[aruanan]

While I don't agree with Obama's deficit spending (at least not for a decade), he didn't star the current economic crisis. The current economic crisis really did start with congress abanding a law that was put in place after the 1929 stock market crash (forgot the name of the Act, so sorry for butchering my explaination). This resulted in the issueing of trillions upon trillions of dollars of investment insurance called derivatives (once again, I admit I'm butchering my explanation here). And somewhere in this flood of credit was also the flood of credit to the housing industry. Which, today, is still the lynch pin of our current economic slowdown. That is, until all the forclosed homes are finally processed (and we will take a few more years of this), credit will not flow as easily as it once did until then.

That part of the current economic crisis has still to come due. None of Barry's spending has much of anything to do with that. Even the so-called TARP money, which was supposed to help deal with this ended up not being used for that. Taking over Chrysler and GM didn't have anything to do with it. His stimulus package didn't have anything to do with that. Cash for clunkers didn't have anything to do with that. Money for weatherizing houses didn't have anything to do with that. Money for appliances didn't have anything to do with that. Effing over the entire health insurance industry and medicine didn't have anything to do with it. Shutting down drilling for oil didn't have anything to do with that. Badmouthing the U.S. around the world didn't have anything to do with that. Destroying voting integrity by refusing to prosecute the New Black Panther voter intimidation case (and others) and by refusing to prosecute states for failing to take dead voters off rolls and for failing to get military absentee ballots sent out on time didn't have anything to do with that. Screwing up Afghanistan didn't have anything to do with that (turning Karzai to Iran for help in the region given the U.S. planned, precipitous departure having nothing to do with any kind of military sense at all). Furthermore, all the efforts to rein in the problem arising through Freddy Mac and Fannie Mae were stalled by the usual Democrat suspects who were sucking on Fannie Mae's teats and on Freddy Mac's whatever and Barry was one of them. And, after becoming president, he did nothing to fix the problem--FM and FM are both exempted from certain laws that would have had that effect.

[ponder life]

I believe he did the best he could to target money where it was needed. For example, you mention bailing out Chrysler and GM. Auto manufacturers depend heavily on credit. When the credit dries up, so do sales of automobiles. And the drop was sudden. From 18 million auto's per year to 10 million.

And while policies such as cash for clunkers didn't give a big boost to the economy, it is necessary to put money back into the system.

When there is a large surge in credit and then a sudden U-turn of it, what do you propose to do? A surge in credit results in the value of homes and stocks to skyrocket, thereby creating a sort of casino like environment. And when the music stops (i.e., credit dries up), a sort of cascading effect occurs where people pull money out of the stock market and home prices collapse. And this is what happened recently.

When that happens, the daily cadence of loans to keep businesses operating begins to fail. So, in order to keep the economy going, the government spends while the free market works its way out, i.e., comes full circle again.

I don't believe in deficit spending for $10 trillion, but a trillion or two, I believe is necessary.

The biggest mistake I believe Obama made was not spending more and quickly spending it on infrastructure projects, such as updating the nations power grid for wind energy.