Last edited by Conservative; 08-03-11 at 08:23 AM.
No you are not claiming that the numbers aren't weak, rather trying to deflect blame right on que with what the WH handlers over at MSNBC are feeding you. Using your own crystal ball I could just as easily say with the same certainty as you profess that had we not wasted over a Trillion dollars in paying off Obama supporters, the likely event would have been that we'd be wiping our collective brow right now with an improving economy after some real wake up pain.
Instead your argument seems to be that $5Trillion in less than 3 years isn't enough....Tell me, for how long does something have to fail before you actually see it as a failure? Or is that only reserved for the political ideology you disagree with?
TARP was supported by Democrats and opposed by Republicans, although Bush did sign it -- one of the few smart things he ever did. Re: GDP growth -- sorry, I meant to say 1.3%, which was the most recent quarter.
He bailed out union contracts which are state responsibility. That isn't what the stimulus was supposed to do. It has been a failure as shown by the GDP numbers and the debt increase
You are correct that we cannot definitively say what would have happened if another course of action had been followed, but we can make credible assumptions. It is not credible to suggest that pumping over a trillion dollars into the economy didn't stimulate the economy. No one with even a rudimentary understanding of economics would suggest such a thing.
Unions are regulated by the NLRB (National Labor Relations Board) -- not states. What Obama did was save the auto industry and upwards of a million American jobs. Union members are working Americans.
You are distorting numbers. TARP was a huge loss for this country.
j-macOf the $699 billion in total capital, $142 billion has yet to be committed. Of the funds already allocated, Uncle Sam has incurred a total cost of $159 billion. What does that mean?
Recall the number of times that government officials told taxpayers that we would make money on investments in AIG and the like. Well, so far we’ve lost $159 billion dollars across all our TARP investments. The loss is calculated as the difference in funds committed and allocated to securities and the market value of those securities. That loss represents 36% of the funds committed and actually allocated.
Have We Lost Money Under TARP | Sense on Cents