Quote:
Originally Posted by RJF
My point is, what makes this recession so different than the one during the Clinton presidency and the one after 9/11?
We didn't spend $1 Trillion dollars back then, instead tax rates were cut to allow people to keep more of their money, and people started spending, companies had money for investment and to create jobs. Yes, there was some increased government spending on defense and security, but not $1 trillion worth.
If this proposed plan goes through and we all get "welfare" from the government, the economy will get worse, and who is going to pay for all this? Companies and small-business owners (aka "The Rich" - according to Dems definition).
|
No, this recession is the result of government intervention of the last 2 recessions they interfered with. There was a recession in the early 90s. The Feds lowered interest rates and created all this easy credit. Which flowed into the tech bubble of the 90s. The NASDAQ index was grossly over valued and it crashed and we had
another recession earlier this decade. The Feds stepped in
again, lowered interest rates
again and created even more credit. When the tech bubble burst it flowed into the housing bubble.
The feds lowered the rate to 0 - .25% last month.