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View Diary: Obama's Stimulus Saved the U.S. Economy - Private Debt Dropped $4 Trillion in 4 Years (72 comments)

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  •  I just put a ruler on that top graph: household (4+ / 0-)

    debt is now back to '03 levels.  That's pretty impressive, especially given the extra burden on underwater households placed on them by the execrable bankruptcy reform act.  IE, if the former bankruptcy laws, which shifted the burden from beleaguered consumers to credit card companies and mortgage companies (whose practices were directly responsible for much of the financial calamity we're enduring), had been in effect, the climb out of this hole would have been much quicker - although the stock prices of the aforementioned bad actors in the financial sector would have been much less spectacular to watch recover over the last 4 years.

    "Well, yeah, the Constitution is worth it if you succeed." - Nancy Pelosi // Question: "succeed" at what?

    by nailbender on Wed Oct 10, 2012 at 01:12:01 PM PDT

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