You Didn’t Build That « azizonomics

Those Freudian slips are a real PITA for this President. Keep 'em coming Chief!!

You Didn’t Build That « azizonomics:

"Obama:

If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business–you didn’t build that. Somebody else made that happen. The internet didn’t get invented on its own. Government research created the internet so that all the companies could make money off the internet.

Much of the blogosphere — especially the liberal fringes — has defended Obama’s statement, along one of two lines:

That Obama didn’t mean that business-owners didn’t build their businesses — he was talking about infrastructure creation and the wider economic, legal and political system.
That Obama is right, and businesses owners are really not responsible for building their businesses.
Both of these arguments are nonsensical."

'via Blog this'

So it seems like the Re-distributor in Chief had another "Freudian slip", Joe the Plumber moment and the election may hinge on whether you believe in the so-called "Top-Down", "Trickle Down" economics (which worked pretty well for Reagan / Volcker -- who BTW, "inherited" a far worse economy from Jimmy Carter. 

At least under Reagan, we had some semblance of a recovery from the "Misery Index" years of Carter. Lately it seems as if everyone is all to willing to give credit for this Reagan recovery to President Clinton of all people, the guy who planted many of the seeds for the current disaster) or maybe we would rather have the current iteration of "Bottom-Up" economics espoused by Obama. 

This seems to be where we are heading IMO as well.

It really seems as if rather than debating whether Obama is as "great" a President as Reagan or Roosevelt, the debate more likely may eventually revolve around whether he ends up being considered "worse" than Carter or Nixon.

from wikipedia.com:

Misery index - era by U.S president

Index = Unemployment rate + Inflation rate

President	Time Period	Average	Low	High	Start	End	Change
Harry Truman	1948–1952	7.88	3.45 – Dec 1952	13.63 – Jan 1948	13.63	3.45	-10.18
Dwight D. Eisenhower	1953–1960	6.26	2.97 – Jul 1953	10.98 – Apr 1958	3.28	7.96	+4.68
John F. Kennedy	1961–1962	7.14	6.40 – Jul 1962	8.38 – Jul 1961	8.31	6.82	-1.49
Lyndon B. Johnson	1963–1968	6.77	5.70 – Nov 1965	8.19 – Jul 1968	7.02	8.12	+1.10
Richard Nixon	1969–1974	10.57	7.80 – Jan 1969	17.01 – Jul 1974	7.80	17.01	+9.21
Gerald Ford	1974–1976	16.00	12.66 – Dec 1976	19.90 – Jan 1975	16.36	12.66	-3.70
Jimmy Carter	1977–1980	16.26	12.60 – Apr 1978	21.98 – Jun 1980	12.72	19.72	+7.00
Ronald Reagan	1981–1988	12.19	7.70 – Dec 1986	19.33 – Jan 1981	19.33	9.72	-9.61
George H. W. Bush	1989–1992	10.68	9.64 – Sep 1989	12.47 – Nov 1990	10.07	10.30	+0.23
Bill Clinton	1993–2000	7.80	5.74 – Apr 1998	10.56 – Jan 1993	10.56	7.29	-3.27
George W. Bush	2001–2008	8.11	5.71 – Oct 2006	11.47 – Aug 2008	7.93	7.49	-0.44
Barack Obama	2009–Present Incomplete data Data updated through May 2012	10.75	7.30 – July 2009 index offset by negative inflation (-2.10)	12.97 – September 2011	7.73	9.9	+2.17

^[4]

[edit]Misery and crime

Some economists posit that the components of the Misery Index drive the crime rate to a degree. Using data from 1960 to 2005, they have found that the Misery Index and the crime rate correlate strongly and that the Misery Index seems to lead the crime rate by a year or so.^[5] In fact, the correlation is so strong that the two can be said to be cointegrated, and stronger than correlation with either the unemployment rate or inflation rate alone