There is a lot of concern about our faltering economy. Job loss, the shifting of jobs overseas, stagnant consumer demand and loss of production; these and more have been cited as evidence of our poor economy. Many feel that, given the past four years of the Obama administration, these problems should have been overcome and our economy ought to be comfortably sailing into this decade. But just how long does it take to recover from the worst recession since the Great Depression?
During the Great Depression unemployment topped 25 percent, about double what it was a couple of years ago. Elected in 1932, the Roosevelt administration immediately took strong measures to reverse the effects. However, unemployment was still in double digits through the late 1930s. Slow economic growth and unemployment plagued the nation for all of the late 1930s well into FDR’s second term. It wasn’t until the beginning of the Second World War that the draft and World War II really ended unemployment and the U.S. economy recovered. That was about 12 years after the 1929 crash and ten years after the deepest depths of the Depression and the efforts of FDR.
Deep recessions, such as we have just experienced, appear to be difficult to recover from. Consumer confidence and a return of demand seem to remain stagnant, but there currently are strong signs of recovery.
The auto industry, which Mitt Romney would have let go bankrupt, appears to be well on its way to recovery. According to the figures recently released, new housing construction is coming back.
Last night at the Democratic Convention, former President Bill Clinton asked why we would want to fire President Obama and elect a president who would return us to the same lack of financial enforcement and loose regulation that got us into this mess?
Historically, deep recession recovery appears to take time. There are no quick fixes. The question is one of growing consumer demand, not trickle down economics that during the Bush administration appears to have been no trickle at all. We need to let President Obama continue to direct those policies that help us recover and restore the strength of the middle class.
Steve Wolf
Juneau
Comments (42)
Add commentSteve
No
What a laugher
Steve, a remnant of the auto industry is struggling to exist after billions of tax dollars were "invested". It now appears that the "investment" is a loss. What concerns this fiscal conservative the most about the current President is his lack of passing a budget in the past three years. His budget for this current fiscal year did not receive one vote because it was completely irresponsible and even hardline Democrats couldn't escape stench of fertilizer in it.
Don't think this economic Obamanation will be getting my vote.
Doesn't matter, Steve
Alaska will go with Ryan/Romney. Sad but true. Too many Fluetsches here.
So if you're not pleased with Obama. Can't bring yourself down to voting for another republican, given all that they stand for, go find a third party candidate. There are all sorts of interesting parties out there that take courageous and uncompromised positions.
Vote for one of them. If enough people do, they'll become a political force, and change the dialogue and trajectory of future elections. We desperately need more choices that the two bought parties are offering us.
ECONOMY
On public radio news yesterday it was reported that ALL of the auto manufactures announced a 5% increase in sales last quarter.
Just sayin
"America's big automakers enjoyed bumper sales in August as US consumers snapped up new cars and gave a boost to President Barack Obama's bailout of the industry.
GM sold 240,520 new vehicles last month, its highest figure for the year and 10% higher than in August last year. Chrysler's sales rose 14% compared to August 2011 to 148,472, its best August sales figure since 2007."
"Made in America"- Auto Jobs Saved
Where Mitt Romney was willing to turn his back on Akron, Dayton and Toledo, Ohio, the president said, 'I've got your back.' "
And the Lordstown, Ohio GM plant is now working three shifts building the cars of the future like the Chevy Cruze.
The auto industry supports one of every eight jobs in Ohio, and it's alive and growing in America again. All over Ohio -- all over America -- men and women are going back to work with the pride of building something stamped 'Made in America.
The number of jobs saved as a result of the auto rescue, industry, especially in the all- important swing states: 150,000 in Ohio; 34,000 in Pennsylvania; 35,000 in Florida, and 211,000 in Michigan.
The election
I find it a shame to be in the same boat as in 2000. Bush or Gore-Romney or Obama. I would not trust any of the four to drive cross country on their own, let alone run the country. It seems that politics is evolving into the dumbing down paradigm. Incompetent players talk down to the public as if we are nit-wits. The media plays along since they are totally owned by those with agendas built on control. We get treated as extremists because of questions like, “Would you please explain why the World Trade Center Buildings are the first and only steel framed structures ever to collapse because of fire?” While the “official” version is a fairy tale. In the meantime, Washington is being led by its nose into another war that we do not need, do not want, and cannot pay for. I voted for Obama last time because I understood him to say that he was going to end the war in Iran. Instead, he pulled the troops and hired a bunch of thug mercenaries to appease the status quo. Same old, same old in DC whether it is a D or an R. Now that is why I did not waste my time watching either convention.
why would you want four more years of this?
if your focus is on the financial and fiduciary situation, why would you re-elect the guy that said he had all the answers and has since recanted; "too hard," he says? If he were a CEO would you want him to stay this course?
nevermind
@ Grendel
So Romney has all the answers and will "fix" the economy in 4 years? I don't buy it! Never thought Obama could do it....not why I voted for him. I voted for him because I was offended and terrified of the America GW wrought and wanted something completely different. Obama let me down when he sold out. I’m not voting Republican because of the attitudes of the right wing…to them…I’m a worthless woman, old, about to become a drain on society, and because I’m leaning left I MUST BE unemployed, on food stamps and laughing all the way to cash my welfare check. You all did a wonderful job with your hateful words assuring I’ll vote Obama.
