Niall Ferguson is an idiot.
I read his article about the “failed promises” of the Obama administration and I must say that I’m struck by what an utterly ignorant and misinformed picture he paints.
First of all, all of those “promises” were made BEFORE anyone realized how deep the recession would be and BEFORE the Obama was saddled with a $1.3 trillion deficit from George W. that, of course, the Republicans blame on him.
President Obama ha’s done everything possible to keep his promises but Republicans and conservative have put roadblocks at every turn. It’s a known, admitted, and documented fact that they made a decision on the day of his inauguration that their “path back to power” meant making sure the President (and the congress) accomplished nothing.
Still, even within those limitations, President Obama has:
- Put an emphasis on education and put in place policies to make our schools better, more effective, and more efficient.
- Increased investment in “future” technologies – like renewable energy
- Presided over the lowest taxing levels for middle-class Americans in 50 years
- Put together a plan that pulled the banking sector back from the edge of the cliff, strengthening it with new regulations (like increased reserve requirements). The plan worked so well that banks are back to making money hand over fist.
- Passed a healthcare law that addresses our nation’s 30 million uninsured, provides more equity for those who are insured, extends the life of Medicare for our elderly, and is not only revenue neutral but the CBO says it should DECREASE THE DEFICIT by more than $100 billion over 10 years.
And the MOST important argument against this drivel is what Romney-Ryan will do to “stimulate” the economy. Their strategy is simply to:
- Cut taxes for corporations and the wealthy
- Cut government programs that don’t benefit corporations and the wealthy (like education, Medicare, Medicaid, R&D, funding to states for police and firefighters, etc.)
- Cut regulations that give a free reign to corporations and the wealthy
But, tell me this… if taxes already lower than they’ve ever been and corporate profits and incomes from the top 10% are already higher than they’ve ever been, and if low taxes and high incomes for corporations and the wealthy actually stimulate the economy then why aren’t things ALREADY booming? Yeah, I thought so.
If Republicans and conservatives would stop lying about Obama’s record and start working for the 99% instead of being b@tches for the 1%, this country could get back on its feet and start moving forward.
See Also:
Unethical Commentary, Newsweek Edition
Niall Ferguson Publishes Embarrassing Defense Of Newsweek Article