Quote (Thor123422 @ 26 Jun 2020 22:42)
I don't agree that this is a challenge unique to Trump. Bush had 9/11 and the wars, Obama came in during an economic meltdown and an economy that was still far below the day he took office, Clinton had an impeachment, etc. etc.
Bad examples. If we're being honest, 9/11 was a crisis where the president couldnt do too much wrong in the short term, and it was never a crisis that threatened to lead to widespread impoverishment or civil unrest. Aside form calling for pogroms against muslims in the immediate aftermath of the attack, the only possible mistake the president could make in reaction to 9/11 was drawing the wrong geopolitical conclusions, which the Bush administration did.
Clinton's impeachment was a crisis he had brought upon himself. Completely misguided to compare it with 9/11 or corona. Obama was faced with a huge economic crisis, yes, but it was still much smaller in scope than the economic impact of coronavirus:
And even more importantly, the great recession was a crisis that the country and the world could just print their way out of. By contrast, with corona, throwing cash at the problem doesnt work. In fact, nothing short of a vaccine or efficient medication can really solve this problem. And coming up with these is something that neither the president nor Congress can do; they cant even do too much to speed the process up. Trump, McConnell, Pelosi, Schumer, Biden - from a macro perspective, they are all essentially powerless when it comes to the economic impact of the pandemic.
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Similarly, the economic downturn was partially his own doing. He cut taxes to boost an already strong economy when he should have saved that kind of thing for when it was needed. He got the benefit of the tax cut early in his presidency and as a result the fall was that much harder.
Big disagree. Tax cuts would have done fuck all for the economy when the economy has to be shut down artificially by the state. The tax cuts were a mistake, at least the way they were constructed (too much of the cuts going to the rich, too little to the middle class), but they have in fact not interacted with the corona crisis yet. The tax cuts might come back to haunt us
if the blown deficit spirals out of control and the markets lose confidence. But we're definitely not at this point yet (the USD is actually appreciating relative to almost all other currencies right now), and it's far from a foregone conclusion that this scenario ever materializes.
This post was edited by Black XistenZ on Jun 26 2020 03:23pm