Chrysler to repay gov't loans next week - another boost for Obama
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Can't rep you again, pghq, but your posts here are excellent. I was paying attention all through the process, too, and read the filings. The orginal bond swap prospectus, essentially written by the Obama administration, is still on my desk as a reminder that we are no longer a nation of laws while this administration is in power.
Most Democrats voted for the bailouts - most Republicans voted against them - and have been railing against them (socialism!) for the past 2 1/2 years.
If they are repaying the government loans with term loans, bonds and an infusion from Fiat, why did the government get involved with what should have been a normal bankruptcy?
Oh yeah, I forgot...
"The White House, presumably car czar Steven Rattner and deputy Ron Bloom, is seeking to transfer the property of one group of people to another group that is politically favored. In the process, it is setting aside basic property rights in favor of rewarding the United Auto Workers for the support the union has given the Democratic Party."
Read more at the Washington Examiner: White House puts UAW ahead of property rights | Michael Barone | Politics | Washington Examiner (http://washingtonexaminer.com/politics/2009/05/white-house-puts-uaw-ahead-property-rights#ixzz1N8Ot5jgZ - broken link)
you missed the Jan 2009 numbers that were up to 32 million receiving food stamps.
Quote:
Originally Posted by JazzyTallGuy
Where was your outrage during the administration of Bush 43 when this economic slide started?
The administration of George W. Bush Jr. was responsible for an over 50% increase in the number of people getting food stamps. The largest increase of any two term presidential administration since they started keeping records.
This is how the number of people on food stamps increased during George W. Bush Jr.'s two terms which started in Janaury 2001.
In addition the number of Americans living below the poverty rate increased faster under George W. Bush Jr. than any other two term president since 1960.
Bush 43
Americans Below The Poverty Level 2001 - 32.907 million 2008 - 39.829 million - increase 21.04%
Overall Population Growth
2001 - 281.475 million 2008 - 301.041 million - increase 6.95%
During the Bush 43 Administration poverty INCREASED more than three times faster than rate of population growth.
For all the hoopla over the Bush Tax cuts they were essentially a "Sugar High". After reaching a high of 4.1% in Q1 2004 and 4.0% in Q2 2004, quarterly GDP was NEVER over 4% for the rest of the Bush 43 terms in office. The economy started SLOWLY sliding downward and Q2 2006 was the last time quarterly GDP was about 3% during his term. The economy continue to slow between 2007 before finally cratering in 2008.
The administration of Bush 43 also had the WORST JOB CREATION RECORD of any two term president since the end of World War II.
The Conservatives PROVED during the term of Bush 43 that:
Tax cuts are NOT a long term sustainable way to achieve economic growth.
Conservative policies actually INCREASE poverty for lower middle class and working poor Americans.
Tax cuts contributed to the budget deficit by lowering revenue at a time when this country was waging two wars and the economy was basically limping along.
Despite the Bush Tax cuts and increasing profits by American corporations the job growth record of the Republican presidential administration was extremely poor despite a very pro-business regulatory environment. About the only people that really benefitted under the policies of the Republican Party were high income individuals and corporations.
So why would anybody with a shred of common sense vote the Republican Party back into the White House based on this p*ss poor tract record unless you are interesting pandering to corporations?
The only question I have is, when the stimulus bill included $300B in increased food stamps, why people are surprised there is an increase in the numbers of those on food stamps.. Thats rather odd.
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