…by a two-to-one margin, likely voters in the Nov. 2 midterm elections think taxes have gone up, the economy has shrunk, and the billions lent to banks as part of the Troubled Asset Relief Program won’t be recovered.
— Bloomberg Businessweek, 29 October, 2010
In fact, none of that is true.
Bloomberg Businessweek sets the record straight:
Fact: The Obama administration has cut taxes — largely for the middle class — by $240 billion since taking office on Jan. 20, 2009.
Fact: The U.S. economy grew at a 2 percent annual rate in the third quarter as consumer spending climbed the most in almost four years.
Fact: In the past year, the economy has grown 3.1 percent.
Fact: The U.S. Treasury has recovered most of the $245 billion spent on the Wall Street bank part of the rescue, and expects to turn a $16 billion profit.
Taxes have gone down not up, the economy is growing not shrinking, the TARP funds are mostly recovered; some at a respectable profit to the American people.