Just to refresh...memory, Barack Obama came into office saying that he had a plan to fix the economy and would hit the ground running.
Then he proceeded to put the economy and jobs on a back burner while he pursued ObamaCare.
As a result...he's led the worst recovery from a recession since FDR and the Great Depression.
So the blame for the slow recovery has to do with Obamacare? If the recovery was tackled first things would have gone much better? Hmm...events all over the world would appear to call this logic into question
But WHAT exactly was the first thing Obama did when entering office, even before entering office?
Hmm...
The
Troubled Asset Relief Program (
TARP) is a program of the
United States government to purchase assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President
George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the
subprime mortgage crisis.
The TARP program originally authorized expenditures of $700 billion. The Dodd–Frank Wall Street Reform and Consumer Protection Act reduced the amount authorized to $475 billion. By October 11, 2012, the Congressional Budget Office (CBO) stated that total disbursements would be $431 billion and estimated the total cost, including grants for mortgage programs that have not yet been made, would be $24 billion.[1] This is significantly less than the government's cost of the savings and loan crisis of the late 1980s but does not include the cost of other "bailout" programs (such as the Federal Reserve's Maiden Lane Transactions and the Federal takeover of Fannie Mae and Freddie Mac). The cost of the former crisis amounted to 3.2 percent of GDP during the Reagan/Bush era, while the GDP percentage of the latter crisis' cost is estimated at less than 1 percent.[2] While it was once feared the government would be holding companies like GM, AIG and Citigroup for several years, it was reported in April 2010 that those companies are preparing to buy back the Treasury's stake and emerge from TARP within a year.[2] On December 19, 2014 the U.S. Treasury sold its remaining holdings of Ally Financial, essentially ending the program. TARP revenue has totaled $441.7 billion on $426.4 billion invested.[3]
Troubled Asset Relief Program - Wikipedia, the free encyclopedia
You appear to have fallen into the Rush-Alternative-World-View meme, where on Feb/Mar 2009, Rush gave a speech declaring 'we need to take our country back' -- all before President Obama changed a single thing
It's okay, recent brain studies can account for how you came to your faulty conclusions and stick with them