To the editor:
I looked at with amusement the political cartoon on the opinion page of the Oct. 5 Messenger, about going back to a booming economy, 4 percent unemployment, $2 gas, a AAA credit rating, balanced budgets. ... Since World War II, the years of booming economies have been mainly during Democratic administrations (with the exception of Reagan's). The 12 years in which unemployment was lower than or equal to 4 percent since World War II were 1948, 1951-1953, 1956-1957, 1966-70 and 2000, mainly under Democratic administrations (with the exception of three years of Eisenhower's and two years of Nixon's). Gasoline was first at $2 in 2004 during G.W. Bush's administration (in real dollars, for a short time in 1979, under Carter). I recall that the reduction of the United States credit rating from AAA had more to do with obstruction by the Republican House rather than President Obama. Since World War II, the total budget has been in a surplus in 1947-1949, 1951, 1956-1957, 1960, 1969, and 1998-2001, nine out of the 12 years being during or immediately after Democratic administrations (the exceptions being during Eisenhower's). The budget for a fiscal year is determined in the previous year. Believe it or not, I think the Democrats have a history of having a pretty good idea of what they are doing with the economy. I do not think that President Obama is an exception. The president inherited terrible economic circumstances and, after 2010, a House that refused to work with him.