This undercuts the piece: But it was not as big
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Posted On: 05/18/2018 8:44:01 AM
Re: wowhappens28 #11780
This undercuts the piece:
How many times do we have to go over this? The economy was at a precipice. If Bush had not done the bridge loans to the auto companies and signed the TARP Bill then he would have handed over a depression rather than 'just' the deep recession.
Government is always the spender of last resort when demand dries up in the private sector. Basic economics. See the Great Depression
Add the financial disaster of the overleveraged banks and, yes, Obama had no choice but to do a Stimulus, which also included tax cuts, and complete the auto company bailout.
McCain would have been confronted with the same realities and would have had no better choices than Obama had.
I don't know why it is so hard for you to grasp that it was a far, far more serious financial crisis than your facile partisan arguments credit it as being.
No, Gore did not claim to 'invent the Internet'. He WAS instrumental in crafting the legislation that goosed it though. Look it up.
Clinton did not 'inherit' the Internet. He did raise taxes though, to much hand wringing from Republicans who predicted a financial disaster rather than a surplus.
And so here we are, the GOP deficit hawks are now 'cut taxes and spend' mfrs, just as many of knew they would be. The results are predictable though.
Perhaps the one point we may agree on.
Quote:
But it was not as big of a disaster as Obama doubling the national debt in for years.
How many times do we have to go over this? The economy was at a precipice. If Bush had not done the bridge loans to the auto companies and signed the TARP Bill then he would have handed over a depression rather than 'just' the deep recession.
Government is always the spender of last resort when demand dries up in the private sector. Basic economics. See the Great Depression
Add the financial disaster of the overleveraged banks and, yes, Obama had no choice but to do a Stimulus, which also included tax cuts, and complete the auto company bailout.
McCain would have been confronted with the same realities and would have had no better choices than Obama had.
I don't know why it is so hard for you to grasp that it was a far, far more serious financial crisis than your facile partisan arguments credit it as being.
No, Gore did not claim to 'invent the Internet'. He WAS instrumental in crafting the legislation that goosed it though. Look it up.
Clinton did not 'inherit' the Internet. He did raise taxes though, to much hand wringing from Republicans who predicted a financial disaster rather than a surplus.
And so here we are, the GOP deficit hawks are now 'cut taxes and spend' mfrs, just as many of knew they would be. The results are predictable though.
Perhaps the one point we may agree on.
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