Compare the US recession to other nations and it’s clear Obama did not “fail”

in Uncategorized by

Jonathan Chait compares the US recession to other financial crises:

I think that comparison has flaws of its own. But surely it tells us something — it tells us that Obama’s boast that we avoided total disaster is not meaningless. The steps the administration and the Federal Reserve undertook in face of the recession — quantitative easing, some degree of fiscal stimulus, banking bailouts, reorganizing the auto industry rather than letting it collapse in the face of frozen credit markets — prevented the kinds of total disaster that are the norm in the face of this kind of crisis.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including,,, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.