Rob's House Posted July 17, 2012 Share Posted July 17, 2012 Obama supporters persist in claiming Obama "brought us back from the brink." As far as I can see, after 3 1/2 years we're no better off and we'd be better off had he done absolutely nothing. Can anyone point to what he's done to help the economy? Link to comment Share on other sites More sharing options...
B-Man Posted July 17, 2012 Share Posted July 17, 2012 There is ALWAYS a recovery after each of the U.S. recessions. Mr Obama's economic policies delayed our recovery, which makes his constant claim of saving us, all the more pathetic. . Link to comment Share on other sites More sharing options...
meazza Posted July 17, 2012 Share Posted July 17, 2012 Obama supporters persist in claiming Obama "brought us back from the brink." As far as I can see, after 3 1/2 years we're no better off and we'd be better off had he done absolutely nothing. Can anyone point to what he's done to help the economy? The interventions in his early presidency most likely prevented massive bankruptcies but I think any president in that position in his right mind would have made those decisions. Link to comment Share on other sites More sharing options...
UConn James Posted July 17, 2012 Share Posted July 17, 2012 He added regulations that took pre-wage/salary costs for employers up to ~$12K per year. He got passage of the ACA, which means that employers with over 10 employees graciously get to pick up the tab for health insurance. I hear that this policy makes businessowners want to stop looking at their spreadsheets and get out there and hire, hire, hire so they can have the privilege of paying for more healthcare. Rather than approve the Keystone pipeline that would reduce fuel and energy costs, Pres. Obama courageously said 'No' because... why would anyone in business want less expensive fuel sources? We can get by for another 50-100 years until alternative energy / fuels are widely available and perform as efficiently as traditional sources... right? And if we get four more years, just imagine how much more he could do for small businesses!!! Link to comment Share on other sites More sharing options...
DC Tom Posted July 17, 2012 Share Posted July 17, 2012 The interventions in his early presidency most likely prevented massive bankruptcies but I think any president in that position in his right mind would have made those decisions. Yeah, but those crossed both the Bush and Obama administrations. I have a hard time giving either of them full credit for that. Link to comment Share on other sites More sharing options...
B-Large Posted July 17, 2012 Share Posted July 17, 2012 Obama supporters persist in claiming Obama "brought us back from the brink." As far as I can see, after 3 1/2 years we're no better off and we'd be better off had he done absolutely nothing. Can anyone point to what he's done to help the economy? The economcy still lingers for a few reasons, IMHO, what the question is what does a President and Government do about it: 1. Middle Class Americans as an aggregate lost 40% of their wealth in 2007-2008. Americans feel poorer and most desperate, and for the ones heading to retirement in the next 10-15 years, they are paying off debt, their house, and socking money away instead of spending- that is a big issue. What can Government do about it? Lower Taxes, sure that helps, but that doesn't flip spending behavior for people who really got hit. 2. Housing Still Drags- alot of people I know are still and will be underwater for another 10 years if not more. What can Government do? HARP? HAMP? Mortgages dipped to 3.85 earlier this year, but when I owe more than it is worth, forget about it. 3. Stimulus in Relation to Debt- Stimulus, in the form of tax cuts, credits, or simple money for projects was too small to get a 16T economy going again. If the US had zero LTD, then perhaps a 4-5 Trillion dollar stimulus that you intend to pay back in good times makes alot of sense, and is substanial to get the economcy going. But a multi-trillion daollar stimulus when you already have 16 trillion in debt and run 1t+ deficts every year.. no way! Back from the Brink? Not sure what the means, some of the capital market actions taken probably helps keep the economy at least going. At this point the President should be talking about Medicare, SS and Defense and how to reform these outlays and programs to begin bring down the long-term debt, and create budgets that don't run red ink. THIS would give people confidence that Government, both the R's and D's are not imcompetent. Link to comment Share on other sites More sharing options...
/dev/null Posted July 17, 2012 Share Posted July 17, 2012 His name isn't Bush and he won a Nobel Prize Link to comment Share on other sites More sharing options...
Duck_dodgers007 Posted July 17, 2012 Share Posted July 17, 2012 Nothing at all! His bailout of Detroit was a disaster! I'm sure you all will tell me how and why it was Link to comment Share on other sites More sharing options...
