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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (604939)	3/23/2011 7:34:06 PM
From: i-node	Read Replies (2) of 1577929

>> Look at the 2009 spending vs tax revenue inode...that's bush's last budget and result of the economic downturn. That's what W left behind for O to deal with...try to get some reality in your thinking...along with some facts. This is far too complicated for you to understand. However, keep in mind that $700 Billion in TARP money was expensed under the Bush budget (increasing the deficit by the same amount) then recaptured as revenue under the first year Obama budget -- in effect, the accounting irregularity gave Bush a $700B "hit" and Obama a $700B "bump". Proper accounting would have had neither of these events occur (and, in fact, after the numbers came out, they were revised by Obama to reflect the fact that almost all the Bush money was recovered and much of the Obama money will be). >> let's stipulate that smarter people than you or I thought (and still think) that the economy needed a strong push.. I will stipulate they are smarter than you, which isn't saying very much. Obviously, anyone who believes that government spending can cause an economy to recover is less smart than I am as I've known it couldn't for most of my life. I know that there is no magic.

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