by Sandy » Sun Nov 16, 2014 11:03 pm
The $11 billion is conservative media stuff, not fact. The purpose of a large business loan like this is a bail out, no doubt. And it is certainly a risk. But if the banks or big financiers get involved, the profit margin kills the company borrowing it, burying them in debt and killing the jobs rather than saving them. The government has been in the low interest loan business for a long time (see: Small Business Administration) and of course conservatives chafe and buck at the very thought of someone of their ilk not being able to cash in and capitalize and profiteer on the interest. It's the taxpayers money, and we can do what we want with it.
The boost in domestic oil production is the result of tax credits and incentives put in place by the Obama administration. Bush preferrred to enrich his buds in the business who refined foreign oil, and that drove our dependence on them up, as well as the price, increasing profits for the corporate entities, and enriching some of his good, personal friends in the process. Some mid sized American producers, like Marathon and Sunoco, are enjoying the benefits of domestic drilling and production.
The deficit is spending that is allocated, but not covered by government revenue, thus it is always calculated as a percentage of whatever budget is passed. Spending and revenue are variable, so comparing one budget to another is apples and oranges comparison, and you can twist that to make it look however you want it to look. And yeah, those dropping unemployment numbers are hard to swallow for Republicans, considering what theirs have been pretty much every time one of them gets hold of the White House, so we have this "dropping out of the workforce" crap that gets spread around. The real story, though, is that the stock market has soared to record heights, indicating booming economic growth, and the job creation numbers indicate pretty clearly that the pool of those who dropped out of sight has been shrinking considerably. And it's also hard to argue that people are just dropping out of the job market, when the addition of new jobs is increasing exponentially, and the work force is larger than it ever has been. Can't be too many people out there who have given up looking for work, except, perhaps, chronically unemployed.