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Obama,fiscal folly

highrider

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Obama;
He forced TARP money on banks then refused to let the banks pay it off. Then used it as a lever to deny employees a raise. While granting huge raises and new benefits to his favored groups.
He reduced employee healthcare benefits through elimination of flexible spending accounts for many common items, then imposed payroll taxes on working people - all to shift the cost of this welfare to working people. Then increases the cost of everyone’s insurance premiums.
He undermines the integrity of the Social Security fund by lowering taxes by 1/3. The slammed working people with a 2% pay reduction when he reimposed it.
He used the Fed to generate “funny money” by selling treasury bonds to the fed because the interest rates were so low he couldn’t cut rates any further. Those low interest rates robbed people like me of any growth in their retirement funds. Our economy is still suffering from this and thank God Trump has since been paying off those bonds and rates have started increasing again.
Obama’s Artificially low interest rates did nothing to create wealth but created huge inflation, which is why in the last 10 years home prices have doubled, gas has doubled, groceries have doubled, etc. All on the backs of retired working people’s savings accounts which were locked out of any earnings.

I could go on and on, but working people like me had enough which is why Trump is President.
 
Obama;
He forced TARP money on banks then refused to let the banks pay it off. Then used it as a lever to deny employees a raise. While granting huge raises and new benefits to his favored groups.
He reduced employee healthcare benefits through elimination of flexible spending accounts for many common items, then imposed payroll taxes on working people - all to shift the cost of this welfare to working people. Then increases the cost of everyone’s insurance premiums.
He undermines the integrity of the Social Security fund by lowering taxes by 1/3. The slammed working people with a 2% pay reduction when he reimposed it.
He used the Fed to generate “funny money” by selling treasury bonds to the fed because the interest rates were so low he couldn’t cut rates any further. Those low interest rates robbed people like me of any growth in their retirement funds. Our economy is still suffering from this and thank God Trump has since been paying off those bonds and rates have started increasing again.
Obama’s Artificially low interest rates did nothing to create wealth but created huge inflation, which is why in the last 10 years home prices have doubled, gas has doubled, groceries have doubled, etc. All on the backs of retired working people’s savings accounts which were locked out of any earnings.

I could go on and on, but working people like me had enough which is why Trump is President.

I thought that the banks did pay off all the TARP loans. Do you have a link showing that they didn't or weren't allowed to?
 
Obama;
He forced TARP money on banks then refused to let the banks pay it off. Then used it as a lever to deny employees a raise. While granting huge raises and new benefits to his favored groups.
He reduced employee healthcare benefits through elimination of flexible spending accounts for many common items, then imposed payroll taxes on working people - all to shift the cost of this welfare to working people. Then increases the cost of everyone’s insurance premiums.
He undermines the integrity of the Social Security fund by lowering taxes by 1/3. The slammed working people with a 2% pay reduction when he reimposed it.
He used the Fed to generate “funny money” by selling treasury bonds to the fed because the interest rates were so low he couldn’t cut rates any further. Those low interest rates robbed people like me of any growth in their retirement funds. Our economy is still suffering from this and thank God Trump has since been paying off those bonds and rates have started increasing again.
Obama’s Artificially low interest rates did nothing to create wealth but created huge inflation, which is why in the last 10 years home prices have doubled, gas has doubled, groceries have doubled, etc. All on the backs of retired working people’s savings accounts which were locked out of any earnings.

I could go on and on, but working people like me had enough which is why Trump is President.

Most if not all banks paid back 100% of the TARP loans with interest, so I'm not sure why you think you can just come on this forum and flat out lie. Also, pretending the banks didn't want the TARP bailouts is even more ridiculous.
 
Obama;
He forced TARP money on banks then refused to let the banks pay it off. Then used it as a lever to deny employees a raise. While granting huge raises and new benefits to his favored groups.
He reduced employee healthcare benefits through elimination of flexible spending accounts for many common items, then imposed payroll taxes on working people - all to shift the cost of this welfare to working people. Then increases the cost of everyone’s insurance premiums.
He undermines the integrity of the Social Security fund by lowering taxes by 1/3. The slammed working people with a 2% pay reduction when he reimposed it.
He used the Fed to generate “funny money” by selling treasury bonds to the fed because the interest rates were so low he couldn’t cut rates any further. Those low interest rates robbed people like me of any growth in their retirement funds. Our economy is still suffering from this and thank God Trump has since been paying off those bonds and rates have started increasing again.
Obama’s Artificially low interest rates did nothing to create wealth but created huge inflation, which is why in the last 10 years home prices have doubled, gas has doubled, groceries have doubled, etc. All on the backs of retired working people’s savings accounts which were locked out of any earnings.

