Will the new administration save US?

Page 2 - Seeking answers? Join the Tom's Hardware community: where nearly two million members share solutions and discuss the latest tech.
Status
Not open for further replies.

pepperman

Distinguished
Sep 15, 2009
1,105
0
19,460


Oh boy… where to begin. First of all, I would like to see the sources that led you to those assertions (especially those pertaining to FDR’s ineffectiveness). I am also curious as to whether or not you have ever taken an economics class. If you have (or at least if you had paid attention), you would know that the economy goes through cycles of expansion and recession. The economy was already on the downturn when Obama was nominated (in fact, quite a bit before) so the initial recession cannot be attributed to him.

Next, we can talk about national debt. When Bush took office (or thereabouts, the closest date I could find was for 9/7/00) the government had a budget surplus and a national debt of approx. 5.6 trillion dollars. When he left, it was approx. 9.6 trillion dollars. As for the bailouts; in short they were necessary. I agree with you entirely that I don’t like my money going to the companies whose CEOs and board members made financially unsound decisions that compromised their businesses. However, looking at the bigger picture, were we to let them fail, imagine all of the employees who were employed by those companies, now without a job, bogging down the welfare system, increasing our taxes, and probably by a greater amount than the bailouts.

I now have two words I would like to type: Patriot Act. This amendment was the Bush Administration’s answer to terrorism on the home front. Interesting, the powers the law have given the government hasn’t once been used to apprehend a terrorist; however there are many incidents where they have been used to catch illegal drug users/dealers. They also allow the government to monitor my library checkout list, as well as a fair amount of my internet usage. Under the Bush Administration, more regulations (laws) affecting us, the citizens of the United States, were enacted than most other “conservative” or “liberal” presidents (I use quotes around conservative because I do not believe that Bush is a true conservative for the above-mentioned reasons, and because of this, I place “liberal” in quotes as well).

You stated that “He [Obama, or at least I assume] is completely rebuilding the US economy to be a subsidiary of the government, and we all know how well that works out. Look at any other command economy, such as the former Eastern Bloc states, North Korea, and Cuba and tell me how well that worked out.” Let’s first clear up some possible confusion regarding socialism vs. communism.

Communism, very simply put, is a society where one is equal with his peers, no matter how hard he works, he doesn’t receive any more than his neighbore, and I feel you believe that this is socialism. There has never been a nation in recorded history that has been a purely communistic society, but the closest thing we have to it was the Native American Indian tribes, but that’s another topic.

Socialism, on the other hand, also very simply put, is where the government owns all of the businesses (companies, stores, etc.). We need look no further than our North and our East to see these nations. Most European nations have been of the socialist nature since the end of WWII. They needed to do this in order to pull them out of the terrible depression they were in (wow, sounds a bit familiar, huh?). Granted, we are not in as terrible state as they were, but we are also not doing an entire governmental reform.
 

yelped

Distinguished
Jun 28, 2009
10
0
18,510


WHAT!? I've been against Obama since the beginning! I didn't think for a second that he would actually become elected. I guess I seriously under-estimated the stupidity of the the American Idol-glued American People.
 

pepperman

Distinguished
Sep 15, 2009
1,105
0
19,460
I'm sorry, I should have expressed it in terms of GDP (Gross Domestic Product--basically all the stuff the country gets money for [businesses as well as government]). Our debt in the year 2000 of 5.6 trillion dollars represented about 62% of our nominal (unadjusted) GDP (5.6 trillion/ 9 trillion). Our debt now represents 83% of our nominal GDP (11.9 trillion/ 14.4 trillion). This means that the debt (adjusted for inflation) has increased by 21% in relation to our GDP.
 

HansVonOhain

Distinguished
Sep 24, 2009
512
0
19,010
I just had this discussion at school Ethics class. There are some real interesting speculations by my fellow friends, they are losing hope for the 'Change'

I personally dislike Obama. We should not pull out of Iraq. Look at how much effort we put in. If we pull out right now, that country is a **** hole. We need to stay a little while longer to make Iraq more stable.

Afghanistan might be a right direction, but insurgents have the flexibility to migrate to Pakistan which is allied with US, which is BS. Pakistan is full of traitors that need to get their ass spanked, hard.

