The numbers are IN.
Despite what you may have heard, the TARP and Stimulus WORKED. Here are the numbers....The federal government actually came out AHEAD on TARP. By some $40 billion to date.
"Had Goldman, Morgan Stanley, GE Capital, AIG, and several giant European banks not received bailouts and instead failed, even capital-rich J.P. Morgan Chase would have gone under because it wouldn’t have been able to collect what these and other players owed it. There would have been trillions of dollars in losses, worldwide panic, missed payrolls, and quite likely the onset of the Great Depression II. That’s why we needed a bailout. And why we got it."
"Not only did it forestall a worldwide financial meltdown, but a Fortune analysis shows that U.S. taxpayers are also coming out ahead."
"the Federal Reserve System has already turned over more than $100 billion of bailout-related income to the Treasury, and it’s on track to turn over $85 billion more this year and next. "
And the way things are going, it appears that we should do some more of the same. As state, local and the feds have cut jobs, the situation has gotten worse. That's what happens when you cut budgets - just like what happened in 1937.
For details, check out the link above...and ask yourself, "if it worked then why are we not doing more of it?" Is jobless preferred? I don't think the unemployed would want us doing nothing...
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