Obama not guilty of crash

On William Thweatt’s letter of March 15 on President Obama (“Facts don’t suppot Obama”): His mistake, basic to many of his points, is that Obama is in some way responsible for the crash of 2008, or at least its consequences. Many others locally make the same mistake.

That crash, the worst in over 75 years, which threatened to slide the world into a 1930s-style depression, came four months before Obama became president.

Yes, before.

The more-than-doubling of yearly deficits accompanying the crash was because of the loss of taxes from millions of workers losing their jobs and their unemployment costs, and that such a crash needs a big stimulus to hasten recovery. That recovery is happening, though not as rapidly as expected, perhaps because of a lack of experience with such a huge crash. A stimulus was understood by reputable economists as necessary.

The bailout of General Motors and Chrysler has been an amazing success in keeping a strong American role in that all-important industry. Up to a million jobs were saved, and to the surprise of many, most of the federal cost of that bailout has already been repaid.

How can any reasonable person object to that?

Victor Reilly

Aiken, S.C.

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