There must have been a thousand messages on this board stating everything Obama should not have done to pull the nation out of recession and restore economic growth. How about putting yourself in the oval office and sharing with us what you would have done. The situation is:
You have just assumed the office of the President in 2008.
The country is officially in a recession.
George Bush has just signed into law TARP, a 300 billion dollar financial bailout.
The deficit is about 700 billion
The stock market has lost 20% of it's value in 3 months
Unemployment has increase 45% in last 12 months
The fed has driven interest rates down from 4.5% to 1%
Economist are predicting unemployment will reach 10% within 6 mos.
Income Tax rates have been lowered to lowest point in 80 years.
What would you do?
You have just assumed the office of the President in 2008.
The country is officially in a recession.
George Bush has just signed into law TARP, a 300 billion dollar financial bailout.
The deficit is about 700 billion
The stock market has lost 20% of it's value in 3 months
Unemployment has increase 45% in last 12 months
The fed has driven interest rates down from 4.5% to 1%
Economist are predicting unemployment will reach 10% within 6 mos.
Income Tax rates have been lowered to lowest point in 80 years.
What would you do?