But the analogy falls apart as soon as you realize Clinton's economy was vastly different from Obama's. The recession Clinton inherited was relatively small, and caused by the Fed raising interest rates too high to ward off inflation. So it could be reversed by the Fed lowering interest rates -- as the Fed did in 1994. By 1995, the so-called "jobless recovery" had morphed into a full-blown jobs recovery. By 1996, at pollster Dick Morris's urging, Clinton could proclaim to the American people "you've never had it so good, and you ain't seen nothing yet."
The Great Recession has been far larger, caused not by the Fed raising interest rates but by the bursting of a giant housing bubble. In 2008, the biggest asset of most middle-class people, upon which they borrowed and that they assumed would be their nest eggs for retirement, collapsed. Housing prices continue to fall in most parts of the country. The Fed has lowered interest rates all it can, and unemployment remains sky high.
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