Supporting argument:
The 750 billion dollars the United States has spent on the war on terror vastly outweighs the relatively trivial amount we spent reacting to the economic crisis of 2008 and onward. The 700 billion dollar Troubled Assets Relief Program ended up costing taxpayers far less than initially expected. In August the Congressional Budget Office downgraded the expected cost to approx. 66 billion dollars. Now, the treasury expects the bailout, the main reason for the tea party reaction, to cost less than 50 billion dollars, as the WORST CASE SCENARIO. So, not only has the Obama Administration stabilized the U.S. economy, the king-pin of the world economy, and probably staved of a worldwide fiscal implosion, but now stand to potentially turn a profit from TARP.
Under that new light, the huge public debt tea party activists so abhor is mainly due to the Republicans new, but actually old (thanks Mr. Stewart), idea of military expansion and tax cuts.
http://www.nytimes.com/2010/10/01/business/01tarp.html?_r=1&hp
Slashdot Mirror
Supporting argument: The 750 billion dollars the United States has spent on the war on terror vastly outweighs the relatively trivial amount we spent reacting to the economic crisis of 2008 and onward. The 700 billion dollar Troubled Assets Relief Program ended up costing taxpayers far less than initially expected. In August the Congressional Budget Office downgraded the expected cost to approx. 66 billion dollars. Now, the treasury expects the bailout, the main reason for the tea party reaction, to cost less than 50 billion dollars, as the WORST CASE SCENARIO. So, not only has the Obama Administration stabilized the U.S. economy, the king-pin of the world economy, and probably staved of a worldwide fiscal implosion, but now stand to potentially turn a profit from TARP. Under that new light, the huge public debt tea party activists so abhor is mainly due to the Republicans new, but actually old (thanks Mr. Stewart), idea of military expansion and tax cuts. http://www.nytimes.com/2010/10/01/business/01tarp.html?_r=1&hp