I could go on and on, but working people like me had enough which is why Trump is President.

And don't forget how Lyndon Johnson used to act. What about that?

****sakes. Obama guided your economy out of the worst recession since I don't know when, a recession he inherited when he won the first election. A recovery that Trump inherited and the whole damn GOP has been falling over itself taking credit for. Trump's biggest accomplishment, the only thing he can take credit for, is not actually torpedoing that recovery. Yet.

And that's not why Trump is President. You don't want to hear the real reason.
 
And don't forget how Lyndon Johnson used to act. What about that?

****sakes. Obama guided your economy out of the worst recession since I don't know when, a recession he inherited when he won the first election. A recovery that Trump inherited and the whole damn GOP has been falling over itself taking credit for. Trump's biggest accomplishment, the only thing he can take credit for, is not actually torpedoing that recovery. Yet.

And that's not why Trump is President. You don't want to hear the real reason.

Interesting that our newest member has yet to reply on the brand new thread. His very first post. Maybe he thought he could spout nonsense and be greeted with open arms and fawning agreement.
 
Obama;
He forced TARP money on banks then refused to let the banks pay it off. Then used it as a lever to deny employees a raise. While granting huge raises and new benefits to his favored groups.
He reduced employee healthcare benefits through elimination of flexible spending accounts for many common items, then imposed payroll taxes on working people - all to shift the cost of this welfare to working people. Then increases the cost of everyone’s insurance premiums.
He undermines the integrity of the Social Security fund by lowering taxes by 1/3. The slammed working people with a 2% pay reduction when he reimposed it.
He used the Fed to generate “funny money” by selling treasury bonds to the fed because the interest rates were so low he couldn’t cut rates any further. Those low interest rates robbed people like me of any growth in their retirement funds. Our economy is still suffering from this and thank God Trump has since been paying off those bonds and rates have started increasing again.
Obama’s Artificially low interest rates did nothing to create wealth but created huge inflation, which is why in the last 10 years home prices have doubled, gas has doubled, groceries have doubled, etc. All on the backs of retired working people’s savings accounts which were locked out of any earnings.

I could go on and on, but working people like me had enough which is why Trump is President.

He didn't 'FORCE' TARP money on banks! Bush signed the $700 billion bank bailout bill on October 3, 2008!

1 – Rescued the country from the Great Recession, cutting the unemployment rate from 10% to 4.7% over six years
2 – Signed the Affordable Care Act which provided health insurance to over 20 million uninsured Americans
3 – Ended the war in Iraq
4 – Ordered for the capture and killing of Osama Bin Laden
5 – Passed the $787 billion America Recovery and Reinvestment Act to spur economic growth during the Great Recession
6 – Supported the LGBT community’s fight for marriage equality
7 – Commuted the sentences of nearly 1200 drug offenders to reverse “unjust and outdated prison sentences”
8 – Saved the U.S. auto industry
9 – Helped put the U.S. ontrack for energy independence by 2020
10 – Began the drawdown of troops in Afghanistan
11 – Signed the Deferred Action for Childhood Arrivals allowing as many as 5 million people living in the U.S. illegally to avoid deportation and receive work permits
12 –Signed the Dodd-Frank Wall Street Reform and Consumer Protection Act to re-regulate the financial sector
13 – Dropped the veteran homeless rate by 50 percent
14 – Reversed Bush-era torture policies
15 – Began the process of normalizing relations with Cuba
16 – Increased Department of Veteran Affairs funding
17 – Signed the Credit Card Accountability, Responsibility, and Disclosure Act
18 – Boosted fuel efficiency standards for cars
19 – Improved school nutrition with the Healthy Hunger-Free Kids Act
20 – Repealed the military’s “Don’t Ask, Don’t Tell” policy
21 – Signed the Hate Crimes Prevention Act, making it a federal crime to assault anyone based on sexual or gender identification
22 – Helped negotiate the landmark Iran Nuclear Deal
23 – He signed the Lilly Ledbetter Fair Pay Act to combat pay discrimination against women
24 – Nominated Sonia Sotomayor to the Supreme Court, making her the first Hispanic ever to serve as a justice
25 – Supported veterans through a $78 billion tuition assistance GI bill
26 – Won the Nobel Peace Prize in 2009 “for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples”
27 – Launched My Brother’s Keeper, a White House initiative designed to help young minorities achieve their full potential
28 – Expanded embryonic stem cell research leading to groundbreaking work in areas including spinal injury treatment and cancer
 
