Floridatexan wrote:Bob wrote:boards of FL wrote:
If there is a need to stimulate the economy, and if our fiscal policy is in order, a tax cut is a perfectly reasonable tool to use.
I'm trying to apply this philosophy to The Great Stimulus program of 2008.
Because arguably that's a prime example of when economic "stimulus" is needed.
But I don't recall you advocating any tax cuts for that one. Only A LOT more government spending and a lot more government debt.
The TARP (Troubled Asset Relief Program) was in 2008. That consisted of bailing out the banks, Wall Street, and the massive insurance co. run by your Uncle Hank. That was Bush's baby. The stimulus was in 2009, after Obama took office. That was intended to revive the economy. That was Keynesian...but IMHO it was too little, too late, because the Bush administration and their toadies weren't even acknowledging the recession and the housing bubble for more than a year. At the end of Bush's tenure, jobs were hemorrhaging at the rate of about 600,000 per month.
Tarp was paid back... even though I disagreed with it. Why do you need to be repeatedly reminded of the same facts?
http://www.wsj.com/articles/ally-financial-exits-tarp-as-treasury-sells-remaining-stake-1419000430