Wednesday, October 14, 2009

CNBC discounts Obama financial success

Today on CNBC the hosts were talking about the latest "DOW 10,000". They hesitated about being overly excited because of all the government "backstops" and "propping" up. They were essentially saying the government got it right in terms of helping the economy. Yet they were quick to note they were referring to the Federal Reserve.

No doubt the Fed's expanding the money supply, cutting interest rates, loan programs, and use of every tool available is an important part of what seems like a recovery. But the hosts clearly don't want to celebrate Obama. It's because he is a left of center Democrat. It's because the Obama fiscal policy is working. It's a shame politics prevents people from being honest.
Whenever there is a downturn, "big government", "fear of Obama", and "uncertainty" about the future lead the way. All of course are due to our President(?)

The Obama team led by Tim Geithner has and is doing:

-directing TARP bailout funds properly. Including re-using funds paid back creatively and avoiding a second TARP and Congressional debate. For example using the funds to buy up SBA loans to free up credit for small businesses
-the anti-foreclosure plans
-re-appointing Bernacke to the Fed

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