Conservatives have one tool to control the economy: interest rates, Those rates were run into the ground early in the last decade. That left the Republican administration and their allies with no option but magical thinking “thing will improve-they always do.” Republicans, the party of “deregulation” let the Wall Street Bull go tearing through the streets without oversight.
Republicans claim to be the party of fiscal responsibility, but the hated Clinton Administration reduced deficit spending. Deficit spending increased under the “Conservative” President George Bush, just as it had under Reagan before him.
The new, post-neo-conservative teabaggers have turned away from their “birther” rants, to howl about the ratty state of the economy. They conveniently forget that a credit gridlock was avoided, a depression was avoided by quick action of the new administration. The slow jobs recovery is painful, but look at the jobs chart below. Job loss (red) increased under the conservatives. Blue represents the job growth in the last year. UPDATE: Read more about what the chart means.
May Job Growth
previous chart
