Romney credits GWB and Paulson for saving economy

Newch91Newch91 Posts: 17,560
edited March 2012 in A Moving Train
Did he really say that? Yes he did. He sure does not like facts and numbers, does he?

http://www.dailykos.com/story/2012/03/2 ... nk-bailout

Mitt Romney must have hired an Etch-A-Sketch artist to reprogram his internal memory chips because this sure isn't how I remember things going down:
"I keep hearing the president say he's responsible for keeping the country out of a Great Depression," Romney said at a town hall in Arbutus, Maryland. "No, no, no, that was President George W. Bush and [then-Treasury Secretary] Hank Paulson."

So how did Bush and Paulson save the American economy? According to Romney, they saved it with the Wall Street bailout. "I think they were right," he said. Of course he does—to Mitt Romney, banks were worth saving. The auto industry, on the other hand, not so much.

But even though TARP may have prevented the complete collapse of the financial system, it didn't save the economy. Lest anybody forget, during the last year of the Bush presidency, we lost 4.7 million private sector jobs, 3 million of them coming after the passage of TARP, which is what Romney was defending. In Bush's last month in office, the economy lost 839,000 jobs—and things were getting worse. Even Romney himself could see the economy was in crisis. In December of 2008, Romney called for passage of a stimulus plan that was broadly similar to the one President Obama ultimately passed.

Now, however, he wants everybody to forget that President Obama inherited an economic catastrophe. Well, good luck with that. No matter what his campaign believes, our memories aren't like Etch-A-Sketches. We do not easily forget. And by willingly injecting George W. Bush into the 2012 political conversation, Romney's making sure that we'll remember.
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Comments

  • Johnny AbruzzoJohnny Abruzzo Philly Posts: 11,817
    Newch91 wrote:
    Now, however, he wants everybody to forget that President Obama inherited an economic catastrophe. Well, good luck with that. No matter what his campaign believes, our memories aren't like Etch-A-Sketches. We do not easily forget. And by willingly injecting George W. Bush into the 2012 political conversation, Romney's making sure that we'll remember.

    Seems like much of the country did forget, in about a month. :roll:
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  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,304
    Romney credits GWB and Paulson for saving economy????????????????





    :lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol:
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,304
    the sad part is they are going to reset romney like an etch a sketch once he gets the nomination and people are going to forget everything he has said and every position he has taken to date...
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • Johnny AbruzzoJohnny Abruzzo Philly Posts: 11,817
    the sad part is they are going to reset romney like an etch a sketch once he gets the nomination and people are going to forget everything he has said and every position he has taken to date...

    Democrats need to have a pair and not let that happen.

    http://technorati.com/politics/article/dnc-responds-quickly-with-ad-after/

    Funny thing is that ALL presidential campaigns are etch-a-sketches (like Obama wanting to scrap NAFTA :lol: ) - they just usually aren't dumb enough to say it out loud.
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  • Godfather.Godfather. Posts: 12,504
    serious question....who did and how ?


    Godfather.
  • polaris_xpolaris_x Posts: 13,559
    Godfather. wrote:
    serious question....who did and how ?


    Godfather.

    the economy is not saved ... as long as corporate interests supersede those of the public ... it will only get worse ...

    can't believe anyone would vote for this guy ... :(
  • Godfather.Godfather. Posts: 12,504
    the sad part is they are going to reset romney like an etch a sketch once he gets the nomination and people are going to forget everything he has said and every position he has taken to date...

    ohhh they'll remember when the time is right just as they have with Obama Bush Clinton Reagon Nixon etc. ;)
    voters have a tendinsey to give poiltions just enough rope to hang them selfs but usally by that time the politions have (in some peoples minds and opinions) created a mess of their own for the country to deal with but they all blame it on the last guy knowing full well what they are getting in to, Romney will probably do the same thing when...if he gets elected and he will give such seemingly valid points that his followers will believe him just as this presidents followers believe him.
    there buddy politics 101 solved for you my friend. :lol: ...hay it's almost friday !!!


