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Originally Posted by HOZ
Versus the current POTUS who spent more money in his first years as POTUS than all the Presidents from George Washington up to Bush....and now the economy is double dipping recession.
Actually, I will be honest here....it wasn't him. He showed his leadership stripes by punting to Pelosi and Reid. He is the punting/ golfing president. But thank goodness for the March Madness brackets info he so graciously parted unto us unwashed!
Umm..... yes I truly think she would have done better. It COULD NOT BE WORSE. |
There's two things I have to say.
1. The Republicans F'ed the economy by de-regulating the stock market allowing such things like the mortgages that were given out from 2000 on. That caused the recession. Just because someone has a business background does not mean they are good with money....
2. The amount of capital out there is staggering. Unlike in the depression, where the rich were the hardest hit in terms of the % of their finances (everybody got killed because of the market, but a large portion of the upper class lost everything)
The problem today is with the groups that got hit in this recession. The two groups that got nailed the most were the poor and the remnants of the middle class. The rich have gotten away from the hit pretty much unscathed. The sensible thing to do in a case like this would be to increase taxes on the segment that was the least affected (the rich) in order to funnel some cash into some spending projects, like creating new bridges in the places where they all seem like they're about to fall down.
Obama didn't spend enough money back when the bailouts were given out and it did a partially good job, but not enough to really kick start things. That's why things have been recovering for the past two years, but haven't continued to recover.
The problem is that the republicans are wanting to bend the poor and middle class even more, but leaving the rich alone. It is madness. It will destroy the country. People will riot, people will go crazy. You can't have such a thin group of elite and the other 99+% of the population getting really worked over. Things like that led to the American and French revolutions. Not exactly a good idea to incite things to go down that path.
It's not like it'll take much to get things started, do two things. Let the bush era tax cuts expire, and decrease the corporate tax rate two or three percent but get rid of every loop hole. Funnel that money directly into spending projects on infrastructure like roads, bridges, laying high speed internet cable, and even possibly high speed rail between cities that are close together like on the east coast.
The worst time to worry about the deficit is during a recession, you're supposed to spend your way out of it. Hoover didn't and look what happened. It wasn't till FDR started spending like a crazy person that things started to get better.