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Are you seriously trying to pin off the worst year of the Bush crash (2009) on Obama? Get real. Bush handed Obama a bag of **** to deal with when he left the white house.
Obama just finished his 5th consecutive year of more than 2 million jobs being added to the economy annually. His private sector job growth is even better because 2010 saw a loss of 200,000 government jobs and 2011 saw a loss of 400,000 government jobs.
George Bush saw private sector job growth exceed 2 million for only ONE year, which was 2005. Obama has had private sector job growth exceed 2 million for five consecutive years. The only other president to pull this off was Clinton.
You can take nit picky glances of the labor force all you want. I just find it hilarious that you conservatives need to dig that hard to make your spins.
This Bush Great Recession is the worst economy in three generations.
It's been a tough climb to recovery. Especially with the GOP congress trying their best to push the economy back into recession.
Enjoy the fact that the president has spared you from the Bush Depression.
the recession happened because of liberal policies put in place before bush...bush didnt help, but he got hammered by liberal policies such as free money mortgages starting in 1995
the republicans tried to help but where blocked everytime by dirty harry ried and the party of no, liberals in the senate
the recession happened because of liberal policies put in place before bush...bush didnt help, but he got hammered by liberal policies such as free money mortgages starting in 1995
the republicans tried to help but where blocked everytime by dirty harry ried and the party of no, liberals in the senate
Tax cuts and trickle-down were pure GOP baloney. The Great Recession is its crowning glory.
what you see here is another liberal not willing to OWN UP TO their mess
globalist liberal policies going back to the early 90's are what caused the recession
the 'great recession' was due to liberal policies of offshoring jobs and easymoney housing
let this INFORM you, 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 OUTSOURCING throuth NAFTA(and the other 2 dozen 'freetrade agreements)----------------originally pushed by Brzezenski and his liberal puppet carter,,moved along by reagan's VP bush1----negotiated by another brzezenski puppet bush1--- passed in 1993 by the democrat controlled congress, pushed by clinton, signed by clinton-inceased with CAFTA by bush2--the consequence ...... 60+ million HIGH PAYING jobs have been lost, 2 trillion worth of debt from the lost wages.(and obama ahs increased it too, not only as Senateor Obama with OFTA, but also as potus obama..............hmmm)
1995 clinton (through his chief of HUD (Henry Cisneros and later his second chief andrew coumo)) eased the rules on obtaining mortgages allowing more 'exotic' mortgages and 'no-doc/low doc' 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 meltdown: Clinton's National Homeownership Strategy
those are the two biggest causes of the great recession
then add these to the perfect storm:
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.) causing MONOPOLIES, which can RAISE PRICES
1998 clinton does not allow drilling for OUR OWN OIL..the liberals say 'it will take ten years before we seee the oil'...guess what its been ten and more years
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)
2000/1 clinton pushes to get china into the world bank
2002 bush and medicare part d...., bush giving the liberals more big government
2003/4/5 republicans try to reign in fanny and freddie...the liberal opposition leaders (barney frank and cris Dodd) say "there is nothing wrong with fanny/Freddie...its a witch hunt"........boy does barney have egg on his face now
07/09 liberals raise the min wage...adding to the perfect storm..the final straw of the perfect liberal storm
it aint the gop.....its the liberals (and liberals(ie progressives) can be from both the democrat party and the rino party) that have cost us
Status:
"everybody getting reported now.."
(set 22 days ago)
Location: Pine Grove,AL
29,552 posts, read 16,539,320 times
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Quote:
Originally Posted by workingclasshero
the recession happened because of liberal policies put in place before bush...bush didnt help, but he got hammered by liberal policies such as free money mortgages starting in 1995
the republicans tried to help but where blocked everytime by dirty harry ried and the party of no, liberals in the senate
Republicans controlled both the House and Senate in 1995; 53 Senators and 230 Representatives. Try again..
Republicans controlled both the House and Senate in 1995; 53 Senators and 230 Representatives. Try again..
and henry cisnero's (HUD Chief ) appointed by bill clinton changing the rules has ZERO to do with who is in congress
actually congress had no say in this
HUD is an executive cabinate level posting
this was all POTUS directed from 1995
Clinton had a NICE idea:..... help the poor and the minority to own homes
clinton had his directors of HUD :1) henry cisneros..then 2) Andrew Cuomo readjust the QUALITY STANDARDS, of the loads...fannie,freddie,ginnie(all GSE's) are the QUALIFIERS of ALL LOANS
by reducing the standard...people NO LONGER had to CONFORM to what was considered """too high of standards""" for the poor and the minority population....instaed of 20% down, having you payment less than 30% of your gross income, verifying income, credit history...everyone had the AVAILABILITY of getting a loan..even if they would not have ualified under the original rules
who is to blame...the government for mandating...the lenders for stupidly following what the government told them...the realtors, who wanted even bigger commisions..the sellers who whated to get thiers..and the buyers, for not knowing what they could afford
and yes a majority of the blame does go to the consumer and the seller too
fact the liberals changed the rules to MANIPULATE that more people bought home.. making it EASIER to get homes...causing housing to skyrocket
sellers wanted TOP dollar..even if it was UNREASONABLE
buyers had EASY CREDIT and LOWINTEREST LOANS with NO DOCUMANTATION to back it up...ie no- doc or low doc loans...to whom...the poor and self employed
what is the NORMAL yearly inflation rates for home...about 5% a year, so that a house will double in 20 years...what we got..houses tripled in less than 10 years
it was the government and the stupid buyers, with the greed of the sellers and their agents
anyone going to buy a home, SHOULD know what they can afford...ie if you make 50k..the TOP house would be 200k...not a 700k house
anyone buying a house SHOULD know that a mortgage payment is not just the principle and interest...but ALSO the HOI(home owners insurance) and the PROPERTY TAXES
anyone buying a house (or anything else on credit) SHOULD KNOW that an ADJUSTABLE RATE ..adjusts...and if the CONTRACT says 4% for the first 18 months then it will set to 6%+prime...dud its going to be ATLEAST 9% or more
anyone going for a mortgage SHOULD KNOW that the house is the collateral
when I bought my house I was OFFERED a 80/20, a 3 yr ARM,, and a few others to include an interest only...I KNEW what I wanted...a 20 or 30 yr FIXED with no pre-payment penalty
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a good consumer goes in educated
as a local clothing company once said..."an educated consumer is our best customer"
I'm sure you have that cap due to conservative politicians. You can darn sure bet it wasn't Democrats who capped property taxes.
You're sure of that huh? California is a largely democratic state and passed prop 13 which capped property tax increases to 1% per year by a 65 to 35 margin.
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