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I sincerely think we cannot pick just one. Both are responsible for the mess we are in, we argue, we get mad, we put the other party down, for what, they have both got us fiscally in trouble. One is not better then the other, although we beg to differ with each other.
We can start with Fannie and Freddie, and not Mac on the side, Clinton, there we have the Bush War, We have had our share of Bailouts, Obama's crappy Stimulus Package, Health Care Reform.
And i believe the one that truly has gotten un in trouble is one of the Worse Housing Bubbles we have had in a while, with Home Values, plummeting to such low levels, and with unemployment, and the economy, has led to so many losing their homes. Which in turn leads to more Repos, Bank owned Properties and foreclosures. Leaving no room for regular listings, so much inventory of Bank Foresclosures.
Both Parties don't seem to have a problem with spendinng, more spending, and spending, but we are the ones that have to tighten our belts.
Along with Investment Bankers, Bad Loans, so many are ar fault, how can we pick just one!
Congress and Bush-41 passed FHEFSSA '92 which imposed federal "affordable housing goals" on Fannie and Freddie for the first time. The Act required each of the GSEs to dedicate 30% of their mortgage business to minority and/or low-income homeowners.
Both Progressive Democrats and Progressive Republicans. They both believe in expanding the size and scope of gov't. And ultimately the US Congress for voting on entitlement programs like Social Insecurity, Medicare and Medicaid.
We need a return to the founding principles of this country...individual responsibility, eliminating debt, smaller gov't, lower taxes, less gov't spending.
the federal government in general is responsible. elected officials make bad laws and spend too much money, and government employees dont do their jobs either. but lets also look at ourselves. when people who make $50k per year sign up for a $700k mortgage, something is wrong. yes the government pushed the banks to make the loans, and yes the banks loosened up the loan requirements, but at some point the people signing the papers should have stopped and thought can i really afford this loan? if the answer comes back as no, then they should NEVER have signed the papers.
so in essence, everyone is to blame for the problems we have now.
another reason that the people need to accept blame is that we dont hold our elected officials to their promises. we heard obama and the democrats say they wanted fiscal responsibility, we heard them say they wanted transparency in government, they hears when pelosi said she wanted to drain the swamp of corruption, and we sat back and said ok we will fire the republicans, and hire you. now we are giving the republicans a new chance, and if they screw it up, there will be a third party that will take over from the republicans. but WE THE PEOPLE have to do our job as well. we can no longer sit back and tell our elected officials have at it, and wait for the next election.
Clinton was responsible for starting the mess with Fannie and Freddie. Bush went to war and wartime is always uncertain. Bush also did the first bailout, which I disagreed with. Obama has tried to "stimulate" the economy and failed miserably. He has also passed massive healthcare legislation that makes folks in the business world even more leery of investing, starting businesses, hiring, etc. The speculators in part made the housing bubble burst in 2006, speculators also caused gas prices to skyrocket a few years back. There's not one single party or person to blame.
If you want to rephrase the question and ask who started it, I'd point the finger at Clinton.
Keep going. Jimmy Carter was in the charge when the government decided to play with the housing industry instead of letting the Free Market decide. Community Reinvestment Act of 1977
Neoconservativism. It was a one trick pony sold as the end all be all answer to all things & dems didn't see the problems with it. If this were medicine it would be the equivalent of forcing everyone to take insulin for decades because a patient in room 844 had diabetes.
Neoconservativism. It was a one trick pony sold as the end all be all answer to all things & dems didn't see the problems with it. If this were medicine it would be the equivalent of forcing everyone to take insulin for decades because a patient in room 844 had diabetes.
What is your definition of "neoconservatism?" The reality is that MOST of America lives their lives right of center. The problem with Republicans(RINOS=republican in name only) and psudo conservatives is that they were not true to the actualy fiscally conservative values of SMALLER GOV'T and LOWER TAXES and LESS GOV'T SPENDING. In my opinion the reason Reagan gets criticized is because he only did half the job. He lowered taxes but did NOT cut Gov't spending. He left office witha deficit higher than when he entered as MOST presidents have done.
Andrew Jackson was one president who did both! He CUT GOV"T SPEDNING(the national budget/deficit) AND HE LOWERED TAXES.
Andrew Jackson’s removal of federal deposits from the Second Bank of the United States into favored ("Pet") state banks, and his Specie Circular of 1836 (causing government land deals to be transacted in gold) affected confidence in the value of bank notes. Foreign creditors (the British) called in American debts, and speculation ran rampant. In the Panic of 1837, Jackson’s chosen successor, Martin Van Buren, was faced with a run on banks.
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