Bump for this tidbit of fact.
Serious question here... Why is it all of a sudden a bad thing to spend 750 billion to stimulate the economy in 2009 when it's got actual things it's going to do... but giving away 750 billion dollars in 2008 was an ok thing to do.
Why are things different now when it comes to the money? Why didn't the Republicans jump up and down then? At least now, they actually have some items and groups that will directly receive the money to do something and won't just "get lost" like a few billion did when it went to the banks just to "prop up" their credit markets.
Which one is more worthwhile?
Banks are essential for a healthy capitalist system.
But there was plenty lack of transparancy and even control during the bailout.
It was necessary to do, but should've been done with much more control and force from the government.
The biggest banks who were in trouble could've been partly taken over for awhile to secure the banking sector.
That's how the banks have been secured in Europe and that didn't cost as much.
Plus, there is a good chance the tax payers money will be paid back once the government gets out of the banks.
The stimulus is important to get things rolling again.
The problem is that the former president was so fiscally irresponsible.
Which gives the current president a fcuked up foundation to build on.