You are unemployed and want a new job, under a Democratic president you have a better chance of getting one!

[TruthNotBS]

How did he "turn it around"?

Barack Obama took several key actions to turn around the recession he inherited from George W. Bush, primarily through a combination of fiscal stimulus, financial sector stabilization, and regulatory reforms.

1. American Recovery and Reinvestment Act (ARRA)​

• In February 2009, shortly after taking office, Obama signed the American Recovery and Reinvestment Act (ARRA) into law. This $787 billion stimulus package was designed to spur economic growth and save jobs in the wake of the recession. It included a mix of tax cuts, unemployment benefits, infrastructure spending, and aid to state and local governments.
• The ARRA provided immediate relief by putting money into the hands of consumers and businesses, which helped to stabilize demand and prevent further economic decline.

2. Stabilizing the Financial Sector​

• Obama continued the efforts started under Bush’s administration to stabilize the financial sector. This included implementing the Troubled Asset Relief Program (TARP), which injected capital into banks to prevent them from failing. While TARP was initiated by Bush, Obama expanded its scope and use to address the crisis more comprehensively.
• Additionally, Obama supported measures to recapitalize and restructure failing banks, ensuring that the financial system remained solvent and capable of supporting the broader economy.

3. Auto Industry Bailout​

• The Obama administration intervened to rescue the U.S. auto industry, particularly General Motors (GM) and Chrysler, which were on the brink of collapse. The administration provided bailout funds and oversaw the restructuring of these companies, leading to their eventual recovery and the preservation of hundreds of thousands of jobs.
• The auto bailout, though controversial, was credited with saving a critical sector of the economy and preventing further job losses.

4. Dodd-Frank Wall Street Reform and Consumer Protection Act​

• To address the root causes of the financial crisis and prevent future economic disasters, Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law in 2010. This legislation introduced a range of regulatory reforms aimed at increasing transparency, reducing systemic risk, and protecting consumers.
• Key provisions included the creation of the Consumer Financial Protection Bureau (CFPB) to oversee financial products and services, and the Volcker Rule, which limited certain speculative activities by banks.

5. Unemployment Relief and Extension of Benefits​

• Obama extended unemployment benefits for millions of Americans who had lost their jobs during the recession. This provided critical support to those struggling to find work and helped sustain consumer spending, which is vital for economic recovery.
• The administration also implemented job training programs and initiatives to help the long-term unemployed reenter the workforce.

6. Support for Homeowners​

• The Obama administration launched programs like the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP) to assist homeowners struggling with mortgage payments. These programs helped millions of Americans avoid foreclosure and stabilize the housing market, which was at the heart of the financial crisis.

7. Long-Term Economic Reforms​

• Beyond immediate crisis management, Obama focused on long-term economic reforms, including investments in clean energy, healthcare reform (through the Affordable Care Act), and education. These initiatives aimed to build a more resilient and equitable economy for the future.

Results​

• By the time Obama left office in 2017, the U.S. economy had experienced significant recovery. Unemployment had fallen from a peak of 10% in October 2009 to 4.7% by January 2017. The stock market had rebounded, and GDP growth had resumed, though at a moderate pace. While not all aspects of the recovery were flawless, the actions taken by Obama helped to avert a deeper economic catastrophe and set the stage for sustained growth in the years that followed.

This multi-faceted approach, combining short-term stimulus with long-term reforms, was crucial in pulling the U.S. economy out of the worst recession since the Great Depression.

 

[TruthNotBS]

So he didn't give jobs to folks during any of his construction projects? apprentice? Any other business adventure? you really should stop ramming things up your rectum.

Policywise at a national scale, he did nothing for the working class. Get my rectum out of your mind queer boy.

 

[TruthNotBS]

Bill Clinton: Glass-Steagall repeal had nothing to do with financial crisis

Recently, activists have shown up at Hillary Clinton’s campaign events to urge her to bring back Glass-Steagall. What is

www.politifact.com

Is this what caused the most recent financial crisis? There’s plenty of room for debate here, given that there isn’t a single what-caused-the-crisis narrative that every economist accepts. It’s safe to say, though, that there is not a prominent group of economists who argue "but for the 1999 repeal of Glass-Steagall, the crisis would not have happened."

