posted on Jun, 18 2009 @ 09:29 PM
Originally posted by posterboy
Well, well, the economy won't tank. In fact, it is going to recover.
The "W' administration had 8 years to go from a budget surplus during the Clinton years to a devastating deficit under "W". The "W" crew did
everything in their power (and that was a lot) to make as much money as they possibly could (that was a lot, too.).
It makes me sick to read all this anti-Obama stuff on here. All those critics, please post everything you would have done starting 01/09 to get the US
out of the @#$-hole the "W" crew got us in.
You are correct nothing Obama could have done could stop the recession, but there is nothing anyone could have done that would. The debt load must be
reduced by at least 50% before we have any chance of recovery and that will take years, there is no instant fix. If you look up the amount of debt as
a % of gdp in our system it is the highest it has ever been, and guess when it was next highest right before the great depression.
Obama and his crew of financial 'gurus' have found a way to make the problem much worse by spending - (wasting is more accurate) far more money in a
bogus effort to 'stimulate' the economy. They are attempting to get people to spend and borrow more, when the entire problem is people have spent
and borrowed way too much. Any idiot can see this cannot possibly work for any amount time, but it is easier politically to throw more money into the
system and buy some time than it is to be truthful with the American people and let them know we are going into a depression.
Obama in 6 months has already increased spending so much we are going to be running a deficit of 2 trillion dollars. The Bush administration's
spending was outrageous yes, but you dare call out Bush with his spending when your hero is running 4 times the deficit of Bush's largest in his
Here is what I would have done, although I fully admit this would not prevent a recession/depression only make it less painful. I would have cut
defense spending to the bone, like 70%, all we really need is nukes and we are safe. I absolutely would not bail out anyone, shifting the losses onto
the American citizens who are not responsible for their failures is criminal in my opinion. I would have done everything in my power to get the
prescription drug entitlement removed. We cannot afford it, and in that bill we are paying as much as 10 times the going rate for drugs sold elsewhere
because the lobbyists did such a good job writing the bill for the drug companies. I would make the FBI's chief job uncovering financial fraud, not
mythical terrorist chasing. There is tons of fraud in the derivatives and other financial instruments that were created and we will not have a healthy
economy until it is all flushed out in the open for everyone to see. I would also put limits on the amounts you can win from malpractice lawsuits and
civil lawsuits in general, ban drug advertising, and encourage the use of generic drugs. There is no good reason we have to pay by far the highest
prices for drugs of any nation in the world other than our government allowing it to happen.
Look the bottom line is the federal government cannot fix the economy, they can only hold it back. They have and continue to do this by not doing
their job of regulating against fraud, lowering interest rates down too levels so low greedy citizens can't resist going into ridiculous levels of
debt, and through forcing the citizens to pay for it's wasteful spending.