Team Obama says “Bush’s failed policies of tax cuts to the rich got us into this problem”.
Team Romney says “The worst recovery ever”.
Let’s cut to the chase.
First, I assert that the housing crash was a bi-partisan effort brewed over several decades … hard to say that it was caused by Bush’s tax policies.
Second, I’ll give Obama that he inherited a mess … and, I’ll start counting from the trough.
Well, well, well.
Turns out that – with the above assumptions — the growth in employment under Bush and Obama (to date) is pretty much equal … at about a 1% compound annual rate.
On one hand, Obama got handled a financial collapse … not just a garden variety business cycle recession.
On the other hand, Obama continued the Bush tax rates … and he (and the Fed) have expended trillions in fiscal and monetary stimulus.
But, Obama continues to run around saying that the Bush tax rates are the cause of all evil … and eliminating them for the wealthy will get us out of this mess.