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The reason seniors feel optimistic about the future is that the Obama Administration decided to “save the bankers from the Americans and their pitchforks”. I believe that is pretty close to the exact Obama quote.
To protect the banks...Obama bailed them out and then held interest rates low for eight years so that Elites and their banks could survive the financial meltdown. That price was paid by seniors as CD rates went to ZERO for eight long years. It is pretty hard to survive in retirement when you CD’s pay ZERO.
That is the MAJOR reason seniors voted for Trump and have no respect for Obama.
The bailout happened under George W Bush. It passed Congress in October of 2008 and Bush signed it. Obama got elected in November 2008 and took office in January of 2009. Nice try though.
If your suggesting I'm not making money or doing well, you are quite ignorant. I simply disapprove of a maniac who understands little more than bullying people running the country.
The reason seniors feel optimistic about the future is that the Obama Administration decided to “save the bankers from the Americans and their pitchforks”. I believe that is pretty close to the exact Obama quote.
To protect the banks...Obama bailed them out and then held interest rates low for eight years so that Elites and their banks could survive the financial meltdown. That price was paid by seniors as CD rates went to ZERO for eight long years. It is pretty hard to survive in retirement when you CD’s pay ZERO.
Emergency Economic Stabilization Act of 2008
The Emergency Economic Stabilization Act of 2008 (Division A of Pub.L. 110–343, 122 Stat. 3765, enacted October 3, 2008), commonly referred to as a bailout of the U.S. financial system, is a law enacted subsequently to the subprime mortgage crisis authorizing the United States Secretary of the Treasury to spend up to $700 billion to purchase distressed assets, especially mortgage-backed securities, and supply cash directly to banks. The funds for purchase of distressed assets were mostly redirected to inject capital into banks and other financial institutions while the Treasury continued to examine the usefulness of targeted asset purchases.[1][2] Both foreign and domestic banks are included in the program. The Act was proposed by Treasury Secretary Henry Paulson during the global financial crisis of 2008 and signed into law by President George W. Bush on October 3, 2008.
If your suggesting I'm not making money or doing well, you are quite ignorant. I simply disapprove of a maniac who understands little more than bullying people running the country.
I'm not suggesting you're not making money, I'm pointing out it must suck that your life only has positives in the economy. You said nothing else is going well.
The bailout happened under George W Bush. It passed Congress in October of 2008 and Bush signed it. Obama got elected in November 2008 and took office in January of 2009. Nice try though.
The bailout was initiated by George W Bush....Obama continued it for ANOTHER EIGHT YEARS. There is no difference between Bush and Obama. Neither of them gave a rats hind end for the American people.
Obama was Bush Three. He continued the bank bailouts, saved the Elites while punishing the American working person and senior citizens....can you cite ONE Bush policy with regards to the financial crises that Obama overturned and changed??? He did have a majority in Congress and did NOTHING different.
For a history of the financial crises...read this book.
All the Devils are here by Bethany McLean. It is a serious book that will make you madder than hell.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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At 66 and still working, I’m making more than ever before, getting 3-5% raises every year, and finally comfortable with our financial situation. That has taken a few years to recover from our dire situation in the recession. I don’t give any president or government body credit for that, it’s a matter of finding the right job and working hard to prove myself and get promoted to work my way back up.
On the Brink: Inside the Race to Stop the Collapse of the Global Financial System -- With Original New Material on the Five Year Anniversary of the Financial Crisis https://www.amazon.com/dp/1455551902..._XViLBbNC029F2
You know who is feeling better about the economy? Older Americans. Consumer confidence for those age 55 and over hit close to an 18-year high in August.
That is helping close the gap in sentiment with Americans under the age of 35, who have long held cheerier views of the economy.
(image reproduced from and with the permission of The Conference Board under Fair Use Guidelines)
Odd graph. The X axis appears to reference the year but there's no identification of the metric used on the Y axis. Going from zero to 175, it obviously does not reference a percentage. What is the question that was asked in the survey and was it consistent over the entire period?
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