care cost growth, the number one cause of America’s long-term fiscal problems.

2. Passed the Stimulus: Signed $787 billion American Recovery and Reinvestment Act in 2009 to spur economic growth amid greatest recession since the Great Depression. Weeks after stimulus went into effect, unemployment claims began to subside. Twelve months later, the private sector began producing more jobs than it was losing, and it has continued to do so for twenty-three straight months, creating a total of nearly 3.7 million new private-sector jobs.

3. Passed Wall Street Reform: Signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) to re-regulate the financial sector after its practices caused the Great Recession. The new law tightens capital requirements on large banks and other financial institutions, requires derivatives to be sold on clearinghouses and exchanges, mandates that large banks provide “living wills” to avoid chaotic bankruptcies, limits their ability to trade with customers’ money for their own profit, and creates the Consumer Financial Protection Bureau (now headed by Richard Cordray) to crack down on abusive lending products and companies.

4. Ended the War in Iraq: Ordered all U.S. military forces out of the country. Last troops left on December 18, 2011.

5. Began Drawdown of War in Afghanistan: From a peak of 101,000 troops in June 2011, U.S. forces are now down to 91,000, with 23,000 slated to leave by the end of summer 2012. According to Secretary of Defense Leon Panetta, the combat mission there will be over by next year.

6. Eliminated Osama bin laden: In 2011, ordered special forces raid of secret compound in Abbottabad, Pakistan, in which the terrorist leader was killed and a trove of al-Qaeda documents was discovered.

7. Turned Around U.S. Auto Industry: In 2009, injected $62 billion in federal money (on top of $13.4 billion in loans from the Bush administration) into ailing GM and Chrysler in return for equity stakes and agreements for massive restructuring. Since bottoming out in 2009, the auto industry has added more than 100,000 jobs. In 2011, the Big Three automakers all gained market share for the first time in two decades. The government expects to lose $16 billion of its investment, less if the price of the GM stock it still owns increases.

8. Recapitalized Banks: In the midst of financial crisis, approved controversial Treasury Department plan to lure private capital into the country’s largest banks via “stress tests” of their balance sheets and a public-private fund to buy their “toxic” assets. Got banks back on their feet at essentially zero cost to the government.

9. Repealed “Don’t Ask, Don’t Tell”: Ended 1990s-era restriction and formalized new policy allowing gays and lesbians to serve openly in the military for the first time.

10. Toppled Moammar Gaddafi: In March 2011, joined a coalition of European and Arab governments in military action, including air power and naval blockade, against Gaddafi regime to defend Libyan civilians and support rebel troops. Gaddafi’s forty-two-year rule ended when the dictator was overthrown and killed by rebels on October 20, 2011. No American lives were lost.

11. Told Mubarak to Go: On February 1, 2011, publicly called on Egyptian President Hosni Mubarak to accept reform or step down, thus weakening the dictator’s position and putting America on the right side of the Arab Spring. Mubarak ended thirty-year rule when overthrown on February 11.

12. Reversed Bush Torture Policies: Two days after taking office, nullified Bush-era rulings that had allowed detainees in U.S. custody to undergo certain “enhanced” interrogation techniques considered inhumane under the Geneva Conventions. Also released the secret Bush legal rulings supporting the use of these techniques.

13. Improved America’s Image Abroad: With new policies, diplomacy, and rhetoric, reversed a sharp decline in world opinion toward the U.S. (and the corresponding loss of “soft power”) during the Bush years. From 2008 to 2011, favorable opinion toward the United States rose in ten of fifteen countries surveyed by the Pew Global Attitudes Project, with an average increase of 26 percent.

14. Kicked Banks Out of Federal Student Loan Program, Expanded Pell Grant Spending: As part of the 2010 health care reform bill, signed measure ending the wasteful decades-old practice of subsidizing banks to provide college loans. Starting July 2010 all students began getting their federal student loans directly from the federal government. Treasury will save $67 billion over ten years, $36 billion of which will go to expanding Pell Grants to lower-income students.

15. Created Race to the Top: With funds from stimulus, started $4.35 billion program of competitive grants to encourage and reward states for education reform.

16. Boosted Fuel Efficiency Standards: Released new fuel efficiency standards in 2011 that will nearly double the fuel economy for cars and trucks by 2025.

