Quote:
Originally Posted by Tully Mars
Cash for cars and new home credits didn't keep people building and selling house and cars?
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People are going to replace cars anyway in most cases. So cash for clunkers just borrowed against future car sales to spike the market for a few months. The $8000 credit for houses spiked the sales in housing for a while. Once that ended, sales went down again and the housing market is still not in good shape.
In those cases, as well as other Obama programs, that money is not going to be paid back.
The government should not have spent my (taxpayer) money on these giveaways. Let the market work itself out.
Quote:
Originally Posted by Tully Mars
So when it dropped nearly in half, over 6,000pts under Bush it wasn't the POTUS fault but when it goes now 2000pts under Obama it is the POTUS's fault?
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When the president makes specific statements talking down the economy? Yes.