This madness has got to stop.

There are lies...

Sarah Palin:

“Our nation is facing great challenges, but I’m optimistic — and I know there is a way forward,” she writes. “Ronald Reagan faced an even worse recession. He showed us how to get out of one.”

Speaking on Sean Hannity’s radio show, Palin said that “some on the left, that lamestream media, they’re contradicting what I wrote in the book.”

Hannity jumped in to ask, “did you say lamestream media?”

“Yeah, lamestream,” Palin responded. “They are contradicting those facts that I laid out regarding what Reagan had to say.”

“Anyways, it’s been nonsense to hear some of the criticism of that principle there, and that is what history shows us is what Ronald Reagan did was put American back on the right path,” she continued. “We need to emulate that.”

“We need to repeat that instead of going back to the 1930s and think that some growth of government, New Deal spending is going to get us out of a recession,” she said. “It is, of course, going to cause greater problems.”

And there is truth…

From PolitiFact:

Long-term unemployment. Many economists believe that long-term unemployment is more worrisome than short-term unemployment, because the longer someone goes without a job, the harder it is to get back into the work force, and, in turn, the harder it is for the economy as a whole to move forward. And there’s a lot more long-term unemployment now than there was during the early 1980s.

In 1982, the final year of the Reagan recession, short-term unemployment — that is, joblessness lasting less than five weeks — hovered around 3.7 million. That’s not much different than the 3.3 million or so short-term unemployed we’ve seen so far during 2009.

The picture is quite different for long-term unemployment, which is defined as 27 weeks or more without a job. In 1982, the number of people who were unemployed for the long term ranged from 1.2 million to 2.6 million. It’s far worse today, with numbers ranging from 2.6 million to 5.6 million. In fact, in October 2009, the average duration of someone being unemployed reached 26.9 months — the longest on record.

VERDICT: Much worse under Obama.

Personal income. Personal income actually rose during the Reagan recession (up 28 percent over the full three years and up 7 percent during the second of the two dips). During the Obama recession, personal income has fallen by about 1 percent over the two years.

VERDICT: Worse under Obama.

Industrial production. Industrial production means somewhat less these days, in postindustrial America, but it’s still a useful barometer for economic activity. Under the Reagan recession, industrial production fell by 9 percent over the double-dip recession and 8.6 percent during the second dip alone. By contrast, industrial production has shrunk during the Obama recession by 12 percent.

VERDICT: Worse under Obama.

The stock market. Economists disagree about the merits of including the stock market as a factor when gauging recessions, but with many more Americans invested in stocks now than 30 years ago, a downturn in stock values can have both tangible and psychological effects.

As it happens, the Dow Jones Industrial Average rose during the Reagan recession and has plunged during Obama’s. It climbed by 19 percent during the full, double-dip recession and rose by 9 percent during the second dip alone. By contrast, the Dow has fallen 22 percent during the current recession.

VERDICT: Worse under Obama.

Housing prices. The Reagan recession may have been bad for unemployment, but it was good for real estate. Over the double-dip recession, house prices rose by 11.4 percent. During the second dip, the rise was smaller — 2.2 percent — but still in positive territory. To be fair, that was in an era of much higher inflation. Still, during the Obama recession, house prices have fallen 5.7 percent, a decline much faster than prices as a whole. And the experience of seeing one’s house value plunge only adds to the psychological wallop.

VERDICT: Much worse under Obama.

Foreclosures. The comparisons for foreclosures aren’t exactly apples-to-apples due to changes in the housing and mortgage markets. But foreclosures are definitely up. The rate of active foreclosures in the fourth quarters of 1980, 1981 and 1981 ranged from 0.38 percent to 0.67 percent. In the fourth quarter of 2008, the rate was 3.3 percent, and in the second quarter of 2009, it rose again to 4.3 percent.

VERDICT: Much worse under Obama.

If she’s going to insult every news source that has the nerve to dispute her claims, then she shouldn’t open her mouth. Calling the media “lamestream,” is childish and silly, and it doesn’t befit a potential presidential candidate.  Sarah Palin has adopted this “rogue” persona to completely disavow herself of any accountability for anything she says or does. She needs to grow up. She couldn’t run a dishwasher, let alone the United States of America. Very sad.


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