17. Coordinated International Response to Financial Crisis: To keep world economy out of recession in 2009 and 2010, helped secure from G-20 nations more than $500 billion for the IMF to provide lines of credit and other support to emerging market countries, which kept them liquid and avoided crises with their currencies.

18. Passed Mini Stimuli: To help families hurt by the recession and spur the economy as stimulus spending declined, signed series of measures (July 22, 2010; December 17, 2010; December 23, 2011) to extend unemployment insurance and cut payroll taxes.

19. Began Asia “Pivot”: In 2011, reoriented American military and diplomatic priorities and focus from the Middle East and Europe to the Asian-Pacific region. Executed multipronged strategy of positively engaging China while reasserting U.S. leadership in the region by increasing American military presence and crafting new commercial, diplomatic, and military alliances with neighboring countries made uncomfortable by recent Chinese behavior.

20. Increased Support for Veterans: With so many soldiers coming home from Iraq and Iran with serious physical and mental health problems, yet facing long waits for services, increased 2010 Department of Veterans Affairs budget by 16 percent and 2011 budget by 10 percent. Also signed new GI bill offering $78 billion in tuition assistance over a decade, and provided multiple tax credits to encourage businesses to hire veterans.

21. Tightened Sanctions on Iran: In effort to deter Iran’s nuclear program, signed Comprehensive Iran Sanctions, Accountability, and Divestment Act (2010) to punish firms and individuals who aid Iran’s petroleum sector. In late 2011 and early 2012, coordinated with other major Western powers to impose sanctions aimed at Iran’s banks and with Japan, South Korea, and China to shift their oil purchases away from Iran.

22. Created Conditions to Begin Closing Dirtiest Power Plants: New EPA restrictions on mercury and toxic pollution, issued in December 2011, likely to lead to the closing of between sixty-eight and 231 of the nation’s oldest and dirtiest coal-fired power plants. Estimated cost to utilities: at least $11 billion by 2016. Estimated health benefits: $59 billion to $140 billion. Will also significantly reduce carbon emissions and, with other regulations, comprises what’s been called Obama’s “stealth climate policy.”

23. Passed Credit Card Reforms: Signed the Credit Card Accountability, Responsibility, and Disclosure Act (2009), which prohibits credit card companies from raising rates without advance notification, mandates a grace period on interest rate increases, and strictly limits overdraft and other fees.

24. Eliminated Catch-22 in Pay Equality Laws: Signed Lilly Ledbetter Fair Pay Act in 2009, giving women who are paid less than men for the same work the right to sue their employers after they find out about the discrimination, even if that discrimination happened years ago. Under previous law, as interpreted by the Supreme Court in Ledbetter v. Goodyear Tire & Rubber Co., the statute of limitations on such suits ran out 180 days after the alleged discrimination occurred, even if the victims never knew about it.

25. Protected Two Liberal Seats on the U.S. Supreme Court: Nominated and obtained confirmation for Sonia Sotomayor, the first Hispanic and third woman to serve, in 2009; and Elena Kagan, the fourth woman to serve, in 2010. They replaced David Souter and John Paul Stevens, respectively.

26. Improved Food Safety System: In 2011, signed FDA Food Safety Modernization Act, which boosts the Food and Drug Administration’s budget by $1.4 billion and expands its regulatory responsibilities to include increasing number of food inspections, issuing direct food recalls, and reviewing the current food safety practices of countries importing products into America.

27. Achieved New START Treaty: Signed with Russia (2010) and won ratification in Congress (2011) of treaty that limits each country to 1,550 strategic warheads (down from 2,200) and 700 launchers (down from more than 1,400), and reestablished and strengthened a monitoring and transparency program that had lapsed in 2009, through which each country can monitor the other.

28. Expanded National Service: Signed Serve America Act in 2009, which authorized a tripling of the size of AmeriCorps. Program grew 13 percent to 85,000 members across the country by 2012, when new House GOP majority refused to appropriate more funds for further expansion.

29. Expanded Wilderness and Watershed Protection: Signed Omnibus Public Lands Management Act (2009), which designated more than 2 million acres as wilderness, created thousands of miles of recreational and historic trails, and protected more than 1,000 miles of rivers.

