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Thread: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

    That is Palin at her best

    Remember Laura Bush on tape when she misprounced Hurricane Katrina ..

    Hell Palin could not even tell folks if Africa is a continent


    LOL .... Prof makes her look somewhat intelligent

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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

    what did she misprounce again?

    LOL!

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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

    Quote Originally Posted by The Prof View Post
    what did she misprounce again?

    LOL!
    Let's see if I have this right, Obama is going to increase the debt by 1.2 TRILLION more than he even predicted and Mercer wants to make this about Palin, Laura Bush, Reagan, GW Bush, or just about anyone else? don't blame him. I would be running from the Obama record as well.

    Mercer looks like the type individual that needs Obama to take care of him and Obamacare for mental help. Mercer is an example of what is wrong with this country today and the vitriol that comes from anyone who disagrees with the liberal point of view.

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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

    Love it


    I thought giving a taste of Airhead Annie was overdue


    Lets see ... The Professor gal today said "what is the CFR?"


    LOL ... what an airhead deluxo !!!

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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO


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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

    Lying SOS ...

    you had no clue today so sell your bullcrap elsewhere

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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

    ooh, the anger

    LOL!

    what did she misprounce again?

    why didn't she just right it on her hand?

    LOLOLOL!

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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

    I thought this would turn out to be an intelligent thread….sadly I was wrong.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

    Quote Originally Posted by Conservative View Post
    Actually there is quite a difference between the approach that Reagan and Bush along with the Federal Reserve to get us out of the recessions. First of all it is the private sector that drives the U.S. Economy, not the public sector and both Reagan and Bush knew that.

    Their tax cuts along with the loose monetary policy which lowered interest rates in Reagan and Bush's terms focused on the private sector, encouraged investment by stimulating consumer spending. That created jobs and reversed the recession. Obama's focus is on the public sector and is doing nothing but creating debt. Reagan entered office with rising unemployment, double digit interest rates, double digit inflation making it a much worse situation than Obama. Reagan did the right thing, Obama didn't
    Yes it encouraged consumer spending, leading to a negative savings rate, people taking out bigger and bigger mortgages, taking out equity from their homes, yep. Just the conditions to set up a housing bubble


    As you stated CRA was signed under Jimmy Carter. It was promoted heavily in the 90's under Bill Clinton, and came to a head in 2007-2008 under Bush but Bush had nothing to do with it other than trying to regulate it more but was rebuked by the Democrat controlled Congress. Bad loans were bundled by banks but that isn't anything new. The extent of the bad paper however was greater in 2007-2008 and that led to the financial collapse which led to TARP.
    And do you know what the punishement for being in violation of the CRA is?

    The bank might not be able to takeover or merge with another bank. That is it. It can not force any bank to make a bad loan. All it can do is prevent the bank from buying another bank.

    The MBS market took off during the Bush admin, just as regulations of the banks and financial industry was decreasing. Not only was there less regulation, there was less enforcement of the regulations. The MBS market and the bonds that were created were then rated by the large rating agencies who were paid by the financial institution to rate those bonds. Ie conflict of interest. As Triple A MBS were treated as government debt when held as banking reserves the banks had incentive to buy MBS as they alllowed the banks to increase leverage



    Not sure where Cleveland came into the picture but racism had nothing to do with the collapse of the banks. People who couldn't afford mortgages got them regardless of race. ACORN however did promote minority home ownership and Democrats believe every Americna deserves a home.
    So did Bush, do a search USA1 has posted a number of times links to where Bush encouraged home ownership among minorities and lower economic class's. He in fact created a program or two


    Now as for the CRA what percentage of the bad loans were made under that program?s If the CRA is at fault there has to some stats regarding the number of bad loans made under the CRA.
    [quote]

    What legislation did Bush sign that led to the lessoning of lending regulations? Chris Dodd will tell you about Countrywide[quote] More of the lack of enforcement of existing regulations. Gutting the regulatory bodies of personal which prevented them from doing proper audit and investigations. But the one that under Bush was the change in Basel II which changed the way banking reserves were handled. The ending of the Glass Stegal(sp) act was under Clinton and should not have been passed


    Yep, Obama was in school yet when he got out of school he did a lot of work for ACORN. Now we know how non racist ACORN is,



    You seem to want to make this racial just like some want to make challenging Obama policies as being racist which couldn't be further from the truth in most cases. His policies are socialist and contrary to the very principles upon which this country was built. It is no surprise that he is failing and it is further no surprise that people incapable of competing in society like many on this thread support his efforts.
    I am not talking about Obama's policies or being against being racist

    It is the strong believe that many have that the CRA is the cause of the housing crisis that is racist. An easy scapegoat to be blamed.

    Obamas economic policies are poor, so were Bush 2's and so were Reagans. Bush 1 was realistic in his economic policies, Clinton got lucky

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    Re: US deficit tops Obama forecast by 1.2 trillion dollars: CBO

    Quote Originally Posted by Conservative View Post
    It really is hard dealing with an ideologue who has no civics or economic understanding at all. Bush isn't in office any more and no President has the control that you claim Bush had. It is three equal branches of govt. that runs this country and it is Obama and a far left Congress that is destroying it.

    You can bury your head in the sand and point out selective numbers but you cannot refute what has happened since January 2009. Obama and the Democrat Congress are implementing a far left agenda that seems to make you proud.

    15 million unemployed Americans are in a depression. Obama will double the Bush deficit in 3 years and what do we have to show for it? The labor force has dropped by over a million so tell me how that is good news?

    stop buying what you are told or at least do some research on what those numbers tell you and how they were generated. You have a bad case of BDS and need to seek help. In the meantime "your" President is unqualified to be in the WH and the country is suffering as a result. The facts and the numbers prove it.
    He still thinks its only a 120 Billion dollar deficit. Not wrong by a little eh? I am not sure where you can go from there to help him wake up.
    Thank you

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