Question For Your Republican Friends

Posted on 09/19/2008 at 10:32 pm by Bob Cesca

We all just paid more than a trillion dollars to socialize bad debt from formerly unregulated mortgage banks in order to avert what economists are calling a second Great Depression. Here’s the question: Is this an economic situation that suits a man who admits that he doesn’t know much about the economy, and a woman who is proud that she got a D in macroeconomics?

Ask. Ask. Ask.

I overheard someone on cable news today quote the following maxim: Wealth is privatized, but debt is socialized. I wonder if the Republicans understand, as Jonathan Alter mentioned on Rachel Maddow’s show tonight, that President Bush and Treasury Secretary Paulson became socialists today.

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  • dynapro

    This latest trillion is really horrendous. It is nauseating to think of this latest addition to the national debt on top of all that has been piled on over the last eight years. I guess you can credit Bush with as good a job of financial rape over his term as was humanly possible. And that was pretty much the essence of their agenda. Heck-of-a-job, Bushy!Unless you are an idiot, or a Republican, you have to realize that there is not going to be a future National Economic Recovery sufficient to pay our 10 trillion dollar National debt off. At $100 a barrel, that debt is gonna double in the next four years under Obama or McCain. A U.S. bankrupcy is inevitable and our creditor nations like China and Saudi Arabia know it.You know the saying about the light at the end of the tunnel…. It is not T.Bone Pickens and his wind power brainstorm, it is not the new General Motors “Volt” automobile, it is a freight train and our American ass is about to get plowed.

  • grcratty

    Really it seems the only thing preventing a major catastrophe here is the lack of consumer panic. But there still seems to be a closet full of shoes yet to drop so there’s still plenty of opportunity for that…

  • kansasdem

    Bob,Don’t you know by now that you can’t reason with Republican’ts?It’s not possible!When confronted with facts they begin frothing at the mouth!

  • bajasteve

    I read in the editorials today that Lehman Brothers Chairman and CEO Richard Fuld, Jr, was paid $17,000 per hour for driving his company into the ground. If that’s not sickening enough for ya, E.Stanley O’Neal retired with a $161,000,000 package after driving Merrill Lynch over a cliff.Think they’ll have to pay back any of that money to help with the reapective bail-outs? (It is to laugh – I make joke, yes?)

  • kansasdem

    bajasteve,I want to know what percentage of that they had to pay in income tax. We know that every dime over $102,000.00 was FICA free!

  • http://eclectablog.blogspot.com Eclectablog

    You’re making the classic progressive liberal mistake of assuming the conservatives value intelligence and poise.They don’t.

  • The Space Cowboy
  • Pecos Bill

    Cowboy-…disheartening…..

  • gallery

    Kansasdem is right.A couple of nights ago I ran into the younger brother of an old friend. I call his brother “rush” (for obvious reasons)This kid is intellectually lazy, and probably greedy as well.He’s been told what’s good for him and he believes it.I asked him where he gets his information to form his opinions, and he said, Fox news and rush limpballs.There was no discussion, only sneering condescension that liberals don’t “get it”. At the point that it was starting to get ugly, I paid my tab, said goodnight, and went home.You just can’t argue a point with someone who sticks their head in the sand, and I’m done trying.

  • Nanotyrannus

    Barack Obama is about to become our FDR. He’s going to have to spend the next 8 years fixing this mess. His hair will be very grey by the time it’s all over. When we’re all 90 years old, we’ll get all weepy talking about how he saved our country and brought us through the Second Great Depression.The Republicans, however, will squeal like stuck pigs about how President Obama, that Socialist Bastard, pushed heavy regulation through a Democrat congress that is still stifling innovation and wealth. Obama didn’t save us. Oh no, it was the quick thinking of the Bush Administration that set us on the road to recovery.And the cycle will begin all over again.