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Just Economics: Barack = Bush?
Let us not discuss foreign policy or war or those other nascent issues for a moment. Let us just look at economic policy. Barack Obama says we cannot afford a continuation of the Bush administration's economic policies, and he is right. The question you have to consider is: "Whose economic policies are more like the Bush administration's, John McCain's or Barack Obama's?"
If you do not want to think about it, then you just have to look at the (R) after their names and assume it is McCain. If you want to think about it, you may want to look at George Bush's economic policies. George Bush has significantly increased the size
and role of the government. Much of the economic mess we are in today is because the Bush administration wanted to increase home ownership so the government sought the lowering of standards by which loans were made. George Bush gave us a ridiculously expensive, burdensome entitlement program in the prescription drug plan. We now have the Department of Homeland Security, something we managed to survive without for more than 200 years. Clearly, George Bush has showed a significant predilection for government in all forms. Does this sound like someone who should have an (R) after their name?
So when Barack Obama says we cannot afford the continuation of George Bush's big, interventionist government, he is right. Unfortunately, it appears that this is what Barack Obama is planning.
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I don't think that it is the size of government that has caused this unprecedented downturn in our economy. The fact that you even tried to float the argument made me throw up a little in my mouth. Where the Bush administration went wrong was their hands off regulation policy, the go business attitude. Just one example.... Bush appointed to the head of the S.E.C. Harvey L. Pitt who didn't believe in the existing financial regulations. The bit about government being to big caused this economic mess is ludicrous.
"...throw up a little in my mouth." Is that because you were afraid the teet you wish to feed off was not going to be flowing government milk?
Where, just so we understand, did we say "the size of government that has caused this unprecedented downturn in our economy"?
Unprecedented? So this has never happened before? Really? That's one word that sends up a red flag telling me that you most likely know very little about what you're about to say. There is no "right" answer. That varies depending on what YOU think is "right". If you believe in free markets and capitalism. All of these companies should have been allowed to fail and their assets absorbed by (in theory) the "better" more efficient properly run competition; not bailed out.
Hear! Hear! Let the strong survive and flourish and we will have a better economy for all. Saving the poorly run companies encourages, rewards mediocrity.
George Bush was not the one who insisted the banks open up lending to minorities and poor peole and minorites. That action was taken by Bill Clinton in 1992. He wanted 70% of Americans to own homes. He had regulators sent out to make sure banks made a portion of their loans to minorities. George Bush is quoted in the NYTimes in July of 2003 as saying that this type of lending needed to be curtailed. The democratic congress said he was exagerating the problem. John McCain said in 2005 that Fannie Mae and Freddie Mac needed to be reigned in-and if they weren't it could lead to financial peril And here we are. But, who's actions caused it.
You can't blame this one on Bush, or McCain. Home ownership for everyone is a noble cause, but it is going to cost us. But I think the banks will pay back most of this money with interest. The government needed to jump in to stop a financial meltdown. This was a good call.
The politicians who received the most money from Fannie Mae and Freddie Mac since 1989 to today were: 1) Christopher Dodd (d) Connecticut $115k 2) John Kerry $105k 3) Barack Obama $85k 4) Hilary Clinton $79k Bush and McCain are not even in the top 25. Look it up to confirm.
Clearly, the beginning of the problems we have today can be lain at the the feet of the Clinton administration, but George Bush has been president for the last eight year and has done nothing to avert the problems foreseen by McCain and others.
As a matter of fact, he has done nothing to help matters:
# Expanding Homeownership. The President believes that homeownership is the cornerstone of America's vibrant communities and benefits individual families by building stability and long-term financial security. In June 2002, President Bush issued America's Homeownership Challenge to the real estate and mortgage finance industries to encourage them to join the effort to close the gap that exists between the homeownership rates of minorities and non-minorities. The President also announced the goal of increasing the number of minority homeowners by at least 5.5 million families before the end of the decade. Under his leadership, the overall U.S. homeownership rate in the second quarter of 2004 was at an all time high of 69.2 percent. Minority homeownership set a new record of 51 percent in the second quarter, up 0.2 percentage point from the first quarter and up 2.1 percentage points from a year ago. President Bush's initiative to dismantle the barriers to homeownership includes:
* American Dream Downpayment Initiative, which provides down payment assistance to approximately 40,000 low-income families;
* Affordable Housing. The President has proposed the Single-Family Affordable Housing Tax Credit, which would increase the supply of affordable homes;
* Helping Families Help Themselves. The President has proposed increasing support for the Self-Help Homeownership Opportunities Program; and
* Simplifying Homebuying and Increasing Education. The President and HUD want to empower homebuyers by simplifying the home buying process so consumers can better understand and benefit from cost savings. The President also wants to expand financial education efforts so that families can understand what they need to do to become homeowners.
Clearly, Bush must be held accountable for his inaction and the inaction of his administration, and he must also be held accountable for what he is doing today: The RTC (Resolution Trust Corporation) was set up to deal with the assets for failures in financial institutions. Bush wants government to prevent failure, when failure is what gives birth to success, especially in a capitalist system.
EVERY CONGRESSMAN AND SENATOR SHOULD BE FIRED. WE SHOULD START OVER FOR THE CURRENT ROSTER OF OUR CONGRESS ARE CROOKED, CORRUPT, AND THIEVES OF THE WORST KIND. THEY SHOULD BE PUT IN JAIL. WE HAVE BEEN FIGHTING COMMUNISM FOR 50 YEARS AND NOW WE ARE TURNING INTO A COMMUNIST COUNTRY. I AM GLAD I AM 78 YEARS OLD AND WON'T BE AROUND WHEN WE HAVE AN ARM AND CYCLE ON OUR FLAG.