CHESSNOID

I have to admit that it is pretty funny listening to the President Obama’s White House senior advisers lie through their teeth.  I know the idea of positive thinking sounds good, but sometimes you need to embrace the whole truth to solve the real issues.  That is why things keep getting worse.  You can’t solve problems if you simply don’t think there is one.

CNN:

“My admonition would be: Don’t make the perfect the enemy of the good,” Obama senior adviser David Axelrod said Sunday on CNN’s State of the Union in an effort to speak directly to the president’s liberal critics. “We’ve achieved more in these two years — in terms of advancing a solid progressive agenda for this country that will help working families and make this a better, more balanced economy — than anyone has done in you know, in our generation.”

The truth of the matter is the economy is in worse shape than I remember in my lifetime and still in a downtrend.  This is worse than the recession back in the late 1980’s and early 1990’s.  This is worse than the 1970’s energy crisis when people had to fill up their cars on alternating days.  I have more family and friends out of work and struggling to make ends meet.  For that matter, everyone in America knows more than one person in that predicament since 1 out of every 10 people are unemployed.

To pretend that the current administration has done anything worthwhile is completely ludicrous.  Even Obamabots are becoming scarce since they can not defend him with the “give him more time” excuse and the numerous promises he has broken.   The last 2 years have only become worse.  They like to blame that on the President Bush which I would agree he is partly to blame.  However, as bad as it was back then, I am convinced the Obama administration has only made it worse. Were there better times before them?  Of course and here is a post of what it used to be: Budget Surplus Just a Memory Now.

Focusing only on the economy, if you simply took all the money spent on bailing out the banks, insurance companies,  wall street companies, auto companies, fannie mae and freddie mac and redistributed all that money straight to the taxpayers, that would have saved our economy.  To rephrase that if we took all that money and gave it back to the people it would have been more productive.

March 31 ,2009 (Bloomberg)

–The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.

A single person would get $42,105, a married couple would get $84,210, and a family of four would get $168,420.  Imagine that for a minute.  What would most people do with this money.  They would pay off all their credit card bills which would save the banks and reduce delinquency and defaults.  They would buy new cars which would save the auto industry.  They would purchase a new home because they have ample down payments which would save the housing industry.  They would also put money in their stock and IRA accounts which would help the stock markets.  Yes, it is that simple.

Instead, what our government did was give this money to companies who paid their top executives billions of dollars in bonuses for running companies into insolvency and purchased companies that are still failing 2 years later.  Why would they do this?

It is very difficult to believe when they say no one could have done a better job when some common sense could have solved the economic crisis.