Ummmm DUH!!!! Businesses can't shed jobs forever. People had to buy cars at some point. Banks had to lend money again. Home prices couldn't fall to zero. The stock market was way undervalued at 7,000. Although this would all mean that the free market works and corrected itself so I'm sure according to u Obama made it all happen.
Tell me you understood what happened in the crash of 2008 under Gw Bush??
Did you not understand ALL THE BANKS FAILED? Banks had NO MONEY to lend to anyone. Home prices are falling to levels in the 1990's. The stock market had lost over 3 trillion dollars in value wiping out 401k's and retirement funds.
The goverment had to take ACTION, and that action including fed easing, put the prime lending rate at ZERO, which means the banks could borrow money for FREE from the goverment.
The goverment had to infuse billions of dollars into the banking system to keep them afloat so they didnt wipe out every smaller bank underneath it. The goverment had to infuse a stimulus plan to do three things, first, give small businesses a TAX CUT to grow job growth, second, a tax cut for everyone making under 250K ( like me ) and third, for projects like roads, bridges, freeways, infrastructure.
These are all things that stopped the decline of the nation coming out of BUSH, and turned the country around.
BUSH was losing 750 thousand jobs a month for 2 almost 2 years or 11 million people out of work. As they continued to be unemployed going into OBAMAs term, their benefits ran out and had to be extended.
Once those ran out, a majority had to seek food stamps to survive.
Thats where the goverment has to step in.
But what happened?? The corporations had a 25% tax cut since 2001 (just like romney wants to give them) and they didnt create a single job or create any new industries. For 10 years they have had the lowest rates since Reagan and yet, the country still tanked and unemployment rose to 10.2% from 4%.
You talk about the free market, but what has the "free market" done for this country in the last 11 years?
Nothing happens by itself. The free market under BUSH crushed this country.
Its going to take alot more than talk from Romney on how to get this country on its feet, and simply saying he wants to return to the policies of the BUSH administration will only insure the country stays in a state of shock.
Peace
TOS
