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Obie did a $900+ billions bailout, Bush did a $700+ billions bailout; Nancy Pelosi said that Bush`s bailout, which was less, was a disgrace, (Maybe she called it a disgrace because she felt it should have been more). However, when it was Obie`s turn to do a bailout, which was a lot more than Bush`s, Pelosi was happily cranking away at printing those billions. Getting back to my question, how does Obama know for sure that we would be worst off if he had not done the bailout but is mum about the results of Bush`s bailout. Are we supposed to believe that it was only his bailout that supposedly has us better off? Although I don`t know anyone who is better off now than before Obama took over, do you? For that matter, how can he say that at all since no one knows weather we would be better off without his bailout, which was mostly spent on banks, GM, Chrysler, GE & lest we forget the AIG bonuses for their CEO`s, GM`s Union employee retirements & various other Democrat pet projects.
Michael N is a bit confused since he gave full credit for the auto bailout to Obama when in fact George Bush gave the first bailouts of $16 billion in December 2008 the biggest difference is that Bush did not fire the CEO of GM as a condition of receiving the money. All of the money lent to the banks by the Bush administration has been repaid, most of the money Obama has lent has been repaid. The sick thing is that the interest from these loans was supposed to go back to the US Treasury but instead it went to fund a pet project of Barney Frank. Obama's stimulus package was supposed to create jobs, some of that money was used to cut some taxes but it was barely noticeable in ones paycheck. Somewhere along the line the definition of what the jobs stimulus changed. Originally it was stated to CREATE as many as 3 million new jobs but was later changed to SAVE or CREATE. None the less each job saved or created cost the tax payers about $244,000 per job. Piglosi calls it a disgrace, didn't her party have a 58% majority in the house at the time this bill was being passed and didn't the senate have a 60 seat majority? Republicans would have been powerless to do anything to stop it. Bush could not have afforded to veto the bill so she could have had her way. The money that went to infrastructure projects Obama said that those jobs would be done by organized labor because he did not want a work stoppage to cause the work not to be done. Apparently the idiot has not idea that the only time work stops is when union labor goes on strike, giving the jobs to the unions carried a much higher risk of stoppage than if it had if regular folks did the job @update@ I see that Michael N changed his answer so as to not appear to give all credit to Obama for the auto industry bailout. WTG Michael You say that the stimulus was to small. Perhaps a calculator would help you to see that the stimulus package amounted to giving every person in the United States $2,79.21. With an average family size of 3.14 ( that means that each family could have received a check for $8,767.53 which would be equivalent to receiving 2 months pay based on average income Giving the money to the people would have done far greater good for the economy than it has proven to do thus far.
That is the thing he does not know and neither do we BUT we can look at things now that all that money was wasted by GW and obozo. Lets look at a few things, obozo and clan gave money to the states for teachers, mississippi well now that money is running out so the same teachers that were going to be let go are NOW going to be let go. JOBS and obozo, he said that any government road job or what ever would have to be done by union workers, that is all well and good but what about the little guy?? And the union wage is twice what a non union wage is. So we got LESS for our money. I could go on and on but all that money that obozo and the witch pelosi and that moron reid spent was just burned between all that crap and the waste and theft even though biden was supposed to watch every cent, (what a joke that is) What we really have to look at is the people in Washington, it was 535 of them that created this entire mess that they now just throw onto OUR laps. They ALL should be removed and replaced with some rules and laws that actually give the people control over them, this way it can be "We The People" once again.
Bush did the same, but Obama should have left it at that. That stimulus money laid around for months without doing anything. Don't know but what it maybe still is. GM has paid it back. Ford (more power to them) refused to get any of that bailout money. GE finances Iran and got by without paying ANY taxes at all. Scott Walker here in Wisconsin and Judge Prosser are trying really hard to implement that no more collective bargaining law to get the state out of debt. The unions in this country are bleeding us dry and all they do is sit on their fat butts and collect fees.
Of course not. Surely you know by now there are two sets of rules. One for Republicans and one for Democrats. The left wing liberal Democrat bias media always spins the story to be supportive of Democrats. You can only imagine the outrage over Weiner if he were a Republican. You can only imagine the outrage with the unemployment if the President was a Republican. And the same applies for the stimulus. Wonderful idea if you a Democrat President but a costly waste of money if you are a Republican.
Obie Wan Kenobe is a follower, not a Leader. Unlike his Star Wars counterpart who is knowledgeable about the events of the day, Obama just skips along to the latest Rap Tunes on his Chicago Boom Box.
Yes, it is similar, and he can't know for sure. one clear indicator is that all of the funds Bush advanced to the banks will apparently be returned [offsetting losses with gains], but that can not be said for the auto industry -- which is Obama's deal.
Obama likes to hear himself talk... he just helped his corporate buddies and paid back favors.. don't be fooled into thinking he was doing anything for us little people.. We without jobs or houses!
Anyone with the least understanding of economics would have to agree with Obama. Not only did the stimulus turn the economy around, but the auto industry is turning a profit and rehiring now. There is still a very long way to go. The stimulus was too small, and in a repeat of 1937, obstructionist Republicans are pushing negative growth policies that extend the recession and make it deeper. Some are even talking of defaulting on the debt--not because anyone thinks it is the right thing to do, but because it would be politically embarrassing for the president.
That's kind of like how he talks about all the jobs he " saved' there is no measure to it.. he has no way to guarantee that. He is just talking smoke.. and it is all up his a ss!
You are confusing the bank bailout (the Troubled Assets Relief Plan) with the stimulus (the American Recovery and Reinvestment Act). Two different things.