He forced TARP money on banks then refused to let the banks pay it off.
lol... no, banks paid back TARP.


Then used it as a lever to deny employees a raise.
Uhhh... No. The public was furious that financial firm employees were getting bonuses when they lost billions and put the entire global economy at risk. They should have gotten jail time, not bonuses.


While granting huge raises and new benefits to his favored groups.
Try again. Obama was in no position to "grant raises" to anyone.


He reduced employee healthcare benefits through elimination of flexible spending accounts for many common items, then imposed payroll taxes on working people - all to shift the cost of this welfare to working people.
More bull****. Flex spending wasn't impacted by the ACA, and the stimulus cut payroll taxes for several years.


Then increases the cost of everyone’s insurance premiums.
Wow. Did you miss how insurance premiums were rising by double digits for more than a decade before the ACA went into effect?


He undermines the integrity of the Social Security fund by lowering taxes by 1/3. The slammed working people with a 2% pay reduction when he reimposed it.
Are you going to say anything true in your post?


He used the Fed to generate “funny money” by selling treasury bonds to the fed because the interest rates were so low he couldn’t cut rates any further. Those low interest rates robbed people like me of any growth in their retirement funds.
Nope, you're not going to say anything true.

The Fed does not take marching orders from the President -- that's one reason why Trump is constantly attacking the Fed and trying to appoint incompetent stooges there. Bernanke was a Bush 43 appointee, and an expert on the Great Depression, who knew what needed to be done. If they hadn't acted, the US would have gone into a deflation, which would have been a disaster for the global financial system -- and would have done much more damage to your retirement funds than keeping interest rates low.

Oh, and in the same way that you missed over a decade of health insurance premiums rising, you also missed around 20 years of the Fed driving down interest rates; during the Bush 43 years, it fell below 2%. Interest rates hit near-zero because previous administrations failed to get rates more back to normal, giving Bernanke few options.


Our economy is still suffering from this and thank God Trump has since been paying off those bonds and rates have started increasing again.
Bwahahaha

I don't know how you missed it, but Trump doesn't want the Fed to get back to normal. He's infuriated that the Fed is inching up rates by a few basis points every few months. If he had his way, we'd be back at near-zero rates. He also has absolutely no understanding of how the Fed actually works or what it does, including how it doesn't take orders from him (see above). Hence he has nothing to do with the monetary base slightly dropping.


Obama’s Artificially low interest rates did nothing to create wealth but created huge inflation....
More lies. Inflation has been below 3% since Obama started his term.

Obama didn't do everything right. But for the most part, he did what needed to be done.


which is why in the last 10 years home prices have doubled, gas has doubled, groceries have doubled, etc.
Yaay, more bull**** and lies!

• Even when inflation is low, it adds up. With 2% inflation, prices will still increase 50% after 10 years.
• Home prices cratered by 2010. Prices are about 10% above the 2006 peak.
• Adjusted for inflation, gas cost $2.54/gal in 2009, and now costs $2.36. It's at a 3-year low, by the way.
• Food inflation has been below 4% for the past 10 years, mostly around 2%.


I could go on and on, but working people like me had enough which is why Trump is President.
You mean, you voted for an incompetent megalomaniacal goon who is happy to trash the entire US economy to feed his own ego, because you completely failed to understand how Obama and Bernanke basically prevented another massive global depression? That explains a few things.
 
Interesting that our newest member has yet to reply on the brand new thread. His very first post. Maybe he thought he could spout nonsense and be greeted with open arms and fawning agreement.

The day's young yet. The high-fives are coming.
 
