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Everything negative that's occured between 1980 and 2008 is Clinton's fault. Everything before 1980 was Jimmy Carter's fault.
The current mess we're in has all precipitated in the past six weeks. Any of it that was looming in the background before January 20th was the fault of the Democratic congress that took office in 2007.
It's all so clear!
You were soooooooooo right until you said, It's all so clear.
Wow now you guys are blaming Clinton for believing in the free market deregulation. That is what republicans do they sell you poison and then blame you for its effect.
Who was the President when the CRA went into effect? What ethnic group was that law aimed at benefiting?
Wow, I missed the part where it said it was all the republican's fault. You can post this a thousand times and it won't make a difference to liberals. They know what they did and they don't care. You can show them the you tube videos and the newspaper articles but they'll just point that finger at the Republicans who tried to stop them, and the corrupt liberal news media will go along because they don't care about truth either.
Other that providing a 10 minute youtube video, what power did Barney Frank, in a minority position have to stop any Regulation from being passed in Congress? Please explain.
At what point during the Republican Majority Congress and Republican White House was a bill introduced to actually change regulations? Please enlighten us all.
Which Branch of Government is responsible for Enforcing regulations on the books?
Which Branch of Government is responsible for supervising GSEs?
Which party had majority in Senate and House in Congress during all of those "warnings"?
While you're at it, please show me a filibuster by a single Democratic Senator that blocked legislation to include any new Regulations.
Did the GOP President or the GOP Congress passed laws regarding any new Regulations? Yes or no?
Except for one itsy bitsy, teeny weeny little factoid....Obama is not stealing. His vice President is not a war monger stealing via Hell-iburton. Obama is not giving us the BS by telling us that Iraqi oil will pay for the illegal occupation.
Obama got here too late for the crap you post about. Now, whose money is he spending? He is spending lots of it and won't collect enough in taxes so whose money is he spending?
What do Republicans have to say about the 10 Trillion debt Reagan and the 2 Bushs have rung up
When the previous 40 presidents(including Clinton) Only rung up a 2 trillion debt or so
that is 3 presidents 20 years- 10 Trillion
40 Presidents, 200 years- 2 Trillion
I bet you will be silent on this
You are correct. Clinton increased public debt by 1.12 T in his first term and 0.42 T in his second term for a total of 1.54 T. Reagan increased public debt by 0.65 T in his first term and 1.04 T in his second term for a total of 1.69 T. GHWB was the big spender. He increased public debt by 1.40 T in just one term. His son increased public debt by 1.15 T in his first term, or about the same amount as Clinton in his first term. Not bad considering all he had on his plate.
Anyways, Congress either approves or disapproves of any President's proposed budget and does what it likes with spending and taxes. The idea that a president sends a budget to Congress and they have to live with it is a ridiculous assertion, but that seems to be what you are saying. The truth is that Congress has final say over financial matters. Remember when the Republican lead Congress shut down the federal government twice to force Clinton to go along with spending cuts in late 1995 and early 1996? See, they can do that. They control the purse strings.
Back then, when Newt and company took over the Congress, we tried a line item veto that Reagan had previously requested of the American people when he was in office. Introduced by Dole and cosponsored by McCain, it became known as the Line Item Veto Act of 1996. Clinton used the new power the Republican Congress granted him 11 times until it was declared unconstitutional by the USSC. Oddly enough it was mostly Democrats (Byrd D, Moynihan D, Levin D and Hatfield R) who took on the line item veto. Shame too because it really had potential. Say, Do you think the Republican revolution of 1994 that placed Republicans in power beginning in 1995 may have had something to do with Clinton's numbers looking so rosy in his second term vs. the first? Do you think the Democrats taking control over both houses in 2007 may have something to do with our annual debt increasing now? Anyways, nice job trying to draw attention away from the fact that Democrats in Congress (and our new President) blow up budgets. No charge for the free civics/history lesson.
Let's just draw an outline of who's to blame for our situation in the eyes of right wingers today
Jimmy Carter.........deserves blame
Ronald Regan........Great Hero
Bush I ...............deserves no blame
Clinton ................deserves lot's of blame
Bush II..................heck of a job
Obama...................deserves blame.
yea it is all Clintons fault and Jimmy Carter, if Clinton hadnt got a blow job from that girl America would be fine, never mind Reagan deregulating everything and running up a 5 trillion dollar debt and the Bushs just following in his foot steps
All Clintons fault, and Jimmy Carter
Why is it that some of you people can so easily just brush away facts, and are content to live with your own ignorant opinion on a matter. If ignorance guides every decision you make as it apparently does your political thinking, you will never be successful at anything.
