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Um, no. People have STOPPED spending, that is the problem.
I disagree. We had been spending well beyond our means for years, and it finally caught up with us. The credit card and mortgage defaults are what took down the financial sector. Now people aren't spending because the banks aren't lending.
Looks like the messiah forget to click his heels and wave his magic wand
oh, wait a minute, he forgot to wear those red shoes
but that's ok, the neocons are broiling with nothing better to offer
full spin? you mean like WMD spin?
Quote:
Um, no. People have STOPPED spending, that is the problem.
do you have any money to spend? I could use a loan.
Great post. While funny (yet sad), it was frustrating to see Obama lamenting deficits and debt in light of the fact that HE just QUADRUPLED the 2009 deficit and is increasing the national debt to unseen levels. The 2009 debt was estimated to be around $ 570 Billion in Inauguration day (1-20-09) and the estimate now is near $ 2 Trillion.
It's scary to see people (including the media) cheerlead for this stuff while it is going to hurt ALL of us. It's frustrating to listen to people defend an Administration that is hurting their own lives.
Bush claimed a $459 billion deficit.
Without the wars.
Without TARP.
With budget tricks, hiding $400 billion in cost.
The only actual "spending" obama's done is the stimulus, which is 20% of the increase in the deficit.
Summary:
OLD ESTIMATE WAS LYING TO YOU
You bought a fantasy created by duplicitous or lazy politicians and political commentators.
No ;Obama was left with the deciison on the second half of the TARP money;then he decided to spendit it;the stimulus and then loan the moaney to the auto companies. Bush keep the second half of the TARP for Obama to decide whether to spend it or not.All Bush spent was half of the TARP. You haven;t been watching it seems and live in Obamaland.Plus the fact that the second half that congress approved was for the second half of TARO was to go to solve the hosuing crisis . That is why congresss approved the borrowing.Obama identified that as the second priority but has doen sqaut o0n it and spent the mney gving AIG and others that money. He thenlaoned the auito companie money. Bush only spent the first hlaf of the TARP money on the banks as they told congress. Your living in Obamaland where evry chages from speech to speech and where a goal is a plan .
No ;Obama was left with the deciison on the second half of the TARP money;then he decided to spendit it;the stimulus and then loan the moaney to the auto companies. Bush keep the second half of the TARP for Obama to decide whether to spend it or not.All Bush spent was half of the TARP. You haven;t been watching it seems and live in Obamaland.Plus the fact that the second half that congress approved was for the second half of TARO was to go to solve the hosuing crisis . That is why congresss approved the borrowing.Obama identified that as the second priority but has doen sqaut o0n it and spent the mney gving AIG and others that money. He thenlaoned the auito companie money. Bush only spent the first hlaf of the TARP money on the banks as they told congress. Your living in Obamaland where evry chages from speech to speech and where a goal is a plan .
My source is the budget.
The numbers are there in black and white.
The second half of the TARP (the newest addition) is a placeholder.
It may not be spent.
Wouldn't that be something?
If we came in under-budget?
You've demonstrated great debating skills and powerful reading comprehension.
Enough that I assume I will never be able to sway such great intellects.
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