Al Olson: Recessions take care of themselves if the government doesn’t interfere
To the Editor:
In the U.S., thanks to our free economy, recessions are naturally self-correcting, unless the administration screws it up. Reagan, Bush and Obama each inherited recessions. Clinton inherited a recovery. (Fourth quarter 2002 GDP grew at 4.5 percent) Ronald Reagan didn’t screw it up. George Bush didn’t screw it up. Both guided us to periods of growth.
Obama is screwing it up. Wasted stimulus, excessive earmarks, an inflated budget, tax increases and rampant regulatory expansion have all interfered with the normal recovery process. His actions and policies have engendered a lack of faith in the administration’s plans and distrust of its motives. Public confidence is part of the recovery process, and Obama has lost it up to this point.
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