WTL lies and gets caught Wrote:
-------------------------------------------------------
> duhhhhhh Wrote:
> --------------------------------------------------
> -----
> > WTL lies (again) and gets caught (again) Wrote:
> >
> > >
> > > Sorry, you are wrong, once again.
> > >
> > >
http://thomas.loc.gov/home/approp/app09.html
> > >
> > > Obama was operating on a CR only until 3/6/09.
>
> > > Look at the appropriation bills that passed
> > AFTER
> > > Obama took office (with Democrats in control
> of
> > > both chambers). You've got the stimulus,
> > another
> > > CR, an omnibus, and cash for clunkers. NONE
> OF
> > > THAT WAS UNDER BUSH.
> > >
> > > I realize you think you can get away with
> > blaming
> > > Bush for everything, but Obama has fucked up
> > just
> > > as much (if not more).
> > >
> > > People are getting tired of correcting your
> > > misinformation campaign. Either step up your
> > game
> > > or cut it the fuck out.
> >
> >
> >
> >
> > You are just as bad about spreading
> > misinformation.
> >
> > Quoting of budget deficit numbers when in the
> > midst of a massive recession is ridiculous. Of
> > course there are massive deficits, the federal
> > government had to step in and inject large
> amounts
> > of money into our economy in order to keep the
> > recession from being far worse than it actually
> > was.
> >
> > Our economy requires a constant flow of money.
> > Everything from lending for businesses to
> > providing income to workers.
> >
> > In the middle of such a massive recession, the
> > federal government has two choices:
> >
> > 1. Create cash flow
> > 2. Wait for private sector to create cash flow
> >
> > One ideology says fuck everybody, see you on
> the
> > other side if you make it. That's Republican
> > ideology. That's what drove people to vote
> against
> > stimulus packages & against the GM bailout etc.
>
> >
> > The other ideology is that we spend now at the
> > federal level in hopes of righting the economy
> as
> > quickly as possible with as little damage as
> > possible (save for the price tag levied out over
> a
> > number of years). That's the Democratic
> ideology.
> > That's what saved GM, its workers & it's
> vendors.
> > That's what turned us around from shedding
> 250k+
> > jobs a month and a stock market down 50% to
> having
> > positive economic growth for the past 24+
> months,
> > a stock market back to 13k and net positive job
> > gains.
> >
> > The federal spending required to accomplish
> this
> > obviously means you drive a deficit for the
> short
> > term, but historically speaking, the net return
> > over the long term is far more beneficial than
> not
> > doing it.
> >
> > The argument that Obama has been ineffective as
> a
> > President because we're operating in a deficit
> is
> > like saying he failed because he lead us out of
> an
> > economic collapse.
> >
> > Its ridiculous, it's short-sighted and it's
> > misinformation at it's best because at the end
> of
> > the day, if he HADN'T done that, and
> unemployement
> > was at 20% and the stock market was bottomed
> out
> > at 4k, you're the same people that would have
> been
> > up in arms flipping out because he didn't do
> > anything.
> >
> >
> > Just out of curiousity, what would your plan
> have
> > been to turn the economy back around? Cut
> > corporate taxes and let it correct itself?
>
>
> I simply pointed out that WTL is full of shit. I
> made no comment one way or the other regarding
> whether it was the right policy. Obama is bad on
> more than just the deficit. Go unwad your
> panties.
The GM pre-packaged bankruptcy would've been the way to go to fix the banks which we're still spending trillions on, one way or the other. Instead, the Fed rolled them up into too-big-to-fails which we're still supporting. Another Resolution Trust Corp would've been the way to go instead of gradually offloading the inventory from the banks onto the GSEs. Either way, the taxpayer is going to have to clean up the mess made by the banks.