Friday, November 13, 2015
Why has the recovery from the recession been so historically weak? Blame the Democrats
Why has the recovery from the recession been so historically weak? Peter Wallison, in the Wall street Journal Nov. 5, 2015 explains that the democratic congress, working with the Obama administration, produced Dodd-Frank act. It is thanks to that that the 5 year growth has averaged a pitiful 2.2%. This is because ofallthe new regulatory costs and lending standards imposed on small banks. This has forced many small banks out of business. This has had an especially bad impact on new business start-ups, which account for most of our job growth. Instead Bernacke should have changed destructive housing policies, then Dodd-Frank might not have happened and our economic recovery would be far more robust.