I just had a liberal tell me that Trump's great economic numbers are due to Obama and she praised Obama for getting us out of trouble because of Bush. The following is some of what I shared with her to negate her viewpoints:
First of all, it was Democrats who relaxed mortgage lending standards so they could be heroes to people who were further down the economic spectrum; they demanded that these people were deserving of the American dream as well. Of course a housing boom occurred and mortgage banks were rocketing in sales. This led to the financial market deciding to bundle up these mortgages and turning them into instruments that could be traded on The New York Stock Exchange.
In hindsight they should've never have done this but at the time, it was the hottest financial trend. Then inevitably, loans began defaulting because surprise, surprise, there was a reason why many of these people were at the bottom of the economic spectrum, and that's because they weren't responsible with their money. Also, mortgage brokers who were paid on the number of loans they processed, began putting people in homes they couldn't afford. Mortgage securities crashed impacting the Stock Exchange and the housing market went bust. None of this was Bush's fault and all of it stemmed from what Democrats did with mortgage loans. The mainstream media once again provided cover for Democrats and blamed the economy on the Bush Administration.
Next, it wasn't Obama who pulled us out of the mess that the Democrats created as he instituted no new policies with the exception of the Stimulus Plan which no credible economists would say, worked. It didn't create enough new jobs to where enough tax revenues came in to pay back the $780B in stimulus money; instead we went further in debt. He kept the Bush tax cuts so he did nothing with tax policy. He didn't save the auto industry because they were all doing fine with the exception of G.M. who ran their company like it was a socialist republic. Even if he did save "G.M." which he didn't, it's impact would have been a fraction of a percent towards improving our economy. He invested in green technology that went bust. Not that some of it wouldn't have been a good investment years down the road, but it wasn't ready because there wasn't a market for the products. But the fact is, acidemias don't understand a free market economy.
There are two indicators whether a President has done a good job and that is increasing GDP, which impacts many areas including job growth, and the direction of debt load. Obama put us in more debt than all other presidents combined and GDP the period before he left was around 1%. GDP automatically goes up some just because of inflation (a rise in prices of goods and services), so if it weren't for inflation, our economy would've been going south. Once again, the mainstream media covered this up. With Trump, it has even gone over 4% because of tax cuts and more discretionary spending by businesses and individuals, besides inflation, this is the only way GDP can go up. We've had the best growth in decades. By the way, a good GDP increases tax revenues and gives us our best chance to decrease our debts.
The bottom line is Obama was a horrific President when it came to our economy and foreign policies. In my opinion, if he were a white President and not our first African American President, he would've been under more scrutiny even by the media. Everyone was so afraid of saying something bad about what he was doing because they'd be called racists; especially when conservatives tried to speak up. They weren't calling him out because the color of his skin as that would be ridiculous, but instead his blatant mishandling of so many issues.
Anyhow, the liberal who called me out on Obama saving Bush and being the reason our economy is in great shape now, has been brainwashed by liberal propaganda. It's easy to occur because all of us are inundated with liberal ideology because that's what the mainstream media provides. It takes independent thought and critical thinking, to see through their propaganda. It takes invoking common sense and logic to prevent being a sheep. Unfortunately too many liberals lack these things and that's why socialism is gaining more traction.
First of all, it was Democrats who relaxed mortgage lending standards so they could be heroes to people who were further down the economic spectrum; they demanded that these people were deserving of the American dream as well. Of course a housing boom occurred and mortgage banks were rocketing in sales. This led to the financial market deciding to bundle up these mortgages and turning them into instruments that could be traded on The New York Stock Exchange.
In hindsight they should've never have done this but at the time, it was the hottest financial trend. Then inevitably, loans began defaulting because surprise, surprise, there was a reason why many of these people were at the bottom of the economic spectrum, and that's because they weren't responsible with their money. Also, mortgage brokers who were paid on the number of loans they processed, began putting people in homes they couldn't afford. Mortgage securities crashed impacting the Stock Exchange and the housing market went bust. None of this was Bush's fault and all of it stemmed from what Democrats did with mortgage loans. The mainstream media once again provided cover for Democrats and blamed the economy on the Bush Administration.
Next, it wasn't Obama who pulled us out of the mess that the Democrats created as he instituted no new policies with the exception of the Stimulus Plan which no credible economists would say, worked. It didn't create enough new jobs to where enough tax revenues came in to pay back the $780B in stimulus money; instead we went further in debt. He kept the Bush tax cuts so he did nothing with tax policy. He didn't save the auto industry because they were all doing fine with the exception of G.M. who ran their company like it was a socialist republic. Even if he did save "G.M." which he didn't, it's impact would have been a fraction of a percent towards improving our economy. He invested in green technology that went bust. Not that some of it wouldn't have been a good investment years down the road, but it wasn't ready because there wasn't a market for the products. But the fact is, acidemias don't understand a free market economy.
There are two indicators whether a President has done a good job and that is increasing GDP, which impacts many areas including job growth, and the direction of debt load. Obama put us in more debt than all other presidents combined and GDP the period before he left was around 1%. GDP automatically goes up some just because of inflation (a rise in prices of goods and services), so if it weren't for inflation, our economy would've been going south. Once again, the mainstream media covered this up. With Trump, it has even gone over 4% because of tax cuts and more discretionary spending by businesses and individuals, besides inflation, this is the only way GDP can go up. We've had the best growth in decades. By the way, a good GDP increases tax revenues and gives us our best chance to decrease our debts.
The bottom line is Obama was a horrific President when it came to our economy and foreign policies. In my opinion, if he were a white President and not our first African American President, he would've been under more scrutiny even by the media. Everyone was so afraid of saying something bad about what he was doing because they'd be called racists; especially when conservatives tried to speak up. They weren't calling him out because the color of his skin as that would be ridiculous, but instead his blatant mishandling of so many issues.
Anyhow, the liberal who called me out on Obama saving Bush and being the reason our economy is in great shape now, has been brainwashed by liberal propaganda. It's easy to occur because all of us are inundated with liberal ideology because that's what the mainstream media provides. It takes independent thought and critical thinking, to see through their propaganda. It takes invoking common sense and logic to prevent being a sheep. Unfortunately too many liberals lack these things and that's why socialism is gaining more traction.
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