    Godfather.
  • Johnny AbruzzoJohnny Abruzzo Philly Posts: 11,817
    the sad part is they are going to reset romney like an etch a sketch once he gets the nomination and people are going to forget everything he has said and every position he has taken to date...

    If I were in charge I'd hand out 80,000 etch-a-sketches at the Charlotte football stadium in August. It makes "flip flop" sound like the Spanish-American War compared to WWII.

    (Why is he giving his speech in something called "Bank of America Stadium"??? :? Also, don't they know it rains a lot in North Carolina? It's not Denver, which is a quasi-desert climate.)
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  • Cliffy6745Cliffy6745 Posts: 33,915
    I dislike Romney as much as anyone and his gaffes are just incredible. The etch-a-sketch is just the icing on the cake and think Romney is going to get worked in the general election. That said, he is not entirely off base on this one. While they certainly continued with deregulation (as did Clinton), which was a major reason for the economy needing to be saved, those two oversaw TARP, I will saw they oversaw it very poorly but they oversaw it nonetheless. And while they certainly didn't have a choice as allowing the banks to crash would have created another depression, they technically can be credited with saving the economy in that they didn't allow a complete meltdown of the financial system. No doubt that after TARP the economy got worse, but things would have been much much much worse had the banks failed.

    What I find interesting is that he is all about TARP but would have allowed Detroit to go bankrupt. Interesting that he would save bankers but leave blue collar workers out to dry. He's never given off that impression at all so I'm quite suprised by that ;)
  • Johnny AbruzzoJohnny Abruzzo Philly Posts: 11,817
    Cliffy6745 wrote:
    I dislike Romney as much as anyone and his gaffes are just incredible. The etch-a-sketch is just the icing on the cake and think Romney is going to get worked in the general election. That said, he is not entirely off base on this one. While they certainly continued with deregulation (as did Clinton), which was a major reason for the economy needing to be saved, those two oversaw TARP, I will saw they oversaw it very poorly but they oversaw it nonetheless. And while they certainly didn't have a choice as allowing the banks to crash would have created another depression, they technically can be credited with saving the economy in that they didn't allow a complete meltdown of the financial system.

    What I find interesting is that he is all about TARP but would have allowed Detroit to go bankrupt. Interesting that he would save bankers but leave blue collar workers out to dry. He's never given off that impression at all so I'm quite suprised by that ;)

    His gaffes make Joe Biden look like some sort of modern Abe Lincoln (talking about friendship with NFL owners AFTER talking about NASCAR owners a week or 2 before :lol: ). I would think somebody needs to get fired for this one.

    You could perhaps make some sort of argument that GWB & Paulson prevented full-fledged economic catastrophe, and also that they helped to cause it to begin with. You also have to go back to the deregulation that started in the Clinton administration.
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  • Cliffy6745Cliffy6745 Posts: 33,915

    His gaffes make Joe Biden look like some sort of modern Abe Lincoln (talking about friendship with NFL owners AFTER talking about NASCAR owners a week or 2 before :lol: ). I would think somebody needs to get fired for this one.

    You could perhaps make some sort of argument that GWB & Paulson prevented full-fledged economic catastrophe, and also that they helped to cause it to begin with. You also have to go back to the deregulation that started in the Clinton administration.

    He likes firing people so perhaps that may happen. You know its bad when you can use one of his gaffes to respond.

    That's my point. While things definitely got worse, I can't even imagine if the financial system failed. That's when a second great depression happens. They should have zero credit in turning around the economy but they did what was needed, against popular opinion, to save the economy from a complete disaster.
  • polaris_xpolaris_x Posts: 13,559
    Cliffy6745 wrote:
    He likes firing people so perhaps that may happen. You know its bad when you can use one of his gaffes to respond.

