Obama Now Owns Bush's Broken Economy

"Biden said, per Time’s Michael Scherer. “I’m the guy in charge of this deal. So if it doesn’t work, it’s me.”"

Excuse me Joe, you aren't in charge of much of anything. NoBo is running the show. I see you're still confused. Even in the NoBo white House certain changes aren't ever going to happen.

No doubt about it, Obama has inherited a mess. Bush also inherited a mess and has made it worse. Obama will likewise make it worse even if he hopes to make it better. It is the monetary system.

Bush left the biggest mess since his father in 1993.

Please don't keep blaming Bush. How do you be sure that the broken economy was form Bush. To many, it was seeded much earlier before 2001. Obama did ask us to offer him the job, so he should own everything from 1/21/09. If it is too much to bear, there are many candidates in line to have the job. Let's help Pres. Obama to succeed. There is no single one to blame now.

Deregulation and Revolving Doors between private industry, lobbying firms, and regulatory appointments have inflated the economy to such an insane degree, with so many dollars based on fantasy bets that the fix was in the minute the pressure (in the form of dollars) stopped pushing out the sides. With numbers like 60:1 liquidity ratios the amount of fake money that will disappear far outnumbers the real value it will take down with it. It was a long time coming, trying to push infinite growth out of a finite system, but the legs got chopped off under Bush, in a large part because of the reasons he was collecting huge debt markers, war equipment explodes or gets obsolete and replaced, never returning any positive feedback on value, and that's were we just spend the next few decades of the nation's discretionary income, add a few more decades for the bank bailouts, which were always just a cash funnel from the public till to private hands. Needless to say, when it comes to "Owning" the New Depression, history books still call them Hoovervilles, and Bushburgs can only hope to join them.

So Bush-Cheney drive the world economy in the ditch and off a cliff for 8 years, and in 5 months all the damage is not repaired and its Obama's fault?
He headline is almost as inane as those who think Clinton left Bush a mess and Obama "owns everything after 1/21/09".
In short, Bush turned billions of surplus into trillions of debt. Second, neo-con hypcrites hammered Clinton for all of "W's" first term failures. Now you profess outrage agains the same argument used by Dems. The elephant has two faces.

I am an independent. Obama since being elected has pushed more government programs through since "The New Deal" at the demise of our FREE markets. Citibank should have failed, GM should have failed. Other co. would have obsorbed them. He has bailed out out banks and UNION buddies (GM) with our tax dollars rendering our dollars 95% useless. How can we borrow money? Our nation is bankrupt and will be for many years to come. With cap and trade the goverment will come into our homes and take away our choice of energy and make our electric bills go up $3,000 more a year!Our industry now is practically gone and soon we will look like other European countries that were once great.
The "One" or TV sweetheart promised that the stimulus would create jobs. We will hit at least 10% unemployment. Turn to history and see the solutions. Stop printing our dollar bills, rendering them worthless or learn to speak Chinese because our creditors will dominate the US. WAKE UP AMERICANS!I want to cry for our children.

Excuse me- but I WILL continue to blame Bush until at least the end of the summer. Any new President's programs take TIME to have effect.

Obama now controls 2 of the 3 branches of our federal government. He’ll soon control all three. Good or bad the Democrats don’t have to share any credit with anyone, but they can’t share the blame either.
Obama said he can fix everything. He as his own party in total control of Congress so he can’t say he doesn’t have every advantage. So far he’s got everything he’s asked for including bonuses for top corporate executives.
It’s all his, good or bad. You can’t blame Bush any more.

Hey Obama you wanted the job and had all this hope and change and promise and save the USA "talk".Well the so called mess that Bush made should not hinder you for long.The mess has been around for the past 95 years and has been getting worse decade by decade.Wise up people,read your history of this country and know what the hell your talking about before you open those pie holes

"Excuse me- but I WILL continue to blame Bush until at least the end of the summer. Any new President's programs take TIME to have effect." - Bill

I guess that's Ok as long as you throw some blame Clinton's way too.
Some of Clinton's "programs" took time to mature and ferment just like anyone's would.

Noz

Rich executives got their bonuses as part of the largest pork bill in history. That didn’t take long. Raise taxes on the rich so you can give it to the extremely rich.
It didn’t take long to decide he can’t cut taxes for working Americans.

My local gun store has Obama’s picture on the wall naming him salesman of the year. The Republican party will soon name him recruiter of the year.

