For all you Obamamaniacs: I have some questions for you
know there are many Obama supporters out there and I have debated a lot of them- some friends of mine, others not, some online, others face-to-face- but until today I have not gotten a straight answer on how Obama is good for the economy. I have heard tons of claims, but after my retorts, I usually end up hearing attacks on the Bush administration or they try to circle the issue at hand or, they say something that doesn't really have anything to do with what I want to know.
So, maybe one of you Obama supporters on this forum can try to tell me how this man is good for this nation economically. With interest rates heading up, Russia and Brazil announcing that they are partially switching out of the USD reserve (and China also looking at other options), with gold and oil prices going up again, with the deficit growing, and with the Federal Reserve starting to get in hot water with things like Bernanke's involvement in the Merrill merger and the mismanagement of TARP among other things- how do you justify his actions?
know there are many Obama supporters out there and I have debated a lot of them- some friends of mine, others not, some online, others face-to-face- but until today I have not gotten a straight answer on how Obama is good for the economy. I have heard tons of claims, but after my retorts, I usually end up hearing attacks on the Bush administration or they try to circle the issue at hand or, they say something that doesn't really have anything to do with what I want to know.
So, maybe one of you Obama supporters on this forum can try to tell me how this man is good for this nation economically. With interest rates heading up, Russia and Brazil announcing that they are partially switching out of the USD reserve (and China also looking at other options), with gold and oil prices going up again, with the deficit growing, and with the Federal Reserve starting to get in hot water with things like Bernanke's involvement in the Merrill merger and the mismanagement of TARP among other things- how do you justify his actions?
The Bush legacy is not irrelevant to the economic challenges that President Obama faces. It was during the last half of 2008 that the stock market crashed, GDP fell precipitously, consumer demand collapsed and massive layoffs began. Lehman Brothers went bankrupt in September 2008 and AIG was bailed out by the Bush Administration at a cost of $180 billion to the taxpayers. Bernanke's involvement in the Merril merger and the mismanagement of TARP, such as using $19 billion to bailout GM and Chrysler, was at the direction of then President Bush.
The Obama Administration came into office facing a calamatous situation and in less than six months the financial markets have stabilized, new claims for unemployment have started coming down and the decline in GDP has moderated. It is still way to early to pass judgement on Obama's economic initiatives but at least the economic free-fall we were in during the final months of the Bush Administration has stopped.
How can anyone think the free fall has stopped when the current mess has us three times further in debt than we were, and headed for ten times the amount?
I'm a bit confused by LaMaitre's claims regarding new unemployment claims coming down... During Bush's final year, we averaged under 200,000 jobs lost per month. Since Obama took office, we've been averaging around 500,000 jobs lost per month. There was a slight drop in the size of the loss, I believe, in May, but the number was back up again for June.
If it's true that job losses are coming down, and the economy is stabilizing, since less than 10% of the bailout money has been spent (most of which has simply gone to state governments), how can it be Obama's policies that are doing anything to the national economy? Isn't it more likely that this is simply the result of natural business cycles?
I have to say if you are in the camp that believes that Obama has set us up for economic recovery you have to be the dumbest guy in any room.
We just passed the Cap and Tax bill in the house. The single largest tax revenue generator in human history. And American job killer.
And what is this about we are fixing what was done in the Bush years? Did Bush create this global warming farce? Did he socialize the banking industry; did he push for health care? The War over 7 years cost the US about $500 billion. Obama has spent about 12 TRILLION $$ in what 6 months?
Did Bush create a shadow government of sorts? Well Obama has about 30+ czars that do not answer to congress only to him.
Obama said that he was going line by line in the budget to cut the waste from President Bush. Well do the research and you will find Obama will have to make his cuts x40 just to get to the biggest spending year of all the Bush years.
How about how folks like to say Bush pushed the Patriot act to spy on Americans! Well Obama campaigned against it, but instead of letting it sunset like Bush had in place he made it LAW FOREVER!
I just want someone to point out what campaign promises Obama made and has kept? Oh we did get “change”. Change that has made us more like the old USSR everyday.
There is little defense for what Obama is doing to our country. The people are sheep and not watching, by the time they wake up it will be too late.
For all you Obamamaniacs: I have some questions for you