30. Gave the FDA Power to Regulate Tobacco: Signed the Family Smoking Prevention and Tobacco Control Act (2009). Nine years in the making and long resisted by the tobacco industry, the law mandates that tobacco manufacturers disclose all ingredients, obtain FDA approval for new tobacco products, and expand the size and prominence of cigarette warning labels, and bans the sale of misleadingly labeled “light” cigarette brands and tobacco sponsorship of entertainment events.

31. Pushed Federal Agencies to Be Green Leaders: Issued executive order in 2009 requiring all federal agencies to make plans to soften their environmental impacts by 2020. Goals include 30 percent reduction in fleet gasoline use, 26 percent boost in water efficiency, and sustainability requirements for 95 percent of all federal contracts. Because federal government is the country’s single biggest purchaser of goods and services, likely to have ripple effects throughout the economy for years to come.

32. Passed Fair Sentencing Act: Signed 2010 legislation that reduces sentencing disparity between crack versus powder cocaine possessionfrom100 to1 to 18 to1.

33. Trimmed and Reoriented Missile Defense: Cut the Reagan-era “Star Wars” missile defense budget, saving $1.4 billion in 2010, and canceled plans to station antiballistic missile systems in Poland and the Czech Republic in favor of sea-based defense plan focused on Iran and North Korea.

34. Began Post-Post-9/11 Military Builddown: After winning agreement from congressional Republicans and Democrats in summer 2011 budget deal to reduce projected defense spending by $450 billion, proposed new DoD budget this year with cuts of that size and a new national defense strategy that would shrink ground forces from 570,000 to 490,000 over the next ten years while increasing programs in intelligence gathering and cyberwarfare.

35. Let Space Shuttle Die and Killed Planned Moon Mission: Allowed the expensive ($1 billion per launch), badly designed, dangerous shuttle program to make its final launch on July 8, 2011. Cut off funding for even more bloated and problem-plagued Bush-era Constellation program to build moon base in favor of support for private-sector low-earth orbit ventures, research on new rocket technologies for long-distance manned flight missions, and unmanned space exploration, including the largest interplanetary rover ever launched, which will investigate Mars’s potential to support life.

36. Invested Heavily in Renewable Technology: As part of the 2009 stimulus, invested $90 billion, more than any previous administration, in research on smart grids, energy efficiency, electric cars, renewable electricity generation, cleaner coal, and biofuels.

37. Crafting Next-Generation School Tests: Devoted $330 million in stimulus money to pay two consortia of states and universities to create competing versions of new K-12 student performance tests based on latest psychometric research. New tests could transform the learning environment in vast majority of public school classrooms beginning in 2014.

38. Cracked Down on Bad For-Profit Colleges: In effort to fight predatory practices of some for-profit colleges, Department of Education issued “gainful employment” regulations in 2011 cutting off commercially focused schools from federal student aid funding if more than 35 percent of former students aren’t paying off their loans and/or if the average former student spends more than 12 percent of his or her total earnings servicing student loans.

39. Improved School Nutrition: In coordination with Michelle Obama, signed Healthy Hunger-Free Kids Act in 2010 mandating $4.5 billion spending boost and higher nutritional and health standards for school lunches. New rules based on the law, released in January, double the amount of fruits and vegetables and require only whole grains in food served to students.

40. Expanded Hate Crimes Protections: Signed Hate Crimes Prevention Act (2009), which expands existing hate crime protections to include crimes based on a victim’s sexual orientation, gender, or disability, in addition to race, color, religion, or national origin.

41. Avoided Scandal: As of November 2011, served longer than any president in decades without a scandal, as measured by the appearance of the word “scandal” (or lack thereof) on the front page of the Washington Post.

42. Brokered Agreement for Speedy Compensation to Victims of Gulf Oil Spill: Though lacking statutory power to compel British Petroleum to act, used moral authority of his office to convince oil company to agree in 2010 to a $20 billion fund to compensate victims of the Deepwater Horizon oil spill in the Gulf of Mexico; $6.5 billion already paid out without lawsuits. By comparison, it took nearly two decades for plaintiffs in the Exxon Valdez Alaska oil spill case to receive $1.3 billion.

