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Originally Posted by Gozer
By what measures? Please support that claim.
The only person I've heard assert that is Sean Hannity.
“The fourth quarter of 2008, right after the Lehman failure, now shows an 8.9% annual rate of decline in GDP and now represents the worst single-quarter decline in GDP since the 10.4% drop in the first quarter of 1958, exceeding the 7.9% decline in the second quarter of 1980.”
http://www.ihs.com/products/global-i...?ID=1065930147 |
One bad quarter doesn't even equal a recession. It is the accumulative effect of many bad quarters in a roll that cause bankruptcies and foreclosures.
Quote:
Originally Posted by Gozer
TARP was on Bush's watch; Obama continued the policy but there was really no other option at the time.
The auto sector bailout has been a success.
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The auto sector was not a success. It both cost the taxpayers money and prevented the only thing that could have fixed GM's problems: bankruptcy. Thanks to Obama's interference GM is still on the hook for a gold plated pension plan that will continue to drag the company down and make them uncompetitive. GM still closed plants. They were also forced to invest heavily in a electric car that was a failure financially from day one.