Is President Obama Fixing the Economy?? Yes, Maybe, No - weigh in here

[FLBK7]

Walk, you are right in some ways - the problem is HOW did these companies become to big to fail?

Most of you will not remember but we use to have something called Anti-trust in this country - you know, back before the "big government is bad", "get government out of business", "business can do it better" that those fine, upstanding Republican Hypocrites have been pushing for years.

The government would not let a company "get too big to fail" - they broke them up and prevented mergers. (Remember AT&T?)

But starting with Reagan, virtually all oversight of anything started to be undone and with Bubba Bush signing the last of the rules blocking virtually any control of wall street in Aug, 2000, the last nail was driven in to dismantle all the safeguards put in place after the 1930's to prevent just what has happened now. (God help us if we EVER elect another public official that is not a student of history.)

Between lack of safeguards and cutting the funds of agencies - FDA, etc. - to be able to do their jobs, ANY government control of ANYTHING in this country disappeared. We had close to pure capitalism by default.

And since we have had pure capitalism for most recorded history, what did it give us? VERY, very rich people and VERY, very poor people.

It was only with the safeguards put in place after the 1930's and a little dash of socialism thrown in that we produced the greatest middle class in the history of the world.

Long live safeguards with a little dash of socialism - until we, the people, are riding high on the economic scale again and start to, once more, believe all that "big government is bad", "get government out of business", "business can do it better" crap that the GOP will once again push with large corps money. We have such short memories. - jb

You are obviously well versed in history. And perhaps you also lived through some of what you stated above. I have been talking about our anti-trust years and no one appears to have a clue as to what I'm talking about. And the Republicans I work with, of course, continue to blame all our ills on "big government" because in all truth, the GOP has no answer and no strategy to deal with the crises of today. Remember how back in October McCain said that "the fundamentals of our economy are strong?"

I think the GOP believes that by being "The Party of No" and by criticizing the current administration at every opportunity, they will gain seats in 2010. I say good luck!

Again, thanks for a great post.

[fltoo]

I think in two years the R's are gonna suffer another big defeat in congress. They have no leader, no direction and no new ideas. If they got a new leader today it would take more than 2 years to turn the direction of their party around. It happened to the D's in 2000. It took till 2006 and our 50 State Strategy to turn us around. Just look at their folder they produced last week that was supposed to contain the budget...as a matter of fact..they said it WAS a budget....one with no numbers. What it did say was tax breaks for the wealthy and tax rates for the lower class stay the same! Ya..way to appeal to the average voter. It is getting hard to watch the R's commit political suicide. I am starting to feel bad for them.

I feel badly for none of them. One party is worse than the other. And we will vote out Congress in two years only because none of the stuff going on now is going to work. It is hard for someone to stick with a party that delivers nothing. It's a crap shoot.

[fltoo]

Agreed, a great orator...........and?

We need to stop looking to the government for help. Obama's massive bailouts are not going to work long term. We, the middle class, need to take matters into our own hands.

We have had credit card lobbyists, credit card counseling and consumer advocates, collection businesses all with their hand in the pot of consumer debt.

Consumers have a clean way out...BK!

You know how ambulance chaser attorneys advertise? How come the BK lawyers don't pull together and advertise? We think that everyone knows BK is a way out because we are schooled from being on this forum. Why aren't there any BK advocacy groups? Why wait for more regulations when the quickest way to stop bad lender practices is for the masses in debt to file for BK?

If carrying a credit card is priceless, then why can't BK be more priceless?

I swear, a great business right now would be to run pro BK seminars. LOL

[MomIcantFindmy]

As the "bridge to nowhere" was shot down, so will the "Congress to nowhere" be shot down when we elect them OUT in two yrs.

Hopefully, babbling Barney will be on the unemployment line.

I think in two years the R's are gonna suffer another big defeat in congress. They have no leader, no direction and no new ideas. If they got a new leader today it would take more than 2 years to turn the direction of their party around. It happened to the D's in 2000. It took till 2006 and our 50 State Strategy to turn us around. Just look at their folder they produced last week that was supposed to contain the budget...as a matter of fact..they said it WAS a budget....one with no numbers. What it did say was tax breaks for the wealthy and tax rates for the lower class stay the same! Ya..way to appeal to the average voter. It is getting hard to watch the R's commit political suicide. I am starting to feel bad for them.

[jeb]

As the "bridge to nowhere" was shot down, so will the "Congress to nowhere" be shot down when we elect them OUT in two yrs.

Hopefully, babbling Barney will be on the unemployment line.

Yes, it was - but we are still trying to get part of the money that was funded for it back from Palin - that very same Palin that is now trying to turn down money to increase unemployment benefits and education. I guess if one has a dropout in the family, educations isn't high on ones list of priorities, huh?

And as for "babbling Barney" - even Newt Grendrich, not known as one of the far left - stated the other day that President Obama is one of the greatest orators this country has ever had. But, hey, what do you expect from Republican Hypocrites?

