Al Franken extends Obama's car metaphor
Obama is being blamed for George Bush’s economy, as Al Franken humorously explains:
When the president took office not only had the car gone into a ditch but the car had flipped over and was rolling down a steep embankment. We, the American people, were in the back seat and the Bush administration had removed all the seat belts. So we were all flying around the interior of this car, as it was rolling and flipping and careening down this steep embankment heading to …a 2,000-foot cliff. And at the bottom of that cliff were jagged rocks and alligators.
Now at noon on January 20th, 2009 as the car was careening toward the cliff, George W. Bush jumped out of the car. President Bush jumped out of the car and President Obama somehow managed to dive in through the window, take the wheel, get control of the vehicle, just inches before it went over the precipice. And he and Congress starting inching this wrecked (car) back up the embankment.
Now, you can’t push a car up an embankment as fast as it careens down an embankment. But we got it going in the right direction and slowly we’ve gotten ourselves up that embankment, pas[t] the ditch, up on the shoulder of the road.
Don’t agree with the analogy? Former President George W. Bush apparently does:
When a member of the audience asked why he had signed off on the bailout of major financial institutions, Bush said he took that action after his economic advisors, Henry Paulson, the former treasury secretary, and Ben Bernanke, the current head of the Federal Reserve, urged him to do so.
“I did not want to be a president overseeing a depression greater than the Great Depression,” Bush said.
I’m disgusted by the trillions of dollars the Federal Reserve and the Obama Administration gave to big banks and the minimal help they gave to states, towns and ordinary Americans. But blaming Obama for our burst-bubble economy is stupid. Things would possibly be better if they had allowed some big banks to fail. But it’s not Obama’s problem that the banks and real estate — two giant economic motors — were broken when he took office.
Posted by James on Monday, October 25, 2010