Time & again GOPers have successfully misled our Country as to the runaway National Debt Red ink starting January 2009, taking advantage of our countrymens general ignorance that our country budgets on a fiscal year basis from October 1 of the previous year & ending September 30 of that fiscal year. This means that fiscal 2009, started October 1, 2008 during the Bush Administration & ended September 30, 2009 with >$1.9 Trillion bucks of red ink to our National Debt at <$12 Trillion. But only >$700 Billion bucks were from Prez. Obamas successful Stimulus plan & the rest of the fiscal 2009 years red ink were in large part from the monies thrown away overseas in the illegal Iraq OIL war & more important on the Bush financial bungled Bailout plan enacted October 2008
PREZ. BUSHS FAILED BANK BAILOUT
TARP 1:
The Bush Administration financial bungling actually started on day one when after receiving >$200 Million surplus from the outgoing Clinton administration, the Bush Administration gave their Tax cuts to the rich & what we got was the 2001-2002 recession. Then to solve this financial fiasco the Bush Administration created the housing bubble by dropping interest rates to <<1% , then shot themselves on the foot by bursting that bubble with 18 consecutive interest rates in 27 months to fund their illegal Iraq war (that was supposed to pay for itself) making the ARM to shoot to >>20% effectively bursting the housing bubble on May 2007. These events broke the financial glass bottom of our country in August 2008 because banks stopped lending money because of record housing closures due to unpaid mortgages.
The Bush Administration then went to congress on hands & knees to get those TARP 1 monies on September 2008 assuring our congress that those TARP 1 monies would enable banks to start lending money again. But after getting those monies, the Bush Administration then had their U.S. Treasury Secretary Henry Paulson outright give those TARP 1 monies to the banks by purchasing non-voting stock & as a result once the banks had those free gifts, the banks not only didnt loosen credit but instead tightened credit & used those monies to give themselves lush bonuses in December 2008 & January 2009.
As can be expected of all this financial bungling all our stock markets went into vertical nose dives & unemployment skyrocketed unequaled since the days of the great depression.
PREZ. OBAMAS SECCESSFUL STIMULUS
TARP 2:
Heres a recap of President Barack Obamas successful Stimulus plan to revive the depressed American economy & to create or save 3.5 to 4 million jobs with his $787 Billion Stimulus he signed into law on February 17, 2009:
In Billions:
$288 Tax relief
$144 State municipalities
$111 Infrastructure & Science
$81 Poor & unemployed
$59 Health Care
$53 Education & Training
$43 Energy
$8 Other
My Reference: Economic Stimulus Package In Detail | Stimulus By Category | Stimulus Packages
Can you notice the difference of cause an effect between TARP 1 & Tarp 2?:
Job loss or gain in private industry, by month. Red months mark Bush presidency, blue months mark Obama presidency. Stimulus bill was signed into law in February 17, 2009. Source: Steve Benen at Washington Monthly
Best Regards
Lobato1
PREZ. BUSHS FAILED BANK BAILOUT
TARP 1:
The Bush Administration financial bungling actually started on day one when after receiving >$200 Million surplus from the outgoing Clinton administration, the Bush Administration gave their Tax cuts to the rich & what we got was the 2001-2002 recession. Then to solve this financial fiasco the Bush Administration created the housing bubble by dropping interest rates to <<1% , then shot themselves on the foot by bursting that bubble with 18 consecutive interest rates in 27 months to fund their illegal Iraq war (that was supposed to pay for itself) making the ARM to shoot to >>20% effectively bursting the housing bubble on May 2007. These events broke the financial glass bottom of our country in August 2008 because banks stopped lending money because of record housing closures due to unpaid mortgages.
The Bush Administration then went to congress on hands & knees to get those TARP 1 monies on September 2008 assuring our congress that those TARP 1 monies would enable banks to start lending money again. But after getting those monies, the Bush Administration then had their U.S. Treasury Secretary Henry Paulson outright give those TARP 1 monies to the banks by purchasing non-voting stock & as a result once the banks had those free gifts, the banks not only didnt loosen credit but instead tightened credit & used those monies to give themselves lush bonuses in December 2008 & January 2009.
As can be expected of all this financial bungling all our stock markets went into vertical nose dives & unemployment skyrocketed unequaled since the days of the great depression.
PREZ. OBAMAS SECCESSFUL STIMULUS
TARP 2:
Heres a recap of President Barack Obamas successful Stimulus plan to revive the depressed American economy & to create or save 3.5 to 4 million jobs with his $787 Billion Stimulus he signed into law on February 17, 2009:
In Billions:
$288 Tax relief
$144 State municipalities
$111 Infrastructure & Science
$81 Poor & unemployed
$59 Health Care
$53 Education & Training
$43 Energy
$8 Other
My Reference: Economic Stimulus Package In Detail | Stimulus By Category | Stimulus Packages
Can you notice the difference of cause an effect between TARP 1 & Tarp 2?:
Job loss or gain in private industry, by month. Red months mark Bush presidency, blue months mark Obama presidency. Stimulus bill was signed into law in February 17, 2009. Source: Steve Benen at Washington Monthly
Best Regards
Lobato1
