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View Diary: Obama vows to work for middle-class economic security in weekly address (144 comments)

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  •  The proper comparison is off-year to off-year (0+ / 0-)

    Many fewer people of all kinds vote in elections that occur in years when there is no presidential election. 1 million extra liberals showed up in 2010. It wasn't enough.

    As for the results, I know in great detail what they were. A few of the Obama achievements in the link you provide were popular. Many were either not known about or were actually unpopular.

    The mortgage plan was an embarrassing and expensive failure--except for the banks. For the amount of money he spent, we could have paid a $10,000 a year mortgage payment for 2.5 million mortgage holders for three years, thereby preventing most of the foreclosures.

    The total enumerated spending on poverty in the link you provide is about $35B. In the greatest financial crisis since the Great Depression, poverty gets 5% of the stimulus money.

    Should we should count more Food Stamps and unemployment benefits as an accomplishment? Sure, it's better than letting people starve, but the return of jobs was slower than in any other crisis, and that is because so little of the stimulus (about 15% according to the chart) was devoted to infrastructure.  

    Of the health care reforms, the ones that matter the most to people had not phased in by the time of the election (See here for the precise timeline). This is because the Democrats allowed a 1-year delay to reform.

    Of the stimulus bill, only a fraction was direct assistance to potential swing voters. $70B in Alternative Minimum Tax relief did not win many votes. By contrast, only $5B went to poor families through the EITC. Most of the stimulus did not stimulate. The tax rebates were mostly saved and, unfortunately, most people did not connect the rebate checks they received to the stimulus.    

    Dodd-Frank hasn't even been implemented yet. When it is, the risks to the financial system will remain.

    Race to the Top is regarded as a negative by many teachers and, indeed by the NAACP. It probably lost votes.

    The additional money for veterans care was not matched by the administrative ability to deliver it. And so on.

    The list of achievements would have been fine in normal times. But with U-6 unemployment hitting 17%--about 2/3 of what it was in the Great Depression-- the stimulus was pathetically inadequate.  

    •  Dodd-Frank hasn't even been implemented yet. (0+ / 0-)

      That simply isn't true. While many provisions and rules have yet to be finalized(for various reasons) the law is in effect, most notably the Consumer Financial Protection Bureau, the brainchild of Senator Warren. And while it doesn't go as far as some would like, given the political climate and the prospect of getting a more robust bill passed in Congress, it's a step in the right direction.

      •  Ridiculous (0+ / 0-)

        According to the Washington Post, as of early June, just 38% of the rules required to Dodd-Frank have been implemented vs. the 70% that should have been done:

        What happened to the other 245 rules? Well, 117 have been proposed but not finalized. But 128 haven’t even been proposed yet. More concerning still, regulations around banking, asset-backed securities, and “liquidation authority” — perhaps the regulations most directly related to the causes of the 2007-08 crisis and bailout — are particularly slow in being implemented
        38% is a lot closer to "not implemented" than to "implemented." Something that is "not implemented" is not going to prevent any crisis, much less the crises it was designed to prevent.

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