The statement that "there isn't a single what-caused-the-crisis narrative that every economist accepts" is accurate to some extent, as financial crises are complex and multifaceted events influenced by numerous factors. However, to suggest that the repeal of Glass-Steagall had little relevance because "there is not a prominent group of economists who argue 'but for the 1999 repeal... the crisis would not have happened'" oversimplifies the issue. While it’s true that no single factor solely caused the crisis, the repeal of Glass-Steagall played a significant role in creating the environment that allowed for the excessive risk-taking and intermingling of commercial and investment banking activities, which were key components of the crisis.

The repeal of Glass-Steagall removed the barriers between commercial banks, investment banks, and insurance companies, enabling financial institutions to grow larger, more complex, and more interconnected. This increased the systemic risk within the financial system, making it more vulnerable to the collapse of asset bubbles, such as the one in the housing market. The blending of commercial and investment banking allowed banks to engage in high-risk activities with depositor funds, exacerbating the crisis when the housing bubble burst and leading to massive losses that required government intervention.

While it is true that other factors, such as poor regulatory oversight, subprime lending, and global imbalances, contributed to the financial crisis, dismissing the significance of the Glass-Steagall repeal ignores how the deregulation allowed for the risky behaviors that magnified the crisis. The repeal was not the sole cause, but it was a critical factor that contributed to the scale and severity of the financial meltdown. By enabling financial institutions to engage in activities that intertwined commercial banking with high-risk investment practices, the repeal of Glass-Steagall created conditions that made the financial system more fragile and susceptible to collapse when the housing bubble burst. Thus, while not the only factor, the repeal of Glass-Steagall was indeed a significant element in the chain of events that led to the crisis.

 

[beagle9]

Barack Obama took several key actions to turn around the recession he inherited from George W. Bush, primarily through a combination of fiscal stimulus, financial sector stabilization, and regulatory reforms.

1. American Recovery and Reinvestment Act (ARRA)​

• In February 2009, shortly after taking office, Obama signed the American Recovery and Reinvestment Act (ARRA) into law. This $787 billion stimulus package was designed to spur economic growth and save jobs in the wake of the recession. It included a mix of tax cuts, unemployment benefits, infrastructure spending, and aid to state and local governments.
• The ARRA provided immediate relief by putting money into the hands of consumers and businesses, which helped to stabilize demand and prevent further economic decline.

2. Stabilizing the Financial Sector​

• Obama continued the efforts started under Bush’s administration to stabilize the financial sector. This included implementing the Troubled Asset Relief Program (TARP), which injected capital into banks to prevent them from failing. While TARP was initiated by Bush, Obama expanded its scope and use to address the crisis more comprehensively.
• Additionally, Obama supported measures to recapitalize and restructure failing banks, ensuring that the financial system remained solvent and capable of supporting the broader economy.

3. Auto Industry Bailout​

• The Obama administration intervened to rescue the U.S. auto industry, particularly General Motors (GM) and Chrysler, which were on the brink of collapse. The administration provided bailout funds and oversaw the restructuring of these companies, leading to their eventual recovery and the preservation of hundreds of thousands of jobs.
• The auto bailout, though controversial, was credited with saving a critical sector of the economy and preventing further job losses.

4. Dodd-Frank Wall Street Reform and Consumer Protection Act​

• To address the root causes of the financial crisis and prevent future economic disasters, Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law in 2010. This legislation introduced a range of regulatory reforms aimed at increasing transparency, reducing systemic risk, and protecting consumers.
• Key provisions included the creation of the Consumer Financial Protection Bureau (CFPB) to oversee financial products and services, and the Volcker Rule, which limited certain speculative activities by banks.

5. Unemployment Relief and Extension of Benefits​

• Obama extended unemployment benefits for millions of Americans who had lost their jobs during the recession. This provided critical support to those struggling to find work and helped sustain consumer spending, which is vital for economic recovery.
• The administration also implemented job training programs and initiatives to help the long-term unemployed reenter the workforce.

6. Support for Homeowners​

• The Obama administration launched programs like the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP) to assist homeowners struggling with mortgage payments. These programs helped millions of Americans avoid foreclosure and stabilize the housing market, which was at the heart of the financial crisis.

7. Long-Term Economic Reforms​

• Beyond immediate crisis management, Obama focused on long-term economic reforms, including investments in clean energy, healthcare reform (through the Affordable Care Act), and education. These initiatives aimed to build a more resilient and equitable economy for the future.

