What Is The Republican Economic Recovery Plan? (John Kerry, generations, health care)
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Q: What is/was the Republican economic recovery plan?
A: Start a war and gorge themselves on the U.S. Treasury while keeping the sheep scared, run economy into ground, and ask for 700 billion dollar taxpayer bailout. The Republicans successfully implemented it already
The problem is that you and others here aren't interested in what really happened or the facts behind what happened. You seem to just want to repeat the talking points and sound bites.
If you look at what took place over the last 15 years, including the Clinton years, and how the Democrats in Congress, including Barney Frank and Chris Dodd, resisted and refused to provide oversight, you would have a more realistic picture. I'm not trying to say that Republicans are blameless or were innocent bystanders, but that IS what I hear from Democrat supporters about the Democrats.
Let's face it that Democrats wanted the financial community to lend money to people who shouldn't have been approved for loans, and they pushed an agenda of low income home ownership. To be fair, GWB also pushed his "ownership society" and went along for the ride.
So, the "problem" is that Democrats are to blame for pushing for those "unqualified" to get home loans (read: Black people) and that is why we are in the economic mess we are in, because of the poorest among us?
An ideal economic recovery plan would have been not to screw it up in the first place, which socialist Republicans are just as guilty of as socialist Democrats.
And skoro here probably thinks that money falls from the sky - completely detached from reality. Stop blaming people for not giving you a free ride
But I want my free ride.
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and read an Economics 101 book! Wealth is created.
I see. By financial geniuses like the boys on Wall Street over the past few years.
Thank you, professor.
You know...I read your posts in various topics and your personal attacks on people who don't agree with your rather...um...unique views.
It is hardly a personal attack to note that one has fallen for a propaganda ploy when one has fallen for a propaganda ploy. In addition to DiLorenzo's BS, I'm sure you were impressed by a certain YouTube video that professes to show various Democrats trying to shield Fannie Mae from regulation. The actual purpose of those hearings was to examine whether Fannie Mae had properly conformed to generally accepted accounting principles in preparing its financial reports. The hearings had nothing whatsoever to do with Fannie Mae's operations, but the producers of that video deliberately edit and splice the tape to conceal that purpose, then use their interposed comments to help a viewer conclude that those hearings were sonething that they were not. Another trip down the right-wing rabbit hole for you.
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Originally Posted by neil0311
In some cases you have invented your own reality and substituted some alternate universe for reality. In your blind hate for anything Bush and anything Republican, you are intellectually dishonest.
Would you like to name any of those cases, or is it your forte merely to make amorphous and generalized claims and let it go at that? Go ahead...put some meat on these bones if you can.
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Originally Posted by neil0311
It's you who needs to get out of the marxist shell and discover that no one party or group is responsible for the mess we're in, and the Democrats have a good bit of responsibility for the circumstances we're in at the moment. Truth and reality are out there...find them.
Ooooh, the marxist card! Very impressive! Unfortunately, I am professionally a part of this reality that you suggest I go discover, and your role is what again? Trying to sell Republican failures as having been just part of a group effort isn't going to fly. Dumb assumptions led to bad policy that was poorly implemented, and when push comes to shove, Republicans were behind virtually all of it. Those are the facts that you need to discover...
Originally Posted by saganista Far from being the facts, this is a pure horse-crap analysis based on an utter fraud perpetrated by Thomas DiLorezo of the Mises Institute. It is a manufactured propaganda ploy that attempts to shift blame for this mess off of Bush and idiotic faith in laissez-faire principles and onto Democrats, Clinton if at all possible. And you've fallen for it.
The facts are that the loans to low- and moderate-income communities that were required by Clinton under CRA by CRA-covered banks and S&L's have performed better than industry averages. The facts are that CRA lending declined markedly in 2001 because Bush refused to enforce the law. The facts are that the loans which ultimately failed and led to the current situation were predominantly written in 2003-06 by unregulated private brokers and barely regulated bank affiliates with high-cost terms that were increasingly bundled not through Fannie Mae, but through the major investment banks whose large profits resulting from the sale of derivatives propped up a demand for new original paper that didn't particularly care about conformance to underwriting standards. The paper would be sold, the profits would be made, and the risk would be passed off into the secondary markets. And despite many published warnings over what was going on, the Bushie "regulators" everywhere just sat back and watched it all happen. When the wheels began to come off the cart, they applied band-aids, claiming famously but stupidly, that the fundamentals were strong. They waited a year to do anything serious...a year in which ability to contain and control the problems only worsened.
