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How did President Obama's policies lead to the increase in unemployment? State examples of actual policies.?
That's my point, but I am trying not to be biased, I want feedback from both sides, which is why I asked the question the way I did.
Lucky-I read the article and it doesn't address his policies that caused the increase. It blamed his health care bill which hasn't been passed yet, so no money hasn't been spent on it. The stimulus argument is a pretty lame one consideringthe money went to stabilize our financial industry that was ravaged by the scandals of "ponzi schemes" and poor lending practices which were both under the previous administration. p.s. was it not also the previous administration that passed the first stimulus package for $700 billion, while approving a massive senior citizen drug spending bill for $800 billion on top of that.
John- come on, ACORN had nothing to do with Fannie and Freddie, that was also done under the previous administration which led to the CEO being fired under the previous administration. Obama had nothing to do with i, and until you can site sources it means nothing. The primary strain on the economy is the military, and having to allocate trillions of dollars to fight two wars, that the previous administration never took serious, and now look at us. The wars were a smoke screen to gain access to valuable oil fields in Iraq, and natural gas fields in Afghnastan.
5 Answers
- scott bLv 71 decade agoFavorite Answer
They didn't. He inherited the unemployment problem due to the policies of his predecessor.
- Anonymous1 decade ago
Obama (before he was President) worked for ACORN.
ACORN bullied Congress to push Banks, Fanny Mae, and Freddie Mac into making and guaranteeing loans to millions of subprime buyers to purchase houses they could not afford according to traditional baking standards (you normally have to have income, money down, decent credit).
Billions of dollars of these crappy loans were made thanks partly to ACORN and Obama. The people quite predictably defaulted on their loans. Banks and other financial institutions around the world that bought these crappy loans packaged as mortgage backed securities took major losses or became insolvent triggering the current financial crisis as soon as real estate values stopped rising.
Goldman Sachs, Obama'a largest financial backer sold $40 billion of these crappy loans that blew up the U.S. financial system.
The idiots at Goldman were then rewarded by Bush and Obama with billions of dollars in taxpayer funded bailouts to cover their poor financial judgement rather than letting them go bankrupt.
The idiots that caused the financial crisis including Obama are the now the ones in charge of "fixing" it.
Good god what a totally corrupt system we have.
- Anonymous1 decade ago
The failure to address the root cause of unemployment. Read
- Anonymous1 decade ago
They haven't.
His policies have done nothing for business or the hiring for small business,,,,,,they have all been payoffs/payback for big corporations like AIG and GE.
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