Results​

• By the time Obama left office in 2017, the U.S. economy had experienced significant recovery. Unemployment had fallen from a peak of 10% in October 2009 to 4.7% by January 2017. The stock market had rebounded, and GDP growth had resumed, though at a moderate pace. While not all aspects of the recovery were flawless, the actions taken by Obama helped to avert a deeper economic catastrophe and set the stage for sustained growth in the years that followed.

This multi-faceted approach, combining short-term stimulus with long-term reforms, was crucial in pulling the U.S. economy out of the worst recession since the Great Depression.

Why is any of this being debated or any of us having a look see back at ?

Kamala is running and not Obama, but then again by proxy he probably is running again through her, otherwise just like he did with Joe.

 

[TruthNotBS]

Russia sucks. Putin needs to fall out of an 8th floor window.

Hillary was a moron with her "reset" button.

Obama was worse with his "the 1980s called, they want their foreign policy back" quip.
Not to mention his promise of more flexibility after his re-election.
And don't get me started on Biden with his "minor invasion" idiocy.

all of the things in the previous link I provided.

The things that didn't pass until after the recession ended were the reason the recession ended?
Or did you mean they were the reason his weakest recovery in history was so weak?

Russia sucks. Putin needs to fall out of an 8th floor window.

Why does Russia suck and Putin needs to commit suicide?

 

[TruthNotBS]

Why is any of this being debated or any of us having a look see back at ?

Kamala is running and not Obama, but then again by proxy he probably is running again through her, otherwise just like he did with Joe.

I just checked the thread and Todd was posting his claims vs Obama.

 

[Toddsterpatriot]

For your eyes. Facts

View attachment 1001923

Thanks for the facts. Now show how weak his recovery was.
Because it was the weakest in history.

 

[Luckyone]

Thanks for the facts. Now show how weak his recovery was.
Because it was the weakest in history.

It was weak but when compared t0 the recession, it was good. By the way, it was not the worst in history. Bush Sr. Bush Jr, Truman and Trump had worse recoveries, though it does need to be mentioned that Trump only had 2 years to do a recovery, so perhaps if he had 4 years, it would have been better, though I personally doubt it. Trump can't get himself out of bag of potato chips,

 

[Toddsterpatriot]

​

The repeal of Glass-Steagall allowed financial institutions to engage in more aggressive and speculative practices, such as securitizing subprime mortgages. This led to the proliferation of mortgage-backed securities (MBS) and collateralized debt obligations (CDOs), instruments that were at the heart of the financial crisis. Investment banks, now integrated with commercial banking activities, had greater access to depositor funds, which they could leverage to take on higher-risk mortgage assets, exacerbating the bubble in the housing market.

The deregulation allowed banks to underwrite and sell risky mortgage products while also holding substantial amounts of these securities on their own books. When the housing bubble burst, the interconnectedness of these large financial institutions meant that the collapse in mortgage values had a cascading effect throughout the financial system. The lack of separation between commercial and investment banking facilitated a situation where the failure of large banks posed a systemic threat to the economy, leading to the need for massive government bailouts.

• ToddsterPatriot argues: That other factors, such as poor lending practices or the role of government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac, were more critical.
• Rebuttal: While these factors indeed contributed to the crisis, the repeal of Glass-Steagall allowed for the scale and interconnectedness of the crisis. The ability of banks to engage in risky, speculative activities without a firewall between commercial and investment operations amplified the impact when those risks went bad.

The repeal of Glass-Steagall allowed financial institutions to engage in more aggressive and speculative practices, such as securitizing subprime mortgages.

Glass-Steagall didn't prevent banks from writing, buying or selling bad mortgages.

The deregulation allowed banks to underwrite and sell risky mortgage products while also holding substantial amounts of these securities on their own books.

They didn't need Glass-Stegall to be repealed to underwrite and hold risky mortgages.
Or to sell those risky mortgages to Fannie and Freddie. Or to sell them to non-banks to be securitized.

The lack of separation between commercial and investment banking facilitated a situation where the failure of large banks posed a systemic threat to the economy, leading to the need for massive government bailouts.

Which commercial banks were put at risk due to their investment banking operations?
Did any of the banks that failed do so because of investment banking? Which ones?
Or did the failed banks own mortgages that weren't impacted by the GS repeal?

The ability of banks to engage in risky, speculative activities without a firewall between commercial and investment operations amplified the impact when those risks went bad.

Post your evidence.

