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The policies which failed to stop the predatory lending practices in 2003 when the bubble started forming. As opposed to stopping it, they threw more fuel in the fire.
Last admin brought the deficits down, and this admit it bringing them up.
Few examples of GOP economic policies which caused the collapse
Bush's mission to get 5.5 million low income minorities mortgages when they would not otherwise qualify for them.
- Mobilizing the Private Sector: America's Homeownership Challenge
- Establish a national goal of at least 5.5 million new minority homeowners before the end of the decade.
- Challenge the private sector real estate and mortgage finance industries to dramatically increase their efforts to reduce the barriers to homeownership faced by minority families and to work with the nonprofit sector in a concerted effort to achieve this goal through national and local partnerships.
- Convene a White House Conference on Increasing Minority Homeownership, to highlight the homeownership barriers faced by minorities and develop proposed solutions.
- A substantial increase of at least $440 billion in the financial commitment made by the government-sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market;
- Twenty-five different local initiatives to be undertaken across the nation, geared toward eliminating the specific homeownership barriers faced by minority families in those communities;
- A commitment to raise $750 million in below-market-rate investments by 2007, which will work in collaboration with local homeownership initiatives and be targeted to heavily minority program areas;
- Pursuing strategic partnerships in 20 top housing markets between homebuilders, lenders, local officials, and community leaders to develop approaches that address the local challenges to building homes for minority families living in urban centers;
- Establishing of faith-based housing partnerships between the participants and at least 100 churches, mosques, synagogues, and other faith-based institutions;
- Aggressively developing new mortgage products so that conventional market alternatives are available to combat the predatory loan products that are disproportionately targeted to minorities;
- Creating new mortgage products to meet the unique needs of recent immigrants;
- Dramatically expanding financial education efforts for minorities, providing financial counseling to at least 380,000 minority families, and taking measures at the local level to reduce predatory lending; and
- Establishing multilingual, consumer-oriented internet Web sites designed to help minorities overcome barriers to homeownership, including creation of a central data bank of affordable housing programs made available to real estate agents when working with clients.
Easing the restrictions and qualifications for home loans began during the Clinton Administration.
Some debt is useful but taking on additional debt in a hot economy is nonsensical.
It makes perfect sense if you want to eliminate Medicare and Social Security, crushing the support system for our elderly. Remember, huge numbers of people vote for puppets who are funded by billionaires who see it as their life mission to eliminate Medicare, SS and SSDI.
IMO not nonsensical if it benefits the people. (middle class)
For instance infrastructure, jobs, wages, HC.
Not nonsensical with regional or national emergencies. For instance massive hurricane or fire damage.
Not nonsensical if a matter of national security or defense.
All assuming we have the necessary resources and manpower to put these new moneys to use.
And inflation not too high.
Well that depends on the particulars and giving corporations a large tax cut in this economy makes little sense. There was a benefit to the middle class and there will always be an upside to a cut but do deficits matter. If they don’t why not throw in another trillion for infrastructure.
A defense budget increase for a military that already exceeds the next 10 countries combined is nonsensical.
Other than your figures being off did you know that congress is responsible for the budget not the president.
so if that is the case (I actually agree) then why would all these leftists say Obama lowered the deficit..and then sat trump is raising the deficit...??
too many of us (yes I said us) want to give too much credit/blame to the POTUS who is just a figure head, not a king
such as gas prices, deficit, stockmarket (dow reaches 20k thank you Obama, or dow reaches 25k thank you trump), GDP, healthcare (calling it Obamacare) etc
people seem to think that the President is the one who wrote the legislation, signed it, and then implemented it...nope he/she (no matter what party) is just a figurehead
Last edited by workingclasshero; 08-16-2018 at 11:03 AM..
Well that depends on the particulars and giving corporations a large tax cut in this economy makes little sense. There was a benefit to the middle class and there will always be an upside to a cut but do deficits matter. If they don’t why not throw in another trillion for infrastructure.
A defense budget increase for a military that already exceeds the next 10 countries combined is nonsensical.
I disagree about the defense budget,having spent nearly 30 years in the military and now working for the Department of the Army, I see the undertraining and, pisspoor maintenance due to lack of funding.. yes in raw dollars we outspend..but as a percentage of GDP, we are right in line with everyone else
Well that depends on the particulars and giving corporations a large tax cut in this economy makes little sense. There was a benefit to the middle class and there will always be an upside to a cut but do deficits matter. If they don’t why not throw in another trillion for infrastructure.
A defense budget increase for a military that already exceeds the next 10 countries combined is nonsensical.
If I were king I would throw in another $T for infrastructure.
its too bad that Obama did NOTHING for infrastructure...
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