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WASHINGTON (CNN) -- Leading Republicans warned Sunday that the Obama administration's $800 billion-plus economic stimulus effort will lead to what one called a "financial disaster."
"Everybody on the street in America understands that," said Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee. "This is not the right road to go. We'll pay dearly."
We ARE in a disaster and some Americans ARE paying dearly....what do repubs call a disaster..when THEY lose money, THEY lose their job, THEY lose their house(s) ????????????
I didn't complain about Bush's spending - but then I wasn't paying as much attention until recently. It seems like only in the last few months have I realized how much of a financial hole we've gotten into during the Bush years.
If Bush would have really tried to do something about the subprime lending he would have been labeled a racist (he was anyways). He went along with the democrats on wanting everyone to own a home and that's one reason why we are in this mess.
The distinguished Republican Senator (and, apparently, it "doesn't count" if he's just cited as a plain old garden-variety Senator--he has to be identified as a Republican) is opposed to the stimulus plan. But he offers no alternatives, only whining that President Obama needs to do something different. It seems to me that the President has taken some kind of action, which is preferable to whining and finger pointing. Perhaps in their next election, the good citizens in the distinguished Republican Senator's constituency will consider electing a representative who does more than stand on the sidelines and complain.
I'm still in favor of addressing the root of the problem. Mortgage payments that are too high. Reduce mortgages to what they are worth now so people can make those payments (take them to a pre-bubble value) and make the banks suffer the reprecussions for their mistakes (making loans too easily available for houses people couldn't afford and the banks should have known better as well as those that applied for loans).
We would get fewer foreclosures, people would have more money for spending (there's some stimulus for you) and because people can make their payments their loans would not be as risky and it may free up credit. House values would decrease less because of fewer foreclosures or abandoned houses that are waiting to be filled by vagrants or gangs and those that can make their payments but would see their house value decrease would get a cheaper mortgage and their neighborhoods would retain their stability.
If Bush would have really tried to do something about the subprime lending he would have been labeled a racist (he was anyways). He went along with the democrats on wanting everyone to own a home and that's one reason why we are in this mess.
I was speaking of his administration's 5 trillion dollar bill (plus or minus a few billion), not the housing/credit crisis.
Sometimes we must learn from history to not keep making the mistakes of the past and that is exactly what we are getting ready to do. This bill is not going to address the real problems its going to create short term work that once the job is done people are going to be without a job again.
We need to take our time and try and get something long term
It is supposed to be temporary. Obama describes it as a 'jump-start' for the economy. It is not supposed to be long term government expansion.
It is supposed to be temporary. Obama describes it as a 'jump-start' for the economy. It is not supposed to be long term government expansion.
Just like suspension of civil liberties under then Chancellor Hitler was just temporary following the burning of the Reichstag. After all he promised that.
If life is too difficult for some, just believe everything the gubmint tells you and your worries will melt away .
Just like suspension of civil liberties under then Chancellor Hitler was just temporary following the burning of the Reichstag. After all he promised that.
If life is too difficult for some, just believe everything the gubmint tells you and your worries will melt away .
Well, its either listen to the gubmint or my conservative talk show hosts.
If Bush would have really tried to do something about the subprime lending he would have been labeled a racist (he was anyways). He went along with the democrats on wanting everyone to own a home and that's one reason why we are in this mess.
Actually Bush did try but he was told that Fannie and Freddie was just fine
McCain even tried and was told the samething
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