General Discussion
In reply to the discussion: The Bush Created Economic Abyss Obama Pulled America Out Of Was Deep, THIS Deep: [View all]okaawhatever
(9,565 posts)manufacturers. Like it or not, that helped the auto workers and manufacturing base. PBO fought for an extension to the SS tax cut that put an extra $1500 in the pocket of the average American. There are other things, but saying that what PBO did helped the 1% isn't true. There are policies still in effect going back to Reagan that help them. PBO fought hard for tax increases to the 1%. Not only has the cap gains tax gone back up to 20%, the upper tax limit went from 35 to 39. There is also now a medicare tax on high earners of 3.9% without cap on a lot of it. That is what is helping pay for the tax credits and other proposals in the ACA.
Just because the recovery hasn't helped the bottom 80% as much as the others doesn't mean that it's PBO's fault. Mostly it's the fault of Congress for not passing more measures to stimulate the economy. The Republicans know that a strong economy in 2014 or 2016 kills their chances of reelection. That is why they are working so hard to slow the recovery. They stand no chance if the economy rebounds. Remember Clinton's "It's the economy, stupid"? Every politician out there knows that good economic times mean an incumbent party gets reelected and the Republicans are fighting hard to make sure that doesn't happen. A full recovery for the 80% is the kiss of death for the Republican party.
The recovery is going slowly but surely. Even if people all go back to work we have to fight against the minimum wage, labor laws, and other things to benefit the middle class. This isn't just a one person job (the President). I know it's discouraging but remember that all data shows a slow but sure recovery. The only thing to really jump start it will be stimulus bills passed through Congress, an increase in minimum wage and other legislation that quite frankly is in the hands of Congress right now. Don't give up, I know you're tired and angry. We all are. Just remember the victories and the future. They're both better than they seem.