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Friday, November 07, 2008

Obama's "Inheritance"

Expect to hear about this every day for the next year, because it has already begun. Obama has inherited a horrible economy and y'know, it's not his fault because like I said, he "inherited" a horrible economy, which was none of his doing. Forget the fact that he has been the top democratic Senator over the past four years. Also forget that he has always championed banks making loans to the poor, which is the source of the banks' problems. Further forget that 2 of Obama's top advisors were CEO and President of Fannie Mae. Lastly, please forget that Obama is the number 1 recipient of donations from Fannie Mae. He cannot be held accountable.

If we go back 8 years to the economy that GW Bush inherited. Also pretty bad. The worst since the 1970's. Obama's equally the worst since the 1970's. So the media has given them both a free pass, right? Wrong. Do this for me:

Google this: BUSH INHERIT BAD ECONOMY 2001. 78,700 references. Now google: OBAMA INHERIT BAD ECONOMY 2008: number of hits?: 344,000. Yes almost 5x as many, and Obama has only been president for 2 days. Bush accumulated all those references over an entire year, or arguably over 8 years!

The press is already giving Obama a free ride for the poor economy. Should they? Yes and no. He alone is not responsible for the economy. I agree with this. But he was also the top democratic senator for 4 years. He shouldn't be held blameless especially because of his relationship with Fannie Mae execs. Bush, on the other hand, was assigned blame by about 95% of the media for the 1996-2000 internet bubble and its after-effects while he entered the Presidency in 2001. I suppose life isn't fair (unless you're a democrat).

My point: GET USED TO IT. The press is prepared to give Obama a free pass, probably for all of 2009.