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Not sure if any previous President has had such a huge mess to clear up when elected.
President Obama, like any President, would love to wave a magic wand and solve all of America's problems overnight........... aint gonna happen no matter who is President.
President Obama is turning the economy around In only three years which is pretty remarkable considering the HUGE hole that America was in when he took office.
The Republican party has had three years to rebuild their party and make it viable again but instead has just spent the whole three years trying to bring down Obama, that is a big part of the reason why there is stalemate in Washington and the current nominees of the GOP are all pretty pathetic. The GOP itself are extremely unhappy with current quality of nominee and that alone speaks volumes.
The Republican party should now spend the next 4 years in building a viable party if it wants to lead the country but at the moment it is fractured and broken..... not a recipe for becoming the next administration in the Whitehose..... quite the opposite.
Obama will have a fight on his hands as the right will vote for ANYONE against Obama but that doesn't mean they are voting for America..........
See, that's where you are wrong. At that level of cost pretty much ALL investment DOES come from credit - either that or stock swaps (which - with the stock market in collapse at the time was NOT going to happen). Even investors with deep pockets - and there's not very many of those with pockets deep enough for the cash infusion the car companies needed (they are after all some of the absolute biggest firms on the planet) - generally borrow funds for such large purchases in order to minimize the risk to their personal investment. And as I said, NO ONE was willing loan money out - NO ONE - and not just for THIS purchase - the credit markets were in panic mode so NO ONE WAS LOANING MONEY TO ANYONE FOR ANY PURPOSE. Those who had cash were holding on to it tight (otherwise GM would have been able to borrow money itself to get it through the downturn - as Ford had done a year or so earlier (when credit was still available)). And if NO ONE bought the assets - well then there was only 1 possible outcome - total collapse of both GM & Chrysler, probable collapse of their suppliers, and probable collapse of Ford AS WELL (Ford officials were very frightened of what would happen to their supply chain if GM & Chrysler went under). The underlying problem was NO just that GM & Chrysler were mismanaged - though they were - they problem was the lockup of the credit markets. NOTHING was functioning as it normally would.
As mentioned - Ford didn't need a bailout because they had ALREADY borrowed money. However, without suppliers for their parts FORD would have had to shut down too. And and since Ford shared the same suppliers wth GM & Chrysler, the cancelation fo GM & Chrysler orders would likely have resulted in the bankruptcy of the suppliers - which would have meant NO PARTS for FORD EITHER. The Big 3 shared many of the same suppliers. It wasn't JUST a matter of GM & Chrysler going under - Ford would likely have gone under as well through NO fault of their own. Your view of the situation is wayyyyyy too incomplete and simplified - and does not take everything into account.
Ken
So what your saying is KEN that companies can borrow, not make a profit, employee thousands on thousands of people and some how never go bankrupt. GM was in the RED PERIOD and it was not the first time is was recused by the government. The company in some sense no matter what they do will always be protected because government RUNS the economy and line of credit. Where does the the credit come from Ken.... the FED?
Who created this easy credit line, easy free homes market...the government and the FED right Ken. What I find interesting is the so called DOOMS DAY don't read the bill just sign the dotted line and save that companies we want too sounds alot like something else to me. What Ken seems to want is a market that is controlled by credit and saved by credit of the American tax payer for all companies.
Is that what your saying KEN? Make a bad product, make bad union deals that bankrupt your company but its ok in order to keep order and votes and the illusion that the government is control we will protect them. Looks more like government creates a problem and comes to the rescue even thou they in many ways helped CREATE the problem. What is interesting KEN is that no small businesses are protected, mom and pop stores they have no union deals, no bailout or lobbyist in washington save them.
The princple of bailout and not allowing normal bankrupty means government and corporations had to much to HIDE from the AMERICAN people and yet still put them on the hook to save everyone. The only thing that happened here was the FED seemed to find NEW MONEY (Print it) when congress gave the ok to do it. This printing money, and going in debt effects millions of companies and instead of PAYING the piper they just made other people pay for it. Socializing the losses with socialism. The people at fault are government, Ceo's who run their business in the ground and all of them seem to have a job while unemployeement is still 9 %. Government allowed **** POOR decisions to continue at GM so the FED and government can take credit for printing FAKE MONEY and passing the labor and work and debt to the American people.
Not sure if any previous President has had such a huge mess to clear up when elected.
Does FDR ring a bell
FDR inherited a 24.1% unemployment rate and the Great Depression after Hoover.
Reagan inherited interest rates in the low 20% and the failure of our
Savings and Loans, which continued under Bush Sr.
Those are just fiscal disasters. We can go on and on about Presidents that
inherited military disasters - FDR/Pearl Harbor, Nixon/Vietnam, Bush Jr/9-11
and on and on.....
What they had and Obama lacks, Is a steadfast, concise leadership role -
whether it was right or wrong.
Obama supporters have to quit with the excuses and demand Obama
act as a leader, not a cheerleader.
Yes. Because the President sets gas prices all by himself.
Unfortunately some people are so economically confused that they actually think that the POTUS can and should have the ability to try and control gas prices.
You have some facts to back up your claim of Bush's involvement in the ending of the Iraq war?
As for the bailout of the American auto industry You righties have been trashing and bashing Obama for years about that bailout and now that it seems like it was a brilliant move to save millions of jobs you are now giving Bush the credit? absurd!
What's absurd is the notion that the bailout saved millions of jobs. You have some facts to back up your claim? Chrysler and GM combined don't even employee millions of people worldwide, so how exactly did they save millions of jobs in this one country alone?
More of that fuzzy math rearing it's ugly head from the Al Gore book of economics.
Oh, you meant million in Union dollars, now I get it.
Unfortunately some people are so economically confused that they actually think that the POTUS can and should have the ability to try and control gas prices.
Exactly! Because if that were the case, gas would be at $8-10 per gallon today, which is what Obama is shooting for so all these green energy companies he's loaning our money to will quit going bankrupt.
Unfortunately some people are so economically confused that they actually think that the POTUS can and should have the ability to try and control gas prices.
Newt can. Vote for Newt!
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