I think there were only one or two sane comments on this, but that is not surprising.
Here's the real secret: The money went into the economy.
Do you believe that fancy new buildings get built without hiring workers, buying materials, visits by food trucks, and so on?
Do you think that all the design and engineering of a new technology is going to be wiped from memory, or that the equipment and product 'sold for pennies on the dollar' isn't going to be used?
And if you think that the money spent on excessive executive salaries *isn't* going to be invested (by these Captains Of Industry) in Job Creation, ta-da, then you should also think that tax cuts for the wealthy can expire with no bad effect, since that money will not be invested in Job Creation, ta-da, either.
Our problem, according to both left and right economists, is that money is not flowing through the economy. Failed businesses and successful business both 'create jobs'. That's where the statistics about small businesses (real ones, not doctors and lawyers and consultants) creating most jobs come from---people invest, most businesses fail, but in the end you get your GDP.
Lesson over, you may now go back to getting "Kenyan" and "community organizer" into your posts as many times as you can.
Selling a $6 product for $3 might have also been a problem...
I just need a few investors and a Gov’t loan to get it off the ground....
If any of the FReepers here are interested in getting in on the ground floor.....please send your checks to:
US Buggy Whips INC.
(payable to M-Cubed)
That money was borrowed from the taxpayers and it didn't create long term employment for anybody. We have a nice big expensive building that isn't producing anything. It's like building a bridge that nobody ever uses.
Wealth is not created by useless public works projects. Wealth is not created by printing more and more money and dumping it into the economy.