The Case for Obama, Part 1: These "hard" economic times

There are two things I'm sick and tired of hearing about.  The first is that Obama and the Democrats are strong with voters on social issues, whilst Romney and the Republicans have the edge on economic and fiscal matters. In a word? BALONEY SAUSAGE. I've written plenty of posts in the past showing just how mush better things are under Democrats on purely economic terms, and [and this is the other thing I'm sick of hearing] "these hard economic times" are no different.  And don't expect the mainstream media to tell you any of this, but the fact is? Times ain't so bad. In fact, well... I'll let the data do the talking.

Exhibit A: The Dow Jones Industrial Average.  Generally considered one of the best indicators of overall economic health in this country.  Now, to put in context just what a wet, steaming pile of bullshit it is that people are talking about Obama like (1) he's done anything wrong, (2) that there IS actually anything wrong, and (3) that [even though it isn't wrong] it's all his fault, I want to start back a bit, to when George W. Bush took office, just to remind everyone what a shitty stock market REALLY looks like.  This is the DJIA from Inauguration day, 2001 to Election Day, 2004 (From Yahoo Finance):

Bottom line? DOWN 5.13%.  DOWN. Over FOUR YEARS! And that asshole got re-elected despite that!  Of course we all know how his second term fared.  Here's Election day, 2004 to Election day 2008:

Down 13.9%! And Conservatives wonder why Obama got elected? Conservatives are still trying to  argue that OBAMA destroyed the economy?! The DOW was down 13.9% in the four years since we reelected the guy under whom it had all ready fallen 5.13%!  Here's Bush's eight year term, Inauguration Day, 2001 to Inauguration Day, 2009:

Wow. DOWN 24.23%. Way to go, Georgie! Here's what's happened since Obama took office:

BOOM! UP! UP! UP! 66.4%! Wow! Now... I don't want anyone to get the idea that I think the President is directly, 100% responsible for the stock market, but... Let's not forget that the guys who are whining about "these hard economic times" are the guys who (1) got re-election after a 5% decline, and (2) were down over 24% by the time they were done.  And we're up 66% right now and I'm supposed to believe that it's THE OTHER GUYS who have the economic wherewithal?  Bullshit. According to the DJIA, Obama's done roughly three times the good in under four years than the amount of harm down by George W. Bush in EIGHT. 

Well, maybe the DJIA has a Liberal bias or something. I wonder what the S & P 500 looked like during Bush's first term:

Whoa. Down 13.16%. How the hell did that redneck get re-elected?! Is anyone goimng to seriously tell me that there's Liberal Bias in the media?!  Where was it in 2004?  Oh, and uh... How's things go the second time around?

Oh my God! DOWN 21.38%!  Almost as bad as the DOW. And people say Obama's presiding over a bad economy?!  Here was Shrub's eight year performance on the S & P:

Down 38.6%. Holy. Fucking. Shit. And since Obama took office?

And BOOM GOES THE DYNAMITE! UP SEVENTY FOUR POINT TWO-EIGHT PERCENT! Oh, yeah: Let's get rid of this guy!

The NASDAQ tells the same story:

Down 28.03%. That in just his first term folks! Can someone PLEASE tell me how John Kerry didn't beat this ass-clown in a LANDSLIDE?  Liberal Media, my hairy, unwashed ass!

Second time around:

Down another 19.2%. And they wonder why the lost. Must have been that Liberally biased STOCK MARKET. 

Overall, our roughly fifth worst President of all time managed to take a whopping 46.88% out of the NASDAQ during his tenure. Remember: This was the guy who mocked Al Gore's legislation that created the Internet.  OK, so how's the NASDAQ doing under Obama?

Up... One-Hundred... and... Thirteen... Percent.  Holy... Fucking... Shit... (I should have bought more!)  And really, to show how skull-fuckingly stupid (or just plain screwed) the Republicans are here, they keep trying to disappear George W. Bush's UTTER ECONOMIC FAILURES, every time Obama reminds people how bad things were under Bush. Thing is? The main reason that Obama's stock market has been as good as it was, is because it started in such a deep, dark hole! Saying that he came in essentially just at the right time, would be the easiest way for the Republicans to poo-poo his success. But, of course, they can't say THAT, because (1) they'd have to actually ACKNOWLEDGE his success, and admit that he also did the right things, and (2) they'd have to acknowledge Bush's FAILURE.