 

[Toddsterpatriot]

Barack Obama took several key actions to turn around the recession he inherited from George W. Bush, primarily through a combination of fiscal stimulus, financial sector stabilization, and regulatory reforms.

1. American Recovery and Reinvestment Act (ARRA)​

• In February 2009, shortly after taking office, Obama signed the American Recovery and Reinvestment Act (ARRA) into law. This $787 billion stimulus package was designed to spur economic growth and save jobs in the wake of the recession. It included a mix of tax cuts, unemployment benefits, infrastructure spending, and aid to state and local governments.
• The ARRA provided immediate relief by putting money into the hands of consumers and businesses, which helped to stabilize demand and prevent further economic decline.

2. Stabilizing the Financial Sector​

• Obama continued the efforts started under Bush’s administration to stabilize the financial sector. This included implementing the Troubled Asset Relief Program (TARP), which injected capital into banks to prevent them from failing. While TARP was initiated by Bush, Obama expanded its scope and use to address the crisis more comprehensively.
• Additionally, Obama supported measures to recapitalize and restructure failing banks, ensuring that the financial system remained solvent and capable of supporting the broader economy.

3. Auto Industry Bailout​

• The Obama administration intervened to rescue the U.S. auto industry, particularly General Motors (GM) and Chrysler, which were on the brink of collapse. The administration provided bailout funds and oversaw the restructuring of these companies, leading to their eventual recovery and the preservation of hundreds of thousands of jobs.
• The auto bailout, though controversial, was credited with saving a critical sector of the economy and preventing further job losses.

4. Dodd-Frank Wall Street Reform and Consumer Protection Act​

• To address the root causes of the financial crisis and prevent future economic disasters, Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law in 2010. This legislation introduced a range of regulatory reforms aimed at increasing transparency, reducing systemic risk, and protecting consumers.
• Key provisions included the creation of the Consumer Financial Protection Bureau (CFPB) to oversee financial products and services, and the Volcker Rule, which limited certain speculative activities by banks.

5. Unemployment Relief and Extension of Benefits​

• Obama extended unemployment benefits for millions of Americans who had lost their jobs during the recession. This provided critical support to those struggling to find work and helped sustain consumer spending, which is vital for economic recovery.
• The administration also implemented job training programs and initiatives to help the long-term unemployed reenter the workforce.

6. Support for Homeowners​

• The Obama administration launched programs like the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP) to assist homeowners struggling with mortgage payments. These programs helped millions of Americans avoid foreclosure and stabilize the housing market, which was at the heart of the financial crisis.

7. Long-Term Economic Reforms​

• Beyond immediate crisis management, Obama focused on long-term economic reforms, including investments in clean energy, healthcare reform (through the Affordable Care Act), and education. These initiatives aimed to build a more resilient and equitable economy for the future.

Results​

• By the time Obama left office in 2017, the U.S. economy had experienced significant recovery. Unemployment had fallen from a peak of 10% in October 2009 to 4.7% by January 2017. The stock market had rebounded, and GDP growth had resumed, though at a moderate pace. While not all aspects of the recovery were flawless, the actions taken by Obama helped to avert a deeper economic catastrophe and set the stage for sustained growth in the years that followed.

This multi-faceted approach, combining short-term stimulus with long-term reforms, was crucial in pulling the U.S. economy out of the worst recession since the Great Depression.

In February 2009, shortly after taking office, Obama signed the American Recovery and Reinvestment Act (ARRA) into law. This $787 billion stimulus package was designed to spur economic growth and save jobs in the wake of the recession.

The recession ended in June 2009. How much ARRA money had been spent between
Feb-June 2009? $10 billion? Maybe? Not enough to credit with ending the recession.

Looks like the rest were mostly after the recession ended.

Real Gross Domestic Product | FRED | St. Louis Fed

View the annual rate of economic output, or the inflation-adjusted value of all new goods and services produced by labor and property located in the U.S.

fred.stlouisfed.org

Weak, weak, weak.

 

[Toddsterpatriot]

Why does Russia suck and Putin needs to commit suicide?

Who said anything about suicide?

 

[Toddsterpatriot]

It was weak but when compared t0 the recession, it was good. By the way, it was not the worst in history. Bush Sr. Bush Jr, Truman and Trump had worse recoveries, though it does need to be mentioned that Trump only had 2 years to do a recovery, so perhaps if he had 4 years, it would have been better, though I personally doubt it. Trump can't get himself out of bag of potato chips,

It was weak but when compared t0 the recession, it was good.

