Monday, August 27, 2012

Jeb Bush: Obama should stop blaming others for the economy

"Economics 101" describes markets as "cyclical" or "secular."

1.) "Cyclical markets" (also know as volatile markets) are short-term, relatively predictable and typically last fewer than 5 years.

2.) "Secular markets" last several decades.

Market conditions that induce cyclical or secular markets vary.

The secular market that began in 2007-2008 was caused by 1.) a combination of unregulated "irrational exuberance" in the real estate and banking industries, 2.) low federal revenues and 3.) high federal expenditures. (Notably, the Iraq and Afghan wars were conducted "off budget" with no appeal to national sacrifice.)

Historians agree that "the collapse" of the financial industry and real estate market was brought about by abysmal Republican leadership.

The secular market we are now saddled with is analogous to an person who has suffered severe spinal cord injury.

Not only has our central nervous system trauma induced long-term paralysis (categorically unlike the "flesh wounds" of cyclical markets,) paralysis also requires a long period of fundamental re-constitution based on "basic research" that develops brand-new procedures for the restoration of mobility.

Even among Republicns, George W. Bush is a laughing stock. (A panel of 238 presidential historians lists Bush as 5th worst; and Obama as 15th best, three slots ahead of Ronald Reagan.

Not surprisingly, brother Jeb wants to restore the family honor by pretending that the severed spinal cord was a flesh wound and that Obama should have managed a cyclical recovery whereas Dubyah created a secular crisis.

An accurate account of what happened in 2007-2008 would represent George W. Bush as the gunman who shot America in the back, resulting in serious, life-threatening injury that will take decades for full recovery - just as The Great Depression did.

Jeb Bush: Obama should stop blaming others for the economy

(CNN) – Jeb Bush, the Republican former governor of Florida, said Sunday it's time for President Barack Obama to stop blaming the ailing economy on President George W. Bush, Obama’s predecessor and Jeb Bush’s brother.
While conceding that Obama did inherit a tough economy when he took office in 2008, Bush said that Obama’s policies have hindered the country's economic growth.
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"I think it is time for him to move on," said Bush said on NBC's "Meet the Press."
"His policies have failed," said Bush. "And rather than blame others - which I know we were taught that that was kind of unbecoming, over time you just can't keep doing that - maybe offer some fresh new solutions to the problems that we face. But that's not going to happen between now and Election Day."
On the topic of turning the economy around and creating jobs, Obama and his presidential campaign often tell voters that the fiscal policies of the George W. Bush administration and, more broadly, Republicans caused the country's initial economic downward spiral.
Asked about the recent debate over the Republican Party's stance on abortion – which has frustrated GOP efforts to stay on the economic message - Bush said his party needs to stay focused on the president's record.
The heated debate over abortion rights was spurred by controversial comments made last week by Senate candidate Rep. Todd Akin from Missouri, as well as the Republican National Committee's development of the official party platform. The draft platform calls for a constitutional amendment banning abortion, with no exceptions for rape or incest.
"I know that the Romney campaign would prefer to talk about the things that are on the minds of the American people," said Bush of the Akin controversy, also noting the presumptive GOP nominee's stance on abortion, which differs from the party's platform and would allow for abortion in the instances of rape and incest.
According to a CNN/ORC survey, 83% of Americans say that abortion should be legal in cases of rape or incest, with similar numbers believing abortion should be legal when the life or health of the mother is endangered.
Bush, rumored to have been considered as a potential running mate pick for Romney, also said he's not interested in a presidential run.
"I don't think about it. I'm not motivated by it. It takes an incredible amount of discipline and ambition to even think about aspiring to it and I'm not there yet in my life," he said. "I'm excited about supporting Mitt Romney. He's a great guy."
Bush is slotted to speak in a headlining role at the Republican National Convention in Tampa, Florida, on Thursday.
CNN Political Editor Paul Steinhauser contributed to this report

1 comment:

  1. If you really believe this nonsense then I would encourage you to look at what effect Congress has on the economy. They actually make the budget, and create taxes/tax breaks. Notice that the economy started going downhill when the Democrats took control of Congress in 2006. Red = Republican Blue = Democrat