Mama T
Don't you find it humorous that Grendel is pointing to Mitt Romney as someone who would "stay the course"? This is a guy who has flipped and caved on every single issue he's ever faced.
Any conservative stupid enough to have bought the line that Romney will hew to their values after a career of flip-flopping...I have a bridge to sell them. Grendel, you're first in line.
@ Lat
Yes I do.
Only...
I'll re-elect Obama just to keep Romney out of office. He screwed all the other truly conservative candidates. Until the conservative party stops nominating liberals, I'll vote democrat just to make my point!
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@Mama T
1. I make no assumptions. I can tell you are an intelligent woman, old is a relative thing, and if you are unemployed it doesn’t sit well with you;
2. I am conservative by nature, and do not like seeing values attacked, discarded, or subverted;
3. If that makes me a right-winger, then you’ve but me in that box;
4. Why Romney? Not my first choice, but play the hand…Because current leadership is an abysmal failure I hold responsible for the stagnation in our political system at all (national) levels;
5. It boils down to a forced option. I absolutely reject Obama’s vision and his actions in office run counter to my values.
One for Lat58 – I try to be respectful in these rooms, until met with disrespect. Your assumptions are always noted.
RNC No Mention of Troops in Afghanistan
Not a word from Romney at RNC about our troops in Afghanistan. Himself and 5 sons none of them ever in the military.
In fact after listening to speeches by Bill Clinton and Michelle Obama Romney's speech was like watching an armless guy paint with his a$$.
@anyrand
WJC admittedly abhorred the military, and (perhaps) Michelle's time in service is a closely guarded secret?
the troops dont serve for political reasons, btw, but they sure get politicized dont they?
No thank you. enough
No thank you. enough
RNC
The RNC was like a seminar on how to flip real estate for Jesus.
Todd Akins said Clinton's speech was a qualified rape
Not fair they have an ex president that can talk.
DNC's over --
how about some time being the Head of State instead of campaigning with the Choom Gang for $25K/plate?
I heard PM Netanyahu has been trying to squeeze in a few minutes...remember him? You vowed to give him a hand to move his capital.
forget about US autos sold for less than cost...
US Ambassador killed in Libya. Cairo enraged. Clearly, diplomacy is a shaky proposition with the post-Arab Spring crowd. The application of the Obama Doctrine is the immediate fix~
Kind of startling that we -- none of us -- have a clue what POTUS will do (what is his doctrine anyway?), but it'd better be decisive, focused, and soon. The VP said we can count on President Obama for crises like this.
@Grendel
But we do know what he'll do - nothing. He's already apologized, what's left for him to do? This bumbling president has cost the lives of hundreds of troops by keeping them in a war with no direction, and he has now cost the lives of diplomats by doing nothing in the face of violent protests other than apologize. This pitiful fool should be apologizing to the American public while submitting his resignation.
our play
I honestly dont know what POTUS will do. And it's not like this situation is unprecedented. It smacks of the AM Mission taken over by Iranian hooligans in '79. So this POTUS should know what NOT to do.
My main point: killing the ambassador is a clear indication that diplomacy is off the table. THEY killed our diplomat & direct REPRESENTATIVE of the president. And with that, the rationality & level-headedness you expect from diplomacy is also off the table. Time for decisive action. Everyone is watching.
Yeah! Let's go invade Iraq
Yeah! Let's go invade Iraq again! That'll show 'em!
@PP--
not the time to get ghoulish. If you think this is anything like Iraq, I cant help you. Our ambassador & his staff were deliberately targeted and murdered. The occasion doesnt fit nicely into any "mold", but it is an attack against the US and demands action.
just a thought
I suggest previewing 2016 on line, & no I'm not trying to stir the pot.
@akjim
"But we do know what he'll do - nothing. He's already apologized, what's left for him to do?"
You are a LIAR.
For the record...
