Posted on 09/04/2011 10:24:05 AM PDT by Sons of Union Vets
From Fox News Channel
Wednesday, September 24, 2008
Special Report With Brit Hume
(Excerpt) Read more at youtube.com ...
Bush did not propose spending ten or thirty billion to help minorities buy homes, he proposed 440 billion!
With a Repub congress, Bush had the deficit down to 160B. It was after Pelosi got in we started to have major problems. Then in Fall of '08 when the markets realized that a socialist President was about to take power the whole thing folded.
Did the Democrats steal Bush’s Veto Pen?
Uh, I didn't say housing was national security. My point was in rebuttal to the poster that Bush was an inattentive guy. On the contrary, his attention paid to the most important thing...our national security...was top-notch.
Ok, so you advocated Bush’s proposal that 440 billion be spent to aid minorities to buy homes?
Who said I did?
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Yes, any GOP President elected in 2008 would have had a problem to face, but I believe the deficit would not have broached $700 billion, and would be back down below $400 billion now, with unemployment down in the 7% range, with GDP growth in the 2-3% range.
The simple reason is that much of our current economic meltdown is because of the actions taken by the President - not doing anything, or doing it to a much smaller scale, would have allowed the economy to recover naturally, instead of the forced-approach the Obama Administration is attempting.
Dealing with the Chris Dodd-led filibuster on housing/Fannie Mae/Freddie Mac reform bills...
“The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.”
That was far too late as a year earlier the Bush Administration was proposing spending hundreds of billions on minority home ownership.
Time line, on what date was his HUD speech promoting the same crap. http://archives.hud.gov/remarks/martinez/speeches/presremarks.cfm
An argument could be made that we might not even have had a collapse in the economy in Fall '08 if a GOP President had been elected.
I'm convinced that a major reason for the crash was the increased regulatory burden the banks saw coming as Obama gained steam. He was promising things like universal healthcare and cap and trade. With a faltering economy this, of course, was enough to cause major investors to sell the market and this produced a domino effect; the major casualty was the housing market because that's where most of the risk-capital was.
When things started to accelerate downward because of the prospect of a socialist taking office, the liberals piled on by blaming Bush. However, I think the real culprit was the significantly higher increase in Gov't spending which was approaching under Obama which, of course, would have to be paid for with higher taxes...big investors pulled out of investments in order to be ready for what was ahead.
I really don't think the '08 crash was inevitable...I believe it really was "Obama's fault".
Funny how some people wish to scream the rats did it, when you had a republican congress.
“Funny how some people wish to scream the rats did it, when you had a republican congress.”
Apparently, you have not read the part of the Constitution that says that Barney Frank has the sole ability to pass laws even when the Republicans control the White House, and the entire congress.
You are Dreaming
The American Dream Downpayment Initiative (ADDI) was signed into law by President Bush on December 16, 2003. The American Dream Downpayment Assistance Act authorized up to $200 million annually. Funds were appropriated for fiscal years 2004-2008. ADDI provided funds to all fifty states and to local participating jurisdictions that had a population of at least 150,000 or qualified for an allocation of at least $50,000 under the ADDI formula. ADDI is administered as a part of the HOME Investment Partnerships Program, a formula grant program.
Bush begs nation for bailout for Banks.
http://blogs.wsj.com/washwire/2008/09/24/speech-text-bush-addresses-the-nation-on-bailout/
“Dealing with the Chris Dodd-led filibuster on housing/Fannie Mae/Freddie Mac reform bills...”
Hopefully if voters give the GOP a majority in the Senate again, they will make better use of it.
I happen to think the economy is shit today in part because banking ran amock under the not so watchful eye of GOP led congressional oversight committees.
And the only evidence I find of the GOP giving a hoot, turns up moderates, not true conservatives.
That program actually looks like it would have phased out funding over time. Too bad it didn't happen that way.
Did the video show the part where the Republicans held the House, Senate and Presidency from 2003 to 2007 and didn’t care to do anything about it?
What influence did Barney Frank have before 2007?
Shouldn’t conservatives at least value action and accountability over words?
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