Oh, BTW, I use to be a Republican - USE being the operative word. - jb

[jeb]

So if the Bush crew are to blame solely as you suggest, why is Geithner there?

Isn't is a wonderful paradox that the things wall st. was doing is so complex that only someone from the inside can straighten it out?

Much like the tax laws for Corps - they are so complex that the IRS can't even audit them. Score one more for those "buy my vote" boys and girls in DC - of both parties. The large corps are finding their money well spent.

And hold on to your hats - that great bastion of neutrality - the Supreme Court - is about to take down what little control we had over Corp money going to elected officials. You ain't seen nothing yet as to what the GOP will do when that happens. - jb

[jeb]

"TOO BIG TO FAIL" is the ultimate fail, and continuing to put money into these banks is like continuing to feed blood into a person who has had their arms ripped off and you haven't gotten around to stopping the blood loss. The money is squirting out faster than you can put it in.

Walk, you are right in some ways - the problem is HOW did these companies become to big to fail?

Most of you will not remember but we use to have something called Anti-trust in this country - you know, back before the "big government is bad", "get government out of business", "business can do it better" that those fine, upstanding Republican Hypocrites have been pushing for years.

The government would not let a company "get too big to fail" - they broke them up and prevented mergers. (Remember AT&T?)

But starting with Reagan, virtually all oversight of anything started to be undone and with Bubba Bush signing the last of the rules blocking virtually any control of wall street in Aug, 2000, the last nail was driven in to dismantle all the safeguards put in place after the 1930's to prevent just what has happened now. (God help us if we EVER elect another public official that is not a student of history.)

Between lack of safeguards and cutting the funds of agencies - FDA, etc. - to be able to do their jobs, ANY government control of ANYTHING in this country disappeared. We had close to pure capitalism by default.

And since we have had pure capitalism for most recorded history, what did it give us? VERY, very rich people and VERY, very poor people.

It was only with the safeguards put in place after the 1930's and a little dash of socialism thrown in that we produced the greatest middle class in the history of the world.

Long live safeguards with a little dash of socialism - until we, the people, are riding high on the economic scale again and start to, once more, believe all that "big government is bad", "get government out of business", "business can do it better" crap that the GOP will once again push with large corps money. We have such short memories. - jb

[dgjmj]

Ohiofiler.....I voted for dubba back then. I was just agreeing that anyone should have a chance to prove themself, however I personally don't think its going to work, its a downhill slide.

There is a time of "proving themself" Which was never done pre-election

Am I surprised no

[fltoo]

As the "bridge to nowhere" was shot down, so will the "Congress to nowhere" be shot down when we elect them OUT in two yrs.

Hopefully, babbling Barney will be on the unemployment line.

[jeb]

Before the start of these financial bailouts our nation had an unfunded liability of over 50 trillion dollars to Medicare, Medicaid and Social Security.

Much of that will begin to hit us in 10 years. The CBOs 9 trillion deficit does not include the shortfalls in Medicare, Medicaid and Social Security.

It will be much worse.

If his budget passes things will get even worse.

That is certainly true - because those fine, upstanding "buy my vote" boys and girls in DC and State Houses across the land have been borrowing the funds to pay for other things - like bridges to nowhere. And to think, when Social Security was passed, it was said that there was no way we could ever spend all that money. - jb

[jeb]

O'bama has zero economic experience and zero administrative experience. This was the worst time for the electorate to have elected someone for on the job training.

Thank God - I don't think our country can take any more of the economic and administrative experience we have had. - jb

[jeb]

The 1st couple bailouts and stimuli had no effect on the economy, in fact I argue they made it worse.

I guess this statement more that any show the Republican Hypocrites for what they are - HYPOCRITES.

If I remember correctly, the "1st couple of bailouts and stimule" were done by Bubba Bush, not President Obama. And if I remember correctly, they first came to congress wanting total and complete control of the money - to do with as they saw fit - and it HAD to be done IMMEDIATELY. (The sky is falling, the sky is falling!!! Just as they rushed us to war a few years back.)

Although they didn't get it totally as they wanted they did manage to get it done with very, very little control. Those that followed did have SOME controls although I think it is safe to say we all would liked to have seen more and tighter. - jb

[Overmylimit]

Ohiofiler.....I voted for dubba back then. I was just agreeing that anyone should have a chance to prove themself, however I personally don't think its going to work, its a downhill slide.

[floridian]

they all had a hand in the neutering of an empire....

http://www.youtube.com/watch?v=eW9viaJatpo

[OhioFiler]

I don't really care for Obama, but you are right give him a chance just like the past President's have had, the only problem I have with that is you cant just print more $$ and spend us out of debt it just isn't going to work....and I think they will all realize it was a bad idea after the money has been spent then it will be too late for all of us.

In 2001 Bush was never given a chance. He was accused of stealing the election and no one on the left offered to give him anything. Only the events of 9/11 brought the left behind him for a "chance".

O'bama deserves no more or less of a chance than Bush was given. Every step he's taken so far on the economy has been a mis-step especially insisting Geithner was the only man, in spite of his admitted tax cheating, for the job.