Tommy2Tone84 wrote:Moggio wrote:^^^^^^^^^^^^
The US National Debt when Bush Jnr. exited in 2009:
10.6 TRILLION
The current US National Debt under Obama (more than ALL 40+ Presidents COMBINED and in ONLY less than 4 years):
16.8 TRILLION+
Try again Moggio
http://www.snopes.com/politics/politici ... aldebt.asp
That doesn't detract from ANYTHING I've stated.
Holy jumping shit-balls, you're stupid.
Stoner wrote:I see a deficit that is shrinking for the first time in a long time and an economy that was saved from free fall. I admittedly haven't seen an actual formalized plan, but I'm not here to quibble about semantics. What I HAVE seen are policies and logic that were successfully implemented (for example, HARP, MHA, and The American Recovery and Reinvestment act) and I can see that things are heading in a much better direction economically than they were in 2008.
You can't be serious?!
Obama handled the Housing Bubble Crisis and recovery in the WORST way imaginable. Believe it or not, it was a crash that NEEDED to let run its course, so the creation of the imminently-bursting Currency/Treasuries Bubble that is now on the horizon, could be avoided. But instead, Obama's socialistic Keynesianism BS got in the way and clogged the economy up like a shit-filled toilet. He apparently thinks that over-seeing the printing of $100 BILLION per month and borrowing over $3 BILLION per day is somehow going to offset this mess and push the economy in the right direction, despite the FACT it's not happening. Also, interest and inflation rates now have to be ARTIFICIALLY manipulated at 0% or nearly 0%, otherwise the REAL crash would've already happened. And hence, any economic growth that's currently happening is ARTIFICIAL. What Obama's essentially doing is creating a Currency/Treasuries Bubble. And when it bursts in the next few years, we will be going into a DEPRESSION, which will make the current crisis look like a fucking PICNIC.
But wait, there's more: there are now 47+ million Americans on food stamps, as opposed to the 32 million 5 years ago. And the Employment Rate (or Labor Participation Rate) is the lowest its been since May of 1979 at 63.3% (despite the fact the population has grown over 40% since that point) and has consistently dropped almost every month since early 2000.
Many UK/European nations are worse off than we are but not only because of the complexities surrounding the Euro and the affects of the Housing Bubble Crisis but also because they have more socialist policies embedded within their Mixed Economies than we do. Yes, that's right...the US does NOT live in a Capitalist Economy and hasn't since the Roaring Twenties. If they did, since Capitalist Economies don't ALLOW bailouts or minimal to no Government interference in the markets, the bankers wouldn't have had the incentive to create the Housing Bubble in the first place because they'd be more than aware that they would NOT be getting a bailout...and hence, the Housing Bubble Crisis would've NEVER happened, nor would we have to worry about the existence of the imminently-bursting Currrency/Treasuries Bubble. It's better to have ONE crash and ONE recovery than TWO. But unfortunately, that shit-filled toilet is about to explode!
One may ask, out of all the countries that were affected by the Housing Bubble Crisis, was there a nation that handled the crisis the CORRECT way? Yes, there was. It was Iceland. In short, they did NOT bail out the banks and instead jailed the bankers. And as a result, their recovery only lasted less than two years. They are now back to prosperity.
This begs another question. And that is, why didn't Obama adopt principles from the Austrian or Chicago School of Economics or implement similar tactics to correct this mess like Iceland successfully did? Well, let's just say, apart from him not knowing JACK SHIT ALL about economics, needing to get re-elected and the fact that Goldman Sachs funds a major portion of his campaign, that kind of precluded it...