TheRealMafoo 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.
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Just for the record, when I started screaming about bailouts, and how it was the worst thing we could do, Bush was in office. This is not just Obama.
As for the burning building analogy, that’s pretty good. The one thing it lacks is the translation of effort.
The world runs on effort. We convert that into money and track GDP, but GDP is really just a measure of work/time.
The longer we draw out the falling economy, is that much time we lose. In essence, we are holding ourselves hostage, and paying a fortune to do so.
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Bailout are the most ridicilous things (which i never understood) at the moment in Western Economies, people were so quick to criticise capitalism , forgeting that keynesian economics failed few times before. And as we see helping companies doesnt improve the state of economy
