I wanna know what Obama backs say now

[mmcfadden]

How can you possibly dump so much fuckin "money" into an economy and expect the growth?

That other thread about the deficit is real shit... now what?

Republican's are much better at sensible approaches then this fuckin guy we call a president.

Sorry believers... good talk and no back makes US go into deep, deep recession. That's even if ya can call it a recession in 2011...

My money will be overseas shortly and hopefully not during WW3 for my daughters sake

[papill0n]

Every developed world government is doing exactly what yours is doing. Here in Australia will be paying off our deficit for more than 20 years apparently. Not that I support the government but they are damned if they do and damned if they don't.

Maybe there would be more money if our governments hadn't pumped trillions and trillions of dollars into playing bang bangs in Iraq.

[Raf1]

the idea of dumping a huge amount of cash into the economy like that would not have been my idea of saving it, but I still think he will do much less harm than bush has done over the years...

[Mutt]

Do you honestly believe John McCain or George W Bush wouldn't have bailed out the auto companies and the banks? They both would have done pretty much the same thing.

[mynameisjim]

Wasn't the bank bailout and the first auto bailout in process during the GW Bush final days?

But look, before Bill Clinton took office we were dealing with huge deficits and recession. We hit an economic boom and paid the whole damn thing off and were at a surplus in under 8 years. We can bail out of this, we just need an economic boom in the next 5 years or so.

It will happen, then we will bust again. Then there will be another boom, etc. Everybody always thinks the shit has finally hit the fan during "their" time but this has been going on forever.

The economy is already showing faint signs of recovery despite everyone saying the world is going to collapse. Even people on GFY told me I was an idiot and would be growing my own food in another thread when I suggested by the end of 2009 we would be in recovery.

Relax, everything will work out. It always does.

[OldJeff]

Originally Posted by mynameisjim

But look, before Bill Clinton took office we were dealing with huge deficits and recession. We hit an economic boom and paid the whole damn thing off and were at a surplus in under 8 years. We can bail out of this, we just need an economic boom in the next 5 years or so.

We never paid off the national debt, never even came close, The federal budget was balanced via the "Contract with America", and they were showing an annual budget surplus.

But the surplus was actually just smoke and mirrors, they simply moved billions and billions in spending to an "off budget" category so they could make it look like they balanced the budget.

[JFK]

Originally Posted by OldJeff

We never paid off the national debt, never even came close, The federal budget was balanced via the "Contract with America", and they were showing an annual budget surplus.

But the surplus was actually just smoke and mirrors, they simply moved billions and billions in spending to an "off budget" category so they could make it look like they balanced the budget.

sounds like you say, Smoke and Mirrors

[Wizzo]

If you think its a Democrat/Republican issue, please pull your head out of your ass and realize its both sides of the aisle fucking our country into the ground. The partisan politics is just the cover which allows them to do this on both sides. The entire system has become corrupted with life long politicians that their only goal is to keep their seat, rather than doing the people's business. There's no recession on capitol hill, their budgets and salaries are steady rising.

[seeandsee]

Obama can save USA with smart moves.

[JC Maldini]

Originally Posted by Wizzo

If you think its a Democrat/Republican issue, please pull your head out of your ass and realize its both sides of the aisle fucking our country into the ground. The partisan politics is just the cover which allows them to do this on both sides. The entire system has become corrupted with life long politicians that their only goal is to keep their seat, rather than doing the people's business. There's no recession on capitol hill, their budgets and salaries are steady rising.

Couldn't of said it better myself

It's time for some of you Republicrats to join the growing number of independents!!

[Useless Warrior]

Originally Posted by mmcfadden

How can you possibly dump so much fuckin "money" into an economy and expect the growth?

Yes. It's exactly what most economists would say to do. During a recessionary period, the Fed needs to push money back into the system and encourage private investment by decreasing interest rates. The BIG problem that has delayed the process/effect is the credit contraction which occurred with the failing of several large financial institutions. It doesn't matter how low interest rates are or how much money is sitting in the banks if the banks become too scared to create loans. Obviously, banks are feeling more secure now and are creating loans -- they just aren't creating the insanely risky loans they were prior to the banking crash, which were, of course, the cause of the crash.

Without being overly political about it, we (our financial gurus) allowed the banking system to become more corrupt than usual by the influx of foreign investments which were necessary to fund the wars in Iraq and Afghanistan. We needed the cash and they wanted to invest with us. When the banking community said they were running low on worthy loan applicants, the foreign cash holders (China, et al.) suggested that we decrease our standards for giving credit. Greed and ignorance took over and here we are today with tens of thousands of bad loans.

