The national debt has jumped by over $6 trillion. The Fed balance sheet is over $4 trillion. That is $10 trillion dollars of debt being pumped directly/indirectly into the economy. That is approximately 10% of the average yearly GDP EVERY YEAR. With that much 'free' money added - the economy should be booming. Add in the record low interest rates for that ENTIRE time and the economy should be absolutely skyrocketing.
But it's not...it's barely moving (except the stock market - which the Fed is indirectly propping up). Even the unemployment rate is ONLY where it is because people are leaving the work force. The U-3 is such a joke that the Fed recently decided to ignore it's previous 6.5% U-3 level as an indicator when it would let interest rates rise again.
If $10 TRILLION dollars thrown at the economy PLUS record low interest rates for the entire time Obama was in office is required just to fuel a semi-stagnating economy - with the rich growing richer every day and the wage gap skyrocketing - then what on Earth will happen when these artificial crutches are removed?
I know - the patient will collapse to the floor in a heap...and the country will still have massive debt to show for it.
And please save the 'yes, but things would be much worse had we done nothing' nonsense.
You have ABSOLUTELY ZERO unbiased, factual proof that America would not be FAR better off now had the economy been left to sort itself out.
And considering almost every single recession in U.S. history (including the 1920/21 depression) ended without any appreciable government assistance, I say America would be FAR better off had Bush/Obama/Fed just butted out.
The American economy is a joke - being propped up (like Japan and much of the EU) on cheap debt. And it will eventually collapse, imo.
And both Obama AND Bush are responsible for this mess...Bush for racking up huge deficits and starting the nonsensical 'low income housing program' which directly led to the boom/collapse (along with the Fed's help - which Bush approved of); and Obama for doing most of the massively stupid things Bush did...only more of them.
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."
Its evident that the Keynesians have no clue of how to spur real economic growth.
Really, a UNPRECEDENTED amount of stimulus, both from the FED and from Obama has only served to perpetuate whats a essentially a stagant economy.
Oh, and build up the new dependent class as the rich get richer.
Not much to brag about if your Obama supporter.
Fenton, you're wrong. Again.
Freedom of speech is not freedom from criticism.