    That's my point. While things definitely got worse, I can't even imagine if the financial system failed. That's when a second great depression happens. They should have zero credit in turning around the economy but they did what was needed, against popular opinion, to save the economy from a complete disaster.

    what is your opinion on the net benefit/cost of war!? ... i would say that engaging in two wars is a huge net cost towards the economy ... and that it's impact on global markets futher heightens that net impact ...
  • Cliffy6745Cliffy6745 Posts: 33,915
    polaris_x wrote:

    what is your opinion on the net benefit/cost of war!? ... i would say that engaging in two wars is a huge net cost towards the economy ... and that it's impact on global markets futher heightens that net impact ...

    I don't disagree with that a little bit. The first war was a necessity at the time, it went on way too long and developed a horrible direction/goal, but there was no choice at the time. I'm not arguing that GWB had a positive impact on the economy, I'm just saying that TARP was vital in avoiding a much worse situation and they did what was needed to "save" it from a depression which is what Romney's point was.
  • polaris_xpolaris_x Posts: 13,559
    Cliffy6745 wrote:
    I don't disagree with that a little bit. The first war was a necessity at the time, it went on way too long and developed a horrible direction/goal, but there was no choice at the time. I'm not arguing that GWB had a positive impact on the economy, I'm just saying that TARP was vital in avoiding a much worse situation and they did what was needed to "save" it from a depression which is what Romney's point was.

    yeah ... i got that part although the benefit of TARP can be argued (of which i'm not keen on doing ... :mrgreen: )

    i just find it weird that someone who contributed significantly to the downfall on the economy can be also give credit for saving it ... doesn't make sense to me ...
  • Cliffy6745Cliffy6745 Posts: 33,915
    polaris_x wrote:

    yeah ... i got that part although the benefit of TARP can be argued (of which i'm not keen on doing ... :mrgreen: )

    i just find it weird that someone who contributed significantly to the downfall on the economy can be also give credit for saving it ... doesn't make sense to me ...

    Looking back, I can't see any rational argument against TARP. Horrible that it was needed, but it was very much needed.

    I hear what you're saying and I don't disagree. You could say that TARP was largely needed because of his decisions. I wouldn't dispute that so yeah, it is strange, but if just look at what the direct result of TARP was, you have to say that it avoided a much worse situation.
  • Johnny AbruzzoJohnny Abruzzo Philly Posts: 11,817
    Sounds like we're all in agreement here. (well Cliffy, polaris and me; I'd say we speak for all Pearl Jam fans worldwide. :lol: )
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  • Cliffy6745Cliffy6745 Posts: 33,915
    Sounds like we're all in agreement here. (well Cliffy, polaris and me; I'd say we speak for all Pearl Jam fans worldwide. :lol: )

    :thumbup:
  • polaris_xpolaris_x Posts: 13,559
    Sounds like we're all in agreement here. (well Cliffy, polaris and me; I'd say we speak for all Pearl Jam fans worldwide. :lol: )

    :lol::lol:

    we need to meet up for some fried chicken ... :lol:
  • Johnny AbruzzoJohnny Abruzzo Philly Posts: 11,817
    polaris_x wrote:

    :lol::lol:

    we need to meet up for some fried chicken ... :lol:

    Goddamit - you had to go there. :lol:

    Cliffy, ever get to Resurrection Ale House? (let's move to the Phillies thread. ;) )
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  • Cliffy6745Cliffy6745 Posts: 33,915

    Goddamit - you had to go there. :lol:

    Cliffy, ever get to Resurrection Ale House? (let's move to the Phillies thread. ;) )

    Had some fried chicken last night, first time in a while. The womans mom made it. Not too shabby.

    I haven't yet. I need to make that happen.
  • polaris_xpolaris_x Posts: 13,559
    popeyes had some anniversary thing last nite ... i don't normally go but got suckered in ... :lol:
  • peacefrompaulpeacefrompaul Posts: 25,293
    polaris_x wrote:

    the economy is not saved ... as long as corporate interests supersede those of the public ... it will only get worse ...

    can't believe anyone would vote for this guy ... :(

    Beautifully put
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