Unemployment at a 26 year high (9.7%)

[halogamer1989]

Kasz216 said:

That Guy said:
Wasn't Thomas Jefferson a rebublican? I know I know, times were different at the time, but I think that's exactly the point I was getting at.

I think anything ~ 1920's and before really doesn't have anything to do with Republican/Democratic ideologies of today. The doctrine flipflops every once in a while.

So yeah the economy sucks. Mafoo argues that it would have been better for the Government to do nothing AKA Hoover and have it all burn down and fall faster so that we can start over faster.

Its like slowing down a burning building, as opposed to just razing the burning building and laying down the foundation the next day.

I think Obama is in a catch 22 at this point. If Obama had done NOTHING and just let all the companies fail, I'm pretty sure the public would complain about how he's standing by, twidling his thumbs as people are now living on the streets (and Halogamer and CommunistHater would be saying "see? Obama doesn't know what he's doing" and perhaps Mafoo would be the only one that would be happy).

Obama chose to spend money to at least invest into some infrastructure (i.e. discounts for more fuel efficient stuff, a la cash for clunkers) so at the end of the recession we'd be a set up to be more efficient. Also remember that some 40% of the stimulus package is tax cuts, certainly something the right wingers can get behind.

The whole AIG clusterf**k came from a bipartisan effort that was signed by Bush, so lets not lump that into the Obama administration. GM technically was bailed out by Obama, but their bailout was somewhere to the tune of 25 billion (which, admittedly, is still a lot of money) which is dwarfed by the 700+ billion needed to bail out AIG and co.

No.

The first Republican President was Abe Lincoln.

Thomas Jefferson was a Democrat.

 

Or more specifically a "Democratic Republican".  Eventually Republican got taken off when it split into multiple parties.

@Kasz  That is inaccurate but close. My party formed from a consolidation of Free-Soilers, Northern Whigs, N Dems, Know-Nothings (not the stupid party but the anti-immigrant/Catholic party), and several anti-slavery movements.  The Dem-Rep party dissolvement is the basis for the modern Dems led then by Jackson and the Whig Party. 

http://www.u-s-history.com/pages/h141.html

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@That Guy  Obama chose to reward Democratic districts under the guise of the ARRA.  AIG was indeed bailed out under Bush and I disagreed with him on that.  Most of this subprime packaging mess came from the Community Reinvestment Act, however (a Dem inititive).  It essentially defined poor and rich areas and basically pushed banks to lend to poor folks to get them into homes, get them a good start, no more discrimination - basically Democratic affirmative action x10.  In the 2000s certain ppl came up with the then bright and risky idea of bundling subprimes and it led to trillions in profits.  However the guys knew it was risky and it led to a collosal bubble.  Now Bush tried to overhaul Freddie and Fannie in 2003: http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html?sec=&spon=&pagewanted=print  McCain tried to do financial reform in 2005: http://tinyurl.com/5t3jts  Both failed due to the Dems like Dodd and Barney "Elmer Fudd Banking Queen" (sorry couldn't help it) Frank and pals who got SWEET deals from AIG.

Chris Dodd donor info for the 2008 cycle: http://www.opensecrets.org/politicians/contrib.php?cycle=2008&type=C&cid=N00000581&newMem=N&recs=20

Frank donor info for 2008: http://www.opensecrets.org/politicians/contrib.php?cycle=2008&cid=N00000275&type=I

Top industries to donate to them: Hey what do ya know?  Financials and real estate + bailed out banks.  Hmmm.....coincidence?

I would encourage you to read Catastrophe by Dick Morris.  He advised Bill Clinton and takes a no BS nonpartisan look at the leadup to the 2008 mess.  http://www.amazon.com/Catastrophe-Dick-Morris/dp/006177104X/