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"A comprehensive, collaborative elections resource."
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Herbert Hoover, Barack Obama and a Banana Republic
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Candidate
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| Contributor | Jason |
| Last Edited | Jason Oct 10, 2010 10:37pm |
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| Category | Analysis |
| News Date | Monday, October 11, 2010 04:00:00 AM UTC0:0 |
| Description | Less than two years under President Barack Obama's leadership, America is emerging from the serious financial crisis begun under President Bush.
Voters will soon decide if Obama's prescriptions for economic recovery justify staying the course or if America should shift 180 degrees to alternative GOP solutions contained in the Republicans' "Pledge to America."
The pledge is basically a rehash of failed Bush policies, which allowed rampant Wall Street abuses, promoted a rush to a needless war and produced a damaging recession.
The Republican pledge, according to Nobel laureate and respected economist Paul Krugman, makes permanent tax cuts for millionaires and billionaires, thus "adding $3.7 trillion to the federal debt over the next decade." Krugman says the GOP position is: "Deficits are a terrible thing. Let's make them much bigger."
Today's nasty political climate reminds one of 1932, when more than 10,000 banks failed, unemployment reached 25 percent and GDP fell almost 50 percent. President Herbert Hoover, campaigning for a second term, was met by hostile crowds and threats on his life. Eggs and rotten fruit were thrown at him by disgruntled Americans whose rage was not unlike that of 2010's often raucous tea party members and addled birthers. |
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