Nobel Prize to Obama? Is this a joke? He talks wayyy in general. He talks more than he does for his country. "We'll do this and that and this and this." Where is the end result.

Plus, when Obama got the Presidency, his Agree ratio was at strong 68%. Now it is at mere 48%. People actually change sides, what my brain says.

I am looking at this topic, thinking... Are people have doubts about Obama in this forum?
 

reconviperone1

Distinguished
Nov 23, 2006
1,048
0
19,280
So we moved from a dictatorship with Bush and Cheney(the anti-christ), to something bordering on socialism, people have an issue will his skin color more than his policies, I don't like some of his policies, and some i agree with, but he inherited a shitty job(his choice), and in 9 months has shown the the Usa is as racist and ignorant as it's always been. People call his a socialist, and communist but blindly follow Rush Limbaugh(the true leader of the republicans). I voted for him because frankly, i didnt like the other option, and i thought he was better for the job, I will also vote for Mike Cox(Republican) for governor because he is the best man for the job. I don't have blind loyalty to any party or for that matter any country, people need to stop letting emotions, and prejudice interfere with their opinions. So much rage and anger would be funny, if it wasn't so pathetic.
 

reconviperone1

Distinguished
Nov 23, 2006
1,048
0
19,280
As far as Afghanistan and and Iraq,I think think Afghanistan had to be done, I think it was a very big mistake to remove saddam hussein from power. People in the middle east, Africa,parts of asia, and parts of eastern Europe handle things differently than us, so let than handle it their way. We need to go back to being isolationist like before world war 2 and concentrate on educating these fat,lazy,ignorant,spoiled american kids.
 
The real problem with american politics as in the UK is that there is no choice. You have 2 choices which is no choice at all. If you had two choices of where to buy food, or where to buy computer parts, you would not be happy.

Kinda like the gpu/cpu situation as of now, it is not good.
 

pepperman

Distinguished
Sep 15, 2009
1,105
0
19,460


I entirely agree with you.
 

kelfen

Distinguished
Apr 27, 2008
690
0
18,990
did you know the nobel peace prize is a bunch of Norwegian government liberals that get to decide who gets this prize. This does not come to a shock that Obama won. I think the war should be funded properly unlike obama's being at sea wheather to send more troops as requested from his top general in iraq. also it diserbed me that in 8 weeks obama only talked to him once for like 5m o_O.... Think of liberals like apple and steve jobs that try to control or make you more dependant on them.

its about time we finish the job properly in IRaq
 

kelfen

Distinguished
Apr 27, 2008
690
0
18,990
It might be worth mentioning that Jimmy carter won the nobel peace prize while bush was in office. hmm maybe the liberals were mad at what he was doing. lol
 

kelfen

Distinguished
Apr 27, 2008
690
0
18,990
as far as ACORN and those groups go seems a bit odd that so much corruption is in his administration or is it just me.

health care needs to be adjusted but not the obama way.. simple way would be to allow people to buy accross states to create more compition which is the best way to lower prices and raise compition
 


Sure, here's one for you.

I am also curious as to whether or not you have ever taken an economics class. If you have (or at least if you had paid attention), you would know that the economy goes through cycles of expansion and recession. The economy was already on the downturn when Obama was nominated (in fact, quite a bit before) so the initial recession cannot be attributed to him.

Of course I have taken several economics classes, which is why I know why FDR's policies failed and why Obama's will too.

And about the recession- the start of the recession started about a month or so before the election. There is considerably controversy over whether the possibility of Obama being elected caused the economy to tank. Remember that the big drop in housing prices that caused the banks to not do so well (and which many attribute the large market drop to) happened a couple of years before the markets dropped severely. One would have thought that if the housing bubble bursting was going to bring down the market, it would have done so well before very many people had heard of Barack Obama, not immediately before his election looked likely.

Next, we can talk about national debt. When Bush took office (or thereabouts, the closest date I could find was for 9/7/00) the government had a budget surplus and a national debt of approx. 5.6 trillion dollars. When he left, it was approx. 9.6 trillion dollars.

The reason why the government ran a surplus in the late 1990s was because of the tech boom and that the Republicans controlled Congress since Jan 1995 while Clinton sat in the White House. Not a whole lot of spending or change in governmental regulations occurred due to the gridlock, so the market did very well and tax receipts went up as a result.

