Immanuel
Gold Member
- May 15, 2007
- 16,828
- 2,269
- 183
You must have been fucking born yesterday. The economy went into free fall during the election. Remember McCain talking about suspending his campaign to help fix the problem? Of course the economy was going into the shitter. Who came up with TARP? Why was that necessary?
Obama inherited a recovery and made it worse.
Obama inherited a recovery? You can't be that fucking stupid (actually, you might be...)
The economy lost 700,000 jobs and an annualized 7% of GDP the month before he took office.
Most of the job losses were a result of changes that were anticipated from the new administration. This happens with just about every new President.
The same thing happened with Bush and Reagan. Companies start laying people off because they want to make sure their bottom-lines won't cause them to go into bankruptcy. The fear is usually taxes.
With this administration there were real fears that taxes were going to go up dramatically. After he admitted he was going to spread the wealth it almost caused a near panic. Now the fears have partially subsided because Obama doesn't have a full Democrat congress with a filibuster proof majority anymore.
We have the potential of recovery as long as Obama doesn't do something stupid.
Now we've gotten wind of a planned collapse of the economy similar to the one that was sprung in Sept of 08. If it happens Obama's chances of re-election will evaporate.
That was because he promised not to raise taxes on families making less the $250k. We all saw where that campaign promise was headed.
Immie