I feel Barack's pain and want him to have a second term.
Bill Clintion's rousing pro-Obama convention speech last night will prove no more effective in saving Obama's failed presidency than was Ronald Reagan's 1992 convention speech able to save George H. W. Bush's (whose presidency was superior to Obama's) from Clinton. Today as in 1992 it was "the economy stupid" that will undo Obama on election day, as it did Bush 41 who, like Obama, had a slow recovery from a recession that Clinton successfully exploited. Because of Obama's pathetic anemic TRICKLE GROWTH recovery Romney will be the next governor after Clinton to defeat a sitting chief executive and make him a one term president.
BILL CLINTON'S SHARED PROSPERITY CATASTROPHE
It was laughable to hear Bill Clinton blame the economic "mess" that Obama inherited (and that he can't fix) on Republican policies; and then warn that Romney and Ryan want to take the country back to those policies. Truth is, Clinton has his fingerprints all over the housing/financial collapse of 2008 that propelled Obama to the presidency. Indeed, the ultimate source of the "mess" was Clinton's (SHARED PROSPERITY)/Fanny Mae subprime mortgage program for credit poor, low income, minority home buyers. This program totally corrupted and destroyed traditional, time tested lending standards to meet the insane, leftist ideological goal of sharing the American Dream of homeownership with low income people, and getting them to buy homes they couldn't afford. Now this corrupt and dangerous Clinton/Fanny program, with its unrealistic goals, was adopted as a model by the banking/mortgage industry with the blessings of Fanny Mae and Freddie Mac who extended unlimited lines of credit to them; this generated millions of risky subprime loans that were bundled into toxic securities and traded on the market until when inflated home prices fell back down to earth they were made worthless causing an epidemic of defaults.
In reality, the presidency of Bill Clinton was a catastrophe. Not only did it set in motion the ruinous market collapse of 2008 with trillions lost, but he weakened our national security system which bin Ladin and Al Qaida defeated on 9/11- worsening the recession that George Bush inherited from him in 2001.
The Romney/Ryan Campaign have two months to educate voters on what Clinton and Obama mean by the deceptive words "SHARED PROSPERITY" and what it did to our economy in 2008 and will do again if Obama is reelected.
THE CLINTON ECONOMY
In the last year of George H. W. Bush's presidency the economy was coming out of a mild recession, which began two years before. But due to a tax hike(the one he swore against doing) the recovery was too slow and wasn't felt by the public and he lost the election, like Obama is about to do. In fact, that recovery was the start of the internet,.com, communications revolution that drove the economic expansion of the 90s and whose seeds were planted during the Reagan years. While Clinton takes credit for the booming economy during his presidency truth is it would have happened all the same if Bush was reelected, or if Ross Perot had won. The Obama recovery is far worse than Bush 41's ,which is why I said only a miracle can save him
Clinton's speech last night began with a lie and finished with a lie and was a tissue of connecting lies inbetween.
Bill's first whopper was that Obama's stimulus bill saved the economy from slipping into a depression. We've heard this lie from Obama and his surrogate time and time again. In truth, what saved us from a depression was George Bush's TARP program which bailed out the banks and saved them from collapse. It is noteworthy that before he signed the $860 billion stimulus into law Obama never made mention that the economy was heading towards a depression, and that the stimulus was needed stop and reverse it. What he did say is that we were in a recession, and that without the stimulus it would go on forever-which is utter nonsense proved by the recessions and depressions of the 19th century that ended without federal intervention.
The last whopper of Clinton's overlong speech was to suggest that Obama's second term would be his third term. This is total bs that Clinton can't possibility believe given his well known contempt for Obama and his teenage presidency.There is no Bill Clinton in Barack Obama. In comparison to Clinton Obama is a rank amateur and mediocre man half his mental size and character. Early on in his first term Clinton, who'd been a three term governor, learned how to be president and mastered the job; in his forth year Obama is still lost, way over his head, unable to master the job and learn to be president. Some presidents are made for the office and are energized by it; other's (Carter and Hoover for example) lack the stuff and are diminished by it. Obama is among the latter having shrunk from the inspirational candidate of "Hope n Change" in 2008 into a divisive, anti-business, demagogic, mud slinging, immature, incompetent lacking in good sense. Obama's reelection would be the second term of Herbert Hoover or Jimmy Carter-a catastrophe.
NO PRESIDENT CAN DO BETTER....
The number of lies connecting the above two whoppers are way too many to write about here-the housing crash being one of them. But there's another whopper that caught my ear that needs to be exposed: the patently false unhistorical assertion that no president, not even the great Slick Willy himself, could do a better job than Obama of fixing this economy in four years. In 1924 and 1984 Calvin Coolidge and Ronald Reagan had booming recoveries on economies they inherited that were every bit as bad, if not worse, than Obama's. Reagan had double digit unemployment (10.8%), inflation and interest rates (called stagflation); and Coolidge had a depression with unemployment of 11.9% plus. In 1984 GDP growth was 6.8% with as much as 500,000 being created per month. In 1924 the unemployment rate precipitously fell to around 4% (full employment) and the roaring, soaring, prospering twenties was underway.