Political Discussions
Explain how this is going to save our country.
Posted by insideskinny • 6/09/09 • Subscribe to this Discussion [RSS] • Report This Topic
Topics: bailout, conservative, Democrat, Economy, Liberal, obama, republican
Please someone explain how the actions of the current administration is going to save our country from economic disaster and not cause more catastrophes.
User Comments
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We've already experienced economic disaster. The current administration is trying to get us out of it.-
Great explanation. Just what I expected. You have no answer. How is what the current administration is doing going to benefit our country.
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spending money always helps everything helps everything. Just look at the people in credit card debt. -
Speaking of drastic actions...
www.businessinsider.com/did-the-government-reject-any-applications-to-repay...
Evidently Wells Fargo never even wanted TARP monies. Go figure.
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"All the king's horses, and all the king's men..."-
Eventually decided to eat egg salad because they finally realized that was all they were ever going to get out of it. -
or--if it was a hot enough sidewalk below the wall--maybe scrambled eggs
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Ten US banks are now in a position healthy enough to start repaying TARP money to the tune of $68 billion. This indicates that the administrations policies are working.
news.yahoo.com/s/ap/20090609/ap_on_bi_ge/us_tarp_winners_and_losers
That is a whole lot better than if the whole US banking system had gone down the toilet. Which is exactly what would have happened without the bail out.
Scaremongering is all good fun for sure but really the US tax payer stands to get much of the bailout money back, it is already happening. Compare this with where the US stood on the brink of meltdown before the credit crunch.
The US and world economies are unlikely to return to the boom times of 2006 but this can be seen as prudent because the boom times where driven by an unsustainable debt bubble. Realistic steady growth is the target for the future and can hardly be described as catastrophic.-
That's pretty much how I see things too.
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Well skinny, had Obama not implemented some sort of drastic economic plan, the unemployment rate in fact would be far worse than it currently is. Economists state that's an undeniable fact. I think, in essence, Obama hopes his stimulus puts more people to work, and that his many investments ultimately do good upon both the economy and the people. I don't believe Obama himself sees what he's doing as flat-out "socialism," nor considers himself anywhere near a socialist, nor would legit socialists consider Obama one; he's just bringing forth very drastic actions in very complex times.
Alas, I also think his economic policies are very flawed. There's far too much unnecessary pork at play (as in, investments in things that I cannot see really paying off), and if his investments do not come to succeed, not only will we be looking at a completely unsustainable deficit, but we'll have driven ourselves into debt like never before.
Keep in mind - right from the get-go, Obama told the American people to hold him accountable on the economy. If things are still bad in 2012, the GOP already has its' platform, and it's a winning one.-
I know there is alot of hope but when does common sense come into play. I just do not see it with this administration.
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"Common sense" meaning what? To my ears that is just a slogan against some vague elite---along the lines of what Palin tried to do during the 2008 campaign, when faith and ideology were supposed to trump know-how. I understand the mistrust some have of elites, but I do not see how "common sense" is going to take care of the issues we're confronting. Your average individual cannot comprehend the complex interplay of the many components of the world's financial systems, markets, and governments. It's hard for extraordinary individuals too. I don't see how we can get by without some expertise, even if the experts need to communicate to us what it is they're trying to do and how they're trying to do it. Accountability matters. But so does know-how.
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insideskinny
The ones that believe the current path will work are the ones that are primarily Keynesian economists. Believing that government can and should use public funds to affect the private sector economy.
In simplest terms, govt. spending creates wealth.
This CAN work, no doubt about it, but there are absolutely no guarrantees, and plenty of economists have counter theories to Keynes.
In the end, if it does work, then we'll be better off than had no action been taken.
The gamble they are playing is that it WILL work, because not even the current administration are silly enough to not see what kind of hole they have dug for us all if it doesn't work. Should it fail, we end up in the same mess we were before with the added debt of trillions in spending like a nice cherry on top.
So far, they are batting 0.000, The GM "Bankruptcy is not an option" sure didn't take long to become an option, with countless Billions spent to keep the company going for a couple of months longer.
And now they are saying that Banks all of a sudden are "strong" enough again to pay back 68 billion, when the pure fact was that the money wasn't needed for these banks to begin with.
oh well, There is always canned goods and ammunition....-
That last line reminds me of the militia movement of the 1990s. And that reminds me of Timothy McVeigh. Just saying.
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Sounds like you haven't been paying attention.... Just saying
www.breitbart.com/article.php?id=D98DCLJG0&show_article=1
..."You're hearing from the people you will always hear from, who will build their own bunkers and stuff," he said. "But then you're hearing from people who usually wouldn't think about this, but now it's in their heads: 'What if something comes to the worst?'"
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