Common Sense Capitalism
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- Mar 14, 2010
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As many in Congress continue to push for more spending and our leaders push the G-20 to spend, one must ask if this spending is going to be effective?
Some say the stimulus and TARP helped to keep unemployment low.
Unemployment in the construction industry is around 30%. What good did the stimulus do there?
TARP was repaid at a $21 billion profit to government, how can that be if the banks were starving for capital. As it turns out, the FASB rule change allowed for banks to write up tens of billions in new capital and essentially hand it to the government.
How has this spending binge helped us? It has made government bigger and our debt bigger, but has it actually DONE anything else?
Some say the stimulus and TARP helped to keep unemployment low.
Unemployment in the construction industry is around 30%. What good did the stimulus do there?
TARP was repaid at a $21 billion profit to government, how can that be if the banks were starving for capital. As it turns out, the FASB rule change allowed for banks to write up tens of billions in new capital and essentially hand it to the government.
How has this spending binge helped us? It has made government bigger and our debt bigger, but has it actually DONE anything else?