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Well, i don't know about that. It was W who loudly boasted in a State of the Union address that so many americans, espec minorities that were homeowners. I think that all of the crooked politicians share in the blame. I do resent that Obama administration supports the bankruptcy judge;s right to reduce the principal owed on a home. that's just wrong. ppl need to take responsibility for their poor decisions. i should not have to support them. Let the housing market fall down to natural levels so that the savers of the country can afford to buy homes.
You fail to remember that it was Bush who tried to stop the careless lending practices of Fannie and Freddie, but the Dumbocrat controlled Congress wouldn't do it. Barney Frank, Chris Dodd, Maxine Waters and a host of other Dims were outraged that poor, unqualified people would not be allowed to buy a house they couldn't afford. Remember? Nah, I didn't think you would!
Are you Obama supporters following Obama's direction to spend money? Are you buying stuff to improve the economy and reduce unemployment?
Are you buying homes, cars, furniture, appliances, artwork, computers, televisions, carpet, jewelry, clothes, etc., etc., etc.?
If not, why aren't you?
Some reading for you, it seen you have forgotten the reason we're in this situation. United Stated National Debt (http://www.cedarcomm.com/~stevelm1/usdebt.htm - broken link)
Quote - In 1993 President Clinton inherited the deficit spending problem and did more than just talk about it; he fixed it. In his first two years, with a cooperative Democratic Congress, he set the course for the best economy this country has ever experienced. Then he worked with what could be characterized as the most hostile Congress in history, led by Republicans for the last six years of his administration. Yet, under constant personal attacks from the right, he still managed to get the growth of the debt down to 0.32% (one third of one percent) his last year in office. Had his policies been followed for one more year the debt would have been reduced for the first time since the Kennedy administration. Contrary to the myth fostered by our right-wing friends, under a Democrat, revenue increased and spending decreased.
When President Bush II came into office in 2001 he quickly turned all that progress around. With the help of a Republican controlled Congress he immediately gave a massive tax cut based on a failed economic policy; perhaps an economic fantasy describes it better. The last year Mr. Clinton was in office the nation borrowed 18 billion dollars. The first year Mr. Bush II was in office he had to borrow 133 billion[8]. The first tax cut Bush pushed through a willing Republican Congress caused an upswing in government borrowing that was supposed to stimulate the economy, but two years later Bush had to push through yet another tax cut. The second tax cut was needed because it was clear that the first one did not work. Economic history tells us the second did not work either. As a result of all his tax cutting with no cutting in spending, in 2003 President Bush set a record for the biggest single yearly dollar increase in debt in the nation’s history. He did it again in 2004, increasing the debt more than half a trillion dollars. Since 2003 total borrowing has typically been around $500,000,000,000 per year. Even Mr. Reagan never increased the debt that much in a single year; Mr. Reagan’s biggest increase was only 282 billion, half of GWB’s outrageous spending. As a result of the fact that the debt was already pretty high when Bush II entered office, his annual rate of increase is only averaging 7% per year so far. In 2006 he was holding press conferences bragging that the debt was increasing at the rate of only 300 billion dollars a year, yet in reality it was twice that. Again the facts do not match Neo-Con rhetoric.
Of course 7% growth is a misleading figure as it does not make clear that by so drastically increasing the total debt, the amount of the annual US budget dedicated to service the debt has grown to almost 10%. Thanks to misguided Neo-Con ideological thinking, over a tenth of our budget does nothing to contribute to the growth or health of the nation. If interest rates go up our country will be in real trouble.
It does not matter if you call it a war or an occupation, supporting Iraq is expensive. It just boggles the imagination of any fiscally responsible person that the Republican Congress and President have repeatedly cut taxes during this overly aggressive and very expensive era for our military. The nation is borrowing money so that we can spend more on our military than all the other nations on Earth combined, and still the Neo-Cons are calling for even more tax cuts and even more military spending.
