thereisnospoon
Gold Member
I see you are simply stuck in a world of delusion.Please explain how reducing the debt will create jobs? THAT is all Republicans are focused on. Why wouldn't consumer confidence be waning if they might loose their jobs and have safety net programs cut or eliminated.
Explain how allowing the national debt to increase without any end to the madness in sight helps the economy? Then explain how billions in what amounts to transfer payments from one bloated governmental entity (federal) to those of the several states (so-called stimulus packages) helps the private sector? Then explain how flooding the market with devalued dollars in order to cover the debt helps the economy?
THEN please tell me where all the jobs are. The Bush tax cuts for the 'job creators' have been in effect for a decade now. And Obama even signed an extension. Those elite you right wingers worship should be shooting jobs out of their asses.
Dude! Keynesianism doesn't work! It never has!
The economy was holding up just fine given 09/11 and its aftermath until the housing market crashed . . . due once again primarily to the incompetence of Democrats pushing bad loans onto the market via Fannie Mae and Freddie Mac in the name of social justice. Idiots! Bush's response was Keynesianism. Obama's response was Keynesianism on steroids. It doesn't work! It saps economic strength. It encourages reckless behavior.
Taxes are too high and spending is out of control, but mostly spending is out of control. It has to stop. And once Obama is out on his dumbass where he belongs, we Republicans will go in and fix it all over again like we did in the 1980s and '90s, only this time perhaps there will finally be the political will to pass the kind of entitlement reforms necessary to fix the essence of the problem once and for all.
For lefty sure as hell isn't going to do it.
He's a coward, a liar, a demagogue, a socialist, two-bit punk. He's insane, mad, out of his friggin' mind.
Now I see your problem. You're an idiot. Everything you just said is FALSE.
The economy under Bush was not 'holding up just fine'...now that the dust has settled and studies and information have been gathered, the Bush/GOP years will be called the Lost Decade...ZERO job growth, lower wage growth than during the Great Depression and half the public debt that will accrue by 2019 is because of Bush's tax cuts and his two unpaid for wars.
The financial crash had NOTHING to do with selling homes to low income citizens, the majority of people foreclosed on were wealthy. It was not caused by Fannie or Freddie, it was caused by private lenders outside of government regulations. And the REAL kick in the ass for right wing idiots like you...the loudest voice that warned about predatory lending starting way back in 1999....was ACORN.
Please remove the word 'liberal' next to your avatar...replace it with one of the following:
1) Idiot
2) Moron
3) Pea brain
Genius...The federal government mandated that loans be made to people who in the past would not have qualified for a mortgage. The banks were told to do this and were threatened with charges of "red lining". The government told the banks that loans would be guaranteed by the federal government. New housing developments in high growth areas sprung up like like crabgrass in the spring. All kinds of creative loans were made. Buy downs and ARM's led the way. Of course the banks would go for it.
The buying and selling of mortgages became it's own industry. Again with government backing. As early as 2003 Congress was told to rein in Fannie/Freddie because the program was rapidly approaching insolvency. The government offered up another incentive to keep the heat on housing. Credit Default Swaps and mortgage backed securities.
Most of these homes were starter homes sold to low and moderate income people who absolutely no business buying a home. Yes there were foreclosures of homes sold to high income people. Primarily, these people bought when the market was hot. They used ARM's. These sales were to people who had plans to sell within a year or two. This worked out just fine until the bottom dropped out. At the end of the ARM term the buyers were unable to make the new and much higher payment. They defaulted on the loans and went through foreclosure.
Bottom line. Had the federal government not interfered with the housing market, none of this would have happened.
Now you will in utter frustration call me names. Have at it. It's of no meaning to me. I have the facts on my side.