If GOP wins, consumers lose, Obama warns

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  • SME Kearns, UT
    Oct. 25, 2010 7:41 a.m.

    Obama promised that the measure ensures that taxpayers will "never again be on the hook for a bailout."

    Fannie May and Freddie Mac anyone? The feds have now admitted that the bailout for those two will be more than double what they orignally claimed. I don't think there is an end in sight at this point.

  • Rifleman Salt Lake City, Utah
    Oct. 24, 2010 5:15 p.m.

    Governments, like private citizens, can't spend their way out of financial red ink. California is living proof of that statement.

    The liberals in California wanted to borrow money against future lottery revenue earnings to pay yesterday's bills. Sooner or later tomorrow's bills will come due and then what will they borrow against?

    The voters are going to help Obama learn that we are tired of him throwing our money down the drain.

  • Outraged in Ogden Ogden, UT
    Oct. 24, 2010 4:30 p.m.

    It is actually Economics 101 that the Government needs to help keep the economy going in times like these. The Great Depression ended because of projects proposed by the New Deal. Japan endured the lost decade because they didn't intervene and tried to let the free market ride it out.

    Here's where we might agree--maybe. If the corporations paid their fair share of taxes and avoided loop holes, we would be better off. Government does need to balance budgets. That is for sure, but it is tough to enter a situation where the economy, the Car Industry, Wall Street, etc. will collapse if you don't intervene as a government. To let the whole thing fall would have created unbelievable job losses. To let millions suffer because of the greed of the powerful is irresponsible. The debt is necessary in this case.

    I don't think the debts were necessary for tax cuts and the Iraq war like under Bush, but that is in the past. Time to move forward and start balancing budgets now. I believe Obama has a plan in place to get back to balanced budgets in time while being responsible.

  • Rifleman Salt Lake City, Utah
    Oct. 24, 2010 12:51 p.m.

    It is economics 101 Outraged in Ogden. Government can't give the people anything they don't take away first.

    Federal aid is like giving yourself a transfusion from your left arm to your right arm through a leaky tube!

  • Furry1993 Somewhere in Utah, UT
    Oct. 24, 2010 9:51 a.m.

    President Obama is right in his comments.

    Additionally, if the Republicans win then the country will lose because fascism will be imposed on the country through the policies of the far right authoritarians now in control of the Republican Party.

    The country deserves better.

  • Outraged in Ogden Ogden, UT
    Oct. 24, 2010 9:10 a.m.

    Yeah Chris B, we need to let the market crash and have unemployment go to 30 percent. Small minds will never know what problems would have ensued had the Government not step in, but continue to howl at the moon while the more responsible part of the US is grateful for the help.

  • Chris B Salt Lake City, UT
    Oct. 24, 2010 12:12 a.m.

    Let's recap how barack has helped consumers:

    I'll spend a trillion dollars of your money to "prevent unemployment from reaching 8%"

    Great return on investment barack.

    Get him out.