43. Created Recovery.gov: Web site run by independent board of inspectors general looking for fraud and abuse in stimulus spending, provides public with detailed information on every contract funded by $787 billion American Recovery and Reinvestment Act. Thanks partly to this transparency, board has uncovered very little fraud, and Web site has become national model: “The stimulus has done more to promote transparency at almost all levels of government than any piece of legislation in recent memory,” reports Governing magazine.

44. Pushed Broadband Coverage: Proposed and obtained in 2011 Federal Communications Commission approval for a shift of $8 billion in subsidies away from landlines and toward broadband Internet for lower-income rural families.

45. Expanded Health Coverage for Children: Signed 2009 Children’s Health Insurance Authorization Act, which allows the Children’s Health Insurance Program (CHIP) to cover health care for 4 million more children, paid for by a tax increase on tobacco products.

46. Recognized the Dangers of Carbon Dioxide: In 2009, EPA declared carbon dioxide a pollutant, allowing the agency to regulate its production.

47. Expanded Stem Cell Research: In 2009, eliminated the Bush-era restrictions on embryonic stem cell research, which shows promise in treating spinal injuries, among many other areas.

48. Provided Payment to Wronged Minority Farmers: In 2009, signed Claims Resolution Act, which provided $4.6 billion in funding for a legal settlement with black and Native American farmers who the government cheated out of loans and natural resource royalties in years past.

49. Helped South Sudan Declare Independence: Helped South Sudan Declare Independence: Appointed two envoys to Sudan and personally attended a special UN meeting on the area. Through U.S. ambassador to the United Nations Ambassador Susan Rice, helped negotiate a peaceful split in 2011.

50. Killed the F-22: In 2009, ended further purchases of Lockheed Martin single-seat, twin-engine, fighter aircraft, which cost $358 million apiece. Though the military had 187 built, the plane has never flown a single combat mission. Eliminating it saved $4 billion.
 

NoTeaPartyPleez

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We've had a dem pres for six years now. We had a dem controlled senate for six years and dem congress for two.

So if dems are so great WTF happened?
I dunno'! DOW is at 182000 (Bush left it at 7000), unemployment is at 5.7%, gasoline is around $2.00/gal and nobody is coming home from Iraq in coffins anymore. Sucks, don't it?
Actually the Dem's CRA and it's aftermath left it at 7,000... you know, the impending crisis Bush warned of and the Dems laughed at?
Bush didn't warn of any crisis. He and McCain repeatedly said, "...the economy is fundamentally sound". However, when Wall Street fleeced investors and homeowners, he did say, "Wall Street got drunk!"
 

NoTeaPartyPleez

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Republicans are trying to shut down the gov't again, even after Tan Man said that wouldn't happen again. They can't even agree amongst themselves, so no...they need to be voted out again. Stupid Americans who put them back in the majority last November will regret their vote.

GOP lawmakers clash over shutdown
Tensions rise within the party despite control of both chambers of Congress.

Read more: GOP lawmakers clash over shutdown - Manu Raju and Jake Sherman - POLITICO
 

The Rabbi

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We've had a dem pres for six years now. We had a dem controlled senate for six years and dem congress for two.

So if dems are so great WTF happened?
I dunno'! DOW is at 182000 (Bush left it at 7000), unemployment is at 5.7%, gasoline is around $2.00/gal and nobody is coming home from Iraq in coffins anymore. Sucks, don't it?
Cherry pick much?
Nope.

Obama s Top 50 Accomplishments by Paul Glastris Ryan Cooper and Siyu Hu The Washington Monthly


1. Passed Health Care Reform: After five presidents over a century failed to create universal health insurance, signed the Affordable Care Act (2010). It will cover 32 million uninsured Americans beginning in 2014 and mandates a suite of experimental measures to cut health care cost growth, the number one cause of America’s long-term fiscal problems.

2. Passed the Stimulus: Signed $787 billion American Recovery and Reinvestment Act in 2009 to spur economic growth amid greatest recession since the Great Depression. Weeks after stimulus went into effect, unemployment claims began to subside. Twelve months later, the private sector began producing more jobs than it was losing, and it has continued to do so for twenty-three straight months, creating a total of nearly 3.7 million new private-sector jobs.

