564.) President Obama’s administration is finally admiting that the United States tax payers will have lost $14,000,000,000.00 (14 billion) dollars on bailing out the United American Auto Wor…I mean the American Auto Makers. I am pretty sure we saw commercials telling how GM paid back its government loans, and how we were going to make a killing on the ISO. I guess $14,000,000,000.00  is the price we have to pay to keep Chyrsler and GM from going bankrupt… oh wait, they did go bankrupt.

565.) April 29th, 2009 “We’ve begun remaking America,” President Barack Obama touting his beloved Porkulus bill. In 2010 when questioned about the slow economic growth in the supposed “summer of recovery” President Barack Obama  said,”‘No. I don’t regret the notion that we’re moving forward because of the steps that we’ve taken“. One year after signing the porkulus bill President Obama had this to say,”One year later, it is largely thanks to the recovery act that a second depression is no longer a possibility”.  Well two years after its signing, and one year after the summer of recovery, how does the country look now? Housing prices have hit their lowest value sense 2002, unemployement is at 9% (1% higher than President Obama said it would go if the porkulus bill was passed) a number kept down only because people have given up looking. According to AP the real unemployment number is more like 11.5%. Oh don’t forget that inflation has helped lead to $4.00 a gallon gasoline. Man we are in a lot better shape than we were before. At least thanks to the amazing porkulus bill the possibility of a second depression is no longer a threat, or is it? Well Peter Yarstown said on CNBC “We’re on the verge of a Great, Great Depression“. From CNN David Gergen said, “ It is really this picture darkens, and it is — was particularly stark today with manufacturing, with housing, auto sales, jobs, all of these issues. We obviously have a — an economy that’s stalling out, and we’re in very great danger of a double-dip here now which would be a very big disaster for an awful lot of Americans.” A double dip recession, I thought this was a recovery…. Maybe President Obama was… I can’t believe I am saying this… wrong.  Maybe his massive spending has done nothing but create uncertanty, a devalued dollar, and the economy is none the better. Its almost like history is repeating itself, massive government spending to save the economy, Herbert Hoover and FDR come to mind. If i remember those didn’t end in an economic boom.  

  1. I feel like we’re heading for a GREAT Depression indeed….  😦

  2. It blows my mind how folks refuse to look at history.  When we had a fee market (contrary to popular belief, we haven’t had a free market for over 100 years), the Nation was almost continuously growing.  Yes, we had recessions.  They’re going to happen.  But it’s how you handle them that determine their length and magnitude.  It was only when progressivism reared it’s ugly head that depressions and major recessions began to occur.  It was also then that the nation stopped growing in such magnitude.  Back when folks controlled their own destiny, and were told they controlled their own destiny.  Not this age of “oh, you didn’t get the job you wanted?  Well, just blame the evil rich.”

  3. @grim_truth – couldn’t have said it better myself.  Progressivism is like the men who built the titanic. The economy can no longer fail, then you find an iceburg and we know how that story goes.

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