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Yes, in the USA, the so-called poor live better. They have more food, free college, free health care, better clothes. Who would want to work hard in this country and just be stuck paying all the bills?
NOPE , obama who is continuing the SAME POLICIES was not president yet
BUT,,
well let me INFORM you but these problems stem from: 1993, 1995, and 1999 and you can thank the liberals for it, and most of it goes back to the clinton era. why because ECONOMICS run in 10(+/-4) year CYCLES and what we are facing NOW is in DIRECT RELATION to what happened back in the 90's
1993 NAFTA---- passed by the democrat controlled congress, pushed by clinton, signed by clinton---the consequence ...... 60+ million HIGH PAYING jobs have been lost, 2 trillion worth of debt from the lost wages.
1995 clinton (through his chief of HUD (Henry Cisneros and also through his second chief of HUS Andrew coumo)) eased the rules on obtaining mortgages allowing more 'exotic' mortgages and 'no-dov' mortgages-----the consequence ......housing SKYROCKETED causing low inventories causing a 'not normal' increase in home prices, sellers got greedy, buyers got even greedier (looking to PROFIT in a skyrocketing market by flipping) and bought THINKING that prices would still increase and their ADJUSTABLE mortgage would pay it self off in MINIMUMAL years...EVEN THOUGH THESE INCREASES IN HOME VALUES WERE TOTALLY UNHEARD OF, AND MORTGAGE RATES WERE AT 40 YEAR LOWS( what did they think an adjustable mortgage gotten at 40 year lows would do in the term(3 months-3years) when it adjusted...of course it would go up, their CONTRACT even said after the term it would be 6% PLUS PRIME)))
For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership."
The above is the start of the mortgage meltdon: Clinton's National Homeownership Strategy...
1996 clinton signed The Telecommunications Act of 1996 (The Act was claimed to foster competition. Instead, it allowed industry consolidation whose actions reduced the number of major media companies from around 30 in 1993 to 10 in 1996, and reducing the 10 in 1996 to 6 in 2005.)
1999 Clinton DEREGULATES the banking industry
2000 clinton signs the China trade bill
2000 clinton signs the Commodity Futures Modernization Act of 2000..(which paves the way for ENRON)
2001 January...clinton helps get China into the WTO
Well, I was being sarcastic - isn't the (TEA) party line that everything bad started on 1/20/2009? I, of course know better, but, just couldn't resist a little jab at what must be a reality check for some.
However, since you mentioned it, you do know that here was record job growth under Clinton. Why did you leave out that little detail?
And you completely skipped over this sunny news pre and post Clinton:
FOXNews.com - Job Growth Under Bush Much Slower Than Under Clinton and Reagan - Politics | Republican Party | Democratic Party | Political Spectrum (http://www.foxnews.com/story/0,2933,242424,00.html - broken link)
Hale "Bonddad" Stewart: Bush's Legacy Stagnant Pay and the Lowest Rate of Job Creation in the Last 40 Years (http://www.huffingtonpost.com/hale-stewart/bushs-legacy-stagnant-pay_b_57969.html - broken link)
These types of changes do not happen overnight.
All it takes is one bill (NAFTA for example) and over time more and more jump on the gravy train of increased profits via cheaper labor, cheaper parts. Then more and more jump in over time.
40 years later and here we are..a nation of debt ridden consumers who can't afford to buy any more. Yet we have to to keep the economy running.
How do you solve that..70% of the GDP is based on "buying" stuff, not "making" stuff.
Cut off the debt machine. Tank the dollar. Hyper inflation? If we shift the tax burden from income to the interest on debt then the people that borrow pay and the people that don't don't. And if we ask our trading partners to pay their works more then we will have a better world. Not tariffs but pay increase to equalize trade. Win Win for everyone.
The point is: now with government backed everything-- government backed mortgages; government backed student loans and government backed medical insurance with Medicare and hopefully not with Obamacare, the prices for all these things have gone up. Of course what is really is is TAXPAYER backed because where does the government get its money for these programs? From the taxpayers. Who controls how the money is collected? Government officials --who of course skim a HUGE amount off the top for themselves.
This is even documented in the various Comprehensive Annual Financial Reports (check out www.cafr1.com) that come out every June or July for every city; county; state and the federal document but few know about this report. This is the REAL set of books in addition to the annual budget report which they use to justify more taxation etc etc every year. According to the Comprehensive Annual Financial Report, if the truth be told, there is PLENTY of money in the coffers. But that is set aside for the Govt elites. In the meantime they just dream up more expensive programs that they benefit from and we pay for...this new Obamacare and Cap and Trade to absolutely BLEED US DRY of our money until there is no more middle class.
If you want to save the middle class we have to STOP EXPENSIVE GOVERNMENT PROGRAMS. GET RID OF THEM. The private sector can provide those needs and do a better job of it. Let the taxpayers keep their hard earned money. Governments were supposed to have a very small role in our lives not control every aspect of it like they are trying to do now AND MAKE US PAY FOR IT.
President Woodrow Wilson after going along with the establishment of the Federal Reserve and then the Internal Revenue Service later realized it was a terrible mistake and said so. He was RIGHT!
Now with govt. backed mortgages? The FHA was established in 1934! Medicare-1965. Guaranteed student loans-1965. VA student assistance-1944, also VA loans for homes started the same year.
Now with govt. backed mortgages? The FHA was established in 1934! Medicare-1965. Guaranteed student loans-1965. VA student assistance-1944, also VA loans for homes started the same year.
Yes, and virtually all of those programs are credited with creating a sound middle-class in this country post WWII. Imagine.
Inside Out Documentaries : The Vanishing Middle Class: WBUR Boston (http://www.insideout.org/documentaries/middleclass/ptII.asp - broken link)
And you completely skipped over this sunny news pre and post Clinton:
no not really, I was pointing out the cause of THIS recession
If you want the whole answer of why we are screwed, it goes was back
wilson, fdr, jkf, then the more recient
LBJ
Nixon...took us off the gold standard
carter
reagan
bush1
clintobn
bush2
obama...bush3
carter, bush1,clinton, bush2, and obama all have a few things in common...Brzezinski, CFR, TLC, bilderberg
Brzezinski was/is the puppet master of all of them and started the 'freetrade' stuff in the 70's, got it push with bush1, made law, by clinton and expanded, expanded more under bush2, and obama is expanding it more OFTA is obamas baby
if health insurance passes (i hope it does not) an avalanche of 55 plus people will leave employment and the brain and experience drain will be enormous. there will be a huge push to import foreign smart labor. w/o a labor movement its guna happen and alota recent grads will suffer. they should joining unions nad demonstating in the streets today just like france so that their sheepskins has some value.
they must fight for their future jobs, and do so effectively. its not happening. the wakeup is slow.
Well, according to the CBO, 8 million currently insured are going to lose their health care under obamacare.
What incentive do employers have to offer HC insurance, in which they pick up 70-80% of the cost, when it is less expensive to NOT offer insurance and pay the fine per employee?
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