Obama and Bernanke have been hurling Keynsian medicine at the economy for years now.
The result?... 8% unemployment, $1.2 trillion deficits, and a sluggish 1.3% GDP... all while investment capital flees offshore and dives into shelters (Apple's Wozniack was the latest billionaire to announce that he's fleeing the U.S. economy... to Australia).
Today's stimulus is historically massive... the fed's printing press is running at an un-precedented rate... and Obama's government is borrowing 40 cents out of every dollar the government spends...
... still... no growth, high un-employment... and massive deficits.
Why? very simple. Everybody with investment capital (wealthy americans and corporations) is scared to death of the magnitude to which Barak Obama hates them, hates capitalism, hates that they HAVE investment capital and is threatening to tax the cr@p out of them...
... it's no wonder our capitalist system... the system that built America's wealth in the first place... has COMPLETELY SEIZED UP.
Meanwhile, Singapore (the place that the brazillian facebook founder fled to) is keeping taxes low, has NO capital gains tax, has more millionaires per capita than any country on earth, low un-employment, and outstanding growth.
The difference is simple... Singapore doesn't punish wealthy people... they nurture them and give them incentives to deploy their capital into productive, jobs-producing industries.
The fuel of capitalism is investment capital... and so long as America employs a president who hates and punishes those with the investment capital we need to build businesses and employ Americans... it isn't going to matter HOW much monetary and fiscal stimulus Obama and Bernanke hurl at our economy...
... it simply isn't going to work... and they aren't going to change... Obama has hated capitalism and colonialism ALL HIS LIFE.
4 more years like the last 4 years, and we're Greece, people... GREECE!
George W. Bush inherited a strong economy, a budget surplus, and a nation at peace.
Eight years later, he left Obama with a shattered economy, a trillion dollar deficit, and two useless wars.
Obama saved the country from another Great Depression, rebuilt GM, reformed healthcare, reformed Wall Street, doubled the stock market, created 8 straight quarters of GDP growth, created 22 straight months of private sector job growth, got Bin Laden, got Gaddafi, and got us out of Iraq.
And now with the automatic spending cuts and the expiration of the Bush tax cuts in 2012, Obama has solved the deficit problem as well.
I see you're making excuses for Obama by blaming a president from almost a half decade ago.
Like you, Obama blames everybody else for his disasterous economy as well.
Still, Democrats seized control of all of congress in 2007... 2 years before the credit crisis... and Pelosi and Reid then declared anything and everything Bush proposed as "dead on arrival".
2 years later, Obama not only won the presidency, but he also got a filibuster-proof Senate for more than a year's time... only the 3rd time in the last 100 years that one party achieved "absolute power" in America.
And, in spite of free-reign autonomy to make the U.S. economy into ANYTHING THEY WANTED TO, we STILL have massive deficits, high unemployment, and almost no economic growth.
The reason is simple... because when you punish success, successful people close up their businesses and either dive into unproductive economic shelters or move overseas. Same with corporations, which pay higher taxes in the US than anywhere in the world.
Conversely, the "poverty line" in the U.S. provides the highest standard of living than anyone in the world living at the poverty line.
Just how long do you think we can sustain an economy that punishes success and re-distributes wealth as lavishly as America does?...
... I'll give you a hint... our $1.2 trillion deficits will move the U.S. debt-to-GDP ratio beyond that of Greece's in just 3, short years.