Obama;
He forced TARP money on banks then refused to let the banks pay it off. Then used it as a lever to deny employees a raise. While granting huge raises and new benefits to his favored groups.
He reduced employee healthcare benefits through elimination of flexible spending accounts for many common items, then imposed payroll taxes on working people - all to shift the cost of this welfare to working people. Then increases the cost of everyone’s insurance premiums.
He undermines the integrity of the Social Security fund by lowering taxes by 1/3. The slammed working people with a 2% pay reduction when he reimposed it.
He used the Fed to generate “funny money” by selling treasury bonds to the fed because the interest rates were so low he couldn’t cut rates any further. Those low interest rates robbed people like me of any growth in their retirement funds. Our economy is still suffering from this and thank God Trump has since been paying off those bonds and rates have started increasing again.
Obama’s Artificially low interest rates did nothing to create wealth but created huge inflation, which is why in the last 10 years home prices have doubled, gas has doubled, groceries have doubled, etc. All on the backs of retired working people’s savings accounts which were locked out of any earnings.

I could go on and on, but working people like me had enough which is why Trump is President.

If I recall the Tarp program was instituted during the last days of the Bush administration and Sec Treasury Paulson. Or is my memory wrong on this one?
 
I thought that the banks did pay off all the TARP loans. Do you have a link showing that they didn't or weren't allowed to?

You thought right and that goes for the entire bailout as well. This article is the usual rightwing BS. TARP was only part of the entire bailout. And the resulting surplus revenue for the treasury from that was calculated to be $350B.
https://www.washingtonpost.com/business/economy/bailout-highly-profitable-for-taxpayers-when-you-look-at-the-right-numbers/2015/01/01/dc2a05a6-8fa5-11e4-a412-4b735edc7175_story.html

The rightwing can be counted on to do at least three things when the subject of deficits or spending comes up: demonstrate total ignorance of arithmetic, lie its ass off and make everything much worse when they get control of the levers as they've proved now with each one of the past 4 R presidents and Congresses they've controlled.
 
I could go on and on, but working people like me had enough which is why Trump is President.

If Obama were allowed to run for a third term, Trump wouldn't be President. It would have been a most crushing defeat: The Statesman vs. The Asshole.

All that aside... i noticed you failed to produce evidence to support your claims.
 
If Obama were allowed to run for a third term, Trump wouldn't be President. It would have been a most crushing defeat: The Statesman vs. The Asshole.

All that aside... i noticed you failed to produce evidence to support your claims.

yep. The only reason trump won is because biden decided not to run. Biden would not have lost states like wisconsin, michigan, ohio, and pennsylvania.
 
yep. The only reason trump won is because biden decided not to run. Biden would not have lost states like wisconsin, michigan, ohio, and pennsylvania.

....eh....

Biden wouldn't have won, because the DNC decided that it was Hillary's turn. The Dems didn't win because they didn't allow the primary process to pick the people's choice.
 
....eh....

Biden wouldn't have won, because the DNC decided that it was Hillary's turn. The Dems didn't win because they didn't allow the primary process to pick the people's choice.

To be honest, I think it would be harder to set up the primary against biden than it would be against sanders.
 
Obama;
He forced TARP money on banks then refused to let the banks pay it off. Then used it as a lever to deny employees a raise. While granting huge raises and new benefits to his favored groups.
He reduced employee healthcare benefits through elimination of flexible spending accounts for many common items, then imposed payroll taxes on working people - all to shift the cost of this welfare to working people. Then increases the cost of everyone’s insurance premiums.
He undermines the integrity of the Social Security fund by lowering taxes by 1/3. The slammed working people with a 2% pay reduction when he reimposed it.
He used the Fed to generate “funny money” by selling treasury bonds to the fed because the interest rates were so low he couldn’t cut rates any further. Those low interest rates robbed people like me of any growth in their retirement funds. Our economy is still suffering from this and thank God Trump has since been paying off those bonds and rates have started increasing again.
Obama’s Artificially low interest rates did nothing to create wealth but created huge inflation, which is why in the last 10 years home prices have doubled, gas has doubled, groceries have doubled, etc. All on the backs of retired working people’s savings accounts which were locked out of any earnings.

I could go on and on, but working people like me had enough which is why Trump is President.

"Amazing, every word of what you just said... was wrong" - Applies to this OP.
 
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