You claimed you were a stock ananlyst for 47 years? Hilarious!

 

[TruthNotBS]

The repeal of Glass-Steagall allowed financial institutions to engage in more aggressive and speculative practices, such as securitizing subprime mortgages.

Glass-Steagall didn't prevent banks from writing, buying or selling bad mortgages.

The deregulation allowed banks to underwrite and sell risky mortgage products while also holding substantial amounts of these securities on their own books.

They didn't need Glass-Stegall to be repealed to underwrite and hold risky mortgages.
Or to sell those risky mortgages to Fannie and Freddie. Or to sell them to non-banks to be securitized.

The lack of separation between commercial and investment banking facilitated a situation where the failure of large banks posed a systemic threat to the economy, leading to the need for massive government bailouts.
Which commercial banks were put at risk due to their investment banking operations?
Did any of the banks that failed do so because of investment banking? Which ones?
Or did the failed banks own mortgages that weren't impacted by the GS repeal?
The ability of banks to engage in risky, speculative activities without a firewall between commercial and investment operations amplified the impact when those risks went bad.

Post your evidence.

Todd, I get your point that banks could write, buy, or sell risky mortgages even before Glass-Steagall was repealed, but the real issue is what happened after the repeal. The repeal allowed commercial banks to dive into investment banking, merging the two worlds in a way that massively increased risk. When the housing market collapsed, banks like Citigroup and Bank of America, which had their hands deep in both commercial and investment banking, took heavy losses. The lack of a firewall between these activities made the financial system way more fragile.

If you're looking for evidence, the Financial Crisis Inquiry Commission (FCIC) report is a solid place to start. It clearly outlines how the repeal of Glass-Steagall allowed financial institutions to grow too big and too complex, increasing systemic risk. Economists from the University of Chicago also found that this deregulation played a significant role in the crisis by encouraging riskier behavior.

In short, before Glass-Steagall was repealed, we didn't see this kind of massive, systemic risk-taking at this scale. The repeal opened the door for banks to gamble with depositor money in ways that led directly to the financial meltdown. That's the key difference.

 

[TruthNotBS]

Who said anything about suicide?

So he should jump off an 8th-story window, unwillingly, as in, an assassination, not a suicide? Anyways, why do you believe "Russia sucks" and Putin should die?

 

[TruthNotBS]

In February 2009, shortly after taking office, Obama signed the American Recovery and Reinvestment Act (ARRA) into law. This $787 billion stimulus package was designed to spur economic growth and save jobs in the wake of the recession.

The recession ended in June 2009. How much ARRA money had been spent between
Feb-June 2009? $10 billion? Maybe? Not enough to credit with ending the recession.

Looks like the rest were mostly after the recession ended.

View attachment 1002094

Real Gross Domestic Product | FRED | St. Louis Fed

View the annual rate of economic output, or the inflation-adjusted value of all new goods and services produced by labor and property located in the U.S.

fred.stlouisfed.org

Weak, weak, weak.

The impact of the stimulus wasn’t just about the dollars spent right away. Even though only a small portion of the funds were spent between February and June 2009, the real power of the ARRA was in the message it sent. When Obama signed it into law, it showed that the government was taking strong, decisive action to stop the economic freefall, which helped restore confidence among businesses, investors, and the public.

That confidence likely played a big part in the recession ending in June 2009, even if most of the ARRA money hadn’t been spent yet. Plus, the plan was designed to have effects that lasted beyond those first few months, making sure the recovery wasn’t just a brief uptick. So while the early spending was modest, the ARRA still had a critical role in stabilizing the economy and laying the groundwork for a sustained recovery.

 

[Toddsterpatriot]

Todd, I get your point that banks could write, buy, or sell risky mortgages even before Glass-Steagall was repealed, but the real issue is what happened after the repeal. The repeal allowed commercial banks to dive into investment banking, merging the two worlds in a way that massively increased risk. When the housing market collapsed, banks like Citigroup and Bank of America, which had their hands deep in both commercial and investment banking, took heavy losses. The lack of a firewall between these activities made the financial system way more fragile.