3. Passed Wall Street Reform: Signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) to re-regulate the financial sector after its practices caused the Great Recession. The new law tightens capital requirements on large banks and other financial institutions, requires derivatives to be sold on clearinghouses and exchanges, mandates that large banks provide “living wills” to avoid chaotic bankruptcies, limits their ability to trade with customers’ money for their own profit, and creates the Consumer Financial Protection Bureau (now headed by Richard Cordray) to crack down on abusive lending products and companies.

4. Ended the War in Iraq: Ordered all U.S. military forces out of the country. Last troops left on December 18, 2011.

5. Began Drawdown of War in Afghanistan: From a peak of 101,000 troops in June 2011, U.S. forces are now down to 91,000, with 23,000 slated to leave by the end of summer 2012. According to Secretary of Defense Leon Panetta, the combat mission there will be over by next year.

6. Eliminated Osama bin laden: In 2011, ordered special forces raid of secret compound in Abbottabad, Pakistan, in which the terrorist leader was killed and a trove of al-Qaeda documents was discovered.

7. Turned Around U.S. Auto Industry: In 2009, injected $62 billion in federal money (on top of $13.4 billion in loans from the Bush administration) into ailing GM and Chrysler in return for equity stakes and agreements for massive restructuring. Since bottoming out in 2009, the auto industry has added more than 100,000 jobs. In 2011, the Big Three automakers all gained market share for the first time in two decades. The government expects to lose $16 billion of its investment, less if the price of the GM stock it still owns increases.

8. Recapitalized Banks: In the midst of financial crisis, approved controversial Treasury Department plan to lure private capital into the country’s largest banks via “stress tests” of their balance sheets and a public-private fund to buy their “toxic” assets. Got banks back on their feet at essentially zero cost to the government.

9. Repealed “Don’t Ask, Don’t Tell”: Ended 1990s-era restriction and formalized new policy allowing gays and lesbians to serve openly in the military for the first time.

10. Toppled Moammar Gaddafi: In March 2011, joined a coalition of European and Arab governments in military action, including air power and naval blockade, against Gaddafi regime to defend Libyan civilians and support rebel troops. Gaddafi’s forty-two-year rule ended when the dictator was overthrown and killed by rebels on October 20, 2011. No American lives were lost.

11. Told Mubarak to Go: On February 1, 2011, publicly called on Egyptian President Hosni Mubarak to accept reform or step down, thus weakening the dictator’s position and putting America on the right side of the Arab Spring. Mubarak ended thirty-year rule when overthrown on February 11.

12. Reversed Bush Torture Policies: Two days after taking office, nullified Bush-era rulings that had allowed detainees in U.S. custody to undergo certain “enhanced” interrogation techniques considered inhumane under the Geneva Conventions. Also released the secret Bush legal rulings supporting the use of these techniques.

13. Improved America’s Image Abroad: With new policies, diplomacy, and rhetoric, reversed a sharp decline in world opinion toward the U.S. (and the corresponding loss of “soft power”) during the Bush years. From 2008 to 2011, favorable opinion toward the United States rose in ten of fifteen countries surveyed by the Pew Global Attitudes Project, with an average increase of 26 percent.

14. Kicked Banks Out of Federal Student Loan Program, Expanded Pell Grant Spending: As part of the 2010 health care reform bill, signed measure ending the wasteful decades-old practice of subsidizing banks to provide college loans. Starting July 2010 all students began getting their federal student loans directly from the federal government. Treasury will save $67 billion over ten years, $36 billion of which will go to expanding Pell Grants to lower-income students.

15. Created Race to the Top: With funds from stimulus, started $4.35 billion program of competitive grants to encourage and reward states for education reform.

16. Boosted Fuel Efficiency Standards: Released new fuel efficiency standards in 2011 that will nearly double the fuel economy for cars and trucks by 2025.

17. Coordinated International Response to Financial Crisis: To keep world economy out of recession in 2009 and 2010, helped secure from G-20 nations more than $500 billion for the IMF to provide lines of credit and other support to emerging market countries, which kept them liquid and avoided crises with their currencies.

18. Passed Mini Stimuli: To help families hurt by the recession and spur the economy as stimulus spending declined, signed series of measures (July 22, 2010; December 17, 2010; December 23, 2011) to extend unemployment insurance and cut payroll taxes.