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Originally Posted by neil0311
You know...I read your posts in various topics and your personal attacks on people who don't agree with your rather...um...unique views. In some cases you have invented your own reality and substituted some alternate universe for reality. In your blind hate for anything Bush and anything Republican, you are intellectually dishonest.
It's you who needs to get out of the marxist shell and discover that no one party or group is responsible for the mess we're in, and the Democrats have a good bit of responsibility for the circumstances we're in at the moment. Truth and reality are out there...find them.
I would really love to hear your analysis of saganista's entire post, neil, instead of backswatting at a truncated portion of it.
Yes. The Golmert (sp?) Plan was the Republican plan to repair the economy. It basically involved using the last bit of the bailout money to sponsor a few months of tax holiday. Basically with the absence of federal taxes of all kinds, you have people getting more of their income, businesses investing more, and overall the economy would repair itself naturally. The fundamental principle behind it was letting our own system repair itself, just like it always does.
And while the bill was introduced to several congressmen, Democrat and Republican alike, it was shot down because the Democrats claimed it didn't benefit the unemployed (obviously). However, they did not realize that it would in fact help the unemployed and those on social security or welfare because it would not be taxed.
I think the plan would have worked well, unfortuneatly the last of the bailout money was burned up before it even had a chance, making it null.
$350B of the bailout money has not been spent.
When you have a tax holiday and incomes are increased, many people will treat this as a permanent condition and use the opportunity to go further into debt. You can witness this in the IMMEDIATE increase in sales of SUVs in the past couple of months when gasoline prices dropped. Apparently the thinking is that they will never rise again. When prices do go up again, or the tax that was halted temporarily is reimposed, we will find ourselves with many new faces in trouble, possibly worse than now.
Already the detractors are lining up to whine about the enormous sums of money that may be necessary to break the economic logjam created during the administration of Mr. Obama's predecessor.
I have not, however, heard of a republican counterproposal that would cost any less.
Obama is not afraid of ideas. I am certain he is open to any idea from any quarter that might work to toss it into the discussion barrel and give it a fair hearing.
The question is, do the republicans have a plan that they are willing to share with us, or is their entire focus going to be obstructing whatever President Obama puts forth?
Maybe their method doesn't require a proposal but rather allows the market and economy to work it's way out independent of government intervention.
http://www.gop.com/2008platform/economy.htm (broken link)
Economic freedom expands the prosperity pie; government can only divide it up. That is why Republicans advocate lower taxes, reasonable regulation, and smaller, smarter government. That agenda translates to more opportunity for more people. It represents the economics of inclusion, the path by which hopes become achievements. It is the way we will reach our goal of enabling everyone to have a chance to own, invest, and build.
So why are looking for something? Read the entire link and you will have a sense of where we would be in a Republican victory transition.
When you have a tax holiday and incomes are increased, many people will treat this as a permanent condition and use the opportunity to go further into debt. You can witness this in the IMMEDIATE increase in sales of SUVs in the past couple of months when gasoline prices dropped. Apparently the thinking is that they will never rise again. When prices do go up again, or the tax that was halted temporarily is reimposed, we will find ourselves with many new faces in trouble, possibly worse than now.
What do we do to prevent this from happening?
Hmm... I think you stumbled upon an interesting point here. It isn't necessarily that the government or current administration caused the bulk of the current situation; Instead, it is irresponsible consumerism.
As far as preventing this sort of thing; You have to ask yourself: How can we educate consumers on making intelligent, responsible decisions? That, as opposed to the Democrats vs. Republican BS is where the answer lies.
Either created by republicans, democrats or Bush, the economy problems are serious. Obama will need to deal with it one way or another. This time the republicans will have the privilege of watching others struggle with it. What really counts is what the elected president will do. Obama's reported plan to spend/ invest $1 trillion (which he doesn't have) on top of all other debts is worrisome. For the sake of the US lets hope he can pull this one out and the economy will recover. If not, we all (republicans and democrats alike) are in deep s**t.
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