If you're looking for evidence, the Financial Crisis Inquiry Commission (FCIC) report is a solid place to start. It clearly outlines how the repeal of Glass-Steagall allowed financial institutions to grow too big and too complex, increasing systemic risk. Economists from the University of Chicago also found that this deregulation played a significant role in the crisis by encouraging riskier behavior.

In short, before Glass-Steagall was repealed, we didn't see this kind of massive, systemic risk-taking at this scale. The repeal opened the door for banks to gamble with depositor money in ways that led directly to the financial meltdown. That's the key difference.

The repeal allowed commercial banks to dive into investment banking, merging the two worlds in a way that massively increased risk.

Did it increase risk? Show which commercial banks failed because of
their investment banking activity.

When the housing market collapsed, banks like Citigroup and Bank of America, which had their hands deep in both commercial and investment banking, took heavy losses.

How much of their losses were from just mortgage holdings?

this deregulation played a significant role in the crisis by encouraging riskier behavior.

What losses were from risky behavior? What losses were from mortgages?

The repeal opened the door for banks to gamble with depositor money in ways that led directly to the financial meltdown.

Show me the risky gambles.

 

[protectionist]

What happened? You either forgot everything you learned or are unable to comprehend what you read. All of that reading amounted to nothing for you, because you're still a right-wing, brainwashed, bootlicking drone. The fact that you're 78, and are so ignorant should be embarrassing to you.



You're correct because you're 78 and I'm wrong because I'm 51? Why even mention your age? What does that have to do with anything? We're all adults here, despite your cheap condescending, infantile antics.



And you apparently didn't grasp a word you read in those books.



And now in your late age, you're a senile right-winger, serving the rich at the expense of the working class.



Before you went senile and had your head screwed on straight.



Obama and Biden aren't leftists, they serve the same vested interests as the Republicans. The Democrats and Republicans are essentially, two sides of the same stinky turd. If you actually believe Obama and Biden are "leftists", I doubt you ever read the aforementioned books.




Your claim that there was "zero inflation" during Trump's presidency is misleading. While it's true that inflation remained relatively low, this was largely due to economic stagnation and the lack of wage growth, which kept consumer demand and thus prices down. The final months of Trump's presidency were marked by unprecedented government spending and monetary policy responses to the pandemic, which set the stage for the inflationary pressures that followed. Low inflation isn't necessarily a sign of a healthy economy for working-class Americans. You would know that had you actually learned anything from all of those books you supposedly read before I was born.




That's better than "parroting" all of those neoliberal, laissez-faire, right-wing, talking points.



They're definitely not new to you but nonetheless, you don't understand any of it. That's OK because I don't respond to your right-wing claptrap to convince you of anything, I write for those who are actually interested in the truth, not senile, geriatric right-wingers like you.



You clearly don't understand the graph, if you think it supports your stupid conclusions.

At least you are CONSISTENT. Constantly WRONG.

And you can't even read a graph. Back the 6th grade for you.

 

[Toddsterpatriot]

So he should jump off an 8th-story window, unwillingly, as in, an assassination, not a suicide? Anyways, why do you believe "Russia sucks" and Putin should die?

His enemies seem to fall from 7 stories or higher, maybe he'll do the same?

 

[Toddsterpatriot]

The impact of the stimulus wasn’t just about the dollars spent right away. Even though only a small portion of the funds were spent between February and June 2009, the real power of the ARRA was in the message it sent. When Obama signed it into law, it showed that the government was taking strong, decisive action to stop the economic freefall, which helped restore confidence among businesses, investors, and the public.

That confidence likely played a big part in the recession ending in June 2009, even if most of the ARRA money hadn’t been spent yet. Plus, the plan was designed to have effects that lasted beyond those first few months, making sure the recovery wasn’t just a brief uptick. So while the early spending was modest, the ARRA still had a critical role in stabilizing the economy and laying the groundwork for a sustained recovery.

The impact of the stimulus wasn’t just about the dollars spent right away.

LOL!

You don't have to convince me that the recession ended before anything he did could help.

That confidence likely played a big part in the recession ending in June 2009,

Meh.

Once TARP and the Fed's QE stopped the liquidity panic, the recovery was happening,
regardless of any wasteful Obama slush fund spending.

 

[protectionist]

Republicans and Dems were responsible for the 2008 prime mortgage recession. They made everything worse with their invasion of Iraq. Both Republicans and Democrats voted for the war, not speaking of the fact that the repeal of the Glass-Steagall Act in 1999 was a bipartisan effort.