Quote:
Originally Posted by Mrpopo
Yeah by passing a stimulus plan that made the new deal look like my kids piggy bank. Oh and that was shovel ready right? Oh that's right he was supposed to cut the deficit in half. Defending Obama is like saying you like taking it in the butt but you're not gay.
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lol. The Stimulus bill was $787 billion. Of that amount, 37% of it was tax cuts ($288 billion). Actual spending on 'shovel-ready' projects was only $357 billion spread over 2 years. That represents only 1.22% of GDP over 2009 and 2010. New Deal spending was 6-7% of GDP or more. Spending during WWII hit 40% of GDP. In other words, Stimulus Bill spending was just a fraction of the New Deal. The stimulus spending also only lasted 2 years, while New Deal projects lasted a decade.
Quote:
Originally Posted by Mrpopo
All of your statements are false. If your in Austria then who cares what you think. Podcast? What a joke. Unemployment is 8.8 right now and real unemployment is at 15.7% When bush left office unemployment was 4.9% Go to the us debt clock and look at the deficit. It's up 3 trillion since Barry took office. He is laughable as a president and he had no previous experience running anything. You won't hear that on fox or anywhere else. It's all on the actual cbo website and the debt clock website.
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Actually, when Bush left office, the unemployment rate was already 7.8% (
Source).
Let's take a look at job losses per month during the recession and recovery:
(
Source)
When did job losses peak? Oh, hey, look at that, they peaked in January 2009. And when did Obama take office, oh, that's right, at the end of January 2009. Yep, it sure looks like he made it a lot worse.
Reality: The economy was already way over the cliff when Obama took office.