As for the bailouts; in short they were necessary. I agree with you entirely that I don’t like my money going to the companies whose CEOs and board members made financially unsound decisions that compromised their businesses. However, looking at the bigger picture, were we to let them fail, imagine all of the employees who were employed by those companies, now without a job, bogging down the welfare system, increasing our taxes, and probably by a greater amount than the bailouts.

So in effect you're saying "let's reward people who did idiotic things simply because there may be a little collateral damage if we don't." The workers employed by these firms that are decent employees will find new jobs if the firm goes under. Look at the BLS statistics if you doubt me. Yes, some suppliers and such may be dinged a little in the process, but that's how business works. Also, if you keep rewarding the people who run these companies for making these bad choices, what are they going to do? They're going to keep making them! The only way the people who run these companies are going to not make bad choices is for us to let them feel the full consequences of their bad choices by not bailing them out.

As far as the "too big to fail"/collateral damage theory- it is bunk. There are no "sure things" in business- you put money at risk investing in a company in hopes that it pays off nicely. But you also have to realize that it may not and you may be out the money you invested. The same is true for working for a company- they may be here and fine one quarter, but they may have made poor choices and you're out of a job the next. Bad things can and sometimes do happen- that is just life.

Also, a lot of people forget that the tech bubble burst in March of 2000 and the economy started to tank when Bill Clinton was in office. But yet the 2000 recession is always pinned on Bush, not on Clinton, while the recession that started a few months before Obama took office is always said to be "inherited" by Obama. So which is it- did Bush inherit Clinton's recession and Obama inherit Bush's, or did Bush and Obama each "cause" one? You have to pick one or the other, otherwise you're changing the rules as you go along to suit yourself.

I now have two words I would like to type: Patriot Act. This amendment was the Bush Administration’s answer to terrorism on the home front. Interesting, the powers the law have given the government hasn’t once been used to apprehend a terrorist; however there are many incidents where they have been used to catch illegal drug users/dealers. They also allow the government to monitor my library checkout list, as well as a fair amount of my internet usage. Under the Bush Administration, more regulations (laws) affecting us, the citizens of the United States, were enacted than most other “conservative” or “liberal” presidents (I use quotes around conservative because I do not believe that Bush is a true conservative for the above-mentioned reasons, and because of this, I place “liberal” in quotes as well).

First of all, nobody brought up the Patriot Act. You're just trying to change the topic from something that you are having trouble defending. Secondly, you wrongly assume that since I oppose Obama's policies that I am some sort of bible-thumping neo-conservative and would support the Patriot Act. I do not support the Patriot Act and never have. You are right about Bush not being a conservative; he was a Republican. Republicans today are not very conservative.

You stated that “He [Obama, or at least I assume] is completely rebuilding the US economy to be a subsidiary of the government, and we all know how well that works out. Look at any other command economy, such as the former Eastern Bloc states, North Korea, and Cuba and tell me how well that worked out.” Let’s first clear up some possible confusion regarding socialism vs. communism.

Communism, very simply put, is a society where one is equal with his peers, no matter how hard he works, he doesn’t receive any more than his neighbore, and I feel you believe that this is socialism. There has never been a nation in recorded history that has been a purely communistic society, but the closest thing we have to it was the Native American Indian tribes, but that’s another topic.

Communism is probably not able to actually be implemented as the implementation always ends up being fascism with a command economy. That is why I said "command economy" and never mentioned communism once. A command economy is where the government owns virtually all of the means of production and directs said production. This is true in several countries.

Socialism, on the other hand, also very simply put, is where the government owns all of the businesses (companies, stores, etc.). We need look no further than our North and our East to see these nations. Most European nations have been of the socialist nature since the end of WWII. They needed to do this in order to pull them out of the terrible depression they were in (wow, sounds a bit familiar, huh?). Granted, we are not in as terrible state as they were, but we are also not doing an entire governmental reform.

You have your definitions wrong. Socialism as currently implemented is where the government owns some but not all of the means of production and doesn't direct production to a large degree, but puts lots of regulations on any private individual or group that produces anything. The government owning all of the means of production is typical of a command economy. It looks like you were the one who was sleeping through economics class.