Also, for those of you who don't realize it, the bail-out of the Big Three is nothing new. They've all received many bail-outs over the last several decades, just as the airlines have -- no matter who has been in the White House. People are only up in arms about it because all possible shit is hitting the fan at the same time.

Though politics will be played and the talking heads will rally their fan base, there really isn't all that much political about what the Fed, the FOMC, and others are doing to re-stabilize our monetary and fiscal practices right now.

By the way, I just tested out of Macroeconomics the other day. Ask me any of this in another month and I won't remember fuck-all.

[CDSmith]

Originally Posted by mmcfadden

Republican's are much better at sensible approaches then this fuckin guy we call a president.

Sorry believers... good talk and no back makes US go into deep, deep recession. That's even if ya can call it a recession in 2011...(

The US was headed into recession long before Obammer took office.

ie; under the republicans' watch.

[DrChango]

Originally Posted by RageCash-Ben

Every developed world government is doing exactly what yours is doing. Here in Australia will be paying off our deficit for more than 20 years apparently. Not that I support the government but they are damned if they do and damned if they don't.

Maybe there would be more money if our governments hadn't pumped trillions and trillions of dollars into playing bang bangs in Iraq.

Imagine the cost of the Iraq occupation as tax rebates for consumers.

[Martin]

Both parties support keeping the American Empire going and it's bankrupting you. You spend on defence as much as the rest of the world's defense spending combined. Nevermind these usless wars like Iraq you keep getting into..

[Martin]

Btw, I'm no supporter of Obama by any means. He could get snipped tomorrow for all I care. Just another puppet for our rulers.

[jigg]

um... first the economic meltdown occurred during a republican administration due the lack of regulation.

2. the deficits were run up from 2001-2008 by Bush administration.

3. it was bush's government who came up with the bailouts in September 2008 and which Bush, a republican president, signed into law


4. The Federal Reserve doesn't need anyone's permission to do whatever it wants including printing money, giving it away etc. They've done it since their existence, who do you think props up the US dollar and bonds on a weekly and sometimes daily basis?

5. The same banks getting a bailout are also chairing the Federal Reserve.

[vanillaice]

Originally Posted by Martin

Both parties support keeping the American Empire going and it's bankrupting you. You spend on defence as much as the rest of the world's defense spending combined. Nevermind these usless wars like Iraq you keep getting into..

Sadly, this is accurate. America is a massive war nation, similar to Germany was. We're paranoid, think our way is the right way, and willing to spread that way. Luckily we haven't had a Hitler in power to really seal the comparisons. (and as crazy as Bush was, Hitler he was not)

The US is spending roughly 1 trillion a year on the military budget, and for what really? Oh right, to keep us safe, because we all know if we cut the budget a little, countries would be lining up to invade us the next day completely ignoring the fact that we still have nukes.

[_Richard_]

Originally Posted by Mutt

Do you honestly believe John McCain or George W Bush wouldn't have bailed out the auto companies and the banks? They both would have done pretty much the same thing.

bush was doing the same thing

[who]

i shall raise my son to kill cleanly

[LisaWP]

Originally Posted by Wizzo

If you think its a Democrat/Republican issue, please pull your head out of your ass and realize its both sides of the aisle fucking our country into the ground. The partisan politics is just the cover which allows them to do this on both sides. The entire system has become corrupted with life long politicians that their only goal is to keep their seat, rather than doing the people's business. There's no recession on capitol hill, their budgets and salaries are steady rising.

Well said. We need a major revolution to change anything.
But, I am too busy looking at porn and getting drunk.

[marketsmart]

i am happy to see some sensible political posts in this thread..

the problem is not obama, its the govt as a whole..

by the time this is over, the US will have a deficit in the neighborhood of 18-20 trilllion dollars..

more money owed in interest than can be collected in taxes annually..

its going to be very interesting to see how this all shakes out and how long it will take..

[IllTestYourGirls]

Originally Posted by Wizzo

If you think its a Democrat/Republican issue, please pull your head out of your ass and realize its both sides of the aisle fucking our country into the ground. The partisan politics is just the cover which allows them to do this on both sides. The entire system has become corrupted with life long politicians that their only goal is to keep their seat, rather than doing the people's business. There's no recession on capitol hill, their budgets and salaries are steady rising.

Life long politicians are not the problem. The problem is the life long politicians we have do not follow the constitution and do not support limited federal government