Clinton Fantasy: No President Could Have Restored The Economy In Four Years

In his convention speech, Clinton said that no president, not even him, could have restored the economy in just 4 years.  Well, that, to me, is B.S.  The economy actually began to heal itself just as Obama took office.  Here's the chart:

In fact, by June of 2009 -- 5 months after Obama took office -- the recession was declared to be officially over.  From the above chart you can clearly see a snap-back in the economy.  Unemployment hadn't yet caught up with the recovery because unemployment is always a lagging indicator.  But, by the 4th quarter of 2009, the economy actually grew by 5.6%.  For the last half of 2009, the economy had recovered to an average 4.1% growth.  This was truly a recovery and, if left alone, it could have been a good recovery.

My contention is that as Stimulus money was being applied it weakened the U.S. dollar as debt was being created.  This, in turn, created inflation in  food, gasoline, clothing, and imported goods.  This inflation seriously damaged the purchasing power of the American consumer.  As a result, consumer spending began to slide and the economy has been weakening ever since.  From 5.6% in the 4th Quarter of 2009, we saw economic growth drop to 3.1% in 2010 and to 2% in 2011.  This year, thus far, growth is another abysmal 1.7% but still subject to being reported lower as the next two quarters of growth are reported.

The fact is that Obama stalled a recovery through massive spending.  Cheapening the dollar through massive debt accumulation has its consequences.  That consequence is a slowed economy and weakened consumer spending..  Apparently, something Clinton either doesn't understand or would just prefer to lie about it.


Report: Clinton: No one could have restored economy to full health in 4 years: http://firstread.nbcnews.com/_news/2012/09/05/13686746-clinton-no-one-could-have-restored-economy-to-full-health-in-4-years?lite