Obama's approval rating is at its highest point in years

I don't think Obama's rationale in bailing out Detroit was the same as Bush's in bailing out Wall Street, though both were made out of panic and utter desperation.

 

Handing money to the rich is handing money to the rich. The rationale always has to be that it will benefit lower and middle class some how. You can't justify handing money to the rich and it only benefiting the rich. This is basically trickle down economics.

The difference is Obama supporters are some how duped into not recognizing what Obamas economic plan is.

<iframe src="https://www.youtube.com/embed/5EoetIL-MiM" allowfullscreen="" frameborder="0" height="315" width="560"></iframe>

 

Well losing our auto industry would be a huge blow that I don't think many would actually support. Just think how much money we would have to spend in employment benefits and other measures to retrain the hundreds of thousands in the auto industry from the big auto makers to the suppliers.

Furthermore, haven't the automakers paid back the bailout? Along with the banks?

 

That's been the conservative economic plan for about 30 years... Funny how conservatives call this president a socialist when he does it. Somehow when the president who happens to be colored man with a foreign sounding name, it's all scary.

In reality, too many Americans are terrible with money and aren't able to take advantage of the cheap money.

 

https://projects.propublica.org/bailout/list

Here's a total list, some have paid the money back, some haven't. Overall I think the US came out ahead

 

They dont call Obama a socialist because of QE or the Auto bailout. They also don't call him a socialist because of his skin color......

They do it because of his healthcare plan amongst other things (that being said, Obamacare is not socialism)

 

It's ignorance either way. When the economy tanks like it did in 2007 and 2008 then there are a lot of automatic programs that kick in. Aside from ACA, there really aren't any other relatively large new programs adding to the debt.

 

Good list. I agree that the US came out ahead as the alternative would have been much worse. I don't believe there are many people in the US who have lived through an actual bank run. Without providing liquidity (bailing out) the banks things would have gotten actually scary very quick. However, it also looks like a good amount of banks ended up failing anyways which is completely normal.

I certainly understand the trepidation of allowing the govt to manipulate the economy in such a way, but having an actual global liquidity crisis (not just the makings of one) is something far worse.