Reply #13: There's actually so much wrong with this "analysis" it's not even funny. [View All]

[Zynx]

For one, Obama did not easily win the nomination. For another Hoover had executive experience as Commerce Secretary and was widely viewed as being among the foremost economic thinkers of the time.

Obama's response was not primarily to aid the banks. The stimulus bill is bigger than TARP and a large segment of TARP has now been paid back so that the net cost of TARP is heavily reduced. Other portions of TARP helped to save hundreds of thousands of auto jobs. Obama's stimulus bill has already been analyzed by the non-partisan CBO to have created or saved as much as 1% of the labor force with only one third spent.

There is no consensus view that Obama is headed toward defeat. At a similar point of his presidency it would have been much easier to hit Reagan with the Hoover label. At a similar point into his economic program, the economy was still cratering. Ours is now growing.

The parallels in nearly no way exist than they do with nearly any other president.