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GM declares bankruptcy (pg. 31)
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| The17sss |
| quote: | Originally posted by Krypton
Blaming it all on Obama is nonsense. He's only been in office for 5 months. I find it laughable when someone blames Obama for this recession. |
All? No I'm not blaming it all on him. But he is certainly responsible for exacerbating it into something much worse, along with congressional democrats and some republicans. The fact that he has done so much long term damage to the debt/deficit in just 5 months is what's striking. What's going to happen when it's time to pay those debt bills? The very people he claims to champion, the middle class and poor, are going to be even worse off because our money will be worth nothing and massive tax increases will be the only way to pick up the tab. |
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| The17sss |
| quote: | Originally posted by Krypton
Linking unemployment numbers with the stimulus package that hasn't been spent yet is ridiculous. We'r in a recession, unemployment is expected to go up. I wonder why this is such a surprise to you. |
Well, Obama has claimed to have "saved" (lol) 150,000 jobs.... no doubt stimulus related. So, we know that's another falsehood. Just sayin. |
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| Krypton |
| quote: | Originally posted by The17sss
All? No I'm not blaming it all on him. But he is certainly responsible for exacerbating it into something much worse, along with congressional democrats and some republicans. The fact that he has done so much long term damage to the debt/deficit in just 5 months is what's striking. What's going to happen when it's time to pay those debt bills? The very people he claims to champion, the middle class and poor, are going to be even worse off because our money will be worth nothing and massive tax increases will be the only way to pick up the tab. |
For exacerbating the situation? Like preventing a systemic collapse of the financial system? Is that exacerbating the situation? |
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| Krypton |
| quote: | Originally posted by The17sss
Well, Obama has claimed to have "saved" (lol) 150,000 jobs.... no doubt stimulus related. So, we know that's another falsehood. Just sayin. |
Again, linking unemployment rates to a stimulus package which hasn't even been spent yet, in order to make an invalid political point (it's Obama's fault), is ridiculous. |
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| The17sss |
| quote: | Originally posted by Krypton
For exacerbating the situation? Like preventing a systemic collapse of the financial system? Is that exacerbating the situation? |
I'm thinking long term. As I said, the stimulus alone was more debt than all the presidents from Washington to Bush combined. Couple that with all the other bailouts and spending-plus-interest that adds up to about 12 times THAT amount, not including the upcoming universal health care push and FED bailout. What will happen to us when the bill is due? That doesn't trouble you at all? |
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| Krypton |
| quote: | Originally posted by The17sss
I'm thinking long term. As I said, the stimulus alone was more debt than all the presidents from Washington to Bush combined. Couple that with all the other bailouts and spending-plus-interest that adds up to about 12 times THAT amount, not including the upcoming universal health care push and FED bailout. What will happen to us when the bill is due? That doesn't trouble you at all? |
Allowing a systemic financial collapse to happen is both long and short term. What will happen when the bill is due? We'll pay it back...
When this recession is over, I also want this government to balance its budget, and drastically lower expenditures. But I support every move that has been made to avert economic disaster. |
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| The17sss |
| quote: | Originally posted by Krypton
But I support every move that has been made to avert economic disaster. |
The moves by the president weren't done solely for that reason. It was just as much about political strategy, "not letting a good crisis go to waste", and fulfilling a 40 year democrat wish list. You gotta wonder how the economy would have done on it's own if the market were allowed to correct itself by allowing most of those failing institutions to fail on their own. Rewarding poor management and behavior sets a poor example. |
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| Krypton |
| quote: | Originally posted by The17sss
You gotta wonder how the economy would have done on it's own if the market were allowed to correct itself by allowing most of those failing institutions to fail on their own. Rewarding poor management and behavior sets a poor example. |
I don't have to wonder. I know. When a citigroup or bank of america go insolvent, bank runs hit, and spread to the other major banks. Lending comes to a halt. The FDIC becomes overwhelmed. The stock market plunges. I don't think you quite realize how bad the situation really is, otherwise, you wouldn't be saying, "let the market fix itself."
| quote: | | The moves by the president weren't done solely for that reason. It was just as much about political strategy, "not letting a good crisis go to waste", and fulfilling a 40 year democrat wish list. |
Please, don't make me laugh... |
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| The17sss |
| quote: | Originally posted by Krypton
I don't have to wonder. I know. When a citigroup or bank of america go insolvent, bank runs hit, and spread to the other major banks. Lending comes to a halt. The FDIC becomes overwhelmed. The stock market plunges. I don't think you quite realize how bad the situation really is, otherwise, you wouldn't be saying, "let the market fix itself." |
I said "most" not "all" failing institutions.
| quote: | | Please, don't make me laugh... |
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| Krypton |
| quote: | Originally posted by The17sss
I said "most" not "all" failing institutions. |
They are letting "most" failing institutions fail. Dozens of banks have been taken over by the FDIC and had their assets sold off. But some financial institutions are so big they pose a systemic risk to the financial system.
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Lay off the Rush Douchebag Show! I can tell a lot of your opinions are based from his radio show. Like blaming Obama for things that happen in a recession. |
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| The17sss |
| quote: | Originally posted by Krypton
Lay off the Rush Douchebag Show! I can tell a lot of your opinions are based from his radio show. Like blaming Obama for things that happen in a recession. |
My opinions are based on general tenants of conservative practices... which I'm not seeing much of these days across the board. |
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| Krypton |
| quote: | Originally posted by The17sss
My opinions are based on general tenants of conservative practices... which I'm not seeing much of these days across the board. |
I don't think conservatism would blame a president in office for just 5 months for a recession, or that unemployment is high, must be Obama's fault. Only Rush and Hannity would be stupid enough to believe that. All I hear from them is blame of EVERYTHING on democrats and Obama. That's conservatism? If that is conservatism, than conservatism is DEAD. |
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