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Thread: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

  1. #1321
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

    Quote Originally Posted by pbrauer View Post
    The truth is that President Bush didn't like the bill.

    George W. Bush: Statement of Administration Policy: H.R. 1461 - Federal Housing Finance Reform Act of 2005

    snip
    The dramatic growth of the housing GSEs over the last decade, as well as recent accounting and operational problems, underscore the importance of protecting the broader financial markets from systemic risks caused by their actions. The housing GSEs' outstanding debt is approximately $2.5 trillion, and they provide credit guarantees on another $2.4 trillion of mortgages. By comparison, the privately held debt of the Federal government is $4.1 trillion. Housing GSE debt is issued largely to support sizable portfolio investments that are unnecessary to fulfill the GSEs' housing mission. Given the size and importance of the GSEs, Congress must ensure that their large mortgage portfolios do not place the U.S. financial system at risk. H.R. 1461 fails to provide critical policy guidance in this area.


    The Administration strongly believes that the housing GSEs should be focused on their core housing mission, particularly with respect to low-income Americans and first-time homebuyers. Instead, provisions of H.R. 1461 that expand mortgage purchasing authority would lessen the housing GSEs' commitment to low-income homebuyers. Likewise, provisions that divert profits will lead to increased risk-taking and decreased market discipline, while exacerbating systemic risk.


    The Administration remains committed to bringing real reform to the housing GSEs and looks forward to continuing to work with Congress to ensure that the needed reforms are part of any final legislation.
    I love this part ...

    H.R. 1461 fails to include key elements that are essential to protect the safety and soundness of the housing finance system and the broader financial system at large. As a result, the Administration opposes the bill.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Sheik Yerbuti View Post
    So what, they had the votes to filibuster?? Most Senates we've had, had a minority party with enough votes to sustain a filibuster. Still, they didn't filibuster and they didn't block the bills.

    That doesn't prevent the majority party from submitting a bill for a full Senate vote. In the House, Ryan knew his budget wouldn't pass in the Senate. Did that prevent him from passing it anyway to put the Senate on record as being against it? No, of course not. Republican leadership never put either of those bills on the legislative calendar. They're to blame for that. You can't reasonably blame Democrats because Republicans were afraid of them.
    Democrats blocked GSE reform

    The evidence is overwhelming and irrefutable. There was no need to filibuster. The threat of a filibuster was enough to keep the bill from ever receiving an up or down vote. Democrats had the 41 votes necessary to keep the bill endlessly in gridlock, so it would have been a waste of time without ANY Democrat support when Democrats would have just kept it endlessly in debate/limbo. It's not my problem your partisanship has blinded you to theses irrefutable facts.

    Democrats shoulder the majority of the blame for the Financial Crisis

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

    Quote Originally Posted by Sheik Yerbuti View Post
    I love this part ...

    H.R. 1461 fails to include key elements that are essential to protect the safety and soundness of the housing finance system and the broader financial system at large. As a result, the Administration opposes the bill.
    Wrong Bill. Nice try though.

    Senate version s190

    Federal Housing Enterprise Regulatory Reform Act of 2005 (2005; 109th Congress S. 190) - GovTrack.us

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

    Quote Originally Posted by Bronson View Post
    President Bush was not in favor of S.190 either. Nice try though.

    Freddie Mac - Wikipedia, the free encyclopedia

    Snip
    President Bush recommended a significant regulatory overhaul of the housing finance industry in 2003, but many Democrats opposed his plan, fearing that tighter regulation could greatly reduce financing for low-income housing, both low- and high-risk.[29] Bush opposed two other acts of legislation:[30][31] Senate Bill S. 190, the Federal Housing Enterprise Regulatory Reform Act of 2005, which was introduced in the Senate on January 26, 2005, sponsored by Senator Chuck Hagel and co-sponsored by Senators Elizabeth Dole and John Sununu. S. 190 was reported out of the Senate Banking Committee on July 28, 2005, but never voted on by the full Senate.


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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Jack Hays View Post
    You have rebutted nothing.
    If you are now saying that your argument was "nothing", I agree.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Sheik Yerbuti View Post
    WTF does a job performance poll have to do with a handling of the economy poll??

    [/COLOR]
    You brought up polling. So look in a mirror when you ask that.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Bronson View Post
    Democrats blocked GSE reform

    The evidence is overwhelming and irrefutable. There was no need to filibuster. The threat of a filibuster was enough to keep the bill from ever receiving an up or down vote. Democrats had the 41 votes necessary to keep the bill endlessly in gridlock, so it would have been a waste of time without ANY Democrat support when Democrats would have just kept it endlessly in debate/limbo. It's not my problem your partisanship has blinded you to theses irrefutable facts.

    Democrats shoulder the majority of the blame for the Financial Crisis.
    Where trading phony baloney derivatives on Wall Sttreet?

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

    Quote Originally Posted by Sheik Yerbuti View Post
    Bush exploded the debt. To show for it we ended up with the worst economy in 80 years and an additional 12 million people un/underemployed and discouraged. Most of the debt accumulated since then is recession related.
    So the solution to $400 billion in deficit spending is $1 trillion in deficit spending? Recession related? Thats baseline spending. Im not sure how you push that level of spending onto Bush and ignore that Obama wanted and continue to want even more spending. Its not at all that Obama wanted to spend less. He wanted to spend much, much more, up to and including a 2nd stimulus and he took attempts to pass other larger spending bills that didnt go through.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post
    The U-3 is what most people/media use as the guidepost.
    Really?

    So, if you include those workers which the Fed says (in essence) are technically unemployed - then the unemployment rate should be well over 9%.
    Discouraged workers are included in U-4 through U-6. The Fed never said anything about including discouraged workers in the paper by Van Zandweghe, which is why you failed to quote anything in regards to that nature.

    Spin and spin and spin...all you do is show your (apparent) closed minded bias.

    Me - I have no bias...I think both parties are worse then useless.
    I do not have a bias, i simply call it how i see it. You on the other hand have expressed a deep anti-government bias throughout your history on this site. Anything that clashes with your anti-government POV is close minded.
    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: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by pbrauer View Post
    Where trading phony baloney derivatives on Wall Sttreet?
    That were made legal by a bi-partisan vote.

    Keep that in mind. Establishment DC is the problem. Not right, not left---corrupt politician morons bought and paid for by lobbying and special interest favors to make the social engineering portion of home ownership have risk release valves so they could get the banking and financial industry to do it.

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