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The unemployment rate was 9.6% when the Republicans took over at the end of 2010 and they have held control of Congress since that time and now we are down to 4.3%.
Republicans didn't take over until 2011 and the UE was 9.0% and had already been declining for some time by then.
Any legislation to boost the economy would take several years to be implemented and see an effect, so why did the economy recover before Obama did much?
ah, i see your error.
2008-9 was a disaster, the banking world on its knees, housing and stock markets in free fall.
Obama took over in a time of extreme risk and acted accordingly.
The policies were fast acting but focused at stopping the free fall first and THEN growing the economy again.
Obama underwrote banking, took over as the primary mortgage buyer for the entire nation and the long scheduled ending/ reversal of that policy is starting just this month!
Obama increased federal backing for privately held accounts by 150% bringing it to 250k! this reduced the risks of bank runs... Obama saved the US Auto industry almost overnight by acting as a lender and buying positions. GM is the perfect example. (note we made a big profit on it).
so when you say "why did the economy recover before Obama did much" I will be nice and pretend you just did not know or understand what Obama did. Because he and his excellent teams did a huge amount. and history may record him as having prevented another great depression.
Honestly i get that Rs hate Obama, but at least be honest and fair. Obama saved our collective butts.
One more thing. The price of saving our economy was disproportionately placed on the shoulders of people who paid their debts but were asset and cash poor. Those folk got hit too hard and should have been acknowledged much more.
But in republican conversations about debt Clinton's surpluses are ignored, GW Bush turning surpluses into huge deficits is ignored, and Obama decreasing our deficits by 2/3 is ignored.
But in republican conversations about debt Clinton's surpluses are ignored, GW Bush turning surpluses into huge deficits is ignored, and Obama decreasing our deficits by 2/3 is ignored.
Great post. The GOP is for ruining the economy for everyone but the top.
They stopped the fed government from spending like a drunken sailor. The 4 highest years of US debt coincided with Nancy running Congress and Harry running the Senate....once Pelosi lost the power to waste billions, the economy recovered.
I wanted to apologize if I was rude in my previous posts. And thank you for responding to my question in a polite and civilized way.
We might live in different universes in regards to political views. But at least SOMETIMES we can talk to each other in a civilized way and respect each other.
Any legislation to boost the economy would take several years to be implemented and see an effect, so why did the economy recover before Obama did much?
Quote:
Originally Posted by evilcart
ah, i see your error.
2008-9 was a disaster, the banking world on its knees, housing and stock markets in free fall.
Obama took over in a time of extreme risk and acted accordingly...
so when you say "why did the economy recover before Obama did much" I will be nice and pretend you just did not know or understand what Obama did. Because he and his excellent teams did a huge amount. and history may record him as having prevented another great depression.
Honestly i get that Rs hate Obama, but at least be honest and fair. Obama saved our collective butts.
One more thing. The price of saving our economy was disproportionately placed on the shoulders of people who paid their debts but were asset and cash poor. Those folk got hit too hard and should have been acknowledged much more.
But in republican conversations about debt Clinton's surpluses are ignored, GW Bush turning surpluses into huge deficits is ignored, and Obama decreasing our deficits by 2/3 is ignored.
Don't assume that just because someone is not a Republican, that they want our economy or country to fail, I am sorry - that is just not true. I want our Country to succeed no matter who is President or what party they represent...I am on America's side every time...Democrat or Republican aside. Our Country is way too divided by Partisan nonsense. If this keeps up, it is going to destroy the whole Country. But, I do
hope that people wish for the best no matter which party is in control. I do....most of the people I know, do...and could care less if they have a D or a R or I beside their name.
2008-9 was a disaster, the banking world on its knees, housing and stock markets in free fall.
Obama took over in a time of extreme risk and acted accordingly.
The policies were fast acting but focused at stopping the free fall first and THEN growing the economy again.
Obama underwrote banking, took over as the primary mortgage buyer for the entire nation and the long scheduled ending/ reversal of that policy is starting just this month!
Obama increased federal backing for privately held accounts by 150% bringing it to 250k! this reduced the risks of bank runs... Obama saved the US Auto industry almost overnight by acting as a lender and buying positions. GM is the perfect example. (note we made a big profit on it).
so when you say "why did the economy recover before Obama did much" I will be nice and pretend you just did not know or understand what Obama did. Because he and his excellent teams did a huge amount. and history may record him as having prevented another great depression.
Honestly i get that Rs hate Obama, but at least be honest and fair. Obama saved our collective butts.
One more thing. The price of saving our economy was disproportionately placed on the shoulders of people who paid their debts but were asset and cash poor. Those folk got hit too hard and should have been acknowledged much more.
I don't hate Obama, I give him credit for signing the budgets the Republican Congress passed the last 6 years of his Presidency that have turned the economy around.
I completely disagree with what George W & then to a greater extent Obama did to give billions upon billions to the big Wall Street banks so their poor decisions were rewarded and they proceeded to pass out millions to their managers for their stupid decisions.
About saving the auto companies, that was justified.
the best way to have stimulated the economy would have been to determine the amount of money you were giving away and pass an equal check to every citizen in the country.
Great post. The GOP is for ruining the economy for everyone but the top.
If that were true, they would be voted out....fortunately, that's not correct.
Obama did nothing for the middle class and he was fantastic for the rich...that much is undeniable.
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and makes up Fake News
to take advantage of a soldier's death, Trump is busy MAGA.