Mr. Bush is constantly claiming that the economy is great! What he leaves out is that he is buying that simulated good economy with his borrowed dollars; it is a false economy that is starting to crash. Recent bank and insurance company failures are proving that this federal borrowing can not go on forever, but what is the answer we are being given to this problem – borrow more money to cover the bad debt already out there! If a Democrat was suggesting this course of action you can bet a bevy of Republicans would be screaming in unison that Congress is Socializing Wall Street.
Oh, don't forget to read the "Trickle Down Theory Myth"
Could you provide the quote where Obama said to go out and spend money?
I would be very disappointed if that were true. It sounds almost as ignorant as Bush's rally call after 9/11 to go shopping.
Perhaps it's just the primitive economy and, no matter how enlightened a president is, the economy monster demands to be constantly fed.
And stop calling people Dumbocrats. Based on a consistent reading of your posts, I can assure you MANY who vote for progressive policies are far more intelligent than you.
EDIT: Oh, I get it. Kootr thinks that because Obama's spending money to get out of this financial crisis he is indirectly implying that we all should spend money at all. I suspect he didn't actually say the words Kootr is attributing to him.
Could you provide the quote where Obama said to go out and spend money?
I would be very disappointed if that were true. It sounds almost as ignorant as Bush's rally call after 9/11 to go shopping.
Perhaps it's just the primitive economy and, no matter how enlightened a president is, the economy monster demands to be constantly fed.
And stop calling people Dumbocrats. Based on a consistent reading of your posts, I can assure you MANY who vote for progressive policies are far more intelligent than you.
EDIT: Oh, I get it. Kootr thinks that because Obama's spending money to get out of this financial crisis he is indirectly implying that we all should spend money at all. I suspect he didn't actually say the words Kootr is attributing to him.
Ya, I agree (good post, 'specially the last paragraph))........ I asked twice now for an example of Obama saying we should go out and spend money and no one has provided any answer.
Ya, I agree (good post, 'specially the last paragraph))........ I asked twice now for an example of Obama saying we should go out and spend money and no one has provided any answer.
Oh please! Isn't it a given that Obama needs for Americans to buy, buy, buy if he expects the economy to turn around? Can you explain how Obama expects to turn the economy around if people don't buy, buy, buy? Do you think the economy is going to fix itself without people spending? Do you think Obama was hoping the stimulus checks would be saved or used to pay down debt...or spent, the latter of which he hoped would "stimulate" the economy? Give me a break...you are 180 degrees off the mark in your comprehension of economics, but also about Obama. You get a big red F!
Good luck with it, but I don't think Michigan will have a favorable real estate market for a long, long....LONG time.
Only if your trying to flip the property.
While I downsized my primary residence a couple of years ago, I bought the year round house next to my summer cottage, and now trying to buy the farm on the other side of the river plus the cottage on the other side of me.
If more would have bought what they really could afford and not assumed that the values would always go up, many would not be in the spot they are in.
Are you Obama supporters following Obama's direction to spend money? Are you buying stuff to improve the economy and reduce unemployment?
Are you buying homes, cars, furniture, appliances, artwork, computers, televisions, carpet, jewelry, clothes, etc., etc., etc.?
If not, why aren't you?
Quote:
Originally Posted by Kootr
Oh please! Isn't it a given that Obama needs for Americans to buy, buy, buy if he expects the economy to turn around? Can you explain how Obama expects to turn the economy around if people don't buy, buy, buy? Do you think the economy is going to fix itself without people spending? Do you think Obama was hoping the stimulus checks would be saved or used to pay down debt...or spent, the latter of which he hoped would "stimulate" the economy? Give me a break...you are 180 degrees off the mark in your comprehension of economics, but also about Obama. You get a big red F!
No, I didn't get any "direction' from Obama to spend money....it's not a "given" that he said that unless he said that.
You get an "F" in logic and truth.
And most of the middle class will not spend money until they have jobs and Obama understands that. If someone has the money to spend fine...but one of the problems that created this mess were those who didn't have money but spent it anyway...notice I said ONE of the problems....there were many reasons for the economy tanking but the bush administration was the biggest.
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