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.