Follow us:

Jon Talton

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

September 14, 2012 at 10:05 AM

Vote: Are you better off than 4 years ago?

This is the question that Ronald Reagan used to devastating effect against Jimmy Carter in 1980, when inflation was nearly 14 percent and interest rates were around 21 percent. This time, the question is not so simple, as the New York Times pointed out. Ezra Klein of the Washington Post considers it a dumb campaign question.

Four years ago, the world financial system was headed into meltdown. Actions by the Bush and Obama administrations, as well as the Federal Reserve, prevented a new great depression. The Obama stimulus also worked to keep the collapse from being much worse. The remains of the safety net and the FDIC, put in place beginning with the New Deal, prevented financial ruin for many millions.

On the other hand, saving the banks didn’t bring financial reform. The banksters got away with it. The 30-year slide of the middle class has continued even as the plutocracy has gained even more political power. The Military-Industrial Complex and national security state are even more entrenched. For all this, the Republican Party has nominated a feckless character who has supported any position to “close the deal” and this week showed himself profoundly unprepared for the presidency (his “Lehman moment”).

So I’ll try to keep the poll simple. And you have the comments section to vent your spleen and say how I don’t know Econ 101. Constructive comments would be welcome, too.

Are you personally better off now than 4 years ago

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

This Week’s Links:

Comments | More in ALEC corporate support, Bailout, Banking, Campaign 2012, Politics and the economy

COMMENTS

No personal attacks or insults, no hate speech, no profanity. Please keep the conversation civil and help us moderate this thread by reporting any abuse. See our Commenting FAQ.



The opinions expressed in reader comments are those of the author only, and do not reflect the opinions of The Seattle Times.


The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►