"Obama Now Owns Bush's Broken Economy" +++++ So five months in office and Obama should have ended the worst economic downturn since the Great Depression?

The economy went downhill for three years after Reagan took office until he ended his "trickle down economics", yet many blamed it on Carter - who in turn has been defended by those blaming it on Ford and Nixon.

But in 5 months, Obama owns the economy? There hasn't even been time to put much of that stimulus money into effect, and states have been pulling the trick of cutting state funding in areas where the stimulus money is being used.

I think we need to give Obama more time!

"I think we need to give Obama more time!" - The_Mick

I agree Mick, but remember the Repugs wanted more stimulus in the bill, less spending and more of the money to go out the door right away.
NoBo didn't go for that.

Repubs are rejoicing at the fact that unemployment is rising and the economy is still wavering. They are gleeful that people are suffering so they can spew more negativity instead of trying to be part of the solution. Just makes you wonder how american they really are?

Obama owned all the president’s problems when he put hand on Lincoln’s Bible. If he didn’t want the responsibility, he shouldn’t have taken the job.
Democrats now control two of the three branches of our federal government. They’ll soon have the third. No matter what happens, it’s their’s. All of the credit and all of the blame.

We have allowed the oil companies, banks, and wall street to get too much
power. They have a strangle hold on the
economy of United States. The
stimusous money is not helping because
it did not get where it belongs. It is
all going to the pockets of the people
who caused the problem. They are trying
to get back what they waisted trying to
get a Republican elected. You show me
a failing company gives bonuses to
workers, no, they lay off the workers
and give bonuses to exexutives.

I agree with one commentator a few months ago who said that, sure, Obama and his democrats can blame Bush, but after a while the economy becomes Obama's. The economy is now Obama's. Of course usually it doesn't happen this fast, but no other president has acted this quickly and this foolishly.

What is everyone whining about? Why are you complaining? You got exactly what you wanted- Obama in the White House. Now that's he's there and you see what's going on (and there's more to come, mind you), you're now saying poor baby, it's not your fault, it's not your economy, dear, it's Bush, he's the bad person. That bad, bad man! FIDDLESTICKS! It IS Obama's economy and it's time he puts some meat and potatoes on the table instead of running around making speeches and giving town halls, wowing us with his oratorical prowess that, like soup or salad, provides noursishment (read: hope, excitement, emotion) for the moment, but then you're waiting, you're starving for the main course! Americans are hurting!!! Meanwhile, he has millions in the bank, along with the rest of his cronies who he gave bonuses to, and his wife is off making a fashion statement in Russia! What happened to all of the promises, the "us" factor, the CHANGE? Where is it?

The state of the US economy, at any given moment in time, is equated by the state of the world economy in this age and age.
Any given US President in the past 20 years plays only a small role in the state of our economy. If the European, Asian and Middle East economies are down, then the US economy is also down and vice-versa. To cast full blame or to give full credit to a US President, for the current state of the US economy, in this relatively new world economy, where everything is now connected together, is a case of having lack of knowledge of the subject.
One example of this is oil, which is a world market publicly traded commodity. If oil commodities rise dramatically in selling prices for a continuos one year period of time, as they did at the end of the Bush Presidency, then you've got a crappy US and World economy; because it has a ripple effect on the selling price of virtually every other commodity, because it now costs more to transport goods worldwide and within the US and this extra cost is factored into the selling prices of other goods and passed on to consumers, in the form of increases in selling prices of goods. People would also pay more in fuel costs and have less money to spend on the goods that are proportionately rising in prices, due to the continuos rise in the trading prices of oil commodities on a worldwide level! The only thing that doesn't go up in price, are workers salaries. Workers buy less an the end result is that companies sell less and then begin the layoff processes on a worldwide level. Then you have a full blown recession on your hands! If oil commodities were to plummet in value for a one year continuos period of time, then the opposite effect would occur. Prices to transport goods and the cost of public transportation would drop. Companies would then be able to reduce the selling prices of their goods and consumers, spending less on fuel costs, would have more money to buy goods and companies would begin the hiring process again and a booming economy would be the end result.
Our economy is now connected to a world economy and to the commodities that are traded worldwide.
I am surprised that the author of this article has so little knowledge about this topic. This article is reminiscent of an article that a naive unknowledgeable 8th grader in Grammar School would compose for a current events class!!!