Saving America’s Economy

The picture above shows what the current crop of Republicans in Congress have to run on in elections this fall.  How successful do you think this strategy will prove to be?  Although the Party of No didn’t participate beyond saying, “Hell No!,” here’s some facts about how the Stimulus bill passed by the Democratic majorities under the leadership of President Obama has saved America’s economy —

  • Income tax rates in 2009 were the lowest they’ve been since Harry Truman was president.  The tax rate paid by all Americans — rich and poor, combined — has fallen 26% since the recession began in 2007.  Federal, state and local income taxes consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports.  One-third of last year’s $862 billion economic stimulus went for tax cuts.
  • Most state governments counted on The Stimulus money to stay afloat.  Most states are now seeing reports from their Departments of Labor showing how many jobs in their states are funded solely by The Stimulus package.
  • American auto makers are making profits again.
  • In 2010 small businesses will receive a tax credit of up to 35% of their premium costs for employee health coverage.

Check out the web site where the Obama administration is tracking the money.  It’s an enormous task — publishing a real-time, reliable accounting of what the government is doing — and it wouldn’t have been possible a decade ago. Call it Government 2.0, or Democracy 2.0 — Deputy OMB Director Rob Nabors says it’s time for a new era. “We’ve never really been in a position before where the government took on the responsibility of showing at a state level, at a local level, how federal dollars are being spentWe’re allowing the public to connect the decisions that government makes in a way that’s relevant to their civic lives,” he says. “And that feedback look gives a sense of empowerment that they never had before.”

Recovery is slow going, but this wasn’t any run-of-the-mill recession, it was the worst economic downturn since the Great Depression.  Our economy continues to sputter and joblessness persists — there is still work to be done, but great progress has been made.  Obama’s economic policies helped America avoid a depression.  America is going forward!  We’ll get there even without Republican help.


Filed under Economics, taxes, The Economy

11 responses to “Saving America’s Economy

  1. A full one third of the stimulus package went to tax cuts — the holy grail of the GOP — and yet they opposed it!

    Yep! They get to run on having said yes to the spending that ruined the economy. When it came to spending much less to save the economy they said their usual NO!

  2. prairie pond

    Ya know, everything in the above thread post is true.

    But it just illustrates how Americans are not now, if they ever have been, thoughtful voters who look at the facts, weigh them, and then make a rational decision about casting their votes.

    Instead, we buy elected officials like we buy toothpaste or cars. With pure emotion, not reason.

    Jefferson was right. We get the government we deserve.

  3. wicked

    Just try reading the comments on the OL and you’ll see how obtuse these people are. According to them, Bush did nothing wrong during during his 8 years, and the country did great, while in less than 2 years Obama has caused the economic collapse of the country. Wow! He must be the most powerful president we’ve ever had.

    • prairie pond

      Wicked, I gotta say, you and Indy are better people than I. I cant stomach that OL for even a couple of posts.

      Same reason I cant stomach tbtsnbn. It’s just too upsetting to me. I know ignorance and bigotry are out there, but I dont have to read it.

      • indypendent

        I was told by a very wise man once – always know what your enemies are saying.

        I do not have to participate in their daily bitch sessions, but it is always a good thing to know how the other side is thinking in case something does come up and they need to be bitch slapped.


      • wicked

        Gee, indy, do they really think over there on the OL? I guess I’ve missed that. 🙂

        What I find is a bunch of Right-wing ranters who basically have no facts beneath their wings. And rant, they do. The few lefties who post usually do so in a specifically non-rant way as they attempt to share facts. Of course, they don’t know a thing and lie, lie, lie, according to the ranters.

        Same old, same old, much like the other place, and I suspect some of them are at both.

  4. The tea partiers and their fans complain loudly about taxes. Didn’t they name their entire movement Taxed Enough Already? They owe President Obama and the democrats a great thank you! And each time any one of them complains about high taxes they prove just how ill informed they are!

  5. indypendent

    wicked – LOL

    Remember the Republicans were all mocking Obama for being just a community organizer and he has never ever done anything?

    But out of the other side of their mouth, they say Obama crashed the economy, single-handedly fired or laid off millions of workers, manipulates the global leaders and has personally taken over all the corporations.

    Boy, for only being a community organizer – he sure has been a busy man.

    • wicked

      And all in a year and a half! Amazing! He must be SUPERMAN! Or God. 😉 He’d be both, if only he was a Republican.

  6. wicked

    What I find humorous–in a disgusting sort of way–is when any lefty brings up the fact that the economy and everything related to it had already taken a dive before Obama was even elected president, it’s time to forget about Bush. Some will even go so far to say they never liked him. Oh, yes, and they point out that the “donks” held Congress. If I recall, we had a taste of what the future eventually brought during that holding-Congress time.

  7. David B

    The most sweeping overhaul of the nation’s financial regulatory system since the Great Depression cleared the Senate Thursday night – putting President Barack Obama on his way toward a second major legislative accomplishment this year.

    The vote was 59 to 39, with several Republicans joining nearly all Democrats in voting for the bill.