Dear Ladies of the View, if you don’t have the time to inform yourselves, stay the f—k out of politics, because you are not helping with the huge disconnect between reality and the Republican/Fox News memes.
This is what happened today on The View.
Joy Behar asked Newt Gingrich what he thinks of the fact that Obama has been getting so much criticism because people say that TARP failed, TARP was too big, the stimulus didn’t work, and so forth. Predictably, Gingrich repeats the ongoing right wing memes re TARP, etc., and not even ONE of the ladies calls him on it, presumably because they did not know any better.
For your information, Wingnut Gingrich, and Ladies of The View, the actual facts.
1. The stimulus was not a failure. Not only was it not a failure, but a huge number of Republicans had their hands out to grab the money while the "failure" word came flying out of their mouths at regular intervals, 114 of them took credit for the same stimulus that they voted against. Additionally, the stimulus cost $787 billion, not $1.2 trillion, created 3.3 million new jobs, and prevented an even deeper recession.
Yes, we know it wasn’t big enough. But hey, with the obstructive Republicans in both Houses, Obama was lucky to get even a relatively small stimulus through.
2. TARP, also known as the bailout of the Big banks, and initiated under George W. Bush in 2008, worked, and, not only did it work, but the government expects to break even. That means, for the slow people, that it won’t cost taxpayers a cent.
From the oversight committee, a grudging acknowledgement:
There is broad consensus that the TARP was an important part of a broader government strategy that stabilized the U.S. financial system by renewing the flow of credit and averting a more acute crisis. Although the government’s response to the crisis was at first haphazard and uncertain, it eventually proved decisive enough to stop the panic and restore market confidence.
Moving right along, Newt Gingrich spent his time laying out his memes, including the one where Sarah Palin writes her own Facebook posts. Not. And not even one of the ladies called him on it.
Whatever was said after I switched it off in rage, I hope someone else will take note.