The political party that has nominally been known for favoring the economy has pretty much erased that reputation.
First, economics under George W. Bush squandered the Clinton surplus two ways:
- Bush sent American revenue on foreign policy that we could not afford and for which their no return on cost
- Bush and his Congress gave to wealthy Americans a windfall in tax breaks when the nation needed that revenue to fund the war we could not afford and impending need for social services
Those things brought the economy to its knees. President Obama was miraculous in addressing the economic meltdown. He stopped it and began to restore stability while Republicans declared war on his presidency.
President Obama has been fighting global terrorists on one hand while Republicans have tied one hand behind his back. The consequence of this specter is to have disgraced the nation on multiple occasions. The most significant outcome of what has become the most disrespected Congress in American history is more bad news for the economy.
When the American economy and government is mismanaged, that creates a risk that undermines our economic standing and stability. America is sick with itself, and therefore is a bad investment under these circumstances.
So, here we go again. “Shutdown” is not the same thing as “touchdown,” you knuckleheads.
“Danger to economy worries experts weighing potential government shutdown, default
By Zachary A. Goldfarb, Published: September 29
A prolonged government shutdown — followed by a potential default on the federal debt — would have economic ripple effects far beyond Washington, upending financial markets, sending the unemployment rate higher and slowing already tepid growth, according to a wide range of economists.
A shutdown of a few days might do little damage, but economists, lawmakers and analysts are increasingly bracing for a shutdown that could last a week or more, given the distance between Republicans and Democrats. Such an outcome would suck money out of the economy and spread anxiety among consumers and businesses in a way that is likely to hold back economic activity.”