IF you listen to the critics of President Obama in the US you will get the feeling that all the problems of this country are a result of his policies. Nothing could be further from the truth, as Obama actually inherited one of the most devastated economies in modern history upon assumption of office. More than that, President Obama also inherited the trillion dollar fall-out from the Iraq war.
When Obama took office the US was already in a deep recession. In short order, iconic Wall Street firms such as Lehman Brothers were catapulted into the dustbin of history, with trillions of dollars in losses. Others, such as the insurance giant AIG lined up cap- in- hand for a bailout.
The mortgage-induced financial crisis quickly spread to the wider economy and millions of Americans were thrown out of work by the time Obama took the Oath of Allegiance in January 2009.  The structural crisis with healthcare, a weakened dollar, persistent balance of payments problems, and a debilitating long-term debt were already in place when Obama moved into 1600 Pennsylvania Ave. The bursting of the hot-money bubble built on more than a decade of casino-capitalism simply brought these signs of hegemonic decline to public notice.
It is therefore astounding that the Republican Party and the yahoos from the Tea Party would make it appear that it is the democrats who produced the American crisis. Conservatives in the US have practically no solutions other than the already failed massive tax-cuts for the rich, even more outrageous propositions such as disbanding the Department of Education, and increased military spending.
Contrary to what Tea Party nut-cases and others say, the stimulus stabilized the economy, saved hundreds of thousands of jobs, and put in place the macro-economic forces to turn the tide. The latest jobs report is proof that the effects of the stimulus package is beginning to have a real impact for the men and women on Main Street.
In a few days the American electorate will go to the polls. One would hope that voting decisions are based on the record, and on measurable outcomes, rather than on the wisdom of witches.