In stark contrast to a story last week that painted President Fanklin Roosevelt as the greatest U.S. President of all time, a story in today’s Washington Post asks if President Obama isn’t perhaps following in the same economic missteps that FDR took in the mid to late 1930’s.
By fixating on the debt and stimulus plans, Obama and Congress are overlooking challenges to the economy from taxes, employment and the entrepreneurial environment. President Roosevelt’s great error was to ignore such factors — and the result was that sickening double dip.
Ah, yes, the infamous double dip. Good when in reference to ice cream consumption, but scary when mentioned in regards to economic patterns. It’s too bad that the author completely shrugs off the fact that the inability of President Obama and Congress to correctly deal with the debt that our nation holds is the poison that continues to strangle our economy. Economic strategist, and candidate for U.S. Senate in Connecticut, Peter Schiff explains why double dips happen in the first place in this video from December ’09.