That's a huge load of bull and you know it. Bush and Cheney were not a dictatorship as they were elected officials and were succeeded by other people not from the same party after an election. They also had to mostly operate within the confines of the Constitution, or at least as much as anybody else has in the last 80 years or so. VERY few people who oppose Obama care about what he looks like, they care about the crap that he as well as the rest of the Democrats are trying to ram through into law- things like socialized health care and the carbon dioxide cap-and-tax. The race card is cleverly being played by Obama's crew in order to immediately be able to dismiss any legitimate criticism of his policies.

I don't like some of his policies, and some i agree with, but he inherited a shitty job(his choice), and in 9 months has shown the the Usa is as racist and ignorant as it's always been.

And ladies and gentlemen, we give you Example #1 of that with the previous sentence. You do realize that it is exactly as racist and ignorant to make derogatory statements against whites or anybody else as it is to do so against blacks, right?

People call his a socialist, and communist but blindly follow Rush Limbaugh(the true leader of the republicans). I voted for him because frankly, i didnt like the other option, and i thought he was better for the job, I will also vote for Mike Cox(Republican) for governor because he is the best man for the job. I don't have blind loyalty to any party or for that matter any country, people need to stop letting emotions, and prejudice interfere with their opinions. So much rage and anger would be funny, if it wasn't so pathetic.

Calling all of the U.S. racist and ignorant, calling Bush a dictator and Cheney the "anti-Christ" isn't emotional? Wow, that could have fooled me. Yes, a lot of us are angry as we have horrible politicians getting elected and pushing horrible legislation that WE DO NOT WANT down our throats. Why do you think so many people showed up at protests around the country to voice their displeasure at Congress's and Obama's policies? Maybe they'll listen for a second at what the people in this country actually want rather than trying to pander to their backers.

By the way, there were more than two people running for President in the election. If you don't like the Republican or Democrat candidates, vote for one of the other ones who you think will be better. The current crappy politicians aren't going to do anything differently if we just eep telling re-electing them.
 

pepperman

Distinguished
Sep 15, 2009
1,105
0
19,460


Thank you for the interesting article.

Of course I have taken several economics classes, which is why I know why FDR's policies failed and why Obama's will too.

And about the recession- the start of the recession started about a month or so before the election. There is considerably controversy over whether the possibility of Obama being elected caused the economy to tank. Remember that the big drop in housing prices that caused the banks to not do so well (and which many attribute the large market drop to) happened a couple of years before the markets dropped severely. One would have thought that if the housing bubble bursting was going to bring down the market, it would have done so well before very many people had heard of Barack Obama, not immediately before his election looked likely.

If you have taken economics classes, then how will increased government spending not fuel the economy? Don't you remember how the spending multiplier works? In short, the more the government spends, the more GDP increases. How else do expect to raise the GDP when our unemployment is so high and the real GDP is tanking?

The economy started to slump in Q2 of 2008, about 5 months before the election, so we can safely say that Obama is not the cause of that.

The reason why the government ran a surplus in the late 1990s was because of the tech boom and that the Republicans controlled Congress since Jan 1995 while Clinton sat in the White House. Not a whole lot of spending or change in governmental regulations occurred due to the gridlock, so the market did very well and tax receipts went up as a result.

I agree with you that the tech boom was the primary reason of the surplus; however, the Bush administration has raised the national debt (in adjusted dollars) more than any other administration in US history.

So in effect you're saying "let's reward people who did idiotic things simply because there may be a little collateral damage if we don't." The workers employed by these firms that are decent employees will find new jobs if the firm goes under. Look at the BLS statistics if you doubt me. Yes, some suppliers and such may be dinged a little in the process, but that's how business works. Also, if you keep rewarding the people who run these companies for making these bad choices, what are they going to do? They're going to keep making them! The only way the people who run these companies are going to not make bad choices is for us to let them feel the full consequences of their bad choices by not bailing them out.

As far as the "too big to fail"/collateral damage theory- it is bunk. There are no "sure things" in business- you put money at risk investing in a company in hopes that it pays off nicely. But you also have to realize that it may not and you may be out the money you invested. The same is true for working for a company- they may be here and fine one quarter, but they may have made poor choices and you're out of a job the next. Bad things can and sometimes do happen- that is just life.

