Economic recovery not a fast process

Letter to the Editor

Comparing the current economic situation of our nation to the Great Depression, I wonder how fully we have fallen prey to instant gratification.

Many blame President Obama for not fixing the economy after its plunge in 2008, four years ago. However, after the stock market crash of 1929, the U.S. didn’t fully recover for more than 10 years, after we started gearing up for WWII and Franklin Roosevelt was into his third term as president. Is it fair to blame Obama for not accomplishing in one term what Roosevelt couldn’t completely finish in two? (Roosevelt was eventually elected to a fourth term, but died shortly into it in 1945. Since then the Constitution was amended to limit presidents to two terms.)

Many citizens today were not alive when Democrat Roosevelt fought to right the country’s economic ship. Like Obama, he had determined Republican opponents. But our 44th president has the challenges of the 24-hour a day news cycle full of partisan blather, the Internet dispensing misinformation and outright lies, the judicial Citizens United ruling granting personal free speech rights to high-spending corporate entities, and an ideological gridlock in Washington that might have even FDR shaking his head in awe.

In the Nov. 2 edition of The Herald under the “Markets” briefs section, there were eight different headlines about positive signs in various segments of the economy. But, I guess slow, long-term improvement is hard to endure in a society where we can communicate halfway around the globe in an instant on a device that fits in the palm of our hands. We get from candidates what we apparently prefer: nifty, sloganized, attack sound bites and flip-flopping to satisfy different constituencies instead of detailed proposals based on truth and solid principles.




msa651 2 years, 11 months ago

Sorry, don't buy what you are saying. This is the slowest recovery since the great depression and I've lived through quite a few. You might get out and talk to the small business owners and ask they what is keeping them back. I've spoken with more than 50 over the last few weeks and quite a few more at the Chamber banquet last night. Many will not be here in the next few years if things don't get better.

If you listen, you will hear a common recurring theme. Most of the problems, come from our own government, and because of it, expect years more of hard times. At the current rate of progress, we've got 10 years before we can expect a semblance of recovery.


waltspecht 2 years, 11 months ago

Our Government is using rules and regulations to generate jobs, revenue and hardship for Business. There is a differance in looking out for the enviornment and creating a Governemnt entity to syphon off funds from Business. If these things are so important to the World, then we should refuse to aallow any other Countries products to enter our Country without total compliance to our standards in their manufacture.


chinaberry25 2 years, 10 months ago

Why not?? Reagan managed it in less than 2 years. It is just more of the BS Obama used to spout off. Now he has brainwashed you about his lack of success. You cannot rob Peter to pay Paul.


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