Friday, November 05, 2010

Economic Science...From The Unwashed Hillbillies, No Less...

I should make the following a sticky...

  • The Troubled Asset Relief Program did not relieve troubled assets, but paid for the government to buy and run two car companies and take over 90% of the home mortgage business. There will be about $50 billion that went to the car companies and federal housing programs that will never be paid back. (The banks, however, will pay back with interest.)
  • The $814-billion stimulus did not stimulate. Instead, it was followed by the poorest recovery and one of the two or three slowest recoveries in postwar history. And it did not do what Obama and his experts predicted it would do for unemployment.
  • The health care reform that was supposed to bend the cost curve down actually bent it up.
  • These fixes that fixed nothing will only help us go broke quicker.
  • Sure, Obama has not raised tax rates -- yet. But he and the Democrats in Congress are doing everything possible to see that all of the tax rates that Bush reduced in 2001 and 2003 go up dramatically -- just two months from now.

Please click the headline link for a complete breakdown, in REAL WORLD numbers, of how the Obama recovery has been the worst, the slowest, the cruelest in American history.


Woody said...

Great link Fits!

fits said...

Thanks, Woody.