Here is President Obama's statement, from the WALL STREET JOURNAL, on the killing of our Ambassador and staff in Libya:
"I strongly condemn the outrageous attack on our diplomatic facility in Benghazi, which took the lives of four Americans, including Ambassador Chris Stevens. Right now, the American people have the families of those we lost in our thoughts and prayers. They exemplified America’s commitment to freedom, justice, and partnership with nations and people around the globe, and stand in stark contrast to those who callously took their lives.
I have directed my Administration to provide all necessary resources to support the security of our personnel in Libya, and to increase security at our diplomatic posts around the globe. While the United States rejects efforts to denigrate the religious beliefs of others, we must all unequivocally oppose the kind of senseless violence that took the lives of these public servants.
On a personal note, Chris was a courageous and exemplary representative of the United States. Throughout the Libyan revolution, he selflessly served our country and the Libyan people at our mission in Benghazi. As Ambassador in Tripoli, he has supported Libya’s transition to democracy. His legacy will endure wherever human beings reach for liberty and justice. I am profoundly grateful for his service to my Administration, and deeply saddened by this loss.
The brave Americans we lost represent the extraordinary service and sacrifices that our civilians make every day around the globe. As we stand united with their families, let us now redouble our own efforts to carry their work forward."
source: http://blogs.wsj.com/washwire/2012/09/12/obamas-statement-on-libya-attack/
akjim, you should be ashamed of yourself.
Here is the statement from
Here is the statement from the US Embassy in Cairo that you may be calling an "apology." But really, condemning religious intolerance is not an apology. It is 100% red-blooded American ideals, enshrined in our Constitution.
“U.S. Embassy Condemns Religious Incitement
September 11, 2012
The Embassy of the United States in Cairo condemns the continuing efforts by misguided individuals to hurt the religious feelings of Muslims – as we condemn efforts to offend believers of all religions. Today, the 11th anniversary of the September 11, 2001 terrorist attacks on the United States, Americans are honoring our patriots and those who serve our nation as the fitting response to the enemies of democracy. Respect for religious beliefs is a cornerstone of American democracy. We firmly reject the actions by those who abuse the universal right of free speech to hurt the religious beliefs of others”
Source: http://egypt.usembassy.gov/pr091112.html press accounts indicate this url may go down.
regarding that statement from US Mission in Cairo
I understand that the misguided individual is an AMCIT, and if that is the case then maybe this AMCIT was doing whatever he was doing in the US? And if that's the case, then this AMCIT was exercising his 1st Amendment right to free speech. And if that's the case, then the U.S. Embassy in Cairo is condemning this AMCIT's right to free speech.
is it appropriate to condemn an American's right to free speech, wherever that American may be?
Here's Romney's statement per the WP
link: http://www.washingtonpost.com/politics/decision2012/mitt-romneys-stateme...
"Good morning. Americans woke up this morning with -- with tragic news and felt heavy hearts as they considered that individuals who have served in our diplomatic corps were brutally murdered across the world.
This attack on American individuals and embassies is outrageous, it’s disgusting, it -- it breaks the hearts of all of us who think of these people who have served during their lives the cause of freedom and justice and honor.
We -- we mourn their loss and join together in prayer that the spirit of the Almighty might comfort the families of those who have been so brutally slain.
Four diplomats lost their life, including the U.S. ambassador, J. Christopher Stevens, in the attack on our embassy at Benghazi, Libya. And of course with these words I extend my condolences to the grieving loved ones who have left behind, as a result of these who have lost their lives in the service of our nation.
And I know that the people across America are grateful for their service. And we mourn their sacrifice.
America will not tolerate attacks against our citizens and against our embassies. We’ll defend also our constitutional rights of speech and assembly and religion.
We have confidence in our cause in America. We respect our Constitution. We stand for the principles our Constitution protects. We encourage other nations to understand and respect the principles of our Constitution, because we recognize that these principles are the ultimate source of freedom for individuals around the world.
I also believe the administration was wrong to stand by a statement sympathizing with those who had breached our embassy in Egypt, instead of condemning their actions. It’s never too early for the United States government to condemn attacks on Americans and to defend our values.
The White House distanced itself last night from the statement, saying it wasn’t cleared by Washington. That reflects the mixed signals they’re sending to the world.
The attacks in Libya and Egypt underscore that the world remains a dangerous place and that American leadership is still sorely needed. In the face of this violence, American cannot shrink from the responsibility to lead. American leadership is necessary to ensure that events in the region don’t spin out of control. We cannot hesitate to use our influence in the region to support those who share our values and our interests.
Over the last several years, we’ve stood witness to an Arab spring that presents an opportunity for a more peaceful and prosperous, but also poses the potential for peril if the forces of extremism and violence are allowed to control the course of events. We must strive to ensure that the Arab spring does not become an Arab winter. With that, I’m happy to take any questions you may have."