Also, a lot of people forget that the tech bubble burst in March of 2000 and the economy started to tank when Bill Clinton was in office. But yet the 2000 recession is always pinned on Bush, not on Clinton, while the recession that started a few months before Obama took office is always said to be "inherited" by Obama. So which is it- did Bush inherit Clinton's recession and Obama inherit Bush's, or did Bush and Obama each "cause" one? You have to pick one or the other, otherwise you're changing the rules as you go along to suit yourself.

I'm not saying lets reward them; honestly, I think the companies should have been required to restructure in order to qualify for bailout money. However good the employees may be, they can't get jobs at other firms if the other firms aren’t hiring. Look at the unemployment rate; for the year 2009 so far, it has averaged nearly 9.0 %. That’s the most it has been sine 1983. Our current job market outlook is terrible. Even if you have a college degree and/or experience, you certainly aren’t guaranteed a job. Just imagine if you were part of a company that went bankrupt and had to close down; that won’t look very good on your resume…

I never said anything about companies being too big to fail. I agree with you that business is not certain, and that life isn’t either. However, intelligent people can use the information around them to make decisions with higher chances for good outcomes (which is what the companies should have done).

True, the economy did start to slow a little—we had one Quarter of negative growth, but it quickly rebounded and we saw growth in Q4. By the time Bush took office, the economy was steadily growing (albeit, not as fast as it did during the 90’s, but we still saw positive growth). As I said before, the economy the economy started to tank in Q2 of 2008, about 5 months before Obama was elected.

First of all, nobody brought up the Patriot Act. You're just trying to change the topic from something that you are having trouble defending. Secondly, you wrongly assume that since I oppose Obama's policies that I am some sort of bible-thumping neo-conservative and would support the Patriot Act. I do not support the Patriot Act and never have. You are right about Bush not being a conservative; he was a Republican. Republicans today are not very conservative.

No, no one mentioned the Patriot Act, but you insisted that Obama was creating a power pool for the government, and I had show one of Bush’s numerous acts. I was not trying to change the topic (if I were, I would probably be bringing up Michael Moore and his films, but the truth behind those tends to be exaggerated, and he never did one on economics).

You have your definitions wrong. Socialism as currently implemented is where the government owns some but not all of the means of production and doesn't direct production to a large degree, but puts lots of regulations on any private individual or group that produces anything. The government owning all of the means of production is typical of a command economy. It looks like you were the one who was sleeping through economics class.

I was referring to pure socialism, which (just like pure communism) does not exist in our society (however my simple definitions still hold). Ever read Marx?

I agree that socialism as currently implemented is how you describe it, however our government isn’t even going for that right now, and a command (or planned, as I learned it) economy is pretty far off from that. If Obama has his way, we will end up looking more like Britain or Canada than Cuba or North Korea.
 

kelfen

Distinguished
Apr 27, 2008
690
0
18,990
"I agree that socialism as currently implemented is how you describe it, however our government isn’t even going for that right now, and a command (or planned, as I learned it) economy is pretty far off from that. If Obama has his way, we will end up looking more like Britain or Canada than Cuba or North Korea."

sadly this is very true.. : / ; obama probably will not win re-ellection just pure off the many promises he has made and flat out broke them... for example no pork which the stimulus is distugingly filled with. curruption organizations receiving money such as acorn that supports obama. demonizing fox,Rush and anyone who tries to go against him. He is on a perminate campaign mode if ya been watching the news lately
 


Considering this year's deficit is a humongous 1.4 trillion, over 3x the previous record, I'm not at all surprised. The dollar's heyday of being the world standard currency will be soon over.
 


Probably something like, if laid end-to-end, it would stretch past the moon or something like that. Or, if I filled my pockets with 1.4 trillion dollars, I'd need pants the size of New York city?? :D
 


Wait until you see what the Dems & Obama do for tax increases. They'll take your salary, you get to keep the 'change' :D

Personally I'm still of mixed feelings about Obama. I don't trust his "we'll only tax the rich - those making $250K or more", since I saw what happened with Bill Clinton's promises during his first election to not raise taxes. As soon as he got into office and 'realized' how bad the situation was, his promise was out the nearest window. And Obama is in much more serious deficit trouble than Clinton was. I suspect the 'rich' will get redefined as anybody making more than $250 :D.

