December 29, 2011

We Are Better Off Than Four Years Ago!

We are better off than we were four years ag0. With hindsight we know we were deeply involved in a sub-prime mortgage meltdown that almost brought on a depression. This meltdown was partially brought on by relaxing financial regulations and allowing institutions to get to big to fail.

At the same time, we were involved in a war in Iraq that should never have been. Thanks to Obama we are now out of it. Some will say we left too early. I say we went in too fast. It cost us much in life and treasure, while getting very little in return.

In November 2008 everything came to a head and we were starring a depression in the eye. Without quick action by the Federal Reserve, during Bush's term, we indeed would have revisited the 1930's. Much of the large spending increases the Republicans complain about resulted from the errors made during the Bush years. The truth is economic hangovers hurt and they take years to correct. http://goo.gl/4i0fp

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