Quote:
Originally Posted by jimnaseum
To put the breathtaking scope of this irresponsibility in perspective, the Bush administration's swing from surpluses to deficits added more debt in its eight years than all the previous administrations in the history of our republic combined. And its spending spree is the unwelcome gift that keeps on giving: Going forward, these unpaid-for policies will continue to add trillions to our deficit.
|
Nice try, but as a historical TRUTH that is actually a well-documented and proven FACT about Obama. The bottom line: in only ONE YEAR in office, Obama has now SPENT MORE THAN EVERY PRECEDING PRESIDENT IN U.S. HISTORY
COMBINED.
Quote:
Originally Posted by jimnaseum
That is why President Obama and Congress crafted the American Recovery and Reinvestment Act. It is widely accepted that the difficult but necessary steps Obama took have helped save our economy from an even deeper disaster.
|
Actually, it's NOT "widely accepted" anymore. In fact, just as many economists -- and even polls of the American people themselves -- now show that a majority of people feel Obama basically "scared" people into allowing him (and the Democrats in Congress) to break the national piggy bank and to spend like drunken sailors on shore leave, by constantly labeling the crisis "the worst disaster since the Great Depression."
As many economists have noted -- including even people like Paul Krugman, noted LIBERAL economist, who of late has likewise turned on Obama -- how can you call it "the worst crisis since the great depression" when all it took was a one time cash infusion to right the system, and in only ONE YEAR the veru same banks Obama was claiming were on the verge of total collapse have not only paid their loan money back, but are now likewise posting RECORD PROFITS?
Quote:
Originally Posted by jimnaseum
It was President Bush -- not Obama -- who signed into law the $700 billion Troubled Asset Relief Program bailout for banks....
|
You're right. So congratulations on proving my point. Even if you DO want to call it "the worst crisis since the Great Depresssion", then the CREDIT for saving the banks and re-stabilizing the system should NOT go to Obama, but should actually belong to -- yes -- George Bush!
Quote:
Originally Posted by jimnaseum
...the Obama administration's rigorous stewardship added transparency and accountability that have cut the expected cost of that program by two-thirds.
|
I call bullshit on that one. It's not that Obama CUT the cost by 2/3 through any stewardship. And the idea that ANYTHING Obama does can be called transparent is laughable. The reason there was a savings is because they never NEEDED to spend all the allocated money -- which dovetails right back into my point above, that the banks righted themselves to a large degree and are now even back to posting profits.