The OP here is absolutely 100% correct. These issues have been discussed in many different publications that are available both on the Internet and in hard copy form, by columnists, economists, political analysts, editorials, etc., since late last summer.
The hard analysis of the situation points to the easy credit, no-qualify loans, the forcing of banks (provision of Jimmy Carter's CRA whether you like that particular fact or not, and expanded by Clinton) to lend to otherwise unqualified borrowers in low income neighborhoods (because many Democrats; Carter, Clinton and those in Congress pushing their agendas, believed it was a "Constitutional right" to own a home).
In 1995 Clinton made regulatory changes to the Community Reinvestment Act (CRA, Jimmy Carter era). Investors Business Daily reports that this action sent Fannie Mae and Freddie Mac into "hyper-drive", and trillions of dollars were injected into the housing markets "using leverage and explicit taxpayers' guarantees", the article said.
In November 2000, Clinton's HUD announced new regulations, which provided $2.4 trillion in mortgages for "affordable housing" for 28.1 million families through Fannie Mae, reported to be the "largest expansion in housing aid ever".
Even in the early 1990's many people were alarmed by what they saw happening at Fannie and Freddie, according to reports (you can Google any of this "history")
Further, with a little research (Google) it is very easy to discover that the Republicans had been warning of such a crash in the mortgage industry for years, but were up against stiff resistance to any kind of regulation or better oversight, by Democrats, most notably; Barney Frank, Chris Dodd, Chuch Schumer, Dick Durban, Maxine Waters, and many others, who mocked the Republicans for believing that the mortgage industry (specifically Fannie Mae and Freddie Mac) were headed for trouble. They asserted that the Republicans were only trying to create crisis where none existed, for political gain.
Barney Frank had this to say, in response:
"Fannie Mae and Freddie Mac are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
The rest is history. We are where we are, and the causes are clear. You can deny all you want, but facts are facts.
Obama, for his part is doing nothing to improve the situation, and everything to make it worse. The markets are tanking further because of his inaction, and actions and pronouncements he is making about trillions of dollars in spending for all kinds of PORK programs, none of which will improve the economy (stimulate business) such as cutting or elimination of the capital gains tax.
Obama has proven himself to be totally inept, and incapable of making the right decisions to improve the situation. He simply has no idea of what he is doing.
His recent statement, "I do not pay any attention to the day to day gyrations in the stock market; it's like a tracking poll", is very telling. He does not care. He doesn't understand the market, and he doesn't know what to do about it. He has no clue.
Wow now you guys are blaming Clinton for believing in the free market deregulation. That is what republicans do they sell you poison and then blame you for its effect.
It was the right poison at the time. It worked, didn't it? The systematic deregulation started with Reagan and ended with Bush's misson to get 5.5 million low income African Americans and Hispanics a mortgage to buy a house. Of course during Bush years it was not the right thing to do due to the overheating of the housing maket. The opposite would have been the right thing to do.
"President Bush visited a once-blighted neighborhood on the south side of Atlanta today that an innovative federal housing project has transformed. Mr. Bush said the program should be a model for government efforts to help 5.5 million black and Hispanic families buy homes in the next eight years.
In an hourlong visit that underscored his effort to bolster the scant support that he received from black voters in the 2000 election, Mr. Bush visited largely hostile political territory to make the case that his administration was working to close a gap between the percentage of whites who own houses compared with that for blacks and Hispanics."
The fundamental cause of the speculation that destroyed the equity and real estate markets was the implementation of unacceptably low interest rates and market deregulation started under Ronnie Raygun. The problem was increased by the insane borrow and spend finance policies. Instead of borrowing the money for the military spending the government should have taxed the speculators.
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Clinton did his part to expand the CRA, and was responisble for what was called the largest expansion of housing aid ever.
It wasn't until the Clinton administration that real presure was put on banks to comply with the terms of the CRA.
Incidentally, Obama, working for ACORN as a "Community Organizer" was working in the "hoods" pressuring the banks (literally threatening banks per the CRA) to comply or lose their FDIC backing. That is one of the things he did as a "Community Organizer".
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