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Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

March 9, 2012 at 9:52 AM

Vote: Did Obama help make the recovery?

Presidents are like quarterbacks, getting too much credit or too much blame for the game, in this case the economy. If the business cycle had rolled differently and the congressionally enabled S&L bust hadn’t happened, George H.W. Bush almost certainly would have won a second term. Now the U.S. economy is healing slowly, with today’s report of 227,000 new jobs added in February as the latest sign. How much credit should President Obama get?

Some would argue he deserves much credit, as is laid out in this Washington Monthly article. I wrote elsewhere that almost all of these accomplishments require a qualifying asterisk. For example, Mr. Obama and Ben Bernanke helped keep the meltdown from becoming a depression. Yet the rule of law has not been enforced on Wall Street and the stimulus was too small and wasted.

I won’t play the “socialism” game. If the president is a socialist, where is my universal health care, great train system, protected job, high taxes on the wealthy and expanded public sector? Bah.

How much credit do you give Obama on the economy

Read on for the best links of the week and the haiku:

This Week’s Links:

Comments | More in Politics and the economy

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