If Ronald Reagan could shout with pride about... - News, Politics and ...

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Economic History of the Reagan Presidency :

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HuffPost, Paul Abrams ( a biotech scientist and oncologist ) strongly condemns Mitt Romney and Paul Ryan for their disrespect and hatred against President Obama, and their ultra lunatic policies to sink the American Economy. He sees a lot of Racism in the GOP :

Huffington Post
If 7.4 Percent Was 'Morning Again in America,' Why Is 7.8 Not 'Sunrise?'
October 7, 2012

By Paul Abrams

Paul Abrams, M.D., J.D., is an entrepreneur who is currently a consultant in biotechnology, and chairs a bioremediation company. He was formerly President, CEO and Director of one publicly- traded, and another privately-held, biotechnology company, inventor on 12 US patents, co-editor of two scientific books and has published more than 35 peer-reviewed articles. He has been contributor to several journals on issues facing the biotechnology industry and entrepreneurs, an invited speaker at trade and financial conferences, and has testified before Congress on these matters.

He serves as a Board member of the Washington Progress Alliance, the Women's Bioethics Project, the Apollo Alliance (Washington State) and the Economic Opportunity Institute.

He received doctorate degrees in medicine and in law, and a B.A.summa cum laude in Political Science & Economics, all from Yale University. He is a board-certified oncologist and was editor of the Yale Law Journal.

If 7.4 Percent Was 'Morning Again in America,' Why Is 7.8 Not 'Sunrise?'

Some excerpts :

Reagan's recession was comparatively simple to resolve because it did not have many "moving parts". It had been deliberately inflicted by the Federal Reserve raising interest rates to tame inflation. Lower those interest rates, engage in deficit spending, invest more in the military--and presto(!), unemployment begins to recede. (Remember, military spending is the only government spending that one is allowed to say creates jobs). Nonetheless, the recession Reagan presided over caused unemployment to go to 10.8 percent.

Compare President Obama's challenges. With interest rates already effectively zero so there was no handle to turn, he was handed the mess the Bush administration helped to create: a worldwide collapse of the financial markets, a collapse of the housing market, an auto industry about to go bankrupt, GDP had nose-dived by 8.9 percent in the quarter before President Obama assumed office, and we were losing 800,000 jobs/month... and what is the unemployment rate now? A mere 0.4 percent higher than it was under Reagan, and it never exceeded 10 percent.

President Obama has been the subject of continuous, vile, disgusting attacks from the right-wing. Having passed the Heritage Foundation's health care plan, he is labeled a socialist. The racial innuendos make one vomit. The disdain with which those who have been handed their world on a silver platter have for this example of the American dream is about as anti-American as it gets.

With dignity and perseverance, President Obama has kept his focus, kept his cool, and kept steering the country toward a better day. I do not agree with everything he has done, and have not been shy at voicing my differences. I did that when I thought that, if somehow the sentiment expressed took hold, there might be some favorable impact.

But, when those exhortations and critiques become not only fruitless because of timing, but also quench enthusiasm and celebration for some real success that needs to be continued, they become self-defeating.

That quenched enthusiasm has prevented the excellent results from triggering a momentum shift back to the President, and thus may hand Romney the keys to the White House.

Whatever needs to be done will certainly not happen in a Romney-Ryan Administration. Everything they propose, everything, will make all of our lives worse. If you thought 1937 were a bad policy mistake by FDR (and it was), cutting spending and the deficit because he thought we had come out of the Depression, just wait until the "cut, cap and balance" pledge is enforced -- Romney signed it, and the next leader of the Senate, Jim DeMint (R-SC), will insist upon it.

Make no mistake: the right sees this as an opportunity to dismantle not only President Obama's progress, but virtually all of the policies and institutions of the Great Society and the New Deal, not because they "don't work" (indeed, they do, and that is what really bothers them), but because they are foreign to their ideology, and the priorities of their paymasters. The Koch boys and their fellow travelers have not invested hundreds of millions of dollars to buy some minor tinkering.

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Raciality.com

Vicente Duque

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