19. Began Asia “Pivot”: In 2011, reoriented American military and diplomatic priorities and focus from the Middle East and Europe to the Asian-Pacific region. Executed multipronged strategy of positively engaging China while reasserting U.S. leadership in the region by increasing American military presence and crafting new commercial, diplomatic, and military alliances with neighboring countries made uncomfortable by recent Chinese behavior.

20. Increased Support for Veterans: With so many soldiers coming home from Iraq and Iran with serious physical and mental health problems, yet facing long waits for services, increased 2010 Department of Veterans Affairs budget by 16 percent and 2011 budget by 10 percent. Also signed new GI bill offering $78 billion in tuition assistance over a decade, and provided multiple tax credits to encourage businesses to hire veterans.

21. Tightened Sanctions on Iran: In effort to deter Iran’s nuclear program, signed Comprehensive Iran Sanctions, Accountability, and Divestment Act (2010) to punish firms and individuals who aid Iran’s petroleum sector. In late 2011 and early 2012, coordinated with other major Western powers to impose sanctions aimed at Iran’s banks and with Japan, South Korea, and China to shift their oil purchases away from Iran.

22. Created Conditions to Begin Closing Dirtiest Power Plants: New EPA restrictions on mercury and toxic pollution, issued in December 2011, likely to lead to the closing of between sixty-eight and 231 of the nation’s oldest and dirtiest coal-fired power plants. Estimated cost to utilities: at least $11 billion by 2016. Estimated health benefits: $59 billion to $140 billion. Will also significantly reduce carbon emissions and, with other regulations, comprises what’s been called Obama’s “stealth climate policy.”

23. Passed Credit Card Reforms: Signed the Credit Card Accountability, Responsibility, and Disclosure Act (2009), which prohibits credit card companies from raising rates without advance notification, mandates a grace period on interest rate increases, and strictly limits overdraft and other fees.

24. Eliminated Catch-22 in Pay Equality Laws: Signed Lilly Ledbetter Fair Pay Act in 2009, giving women who are paid less than men for the same work the right to sue their employers after they find out about the discrimination, even if that discrimination happened years ago. Under previous law, as interpreted by the Supreme Court in Ledbetter v. Goodyear Tire & Rubber Co., the statute of limitations on such suits ran out 180 days after the alleged discrimination occurred, even if the victims never knew about it.

25. Protected Two Liberal Seats on the U.S. Supreme Court: Nominated and obtained confirmation for Sonia Sotomayor, the first Hispanic and third woman to serve, in 2009; and Elena Kagan, the fourth woman to serve, in 2010. They replaced David Souter and John Paul Stevens, respectively.

26. Improved Food Safety System: In 2011, signed FDA Food Safety Modernization Act, which boosts the Food and Drug Administration’s budget by $1.4 billion and expands its regulatory responsibilities to include increasing number of food inspections, issuing direct food recalls, and reviewing the current food safety practices of countries importing products into America.

27. Achieved New START Treaty: Signed with Russia (2010) and won ratification in Congress (2011) of treaty that limits each country to 1,550 strategic warheads (down from 2,200) and 700 launchers (down from more than 1,400), and reestablished and strengthened a monitoring and transparency program that had lapsed in 2009, through which each country can monitor the other.

28. Expanded National Service: Signed Serve America Act in 2009, which authorized a tripling of the size of AmeriCorps. Program grew 13 percent to 85,000 members across the country by 2012, when new House GOP majority refused to appropriate more funds for further expansion.

29. Expanded Wilderness and Watershed Protection: Signed Omnibus Public Lands Management Act (2009), which designated more than 2 million acres as wilderness, created thousands of miles of recreational and historic trails, and protected more than 1,000 miles of rivers.

30. Gave the FDA Power to Regulate Tobacco: Signed the Family Smoking Prevention and Tobacco Control Act (2009). Nine years in the making and long resisted by the tobacco industry, the law mandates that tobacco manufacturers disclose all ingredients, obtain FDA approval for new tobacco products, and expand the size and prominence of cigarette warning labels, and bans the sale of misleadingly labeled “light” cigarette brands and tobacco sponsorship of entertainment events.

31. Pushed Federal Agencies to Be Green Leaders: Issued executive order in 2009 requiring all federal agencies to make plans to soften their environmental impacts by 2020. Goals include 30 percent reduction in fleet gasoline use, 26 percent boost in water efficiency, and sustainability requirements for 95 percent of all federal contracts. Because federal government is the country’s single biggest purchaser of goods and services, likely to have ripple effects throughout the economy for years to come.

