One of the most important elections in our lifetime stands before us. The importance of the facts versus the fiction is even more important. All over the country debates amongst friends, families, neighbors take place and the key topic is "what is wring with the economy?". One political party says this, the other says that. Each finds a way of validating their version of reality and in the process often misinform the public. The reality is that today's citizen often gravitates to the first absurdity they read and registers it as factual. The networks have a field day fighting for ratings and running the gossip angles to the ground hike barely offering timem for actual facts. The truth is the anchor, the producer, the writers..someone in that chain of handling information has a bias or preferrence, afterall we are human beings with free will.
The stimulus packages that have been offered during President Obama's term in office have spawned more rumors and misinformation than I care to even jump into. So for the sake of sanity I will say it how it is in terms everyone and yes even those in denial can understand.
Too big to fail: the truth here is that a stimulus was needed, investment corporations although u deserving are so tied into every aspect of our economy that unhinging a relationship with them overnight is impossible without seriously jeopardizing the prosperity of the nation on a global scale. The republican party themselves realized this as the first stimulus package was put together under former president Bush's watch and finalized by Obama's administration as contingency of continuance in a transitional period between presidents. The one aspect of this package that's oft criticized is the lack of government control over how issued funds would be used, that was not agreed to by our current administration. That aspect of the package was put together by the former presidents staff long before Obama took office. Too big tO fail was crippling in that the average business that depends on a credit line to make payroll would no longer have it, thus leaving hundreds of thousands of citizens unemployed overnight. The cost of the stimulus would in the end be more cost effective as an alternative to the government services providing unemployment assistance funds. The original stimulus package was not to create jobs but to save them.
Part 2: stimulus 2 "lobbyin interests" coming soon