When President George W. Bush signed the Economic Stimulus Act of 2008 and sent us all a government check, the economy was well into a recession that would get much worse.
The government later bailed out financial institutions because their collapse threatened to bring the economy to a halt.
Those were frightening days, when people worried that the nation was about to repeat the Great Depression that hung around for a decade.
Wednesday, President Barack Obama reminded a grumbling nation of those days and how the economy is gradually bouncing back. The rebound isn’t nearly as rapid as any of us would like, but as the president said, a depression is no longer a possibility.
The president made the statement on the one-year anniversary of the $787 billion American Economic Recovery and Investment Act.
Millions of people are still out of work, as the president noted. He also emphasized that the recovery program wasn’t meant to put everyone back to work, but to stop the slide, build confidence and help people survive the hard times.
The president is looking to the private sector to generate jobs and fuel the economy — not government — although it is giving work to 3.5 million.
It is difficult to ask someone without a job to be patient, but the Great Depression lasted from 1929 to 1939 and the recovery was slow.
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Not so fast here,Bush signed the T.A.R.P bill and the teleprompter in chief signed the Stimulus bill on his watch and Barry voted for every spending bill before he was elected President. Check the senate record to confirm the truth.Neither bill was necessary,
Barry has quadrupled the deficit on his watch and did nothing to energize the economy and should Obamacare pass ,it would add another 1.4 trillion and exacerbate the economy farther into bankruptcy.The banks have repaid most of the tarp money and the unspent balance,shouldn't be spent,but do you think the taxocrats will put that money back in the general fund?Nyet!!!
Bush Deficit vs. Obama Deficit in Pictures .... http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/
You're absolutely right William.If it was such an emergency to pass the stimulus bill a year ago why hasn't it been used?Because it's nothing more than an election year slush fund to buy votes.The dollar isn't worth the paper it's printed on and the euro is going downhill fast.Get ready for a global currency....it's coming soon.And to who ever wrote this editorial......how do you "bounce back gradually"?
there was a post yesterday that said...theres no way to tell if the stimulus created, or saved any jobs, so we just spend 1.4 trillion, for nothing. every notice that every one of these type articials start out with......george bush........then switch to big.........i never do anything wrong...and if you dont like me you are a racist....in fact i never do anything...if it was wrong, or we can make you think it was wrong.....bush did it.....i will have to speak to one of my czars, so they can write out the script for the teleprompter on what i have done. by the way....why dont all you baggers just shut up and let me destroy your country, after all its not mine, when its gone, ill go back to my muslim friends, they like me.
Wow. Just wow.
Mythmaker: Your grasp of logic truly underwhelms. If you are driving down the Interstate on the wrong side, then miraculously get back on the right side, there is no way to tell if you would have had a head-on if you had continued your previous path. So you just altered your trip for nothing.
who made these promises....
1. i will release oil from the reserve, to lower gas prices
2. i will extend the bush tax cuts for people making less than 250,000.00
3. i will eliminate income tax on seniors making less than 50,000.00
4. i will allow five days public comment, before signing any bill
5. i will negotiate with doctors, nurses, hospitals, insurance companys, along with drug companys relating to health care reform
6. i will secure the borders with additional personel, equipment, and technology
7. i will eliminate capital gains taxes for small businesses
8. i will make sure that no family making less than 250,000.00 will see a tax increase of any kind.
i guess bush was standing behind him twisting his arm, when he made these promises/lies to get elected.
by the way bob.....the undocumented citizens added into the number of people without insurance totals 9.7 million
(st petersonburg times) a 2009 pulitzer prize winner
Way to go Obama, cut good paying jobs and generate low level, minimum wage ones in droves. Who do you think actually pays for all this? Not the kind of jobs being created.