32. Passed Fair Sentencing Act: Signed 2010 legislation that reduces sentencing disparity between crack versus powder cocaine possessionfrom100 to1 to 18 to1.

33. Trimmed and Reoriented Missile Defense: Cut the Reagan-era “Star Wars” missile defense budget, saving $1.4 billion in 2010, and canceled plans to station antiballistic missile systems in Poland and the Czech Republic in favor of sea-based defense plan focused on Iran and North Korea.

34. Began Post-Post-9/11 Military Builddown: After winning agreement from congressional Republicans and Democrats in summer 2011 budget deal to reduce projected defense spending by $450 billion, proposed new DoD budget this year with cuts of that size and a new national defense strategy that would shrink ground forces from 570,000 to 490,000 over the next ten years while increasing programs in intelligence gathering and cyberwarfare.

35. Let Space Shuttle Die and Killed Planned Moon Mission: Allowed the expensive ($1 billion per launch), badly designed, dangerous shuttle program to make its final launch on July 8, 2011. Cut off funding for even more bloated and problem-plagued Bush-era Constellation program to build moon base in favor of support for private-sector low-earth orbit ventures, research on new rocket technologies for long-distance manned flight missions, and unmanned space exploration, including the largest interplanetary rover ever launched, which will investigate Mars’s potential to support life.

36. Invested Heavily in Renewable Technology: As part of the 2009 stimulus, invested $90 billion, more than any previous administration, in research on smart grids, energy efficiency, electric cars, renewable electricity generation, cleaner coal, and biofuels.

37. Crafting Next-Generation School Tests: Devoted $330 million in stimulus money to pay two consortia of states and universities to create competing versions of new K-12 student performance tests based on latest psychometric research. New tests could transform the learning environment in vast majority of public school classrooms beginning in 2014.

38. Cracked Down on Bad For-Profit Colleges: In effort to fight predatory practices of some for-profit colleges, Department of Education issued “gainful employment” regulations in 2011 cutting off commercially focused schools from federal student aid funding if more than 35 percent of former students aren’t paying off their loans and/or if the average former student spends more than 12 percent of his or her total earnings servicing student loans.

39. Improved School Nutrition: In coordination with Michelle Obama, signed Healthy Hunger-Free Kids Act in 2010 mandating $4.5 billion spending boost and higher nutritional and health standards for school lunches. New rules based on the law, released in January, double the amount of fruits and vegetables and require only whole grains in food served to students.

40. Expanded Hate Crimes Protections: Signed Hate Crimes Prevention Act (2009), which expands existing hate crime protections to include crimes based on a victim’s sexual orientation, gender, or disability, in addition to race, color, religion, or national origin.

41. Avoided Scandal: As of November 2011, served longer than any president in decades without a scandal, as measured by the appearance of the word “scandal” (or lack thereof) on the front page of the Washington Post.

42. Brokered Agreement for Speedy Compensation to Victims of Gulf Oil Spill: Though lacking statutory power to compel British Petroleum to act, used moral authority of his office to convince oil company to agree in 2010 to a $20 billion fund to compensate victims of the Deepwater Horizon oil spill in the Gulf of Mexico; $6.5 billion already paid out without lawsuits. By comparison, it took nearly two decades for plaintiffs in the Exxon Valdez Alaska oil spill case to receive $1.3 billion.

43. Created Recovery.gov: Web site run by independent board of inspectors general looking for fraud and abuse in stimulus spending, provides public with detailed information on every contract funded by $787 billion American Recovery and Reinvestment Act. Thanks partly to this transparency, board has uncovered very little fraud, and Web site has become national model: “The stimulus has done more to promote transparency at almost all levels of government than any piece of legislation in recent memory,” reports Governing magazine.

44. Pushed Broadband Coverage: Proposed and obtained in 2011 Federal Communications Commission approval for a shift of $8 billion in subsidies away from landlines and toward broadband Internet for lower-income rural families.

45. Expanded Health Coverage for Children: Signed 2009 Children’s Health Insurance Authorization Act, which allows the Children’s Health Insurance Program (CHIP) to cover health care for 4 million more children, paid for by a tax increase on tobacco products.

