Posts Tagged ‘bush’

The LAST Republican President, nuked the world economy, instead.


Published by John Walsh

There is no surprise that the banking crisis has occurred. It is the result of deliberate government policies.

The administration of President George W Bush has attempted to pursue two significant policies which have a certain tension or, perhaps, contradictory nature.
The first was to enforce American power on countries designated as inimical to it and the second was to cut tax rates mostly for the wealthier parts of society and business interests.
The tension between these policies is that military power is extremely expensive and reducing taxes significantly affects government’s resources with very little in the way of compensation.
The cost of the War in Iraq has recently been estimated by the Nobel Prize Winner Joseph Stiglitz, together with Harvard economist Linda Bilmes, as amounting to three trillion dollars, once the costs for wounded and traumatized service personnel are included. How did the Bush administration aim to pay for their foreign policy objectives?


WE paid the bailout!

Posted: October 6, 2011 in TheProblem
Tags: , , ,

Note for all the readers: We are talking about the money *WE* paid to Uncle Sam as TAXES. That’s OUR money!

The one who signed the bailout for the banks

On October 1, 2008, the Senate debated and voted on an amendment to H.R. 1424, which substituted a newly revised version of the Emergency Economic Stabilization Act of 2008 for the language of H.R. 1424.

The Senate accepted the amendment and passed the entire amended bill, voting 74–25.

Additional unrelated provisions added an estimated $150 billion to the cost of the package and increased the length of the bill to 451 pages. (See Public Law 110-343 for details on the added provisions.)

The amended version of H.R. 1424 was sent to the House for consideration, and on October 3, the House voted 263-171 to enact the bill into law.

President George W. Bush signed the bill into law within hours of its congressional enactment, creating the $700 billion Troubled Asset Relief Program (TARP) to purchase failing bank assets.

Well, that did not work out quite as planned, now, did it?