Current Events and the Psychology of Politics
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May 6th, 2010

Summary: It was not immediately clear why the Dow Jones industrial average lost some 6 percent of its value in a matter of minutes and then recovered almost as quickly. The Dow ended with a loss of 346.51 points or 3.2 percent after its biggest intraday move in history. … One-year retrospective: One year ago today, on May 6, 2009, Aubrey Immelman reported that PolitiFact’s Truth-O-Meter gave U.S. Rep. Michele Bachmann a liar “Pants on Fire” rating for her false statement, “I find it interesting that it was back in the 1970s that the swine flu broke out then under another Democrat president, Jimmy Carter. And I’m not blaming this on President Obama, I just think it’s an interesting coincidence.” In fact, the February 1976 scare happened on the watch of Gerald Ford, a Republican — not that President Ford was blameworthy in the least; in fact, he called for a nationwide vaccination program, in which 40 million Americans were vaccinated in just 10 days.


Mar 3rd, 2009

Summary: According to some economists, a Depression doesn’t have to be Great, with bread lines, rampant unemployment, and a wipeout in the stock market. The economy can sink into a milder depression — the kind spelled with a lowercase “d” — and it may be happening now.


Jan 21st, 2009

Summary: In his January 20, 2009 inaugural address, President Barack Obama promised to “begin to responsibly leave Iraq to its people” and forge “a hard-earned peace in Afghanistan,” the two wars he inherited from President George W. Bush. President Obama’s promise to end the war in Iraq is on the agenda for the first full day of his presidency, January 21, 2009, when the new commander in chief meets with top national security aides and senior commanders.


Jan 19th, 2009

Summary: President George W. Bush presided over the weakest eight-year span for the U.S. economy in decades, according to an analysis of key data, with economists across the ideological spectrum increasingly viewing his two terms as a time of little progress on the nation’s thorniest fiscal challenges. Specifically, the number of jobs in the nation increased by about 2 percent during Bush’s tenure, the most tepid growth over any eight-year span since data collection began seven decades ago. Gross domestic product, a broad measure of economic output, grew at the slowest pace for a period of that length since the Truman administration. And Americans’ incomes grew more slowly than in any presidency since the 1960s, other than that of Bush’s father George H. W. Bush.


Nov 22nd, 2008

Summary: In the summer of 2008, U.S. Rep. Michele Bachmann claimed she had a plan to lower the price of gasoline to $2 a gallon by increased drilling, including offshore drilling and drilling in the Arctic National Wildlife Refuge. However, by fall, the price at the pump dropped to nearly $2 in a matter of weeks, simply as a result of reduced demand during the economic recession.