46. Recognized the Dangers of Carbon Dioxide: In 2009, EPA declared carbon dioxide a pollutant, allowing the agency to regulate its production.

47. Expanded Stem Cell Research: In 2009, eliminated the Bush-era restrictions on embryonic stem cell research, which shows promise in treating spinal injuries, among many other areas.

48. Provided Payment to Wronged Minority Farmers: In 2009, signed Claims Resolution Act, which provided $4.6 billion in funding for a legal settlement with black and Native American farmers who the government cheated out of loans and natural resource royalties in years past.

49. Helped South Sudan Declare Independence: Helped South Sudan Declare Independence: Appointed two envoys to Sudan and personally attended a special UN meeting on the area. Through U.S. ambassador to the United Nations Ambassador Susan Rice, helped negotiate a peaceful split in 2011.

50. Killed the F-22: In 2009, ended further purchases of Lockheed Martin single-seat, twin-engine, fighter aircraft, which cost $358 million apiece. Though the military had 187 built, the plane has never flown a single combat mission. Eliminating it saved $4 billion.
Thats already a fail out of the gate.
Obama didnt pass any legislation. Congress passes legislation. SIgning legislation you approve of isnt an accomplishment.
Dumbass.
 

Londoner

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Republicans believe that Reaganomics produces a strong economy.

On some levels their faith in Reaganomics makes sense. Lower taxes, fewer regulations and lower labor costs does stimulate the investment side of the equation (meaning: if the capitalist is promised a higher return (because of lower taxes and lower labor costs) than he is more likely to invest).

But Reaganomics has a crucial flaw. It doesn't believe in the structures that boost middle and lower class purchasing power, namely high wages/benefits along with the whole infrastructure of pro-consumer legislation (e.g., anti-trust) and the protection of prices from speculators and monopolists. Nor does it support the whole postwar infrastructure of middle class legislation that made college and health care affordable to struggling families, all of which put more spendin' money in middle class wallets, resulting in massive consumer spending, which is what allows Main Street to thrive.

Reaganomics removed all the things that put more money in middle class wallets, choosing to make up for lowered wages and reduced benefits with the most aggressive expansion of credit in American history. [this was a sly move. They created a sustained economic boom with the strategic expansion of debt, yet they claimed that the boom was due to lower taxes and deregulation. The created a fake credit based democracy - brought to you by Visa, MadterCard and American Express - and they called it Morning in America. Silly rabbit: everyone knows that this fake dream ended in a nightmare of debt. The working American family is now too indebted to consume at the necessary levels to sustain economic growth.

Don't take my word for it. Study what happened to family debt starting in 1980. Essentially, as wages/benefits went down (to spur investment) working Americans needed to borrow more money to fill the gap left by reduced wages. They also had to borrow more money to make up for the loss of their jobs to China (where our capitalists could benefit from the world's cheapest labor). [don't let anyone fool you, our capitalist class loves the criminally cheap labor that comes with a tyrannical state controlled economy]

But here is my point. Reaganomics didn't create a strong economy based on robust wage-based consumption. To the contrary, it spent 30 years driving middle class families deeper into debt so that it could artificially boost the profit margins of the donor class (the folks who own our politicians). Whereas democrats believe that sustained economic growth can only happen if the lower and middle class consumers have legitimate resources to consume (not simply credit and debt gimmicks that allows them to artificially stay afloat in a sea of lowered wages and jobs lost to China).

Look at the job growth from 1945 to 1973, the heyday of postwar liberalism- a time of high taxes and high wages. There is no greater instance of economic growth in history - and we are lucky that Republican presidents (Ike/Nixon) supported the New Deal structure that created the most solvent middle class consumer we've ever seen.

There is a lesson here. You can't have strong domestic job growth if you bankrupt workers (consumers) with the low wage structure of Reaganomics.
 
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EdwardBaiamonte

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* The two times the economy steered into the ditch (Great Depression and Great Recession) were during Republican, laissez faire administrations"
too stupid by 100000% Hoover and Bush were great liberals!! Ever heard of the Hoover Dam Stimulus project?? Bush introduced the firsr $2 trillion and $3 trillion budgets.

See why we are positive that liberalism is based in pure ignorance?
 

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