Let's see, when we last talked Bush was president, US real GDP was growing at 3.8%, the unemployment rate was 4.7%, the budget deficit as a percentage of GDP was falling, the Pentagon was speeding up missile defense, the free-market was still more or less intact, and the media was bitching about how awful the Bush economy was. Now Obama is president, GDP is contracting at 6.3%, the unemployment rate is 9.4%, the budget deficit is at record highs, missile defense is being slashed (as indeed is all defense despite Iran and DPRK's nuclear saber rattling and the Afghan escalation), large swaths of the finance and auto industries have been nationalized, and the media is grasping at any hesitation in our economic death spiral as sure signs that Obama's remarkable reforms are working. I'm sure Richard Andrew Cloward and Frances Fox Piven would agree.
What a difference eighteen months and an election makes yeah?
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