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People who are honest and have done any research AT ALL on this topic, know that this began under Carter, was strengthened under Clinton, and then Democrats rejected every attempt a Republican made to do anything about it.
The WORST offender in my viewpoint was Barney Frank when he scoffed about there not being a housing bubble and that Fanny and Freddie were on solid ground.
Then there was Bush who publicly encouraged those who were in danger of defaulting on their mortgage to turn to Fanny and Freddie!
It was the bank industry that tanked the economy. Not the Repubs or Dems.
It was the banking industry deregulated by the GOP congress that led to the Great Recession.
If Clinton would have vetoed the Gramm-Leach-Bliley Act we'd all be much better off today. But instead, he signed that piece of Republican legislation and Wall St proceeded to run the economy off the cliff.
The DNC blew the Republican deceptive marketing campaign to bits. Republicans failed miserably under Bush by causing the economy to go into FREE FALL. Neanderthal economic policies are no more effective than Neanderthal diplomacy we found out under Bush.
Enter President Obama with the POTENTIAL to right the great Republican wrong, and suddenly the country was cursed with the Congress from Hell, Neanderthal Republican obstructionists. McConnell and Boehner vowed with all their heart to "make President Obama a one-term President."
I'll repeat that so you understand. Maggot McConnell and Crybaby Boehner vowed to do NOTHING to help the economy. 4 years we have been putting up with this Republican crap and it's time for you hapless Pubs to get the hell out of the way of progress. You have done enough damage with your historically petty partisan crap.
Bill Clinton kicked your arse at the DNC and Dems are right...and don't you forget it either.
Looks like this thread is collecting fanatic liberal lies like honey collects flies.
Reagan turned the economy around (from the disaterous Carter years, the ones that laid the seeds for our present economic mess) by cutting tax rates. He believed that cutting tax rates wold cause so much economic activity, that not only would people become more prosperous, but revenues to the government would INCREASE as a result of there being more activity to tax.
And he was proved right, almost immediately. In every year of his Presidency after the first, government revenues went UP even though tax rates were lower.
Interest rates also came down, inflation came down, and unemployment came down, all as a direct result of his policies... and stayed that way, until the next President was forced to raise tax rates by his Democrat Congress, after swearing "Read my lips. No new taxes".
The Democrats in Reagan's Congress drew up budgets with huge amounts of deficit spending, running up the debt like crazy, and threatened to cancel Reagan's buildup of the military unless he signed them, He caved and signed, and the deficit exploded.
It's hilarious, even today, to hear Democrats try to tell us that the deficit spending by Congressional Democrats in those days, "turned the economy around" and was the reason prosperity returned. If that was true, we'd be ten times as prosperous now, after four consecutive TRILLION DOLLAR DEFICITS by Barack Obama and the Congressional Democrats of today!
again.. fact-check is your friend
numbers don't lie.. but your fox news analyst style spin on the facts does sound convincing...
The republican party needs to own it's hypocrisy over the past 30 years, disagree with where they've taken the country, soul search, and come at the general population with a REAL plan with REAL long term sustainable prosperity. I would support republicans more if they weren't so far right (ends justify the means), weren't pandering to crazy christian nut jobs, and ACTUALLY did care about reducing the deficit...they champion for it every election since reagan, but have been the biggest spenders.. what the hell is that all about? the last time we had a balanced budget was under clinton.. the one democrat! so don't come at us with that tax cuts for the rich brought us prosperity.. because it didn't..we're now faced with the 15trillion dollar credit card bill for all that "prosperity" they created... we lived on a credit card for 30 years
Clinton spoke directly about what the GOP will say and won't do. They have done it repeatedly.
Again, under Obama we have added thousands of private sector jobs. Under Bush we lost thousand, but he covered all that by ramping up government hiring. Paid for, of course, with tax cuts. And what revenue we did receive was from the biggest orgy of predatory lending and financial chicanery we have seen ever. Wall Street's sleaze basically tanked the whole world economy.
TRANSLATION: I've checked, and found out that the poster's statements are in fact correct. But I hate them anyway, so I'll make some vague statement that sounds like there might be room for doubt, and pretend that I believe that instead, and hope against hope that someone will believe me.
(Amazing how frequently Democrats do this kind of deflection. Comes with their habitually not dealing with the truth, I guess)
TRANSLATION: I've checked, and found out that the poster's statements are in fact correct. But I hate them anyway, so I'll make some vague statement that sounds like there might be room for doubt, and pretend that I believe that instead, and hope against hope that someone will believe me.
(Amazing how frequently Democrats do this kind of deflection. Comes with their habitually not dealing with the truth, I guess)
post your checked fact source please... simple as that
TRANSLATION: I've checked, and found out that the poster's statements are in fact correct. But I hate them anyway, so I'll make some vague statement that sounds like there might be room for doubt, and pretend that I believe that instead, and hope against hope that someone will believe me.
(Amazing how frequently Democrats do this kind of deflection. Comes with their habitually not dealing with the truth, I guess)
post your checked fact source please... simple as that
So, you have no actual reason for thinking what I said about the results of Reagan's policies, is false?
That's what I expected. Leftist fanatics often wave their hands and shout "Lies!" while having no actual contrary data or any reasons to believe so, in hopes that they can divert the subject to something else.
Back to the subject:
The next time you hear the usual Democrat extremists on TV insisting that "We don't want to go back to the Republican policies that got us here", remember that THEY don't have anything except similar smears and namecalling, but distressingly few facts.
Because, in fact, it was DEMOCRAT policies that cause the present financial crisis. Policies that began a generation ago, and kept building and building more risky debt like a ticking time bomb that finally exploded in 2008, as documented in the OP here and its links.
If there's anything we don't want to go back to this coming election, it's those Democrat policies that caused the recession that we still haven't recovered from.
Look. Anyone who bought a house in 1994 probably had it pretty well paid off by 2008.
Sure. Right. Both institutions wrote 15 year mortgages? I rather suspect those mortgages were of the standard 20 ~ 30 year type.
I wonder just how many of the mortgages were EVER paid off, much less early as you purport.
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Sour grapes?
