Discussion in 'Economy' started by Brutus, Aug 10, 2011.
Can someone explain this too me, please?
Obama shoved down a failed stimulus plan in a useless attempt to spur growth and jobs in the economy, it was 787 billion, by the time you pay the interest it will be well over a trillion.
He promised that unemployment would not go above 8% it is as 9.2 % now and has never been lower than 8%. When you break down the numbers per job created was app 287,000. All it really was for was a slush fund for the states a very meager tax reduction that no one even noticed they got and the other 3rd was for the arts and humanities and other useless stuff.
The 14.2 trillion is our national debt, .43 of every dollar on that we are borrowing from China.
Clinton spent 547 million per day.
Bush spent 1.2 billion per day.
Obama spends 4.1 billion per day and growing. Yet he wants to raise your taxes so he can spend more.
That's also why the downgrade from S&P. They don't think we have the means to pay it back and we don't not at this rate.
Clinton spent 547 million per day? So his budgets were approximately 200 billion dollars per year?
Bush spent 1.2 billion, so his budgets were approximately 400B dollars per year?
Someone should tell the treasury department- we're rich!!!
There were two very different bailouts going to two VERY different CLASSES of people.
TARP was the sot thrown to the BANSTERS (and the fools owning their worthless paper) to stabilize and support their illiquidity problem.
Basically that money (and more important stabilizing promises by the FED) supported the richest people on earth from the pernicious effects of the BANSTERS' foolish mistakes.
To a larger extent the fact that the government said that they would take on responsibility for any toxic assets (while allowing those banks to keep the assets that weren't toxic) was that multitrillion dollar number you quoted. (much money didn't really change hands but RISK was assumed by the FED which was enough to save those banks from bankruptsy)
The STIMULUS was the $787 Billion dollar number.
38% of it come in the form of tax breaks.
Most of it went to STATES so they could continue to build stuff and/or keep workers (like teachers, cops, firemen) at their task, and also to help the states support their unemployed and foodstamp programs.
That so called stimulus didn't do much to CREATE WORK for people looking for work.
IN terms of the SIZE of our GDP, the stimulus, was way too small to actually make much difference.
China's $500+ billion dollar stimulus was, by comparison of their GDP, much MUCH larger priming of the pump than what we did.
so why didn't the 14.2 trillion function as a huge huge huge stimulus?
so why didn't the $14.3 trillion function as a huge huge stimulus?
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