The Dow is over 15,000 and continually testing new highs. The unemployment rate and unemployment claims are at lows that haven’t been seen since before the economic crisis of 2008. If Mitt Romney were president, Republicans would be hailing him as the new Reagan with a better dye job.
Yet a right-wing group is suggesting that President Obama should be impeached for wrecking the stock market and slowing job growth.
The truth is that the Republican Party made a conscious decision to slow the economic recovery the moment the president took office. “After three hours of strategizing, they decided they needed to fight Obama on everything,” PBS’ Frontline reported.
To deny Obama a second term, they knew they had to slow the recovery. And their plan worked in 2010. The unemployment rate was rising as the GOP swept to the largest congressional landslide in the last half-century. However, their plans were thwarted as they paused their most aggressive efforts for the 2012 campaign and job growth continued at a steady pace of around 160,000 new jobs a month.
The Economic Policy Institute’s Josh Bivens and Andrew Fieldhouse summarized how the congressional GOP actively smothered the economic recovery. But the effort to cut spending and spread destructive myths about the economy united the entire party and could have easily caused a recession, if it had only been more effective.
Here are five ways the Republican Party has tried to sabotage our economy.
Copyright 2013 The National Memo