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Thread: Breaking: Agreement has been reached on raising the debt limit....

  1. #411
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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    That is what the 800 billion stimulus was supposed to do. it was a failure
    The $800 billion stimulus was about $700 billion short on a nominal basis, and completely mis-constructed on a targeted basis. None-the-less, the derivative of stimulus spending proves that fiscal policy can smooth consumption throughout a business cycle.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama: We have a deal

    Quote Originally Posted by Goldenboy219 View Post
    Your question was pointless.

    You are welcome.
    If my question was pointless, then wouldn't that make your posting of the comment pointless?

  3. #413
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    Re: Obama: We have a deal

    Quote Originally Posted by Sheik Yerbuti View Post
    To let the Republicans, who were in charge, do nothing to add oversight to the GSE's
    What did the Democrats do with oversight and what was the Democrat Plan on home ownership? Selective memory as usual

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    Re: Obama: We have a deal

    Quote Originally Posted by Goldenboy219 View Post
    The $800 billion stimulus was about $700 billion short on a nominal basis, and completely mis-constructed on a targeted basis. None-the-less, the derivative of stimulus spending proves that fiscal policy can smooth consumption throughout a business cycle.
    Obama had a blank check, he got what he wanted. It couldn't have anything to do with the misuse of those funds, could it? Bailing out unions and state contracts along with targeted tax cuts don't sound like shovel ready jobs to me.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Reagan's was worse.
    No it was not. A fed manufactured recession is peanuts compared to one in which trillions of dollars in global monetary stimulus is powerless to counteract.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama: We have a deal

    Quote Originally Posted by LesGovt View Post

    I confess that there are many things about which I am ignorant and one is home ownership in 2004. Sheik, when President Bush said this in 2004, was this statement true or false?
    You calling Bush a liar? Can't fully disagree with you there, but anyway, this one appears to be true ...
    Bush Minority Homeownership Plan Rests Heavily on Fannie and Freddie

    When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

    But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

    Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

    Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.

    Besides its $180 billion mortgage purchase commitment, Freddie Mac gave President Bush a promise to implement a 25-point program aimed at increasing minority homeownership. Some of the points were cutting-edge. For example, as part of an effort to remove the fear of financial loss from first-time minority home buyers, Freddie committed itself to "explor(e) the viability of equity assurance products to protect home values in economically distressed areas."

    Pressed for details on "equity assurance" by RealtyTimes, Freddie Mac vice president Craig S. Nickerson said the idea is still at an embryonic stage, but might involve limited guarantees or insurance coverage to protect buyers from the possibility of loss of their initial equity stakes should property values in their neighborhoods decline.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post

    Talk to Goldenboy, what do you expect when you spend over a trillion dollars of taxpayer money? Good lord, Man, it is .4% and 1.3% now shows how he really motivated the private sector and how the stimulus failed.
    How do you figure the stimulus failed given it was intended to carry us through the end of 2010?

    Not to mention how according to your numbers, the stimulus surpassed its key goal of saving/creating 3.5 million jobs by then.

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    Re: Obama: We have a deal

    Quote Originally Posted by Goldenboy219 View Post
    No it was not. A fed manufactured recession is peanuts compared to one in which trillions of dollars in global monetary stimulus is powerless to counteract.
    Which is what made it worse, record high interest rates and high inflation plus rising unemployment. That was worse for the American people than what we we faced in 2008. I lived and worked during the 81 recession, did you?

  9. #419
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    Re: Obama: We have a deal

    Quote Originally Posted by Sheik Yerbuti View Post
    How do you figure the stimulus failed given it was intended to carry us through the end of 2010?

    Not to mention how according to your numbers, the stimulus surpassed its key goal of saving/creating 3.5 million jobs by then.
    Look at the economic growth today, you call that a success? Only the 40% that continue to support Obama believe it was a success

    My numbers? LOL, dilusional, CBO numbers not mine and CBO only scores what they are given thus that was what they were given by Obama

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    Re: Obama: We have a deal

    Quote Originally Posted by Sheik Yerbuti View Post
    [COLOR=blue]You calling Bush a liar? Can't fully disagree with you there, but anyway, this one appears to be true ...
    I realize that you think you are just being cute, but we would not want truth to be lost in your cuteness. I never said that Bush was or was not lying. I asked the person to tell me if it was. Again, there are many things about which I do not know and I need other people to help me out. He did and now you have. I thank both of you.

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