Obama Appeals to Congress for $50 Billion in Emergency Aid

  • Thread starter Thread starter Bob Sacamano
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Really the world need a restart on debt/credit. All countries so just decide to call it even and start over
 
I don't get the impression Obama is focused only on his political career and re-election. If he was, why would he have ever gone after the healthcare reform bill? Thats something which has only made him a bigger target for vitriol from retarded conservatives and the benefits of it probably won't be fully realized until he's long out of office. Not a good strategy for re-election.

GM folding would have meant even higher unemployment, with flashing FOX NEWS ALERTS scrolling furiously across the bottom of the tv screen to give faggots like you more to cry about.

Face it. Does not matter WHAT Obama does. Debating Obama with conservatives on OT is like debating anything else on OT.

He didn't close Guantanamo like he said he would.
He's a faggot.

He closed Guantanamo.
He's a terrorist sympathizer.

He didn't withdraw all the troops from Iraq.
He's a faggot.

He withdrew all the troops from Iraq.
He's a Muslim.

He passed a healthcare reform bill.
He's a socialist.

He didn't pass healthcare reform.
He doesn't care about the middle class.

He bailed out GM.
He's bankrupting our country.

He didn't bail out GM.
He's causing mass unemployment.

If you don't have better answers. Shut the fuck up. The GOP has no answers and no leaders. They are fractured by Tea Party lunatics who want no government and lower taxes except when it comes to the Medicare that paid for their Hoverround and diabetes medication so they can attend Tea Party rallies and Christian conservatives who want to ban gay marriage for the sake of morality while they are having affairs on their wives with Brazilian bitches or smoking meth with gay prostitutes in Europe.

The Democrats suck. Obama's not perfect, but the "alternatives" are so laughably bad that none of you. NOT ONE of you motherfuckers can make a convincing, well-reasoned argument for them. That's why all you can do is twist your nipples while you watch Hannity and troll Obama on OT.
 
We should craft our laws to favor those who've acted foolishly at the expense of those who've acted responsibly.
 
Government spending increased from 8.0% of gross national product (GNP) under Hoover in 1932 to 10.2% of the GNP in 1936. Because of the depression, the national debt as a percentage of the GNP had doubled under Hoover from 16% to 33.6% of the GNP in 1932. While Roosevelt balanced the "regular" budget, the emergency budget was funded by debt, which increased to 40.9% in 1936, and then remained level until World War II, at which time it escalated rapidly. The national debt rose under Hoover, and held steady under FDR until the war began, as shown on chart 1.[59]


National debt from four years before Roosevelt took office to five years after the time that he died in office
Deficit spending had been recommended by some economists, most notably by John Maynard Keynes of Britain. The GNP was 34% higher in 1936 than in 1932 and 58% higher in 1940 on the eve of war. That is, the economy grew 58% from 1932 to 1940 in 8 years of peacetime, and then grew 56% from 1940 to 1945 in 5 years of wartime. However, the economic recovery did not absorb all the unemployment Roosevelt inherited. Unemployment fell dramatically in Roosevelt's first term, from 25% when he took office to 14.3% in 1937. Afterward, however, it increased to 19.0% in 1938 ('a depression within a depression') and 17.2% in 1939, and stayed high until it almost vanished during World War II when the previously unemployed were conscripted, taking them out of the potential labor supply number.[60]
During the war, the economy operated under such different conditions that comparison with peacetime is impossible. However, Roosevelt saw the New Deal policies as central to his legacy, and in his 1944 State of the Union Address, he advocated that Americans should think of basic economic rights as a Second Bill of Rights.
The U.S. economy grew rapidly during Roosevelt's term.[61] However, coming out of the depression, this growth was accompanied by continuing high levels of unemployment; as the median joblessness rate during the New Deal was 17.2%. Throughout his entire term, including the war years, average unemployment was 13%.[62][63] Total employment during Roosevelt's term expanded by 18.31 million jobs, with an average annual increase in jobs during his administration of 5.3%.[64]
Roosevelt did not raise income taxes before World War II began; however payroll taxes were also introduced to fund the new Social Security program in 1937. He also got Congress to spend more on many various programs and projects never before seen in American history. However, under the revenue pressures brought on by the depression, most states added or increased taxes, including sales as well as income taxes. Roosevelt's proposal for new taxes on corporate savings were highly controversial in 1936
 
Stimulus Raised GDP, Lowered Unemployment


ABC's Z. Byron Wolf reports: In a counterpoint to our earlier post on the skyrocketing debt: the nonpartisan Congressional Budget Office has a new report out on the now-more-than $800 billion off-budget stimulus program that Congress passed last year. Republicans have criticized that law ad-nauseum, pointing to the near-10 percent unemployment rate to argue that the stimulus did not work. But today’s CBO report confirms that things could have been much worse without the stimulus. For instance, the report guesstimates that the bill created 1.8 million to 4.1 million (a huge spread!) jobs that wouldn’t have existed otherwise and the unemployment rate would have been between .7 to 1.5 percent higher without the stimulus.
The effects of the stimulus, according to the report, will continue to increase through part of 2010, before subsiding.
From the report:
Looking at recorded spending to date as well as estimates of the other effects of ARRA on spending and revenues, CBO has estimated the law’s impact on employment and economic output using evidence about the effects of previous similar policies on the economy and using various mathematical models that represent the workings of the economy. On that basis, CBO estimates that in the first quarter of calendar year 2010, ARRA’s policies:
• Raised the level of real (inflation-adjusted) gross domestic product (GDP) by between 1.7 percent and 4.2 percent,
• Lowered the unemployment rate by between 0.7 percentage points and 1.5 percentage points,
• Increased the number of people employed by between 1.2 million and 2.8 million, and
• Increased the number of full-time-equivalent (FTE) jobs by 1.8 million to 4.1 million compared with what those amounts would have been otherwise. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers.)
The effects of ARRA on output and employment are expected to increase further during calendar year 2010 but then diminish in 2011 and fade away by the end of 2012.

http://blogs.abcnews.com/thenote/2010/05/stimulus-raised-gdp-lowered-unemployment.html


i dont like Obama much, but i will give him credit when credits due
 
cash for clunkers and the home buyers tax credit were terrible ideas, I agree completely on that...infrastructure investment is different, it PAYS us back overtime if its actually a smart project. From what i've read the vast majority of projects were definitely worth the investment.
 
not to mention the economy was already in the shitter and he KNEW THIS and ran on the idea he could fix it.
 
this is why college is bullshit

obama came out without an understanding of economics or physics
 
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