Go to Cutting Obama's Deficit of Truth
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The bailout package would have been passed by Republicans.
In October of 2008, leading economists almost unanimously recommended such a bailout package, saying that it would be necessary to avert economic disaster, also saying that it would indeed add to the national debt, but that the alternative would be a devastating depression.
And that brings me to October of 2008. If the economy were so bad then as to cause economists to recommend such a package, whose fault was that/ Democrats controlled Congress since January of 2007, not November of 2006, hardly enough time, I would think, to have any impact on the economy.
And what do you make of the high unemployment figures in the early years of the Reagan Administration? Higher than we see now. And I do believe that Republicans controlled Congress then too. Do you want to lay that at the feet of the Democrats?
Fannie May and Freddie Mac are a really small part of the financial industry -- what happened was that Republicans deregulated the industry at the behest of a greedy banking lobby, removing controls that had been in place since the 30's, whose purpose was to avert the financial situation we now suffer. I guess I'll have to post with reference to that particular action.
You keep on setting up the straw men and I, among others, will keep on shooting them down in flames.
posted by
Xeno-x
on December 10, 2009 at 5:59 AM
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talking about job losses in December . . .
you are saying that he is responsible for this even if he had no power?
And how about the situation in October and November of that year? Was he responsible for that also?
posted by
Xeno-x
on December 10, 2009 at 5:48 AM
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