And... it's just easier for them to lie about it.  None of the Conservatively biased Mainstream Media is going to break from the narrative that the Right's strength is economics, (note: it isn't. they have no strengths) nor call out Fox News for going above and beyond in the field of outright deceit and propaganda.

OK, so admittedly the Stock Market MIGHT not be the best measure. (That sure was FUN for me to go through though, let me tell you!)  How about the GDP? Well, here's a chart:

It's from this article. My favorite part of which is the following line:

The average growth rate in private real quarterly GDP since 2000 has been 1.76%, so the private sector of the U.S. economy expanded in the first quarter of 2012 at twice the average rate over the last 12 years

I keep hearing about how slow, and sluggish and disappointing that 2.2% rate is, but "double the rate of the last twelve years?!" Seems like we're doing just fine in that regard as well.  BTW, you see those RED LINES?  Well, the Conservative Toadies in the Mainstream media won't tell you this, but... those are REDUCTIONS in Government Spending. And contrary to what the Macroeconomic Failures who drew up the Paul Ryan Budget will tell you: That's a drag on the economy.  So, if you think Obama should be doing more (meaning SPENDING more?) I'd agree with you 100%.  But that criticism sure as hell isn't a reason to vote Republican! And if you think he should cut more? Then you're either a Billionaire or an idiot who doesn't understand how economics works and will be out a job sooner than he thinks.

Speaking of which, unemployment is becoming so much NOT A PROBLEM, that Fox News has gone so far as to allege a conspiracy over the numbers!  Sarah Palin even questioned their accuracy!  Eric Bolling again accused the BLS of being partisan! Imagine the gall it takes, for a guy on FOX NEWS to accuse the BLS of partisan bias!  There should have been a quantum singularity forming in his crotch due to the gravity created by his massively HUGE BALLS.

Here's an unemployment chart that ought to get Obama re-elected:

Wow. Again what do we see? Things getting worse and worse and worse under Bush... And things getting better and better and batter, and the staying in the green under Obama.

Now, I'm going to look at energy and gas prices next, and I've never been shy about delving into social issues myself, but on a purely economic basis? Everything got worse under Bush, and everything has gotten better under Obama.  That not my opinion: That's what the data says. It's not a "liberal talking point" either: It's MATH.

If anyone needs a quick reference here you go:

As of 4/29/2012:

DJIA:
When Bush got re-elected: DOWN, -5.13%
Bush's Presidency: DOWN, -24.23%
Under Obama: UP, 66.4%

S&P 500:
When Bush got re-elected: DOWN, -13.16%
Bush's Presidency: DOWN, -38.6%
Under Obama: UP, 74.28%

NASDAQ:
When Bush got re-elected: DOWN, -28.03%
Bush's Presidency: DOWN, -46.88%
Under Obama: UP, 113.05%

I'm still stunned by this. Can you imagine what they'd be saying about Obama's economy if his markets had George Bush's returns?  Oh, yeah, but Bush gets re-elected after net first-term losses, and the so-called 'Liberal' media media keeps up the narrative that Republicans know their asses from their elbows when it comes to the economy.

One final note, regarding the millions of people still trying to find work.  In no way is my post here implying that your plight is not real. You're out of work. And no amount of economic data is going to put food on your table. (Of course... the Republicans want to kill anything that WILL do that as well.) The point here is WHY. WHY are there are so many unemployed people? And WHO, WHO is going to make things better and who will make them worst? History says the Republicans will make it worse. They're the ones who MADE IT BAD in the first place. And AUSTERITY won't fix anything. Obama has been embracing Austerity at an astounding rate, mainly to appease the Right, and it is the number one thing HAMPERING our economic recovery.  The Right will only give you more of he only thing Obama actually IS doing wrong economically. And that's not my opinion, or mere conjecture. I KNOW this because they've promised as much.  That's what massive SPENDING CUTS will do folks: Kill the economy. DO NOT give the Republicans this chance!