Re: Eric Cantor is Gone
Pg 2 of 2:
Sorry, but plenty of Democrats knew Saddam had WMD's..
Oh, sure. Democrats were just as guilty for not insisting that Bush, come clean about his playing fast and loose with the facts. Yet, it was Dianne Feinstein, a small group of Democrats and one Independent who had to ask the Bush administration five (5) times to refresh the NIE on Iraq, before invading. Bush, refused four (4) requests and finally acquiesced on the fifth by having early 1990's NIE on Iraq, twisted to conform to a storyline that made Saddam the most dangerous man to western civilization since Adolph Hitler himself. All of it was a bald face lie and the knew it when they were telling it. Anthrax, Aluminum Tubes, Mustard, Botulinum Toxins, Mobile WMD Platforms - all of it lies.
Clinton's " affordable lending '' initiative set off a huge time bomb in the form a Sub-prime bubble that was so systemic it's collapse caused Capital Markets all around the world to tank in 2008.
Nonsense. You apparently don't know what causes economic collapses. Housing prices have NEVER caused and economic collapse - not in the history of histories has it ever happened. Markets have seen bubbles come and bubbles go without causing and economic collapse. Causal to the economic implosion of 2008, was the abject lack of attention that Bush 43, gave to domestic concerns from 2000 through 2007. THAT is what caused the problem. It came as a direct result of a LOSS OF JOBS! When you cannot pay your mortgage anymore because you have been downsized and re-engineered out the front door with a pink slip in your hand, it does not matter whether or not your mortgage payment is $500 or $5,000 per month. The fact is, you are out of a J.O.B. and you no longer have the ability to afford ANY mortgage, regardless of what its terms and conditions might have been or whether or not the home loan origination might have been too easy.
Job loss, as a direct result of shipping middle class work overseas and tearing down our ability to manufacturer here at home - that is what caused the bubble to be exposed and that is what caused the rate of acceleration in foreclosures to increase. For someone lauding themselves as informed on the issues, you seem to have no idea what's going on here. The way in which a loan is originated has absolutely nothing to do with whether or not the economy collapses. Economies fail with capital no longer circulates and that happens when consumers STOP spending - and - that takes places when people lose their jobs.
It was JOB LOSS under the watchful arrogance of one George W. Bush, who said "I wake up with war on my mind," that caused the collapse of mortgages around the country. Were predatory lending practices in place during Clinton? Absolutely, yes. Did we see a mortgage crisis? Absolutely, no? Why? Because under Clinton, the nation experienced the largest economic boom cycles in world history and people HAD JOBS. That proves that the lie you keep telling that somehow it was Fannie Mae that caused the problem, is nothing more than that - a lie. Fannie Mae, had been involved in trying to undo what redlining had been doing for decades before, by making home ownership available to more Americans. When they had jobs, they could afford the payments - else they would not have qualified for a mortgage in the first place.
Have you ever purchased a home before? I have - several in fact over the years and each time, it was my Debt to Income ratio plus credit that determined the size of the mortgage I would qualify for. That means, without said income you no longer qualify. So, running around the country trying to sell the nonsense that it was unqualified people who caused the economy to collapse, is completely uninformed gibberish. Go out and get a mortgage some day and see how the loan origination process actually works.
"Trickle Down ' ( a leftist mis-characterization of Conservative economic principles ) actually WORKS. Texas is a great example, and the GDP explosion that happened under Reagan.
I actually call it Trickle Clown, because one has to be a clown to actually believe that it works. Furthermore, I'm not a Leftist. I'm a Realist. That means I call it like I see it. Reagan, gave us the concept of deregulation which put this country on the wrong footing to begin with. Later, Clinton, signed legislation that would accelerate deregulation in the financial industry in a deal with republicans for other concessions that he felt were important. What Clinton, did was dead wrong and to that degree it hurt the country. But, we had already had Savings & Loan Bailout problems as a direct result of under-regulation and a form of deregulation long before Clinton ever took office. Or, have you forgotten about de-regulatory roots and where they come from. It started with Ronald Reagan, when he began deregulating other industries. You need to do more homework.
But I suppose you think stimulus and 6 Trillion in new debt with a GDP contraction 6 years into a Progressive presidents tenure is better than a REAL RECOVERY.
Apparently, you can't read either. I've already explained WHY the recovery was so slow, if you had bothered to pay attention. The taxpayer bailed out banks and corporations with the president's leadership. It was then the banks and corporations turn to bail out the American People with Jobs and Business Start-Up capital. Did they do it? NO! The corporations stored up cash overseas and the banks "Just Said No" to small business start-ups and medium business expansion capital. Those are the facts. You can ignore them and create an alternate reality if you so desire, but it won't change extant history. You would be better off trying to get a grip on the subject matter, as opposed to spouting off with half baked notions and fact starved ideas.
And if your'e so concerned about the " exodus of corporate capital ''how about you support tax incentives that would bring that capital back.
My goodness! This is precisely what the President has been trying to do! Read about it here:
Fact Sheet PDF.
No, your'e just perpetuating tired and warmed over talking points, nothing else. And you can thank Clinton's Republican Congress for that " surplus ''. The House writes the budget and Clinton threw a hissy fit 5 times before signing it.
So, you take away credit while the President is Democratic every time you get the opportunity, yet you call your ideas what - good for the country? If you can't call a spade a spade then what are you doing here? It was Clinton who submitted the ONLY president in modern times to balance the budget. My goodness, you once again demonstrate that you really have no command of the facts.
Can you name ONE republican president who EVER submitted a balanced budget? Of course, you can't. So, who do you think you are kidding here with these nonsensical statements about who demonstrates real fiscal policy. Forbes Magazine, not a Liberal Rag, did its own analysis of all U.S. Presidents and determined that the top three (3) highest performing presidents with respect to fiscal policy was:
- Clinton
- Johnson
- Kennedy
The bottom three (3) performers were:
- Nixon
- Eisenhower
- Bush 41
Now, that comes from Forbes, not me. Do better homework. Source. Your biggest problem is that you are Party bound and gagged. Full stop. When you derive some facts that actually line-up with history, let me know and I'll gladly debate the matter further.