Letters to the Editor

ECONOMY: US prospers under this administration

Re: “Obama’s policies are clunkers” (letter, 9-6).

As a thinking observer of our recent history, I cannot remain silent about the letter writer’s unsubstantiated observations about the Obama administration. It is far from a loser as he would have readers believe.

The Obama administration ushered in the third longest bull market in U.S. history with the Dow Jones Industrial Average increasing from 7,949 on his inauguration day to 16,102 at Friday’s close (and trips above 18,000 in between). Unemployment has dropped from 7.8 to 5.0 percent during his terms. Total non-farm employment has increased by nine million jobs.

At the same time the debt has increased, but it has done so by a steadily declining rate. The last Bush budget was out of balance by $1.4 trillion while this year’s deficit will be $426 billion – less than one-third of that 2009 figure.

That “silly” stimulus policy saved the country’s auto industry and kept the economy from tanking entirely.

And suggesting that a new “winning America” can be engineered in days is laughable. The writer certainly has his right to his opinion. I just wish it was based on facts.