Recently, the Romney campaign has taken to telling voters that Obama “can’t tell you that you’re better off” now than four years ago. While the economic numbers suggest otherwise, there’s a simpler way to understand the reality of four years ago: take a look at what people were saying at the time. September 2008 was the month where the financial crisis — caused in significant part by Republican-supported deregulation of the financial industry — really took off, a point reflected clearly in the newspaper headlines from the time:
STOCK SHOCK FELT ROUND THE WORLD. Gets ‘nasty’ as Lehman tanks, Merrill vanishes, AIG wobbles [New York Daily News, September 16, 2008]
Depression Coming? Boil Some Beans; Ladies Who Quilt Give Tips On Surviving Tough Times [Albuquerque Journal, September 21, 2008]
One day on the brink On Wednesday, it seemed U.S. economy might collapse [St. Louis Post-Dispatch, September 21, 2008]
‘Great Depression’ closer than U.S. admits, report finds [Pittsburgh Tribune-Review, September 27, 2008]
Will Bush become the new Hoover? [Politico, September 19, 2008]
Developers bend under housing meltdown [Colorado Springs Gazette, September 27, 2008]
Depression seen possible [Florida News-Press, September 27, 2008]
Wall Street Meltdown Continues [CNN, September 17, 2008]
Is It Really the Next ‘Great Depression’? [NPR, September 19, 2008]
Behind Closed Doors, Warnings of Calamity [The New York Times, September 20, 2008]
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