Letter: Obama hasn’t fixed Bush recession - East Valley Tribune: Opinion

Letter: Obama hasn’t fixed Bush recession

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Posted: Tuesday, June 26, 2012 5:59 am

Mr. Ricker (The Inbox, June 17) is correct that to judge anything one needs a benchmark. Since the Great Depression there have been multiple recessions. If one compares the recoveries from these recessions, the (recovery) from the 2007-2009 Recession has been the slowest. It has lasted longer and has produced fewer jobs than any recovery since the Great Depression. One can quibble over statistics, but the fact remains that the Obama Administration’s handling of the (Bush) recession has been inept, frequently counterproductive and wasteful of taxpayer money. To give Mr. Obama four more years to continue his policies that have given us the slowest recovery in 70 years would be foolish and dangerous.

I was pleased to see that Mr. Ricker is looking across the Atlantic. It’s that old saw: experience is learning from your own mistakes, while wisdom is learning from the mistakes of others. Instructively, there are examples of financial crisis occurring in Europe that we should not ignore. It is critical that this country not follow the same policies of unrestrained deficit spending, all encompassing welfare benefits, over taxation and over regulation that has many European Union countries on an unsustainable economic path. We are not immune from the economic forces that are currently affecting the EU.

William Zipperer


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