Forces That Stopped Obama Recovery Will Not Stop Biden

[DonViejo]

February 8, 2021 at 9:08 am EST By Taegan Goddard

Jonathan Chait: “Joe Biden assumed the presidency confronting an economic crisis reminiscent of the one that faced him when he and Barack Obama took office 12 years earlier. But it is already apparent that the political atmosphere surrounding Biden is unrecognizable. He enjoys freedom of action and a presumptive legitimacy in tackling the crisis that had been denied the last Democratic presidency. Every actor around him — the Republican opposition, business, the mainstream media, and Democrats in Congress — are behaving differently. It’s as if he’s the president of a completely different country than the one that existed in 2009.”

“This is not because the present crisis is more severe. Just the opposite: The deepest and darkest moment of the contraction has passed, and the question before the economy now is how rapidly it can return to health. A dozen years ago, the economy was plunging so rapidly nobody could even measure the speed of the collapse, let alone discern a bottom.”

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https://politicalwire.com/2021/02/08/forces-that-stopped-obama-recovery-will-not-stop-biden/