However I did like his reaching out to Muslims, trying to separate the religion from the fanatics. Not worthy of a Nobel peace prize or anything, but a nice gesture and attempt to reconcile hard feelings. But, I also think he's going to get taken in by Iran on their nuke development 'talks', as well as caving in to the Russians and stopping deployment of the ABM systems in Eastern Europe. I won't be surprised to see another major terrorist attack on the US, on his watch. But then he's pushing up development of that 15-ton bunker-buster bomb, so who knows??
 


Because the only way the government gets money is by taking out of the hands of people via taxes, by borrowing it, or by simply printing more money. None of those are good:

1. Taxes dampen economic growth because almost all of the people that actually create jobs are people who own and run businesses. If you look at the "stimulus" packages, they essentially take money from people in taxes, take out some of it in overhead and administration, and then give it back to the businesses in the form of bailouts or government contracts. Assuming that the government contracts are directed to activities that actually result in increased economic output (such as building roads- not by giving to artists to make statues of fornicating dogs to put on an overpass), the administrative overhead that the government takes to manage the money represents lost economic output. A government paper pusher doesn't really add much to the economic output of the country since they aren't producing any sort of salable good or service.

2. Borrowing money to stimulate the economy isn't always a good idea as borrowed money accumulates interest that has to be paid back. The only way you end up ahead is if you get a rate of return on the borrowed money that exceeds the interest rate. I would say that is not the case since the government said they spent $533,000 per job created. Basically put, those employees would have to be making somewhere into the six figure range more per year for their entire career than they otherwise would have to pay back in taxes the $533,000 plus interest that the government invested in their job.

3. Printing money isn't a great idea, either. That leads to inflation that makes your citizens' savings and the debt that debtors hold less valuable than it was before. The already-ailing banks aren't going to do very well when the return on their good loans suddenly drops through the floor too.

The economy started to slump in Q2 of 2008, about 5 months before the election, so we can safely say that Obama is not the cause of that.

Not quite. Look here:
- 2-year NASDAQ graph
- 2-year DJIA graph

Both of them look awfully similar- the big drop was in October of 2008, which is right after Obama got the DNC nomination.

I agree with you that the tech boom was the primary reason of the surplus; however, the Bush administration has raised the national debt (in adjusted dollars) more than any other administration in US history.

Adjusted dollars are a poor figure to use since our adjusted GDP is also far larger than it used to be. You should look at the deficit as a percentage of the total GDP to get a more accurate picture of what administration spent the most of the nation's economic output. Not surprisingly, the administration that had the highest spending-to-GDP ratio was FDR's. The time that Obama has been in office is a noticeable spike at the edge of that graph, while Bush's spending-to-GDP ratio isn't much different than anybody else's since about 1980. Yes, Bush spent way too much, but I never said he didn't.

I'm not saying lets reward them; honestly, I think the companies should have been required to restructure in order to qualify for bailout money. However good the employees may be, they can't get jobs at other firms if the other firms aren’t hiring. Look at the unemployment rate; for the year 2009 so far, it has averaged nearly 9.0 %. That’s the most it has been sine 1983. Our current job market outlook is terrible.

...which is why we need to keep spending down to keep the money in the hands of the people that do make the jobs rather than losing a chunk of it to government overhead. Nobody's going to want to invest a bunch of money in anything except very low-risk, high-revenue/margin stuff if they fear that they will get the snot taxed out of them and have to deal with a ton of new bureaucratic red tape that may very well bankrupt them.

Even if you have a college degree and/or experience, you certainly aren’t guaranteed a job.

Despite what college recruiters and the media would have you think, you never were guaranteed a job just because you have a degree. Part of this is that some people pursue largely unmarketable degrees, such as gender studies and 16th century Italian literature. Part of it is that many jobs don't actually need a college degree to perform. The only reason that some employers make it a "requirement" is that they want people who are slightly older and hopefully more mature than your average 18-year-old kid fresh out of high school and going out into the wide world for the first time. Also, there are a lot of jobs that you go through non-college training to do, such as any of the trades. Those jobs are typically looked down upon, which is why some people wouldn't seek them out.

