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2 Bumps

Did President Obama have to spend so much money to pull us back from the brink of an economic depression?

When you hear economist speak they explain that this much money HAD to be spend otherwise we would have gone over the cliff. And although we are no longer digging ourselves into a hole when we look up we are still very far down. However the economy is coming back up.

Do you think that we should have just gone down and become a third world country and not have spent the money or should we have per economists and the specialists that are advising the president have spent so much money?

Answer Question
 
35yoamom

Asked by 35yoamom at 12:25 PM on Jan. 7, 2011 in Politics & Current Events

Level 20 (10,016 Credits)
Answers (16)
  • banging head into wall

    Anonymous

    Answer by Anonymous at 12:27 PM on Jan. 7, 2011

  • That doesn't make sense to me. He spent money to save us. Hmmmm
    Anonymous

    Answer by Anonymous at 12:28 PM on Jan. 7, 2011

  • No he spent more money and screwed us even more.
    mommy_of_two388

    Answer by mommy_of_two388 at 12:29 PM on Jan. 7, 2011

  • If I may..... this statement needs some editing~ When you hear Keysenian economist speak they explain that this much money HAD to be spend otherwise we would have gone over the cliff.


    I would argue that there are many other economists who would disagree with your statment...

    grlygrlz2

    Answer by grlygrlz2 at 12:33 PM on Jan. 7, 2011

  • Well that is what the economists said.


    "If there were no bailout and the federal government did nothing, it would have been only a few weeks before the average American would start noticing problems on Main Street, DeYoung and Thomas said. Banks wouldn't be lending among themselves and businesses would have trouble getting credit and finding the money to meet payroll and do regular business."


    “While the effectiveness of any individual element certainly can be debated, there is little doubt that in total, the policy response was highly effective,”


    http://www.nytimes.com/2010/07/28/business/economy/28bailout.html?_r=1

    35yoamom

    Comment by 35yoamom (original poster) at 12:34 PM on Jan. 7, 2011

  • No he didnt. And in all reality we arent pulling ourselves out by getting more in debt. That is like saying oh honey give me $10k to spend so we can have a better credit report. Makes no sense.
    Anonymous

    Answer by Anonymous at 12:35 PM on Jan. 7, 2011

  • No. I am a successful business owner fiscal responsibility is a necessity to keep things running. If I went and borrowed money and blew it all on things that won't help my business I would be bankrupt in no time. Instead I budget and will make cuts when necessary so my employees and I have jobs and a way to support our families. I have ran my business debt free for nearly 18 years and it is thriving in this economy because we are not in debt and cash poor.

    The Gov has to tighten it's belt and cut unnecessary programs. The Gov need to stop giving so much to other countries right now and concentrate on balancing the budget and getting out of the way of companies and stop hindering them from hiring. We have not hired anyone knew for a year because I am waiting to see what is going to happen. With the tax cut extensions I am still waiting because I have to plan 5 years in the future for my company not just two years.
    Anonymous

    Answer by Anonymous at 12:36 PM on Jan. 7, 2011

  • I really don't think Obama's big spending helped us out at all. I think we would be in the same place if he hadn't spent all that money, mjaybe even better off.
    Liz132

    Answer by Liz132 at 12:37 PM on Jan. 7, 2011

  • Obama didn't spend it, congress did.
    UpSheRises

    Answer by UpSheRises at 12:53 PM on Jan. 7, 2011

  • Well that is what the economists said.

    Keysenian economics do not work in this type of economy. They may be effective in a smaller country with a MUCH smaller workforce and production base, but outside of those little bubbles, it doesn't matter. A Westboro Baptist may say something about the Bible, that doesn't make them right or accurate either.
    NotPanicking

    Answer by NotPanicking at 12:59 PM on Jan. 7, 2011

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