B-Man Posted July 17, 2012 Share Posted July 17, 2012 Nothing at all! His bailout of Detroit was a disaster! I'm sure you all will tell me how and why it was U.S. taxpayers to ultimately lose more than $20 billion on the Detroit auto bailout What a success ! ! ! Personally, I coukld have done it for 15 Billion.............................lol Link to comment Share on other sites More sharing options...
Doc Posted July 17, 2012 Share Posted July 17, 2012 What a success ! ! ! Personally, I coukld have done it for 15 Billion.............................lol I thought I heard $45B. $20B is a bargain. Link to comment Share on other sites More sharing options...
/dev/null Posted July 17, 2012 Share Posted July 17, 2012 While we're on the subject of the Detroit bailout, here's another example of what happens when Governemtn picks winners http://newsbusters.org/blogs/seton-motley/2012/07/17/media-fail-chevy-volt-makes-gm-no-money-costs-taxpayers-hundreds-thous Forward! Link to comment Share on other sites More sharing options...
Koko78 Posted July 18, 2012 Share Posted July 18, 2012 I thought I heard $45B. $20B is a bargain. It was $45 billion, until the 57th state chipped in and covered the costs. Link to comment Share on other sites More sharing options...
Adam Posted July 18, 2012 Share Posted July 18, 2012 A more appropriate question is what has the government done to improve the economy. It never comes down to just one person. There has been a lot of demogouging from both the White House and Congress, instead of taking action- which isn't always a bad thing. Link to comment Share on other sites More sharing options...
Chef Jim Posted July 18, 2012 Share Posted July 18, 2012 A more appropriate question is what has the government done to improve the economy. It never comes down to just one person. There has been a lot of demogouging from both the White House and Congress, instead of taking action- which isn't always a bad thing. So Bush recked it but the government fixes it. Ok, I get it. Link to comment Share on other sites More sharing options...
Adam Posted July 18, 2012 Share Posted July 18, 2012 So Bush recked it but the government fixes it. Ok, I get it. No- President Bush did not wreck it. He could have done some things better, but circumstance (ie: 9/11) didn't exactly give him plenty of time to think things through. Link to comment Share on other sites More sharing options...
Rob's House Posted July 18, 2012 Author Share Posted July 18, 2012 Nothing at all! His bailout of Detroit was a disaster! I'm sure you all will tell me how and why it was So far this (a move of questionable ethics and legality at best) is the only move by Obama anyone has thrown out to defend Obama's work on the economy. That's just sad. No wonder all I keep hearing about are tax returns. Obama's got nothing. Link to comment Share on other sites More sharing options...
Chef Jim Posted July 18, 2012 Share Posted July 18, 2012 No- President Bush did not wreck it. Oh I think we could find several million people that disagree with you. Link to comment Share on other sites More sharing options...
John Adams Posted July 18, 2012 Share Posted July 18, 2012 The interventions in his early presidency most likely prevented massive bankruptcies but I think any president in that position in his right mind would have made those decisions. This is true. Tossing around money like candy off a Mardi Gras float definitely calmed things down. But Bush was doing it first--Bush just hadn't yet figured out where it would do the most good when he did QE1. Obama saved the banks balance sheets, which probably helped settle things down more than anything. The Detroit bailout was more or less window dressing so he could say "I saved cars in America." I neither credit him, not particularly blame him, for the economy. McCain would be stuck in a sh%^swamp too. Link to comment Share on other sites More sharing options...
meazza Posted July 18, 2012 Share Posted July 18, 2012 This is true. Tossing around money like candy off a Mardi Gras float definitely calmed things down. But Bush was doing it first--Bush just hadn't yet figured out where it would do the most good when he did QE1. Obama saved the banks balance sheets, which probably helped settle things down more than anything. The Detroit bailout was more or less window dressing so he could say "I saved cars in America." I neither credit him, not particularly blame him, for the economy. McCain would be stuck in a sh%^swamp too. The president doesn't control monetary policy, big ben does. That being said, today's congress session where Bernaeke was answering the same questions over and over was disgraceful. And to Ron Paul, yes we get it, you want to audit the fed and give Congress full power over its decisions which has to be one of the most !@#$ing retarded premises anyone could make. Link to comment Share on other sites More sharing options...
DC Tom Posted July 18, 2012 Share Posted July 18, 2012 So Bush recked it but the government fixes it. Ok, I get it. "Recked"? !@#$ing idiot. Link to comment Share on other sites More sharing options...
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