Just imagine if you were part of a company that went bankrupt and had to close down; that won’t look very good on your resume…

Unless you are a high-level corporate officer in that defunct company, why would it look bad? It says nothing about you if the company you work for goes under and you lost your job. You did nothing wrong, so why should it reflect badly on you?

I never said anything about companies being too big to fail. I agree with you that business is not certain, and that life isn’t either. However, intelligent people can use the information around them to make decisions with higher chances for good outcomes (which is what the companies should have done).

Yes, and unfortunately the decision with the highest chance of a good outcome was to go and stick the debt on the government. Fannie Mae and Freddie Mac were backed by the government, so it was in the best interest of those groups to take on very high-risk but high-interest loans. If the loan is good, you make a ton in interest payments. If they default, you spin the loss off on the government. Either way you end up smelling like a rose. That's what happened and is why I said we rewarded foolish behavior.

True, the economy did start to slow a little—we had one Quarter of negative growth, but it quickly rebounded and we saw growth in Q4. By the time Bush took office, the economy was steadily growing (albeit, not as fast as it did during the 90’s, but we still saw positive growth). As I said before, the economy the economy started to tank in Q2 of 2008, about 5 months before Obama was elected.

No, no one mentioned the Patriot Act, but you insisted that Obama was creating a power pool for the government, and I had show one of Bush’s numerous acts. I was not trying to change the topic (if I were, I would probably be bringing up Michael Moore and his films, but the truth behind those tends to be exaggerated, and he never did one on economics).

And notice that Obama didn't repeal it?

And actually Moore did make a film on economics.
 

reconviperone1

Distinguished
Nov 23, 2006
1,048
0
19,280
Damn, you ripped me apart pretty good, you have some good points, Bush and cheney were not a dictatorship(impossible in a republic), but they did play fast and loose with the constitution, and i blame that more on Cheney, i think Bush is at heart a decent individual who got into a bad situation, and didnt make it better, much like Obama has walked into a bad situation. The racism thing, i haven't seen Caucasians fired up and so overtly racist since OJ killed his wife. As far as not voting democrat or republican, we do need a new party, because the democrats and the republicans only difference in agenda is who is paying them, I support Obama and hope he does a great job, if he does not i wont vote for him, its that simple. I just come here to read about computers though, so you guys have at it with this crap
 

belial2k

Distinguished
Feb 16, 2009
1,043
0
19,310
I find it amusing how all these right wingers try to portray Obama as extreme socialist and way to the left. He is WAY more centrist in his policies than Bush ever was. He also tries to bring the parties together, unlike Bush who just ramrodded policy down congresses throat through executive orders and signing statements. Of course, it has been impossible to have any true bipartisanship with the "party of NO" in opposition.
I agree Obama hasn't accomplished a whole lot so far, but the reason is not because he hasn't tried, its been because the Dems as a whole are weak and still acting like they are the minority party. Bush got everything he wanted because the GOP knows how to play "dirty". This is something the Dems refuse to do, so they let the current minority bully them around.
As a true liberal progressive, I wish Obama was a lot farther to the left, but I'm smart enough to realize he could never get elected if he was. Just like a hard right wacko like Glenn Beck could never get elected. If Obama is guilty of anything, its trying to hard to appease the Right, and being too centrist.
As far as all these claims of "socialism" goes...we as a society decided a long time ago that in order to take care of our citizens we were willing to have social programs. Social Security, Medicare, Medicaid, VA, Food Stamps, ect are all socialist programs. Outside all the lies that have been spread, I have not heard one good reason why we should not have universal health care. Right now we have a system where corrupt insurance companies concerned only with profit decide what health care we get. I would much rather have a government run "non profit" deciding things...they have much less incentive to deny coverage. Its a shame that in the wealthiest country on earth we have people dieing every day because they either could not afford insurance or had their insurance denied.
As disappointed as I am that Obama has not gotten more done, and is trying so hard to be a centrist, I am still glad he is not Bush. It will take a long, long, time to undo all the damage that administration did to this country.
 

baddad

Distinguished
Oct 20, 2006
1,249
0
19,310


No you have that wrong, you just described fascism, private economic enterprise under centralized governmental control. What Obama is practicing is a combination of communism, socialism and fascism. I think you had better start reading other authors of history and lessoning to other professors of economic history so that you really know what the truth is.
 
Status
Not open for further replies.