He doesn't know what he's talking about, kira, ur from phillipines so won't understand american politics much but that guy is listening to nothing but republican propaganda. Stock market crashed in october 1929, unemployment went to 25%, and the republican administation didn't do shit for the next 3 years which didn't improve anything. FDR came and started spending money which brought down the unemployment to 10% before some idiots advised him to cut back and balance the budget in late 1936 in order to appear fiscally responsible for the upcoming election, this is what slowed down his reforms, and the unemployment jumped back up to 17%-18% till the war started. So you can't say FDR's new deal didn't work.
And to fight the war the U.S government was in deficits of 165%, they were borrowing all the money in order to win. Obama's stimulus puts the U.S in a 13% deficit, approximately $1.4 trillion. 1 trillion of that was bush's doing as he was the one to loan $700 billion dollars to the banks. Obama's stimulus gave 350 billion in taxcuts to working families who would actually spend the money since they need it, unlike the taxcuts to millionaires who wouldn't notice or care about few extra thousand dollars in their bank. Rest was to help the states who were on the verge of massive layoffs making the situation even worse, and there's money for the unemployed so they least keep pumping money into the economy and not starve till the economy improves. 125 billion was to fix the america's infrastructure. My only problem with that is that it wasn't enough money, china freaking spent 600 billion on their infrastructure program alone. There's nothing wrong in making the country better while at the same time keeping the economy going and giving jobs to millions.
He talks about wasting billions on big business, who's fuckin fault was that to begin with? There never should've been a need for it if the stupid bush administation had done it's job properly. Leze faire capitalism does not work, and it's been proven twice, once in 1929, second in 2008. There needs to be some good effective regulation. It was the fault of the republicans along with cowardly gutless democrats, including bill clinton who were responsible for repealing the glass steagal act which let the investment banks and commercial banks become one giant entity piling on huge amounts of debt while risking huge. And that is the reason their debt now had to be securitized/guaranteed by the federal government to the tune of 23 trillion dollars. Had the republicans not squandered the surplus clinton left us, had bush not given 2.3 trillion to millionaires, had they not wasted one trillion in Iraq, had they paid more attention to the huge amounts of bad risky investments the banks were making, had they not canceled the glass-stegal act of 1933 which FDR was responsible for, had they not put the U.S. into more debt with a unfunded 7 trillion dollar Medicare presription bill, we wouldn't be in this situation and would have some money left over to specifically deal with situations like this.
And now the ignorant, incompetant, arrogant fools want to blame Obama cause the economy isn't getting better as fast. They were ready to not do anything but just sit back and watch, or give more money to the rich. Obama's doing everything he can. Job losses declined by 2/3, the stock market is back up around 9400. The U.S. economy is 13 trillion dollar economy compared to 4 trillion japanese economy or 3.9 trillion chinese economy. If the U.S economy goes down, the rest of the world's economy goes down, but if they're doing better, it's only because the U.S economy has stabilized but that doesn't mean U.S economy has improved completely. It's improving and it's gonna take time.