Basu: Clinton gives economics lesson for why Obama trump Romney

In Basu’s article, “Clinton gives economics lessons for why Obama trumps Romney,” written on September 7th, 2012, she explains how Bill Clinton endorsed the president.

First off let me begin by saying that I have always had issues with opinion articles, however, this one may have changed my mind.  Many opinion articles lack sources, however, props to Ms. Basu for letting us know that she used www.factcheck.org.

Now, on to the facts.  Basu writes that “Clinton did what Obama has faulted himself for not doing — offered a narrative.”  According to the NPR transcript of Clinton’s speech, he states “President Obama started with a much weaker economy than I did, no president — not me or any of my predecessors, could have repaired all the damage in just four years.”  This quote is the same as Basu found.

Basu says that 750,00 jobs were being lost when Obama took office, although according to www.epi.org, the monthly job loss for 2008 accelerated from 82,000 jobs in the first quarter to 510,000 in the fourth quarter.

As for the tax cuts, it seems that according to Mitt Romney’s, www.mittromney.com  website, the cutting of $5 trillion is true.

The problem that I’ve frequently found with opinion columns is that the columnists leave out portions of news, or “distort” the truth to help get their point across, however, I think that if more columnists took the initiative to fact check their own facts, then the news can be distributed with less fault.

What do you think?  Let us know and read the original article here.

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3 thoughts on “Basu: Clinton gives economics lesson for why Obama trump Romney

  1. Interesting read – I think the effect of Superstorm Sandy and Obama’s ‘Presidential’ fortitude over the past few days will do him more good than any campaign event. Romney remains as incoherent and irrelevant on yet another issue, as usual. Check my thoughts: http://goo.gl/FNOyM

  2. I urge you not to get hung up on the $5 trillion dollar number and I’ll explain why. Historically, tax revenues in American tend to remain a constant percentage of the GDP regardless of tax rates. In 1954, the marginal tax rate for the wealthiest Americans was 90%. During the 1960′s, it began to lower, but never dropped below 50% until 1986. Throughout this period, the government’s revenue was basically 17% of GDP. From 1987, the top marginal tax rate ranged from 40% to 28% and the tax revenues for the government were just under 18% of GDP.

    Obviously, 18% of a larger GDP generates more revenue than 18% of a smaller GDP. So the question is, how do we grow the GDP? The best way to increase these three areas is to lower taxes (lower the risk for individuals and businesses to invest their resources) and to lessen the burden of regulations so that it is easier to do business.

  3. We thank you for your comment, however we would like you to know that our job is to remain unbiased while covering the political campaigns. We have no intentions whatsoever of forming opinions. Thank you for your facts we will be sure to check them.

    -Josh and Dana

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