I thought President Obama gave a good speech last night. My feeling is that he needs to be more vocal and out in public more often. He should do more press conferences all in an effort to engage and inform the American public.
By staying silent he has seen his approval numbers drop and Republicans have created a narrative that the American people are starting to believe.
President Bush nationalized Fannie Mae, Freddie Mac, GM, Chrysler, and AIG. It was President Bush that created the TARP and provided the bank bailouts. He left behind an economy in shambles with GDP shrinking by almost 6 percent and unemployment rising. In January 2009 when Obama took office, the U.S. lost 750,000 jobs that month. As a result of the Bush tax cuts, the reckless spending on two wars, and the Medicare Part D program that he implemented without paying for, Obama walked into a $1.2 trillion budget deficit for FY 2009.
The $787 billion stimulus package that Obama championed included $287 billion in tax cuts that help 95 percent of Americans this year. Now we have seen a remarkable turnaround in the economy. We see GDP growing slightly and job losses seem to have stopped over the last two months. We should see improvement this year. The consensus view by economists is that the stimulus package saved about 2 million jobs. The U.S. is recovering and we will see unemployment shrink over the course of the year.
Those are veriable facts, but the Republicans want to take the country back to the policies that caused our problems. President Obama has to remind Americans every day of the facts and make his case. Hopefully he will do that in coming weeks and months.