The OP, and the thread main topic was someone still bitching about Bush 2.5 years later and republicans love to cry? you gotta be shitting me Also get your facts straight, democrats took congress in 2006 with one Barack Obama as part of the senate. I don't want another Bush so I am not going to defend him, but to still be even talking about him after 2 years of complete demo control is pathological. To bash his policies yet continue them is dysfunctional.
Mav88 you're blinded by your politics. If you were hit by a car 2 1/2 years ago and going to therapy since then. Yeah your therapist may be screwing up and you're not happy with the recovery. That my friend is why Bush and his cohorts are still revenant. If this was any other subject except "I hate Obama" you would agree. Didn't you guys bitch and moan about Clinton for years and still do some on these threads. If you guys were smart you would push to get Hillary elected, she would be a better choice than anyone right now, republicans or democrats. As of right now the republicans are hijacked by the extremest and their policy is a collection of sound bites. Get someone who won't suck Rushs balls and kiss up to the illogical right then I'll make an honest consideration to vote for him or her. I probably would of voted for Obama anyway, but I was giving McCain serious consideration until I heard Palin speak. If your party makes the same mistake again Obama will win again.
The Bush tax cuts were a good idea at the time. Then the wars came, and who was asked to sacrifice? The working class, of course. They sacrificed their families, income, and in many cases their lives. What did the wealthy sacrifice? Nothing! They profited! It would have been prudent, and yes patriotic, for Bush to have said, listen fella's, in time's like these we can't be padding our pockets. Let's step up, pitch in where we can and get this thing done. Instead, they wore their little flag pins, sang God Bless America, and rang the register. Now we're in debt up to our collective eyeballs, and once again, who is asked to sacrifice? The scam continues!
Our economic train wreck was created in the 1990s by BOTH polictical parties who supported two of the dumbest moves in the entire history of economics. First, they repealed the Glass-Steagall Act that had, for over 60 years, put a fire-wall between banks and high-risk investment activities (80+% support from both political parties); and then they forced Fannie Mae into the positon of taking on risk it had never taken before. (also with 80+% support of both polictical parties). In September of 1999, an article in the New York Times predicted with amazing accuracy the financial collapse that would begin seven years later. --------------------------------------------- NEW YORK TIMES Fannie Mae Eases Credit To Aid Mortgage Lending By STEVEN A. HOLMES Published: September 30, 1999 WASHINGTON, Sept. 29â In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders. The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans. ''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.'' Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market. In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's. ''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
tom- you're talking all common sense here. You've got to stop. It was the the Bush tax cuts for the rich that did us in. Just think of all the money the rich have stolen from people who don't have any. If the rich hadn't taken money from the folks who don't have it, everything would be fine and the there would be no global warming.
Yeah, it's pretty ridiculous to blame it all on some rich guy. Not quite as absurd as blaming it on some time clock punching Joe Lunch-Bucket and his benefit package, but ridiculous none the less. Our bought and paid for politicians did this to us and far as I know Joe Lunch-Bucket can't finance that kind of action.
I haven't read it yet but i guess it's suppose to be damn good. http://www.amazon.com/gp/aw/d/08050...mp=1789&creative=9325&creativeASIN=0805091203
Of all the reasons for the 2008 debacle, I have never seen anyone able to blame it on the 2001-2003 tax cuts, nor does it even make sense. As for the deficit, it might be lower but it sure the hell is less of an effect on the budget than stimulus and probabaly has more economic benefit. Another point for the bush tax cut = evil crowd, why were tax cuts part of Obama's stimulus package? If they don't work, then blame your own party.
Hey republicans quit your bitching, if you don't like the way things are then do something about it. You guys are the self proclaimed experts on everything. Each one of you start a business hire a bunch of white Americans and export the hell out of your products. Build a mansion with the millions you'll be making and all your well paid employees will move up in housing too. Housing crisis solved, deficit solved by decreased unemployment and government payouts and increased tax revenue on the huge profits you will be making. This shouldnt be hard for the republicans because you guys are so smart and talented. And most importantly because you really really love America.