Obama Announces Re-election Bid

[TheMercenary]

Originally Posted by Jill

And although President Obama had to continue the Republican bailout programs, unfortunately to a greater degree, as more and more devastation to our economy was exposed, it was an absolute necessity to avoid a massive Depression. If John McCain had been elected, he would have been forced to do the exact same thing, and make no mistake, he absolutely would have.

I can't agree. Look what we got for our money. How many jobs were created? At what cost? Many went to pet projects for the Dem majority. Look at the millions spent and the product we got from them.

http://stimuluswatch.org/2.0/

Pelosi, Reid, and Obama rammed programs through without being to explain their costs to the people, and when they did so, they used smoke and mirrors. They controlled congress for 4 years and the spending has gone up astronomically. They bailed out Goldman, gave out the bonus money to the top execs and then Obama hired a bunch of them into the government. Fannie and Freddy were pushed by the dems and pressure came down for them to make more and more loans. But I would agree that no one party is to blame for the housing mess. They should have taken all that money and just paid off the banks for the bad loans, then re-vamped the whole thing. Obama forced large banks to take bail outs they did not want or need, why? So they could impose greater regulations on them. And then when they tried to pay back the money the administration refused it. Why? because they want control. Obama and this administration are not to be trusted any more than people didn't and shouldn't have trusted what went on when Bush was in office. There is enough duplicity to go around when you attack one party over the other. And don't get me wrong, I don't give Bush a pass...

[Fair&Balanced]

Originally Posted by TheMercenary

I can't agree. Look what we got for our money. How many jobs were created? At what cost? Many went to pet projects for the Dem majority. Look at the millions spent and the product we got from them.

Over 1 million private sector jobs created last year; an additonal 250,000+ in each of the first three months of this year (BLS stats). Many resutling directly and indirectly from stimulus projects.

After seven straight quarters of GDP decline in 07-08, seven straight quarters of GDP growth starting when the stimulus program kicked in.

[TheMercenary]

Originally Posted by Fair&Balanced

Over 1 million private sector jobs created last year; an additonal 250,000+ in each of the first three months of this year. (BLS stats)

After seven straigth quarters of GDP decline in 078-08, seven straight quarters of GDP growth starting when the stimulus program began:

At what cost? It was a fucking boondoggle. Not a complete waste, but waste never the less.

[Fair&Balanced]

Originally Posted by TheMercenary

At what cost? It was a fucking boondoggle. Not a complete waste, but waste never the less.

At the cost of avoiding an economy in free fall and a depression that would have been much deeper and lasted much longer.

Also, dont forget that 2/3 of the stimulus funding was for tax cuts and tax relief, mostly for small businesses and middle class, along with increased benefit for large number of unemployed in the preceeding 2-3 years ....the kind of tax cuts that Republicans generally like (maybe not the increased benefits part) but refused to support in the stimulus bill for political reasons.

[TheMercenary]

Originally Posted by Fair&Balanced

At the cost of avoiding an economy in free fall and a depression that would have been much deeper and lasted much longer.

What was the probability that would have actually happened? Not every thing that was bailed out needed to be bailed out.

Also, dont forget that 2/3 of the stimulus funding was for tax cuts and tax relief, mostly for small businesses and middle class, along with increased benefit for large number of unemployed in the preceeding 2-3 years ....the kind of tax cuts that Republicans generally like (maybe not the increased benefits part) but refused to support in the stimulus bill for political reasons.

Under TARP or the Stimulus #1 and #2?

[TheMercenary]

Originally Posted by Fair&Balanced

Over 1 million private sector jobs created last year; an additonal 250,000+ in each of the first three months of this year (BLS stats). Many resutling directly and indirectly from stimulus projects.

After seven straight quarters of GDP decline in 07-08, seven straight quarters of GDP growth starting when the stimulus program kicked in.

Todays news.

http://finance.yahoo.com/news/More-p....html?x=0&.v=2