Whoopsie....
It will be instructive to repeat this over and over that the rats made the mess and Romney has to clean it up.
Fun too
Oh, didn’t they get the memo? History doesn’t matter anymore if it effects any democrats chances for election.
History only matters if it can be used to slime and slander a Republican.
Now, back to your discussion....
A very good piece - clear and direct explanation of the housing bubble.
Everytime I encounter an O worshiper saying “O inherited it” I remind them that O AND Biden were in Congress preceding the big financial meltdown,,and then I ask what O or Biden did to prevent it...
That usual turns the conversation away from O and the person starts throwing insults at me...
That’s when I know I got ‘em!
This is not news to me
I knew about this foour years ago.
The vetting of this democrat presidential candidate is four years too late
Great read ping.
Barney frank and chris dodd, Carter and clinton, gov cuomo head of HUD under clinton. Architects of the deliberate housing mess.
HOPE AND CHANGE!
After three years of Obama.
Here’s your “change” since January 2009!
Avg. Retail price/gallon gas in U.S.
Then: $1.83 Now: $3.44 Change: 84% Source: 1
Crude oil, European Brent (barrel)
Then: $43.48 Now: $99..02 Change: 127.7% Source: 2
Crude oil, West TX Inter. (barrel)
Then: $38..74 Now: $91..38 Change: 135.9% Source: 2
Corn, No.2 yellow, Central IL
Then: $3.56 Now: $6.33 Change: 78.1% Source: 2
Soybeans, No. 1 yellow, IL
Then: $9.66 Now: $13.75 Change: 42.3% Source: 2
Sugar, cane, raw, world, lb. Fob
Then: $13.37 Now: $35.39 Cange: 164.7% Source: 2
Unemployment rate, non-farm, overall
Then: 7.6% Now: 9.4% Change: 23.7% Source: 3
Unemployment rate, blacks
Then: 12.6% Now: 15.8% Change: 25.4% Source: 3
Number of unemployed
Then: 11,616,000 Now: 14,485,000 Chance: 24.7% S: 3
Number of fed. Employees
Then: 2,779,000 Now: 2,840,000 Change: 2.2% Source: 3
Real median household income
Then: $54,983 Now: $50,964 Change: -7.3% Source: 4
Number of food stamp recipients
Then: 31,983,716 Now: 43,200,878 Change: 35.1% S: 5
Number receiving unemployment benefit
Then: 7,526,598 Now: 9,193,838 Change: 22.2% S: 6
Number of long-term unemployed
Then: 2,600,000 Now: 6,400,000 Change: 146.2% S: 3
Poverty rate, individuals
Then: 13.2% Now: 14.3% Change: 8.3% Source: 4
People in poverty in U.S.
Then: 39,800,000 Now: 43,600,000 Change: 9.5% S: 4
Present Situation Index
Then: 29.9 Now: 23.5 Change -21.4% Source: 11
Failed banks
Then: 140 Now: 164 Change: 17.1% Source: 12
U.S. Dollar versus Japanese yen exchange rate
Then: 89.76 Now: 82.03 Change: -8.6% Source: 2
U.S. Money supply, M1, in billions
Then: 1,575.1 Now: 1,865.7 Change: 18.4% Source: 13
U.S. Money supply, M2, in billions
Then: 8,310.9 Now: 8,852.3 Change: 6.5% Source: 13
National debt, in trillions
Then: $10..627 Now: $14..052 Change: 32.2% S: 14
Just take this last item: In the last two years we have accumulated national debt at a rate more than 27 times as fast as during the rest of our entire nation’s history. Over 27 times as fast. Metaphorically speaking, if you are driving in the right lane doing 65 MPH and a car rockets past you in the left lane, 27 times faster, it would be doing 7,555 MPH!
Sources:
(1) U.S. Energy Information Administration; (2) Wall Street Journal; (3) Bureau of Labor Statistics; (4) Census Bureau; (5) USDA; (6) U.S. Dept. Of Labor; (7) FHFA; (8) Standard & Poor’s/Case-Shiller; (9) RealtyTrac; (10) Heritage Foundation and WSJ; (11) The Conference Board; (12) FDIC; (13) Federal Reserve; (14) U.S. Treasury
So, tell me again, what is it about Obama that makes him so brilliant and impressive? Can’t think of anything? Don’t worry. He’s done all this in 33 months — so you’ll have about 3 months to come up with an answer. Every statement here is factual and directly attributable to Barrack Hussein Obama. Every bumble is a matter of record and completely verifiable.
EVERYONE SHOULD READ THIS.
********************************************************************************************************************************************
This tells the story, why Bush was so bad at the end of his 2nd term.
Don’t just skim over this, read it slowly and let it sink in. If in doubt, check it out.
The day the Democrats took over was not January 22nd 2009, it was actually January 3rd 2007 the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress.
The Democrat Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.
For those who are listening to the liberals propagating the fallacy that everything is “Bush’s Fault”, think about this:
January 3rd, 2007 was the day the Democrats took over the Senate and the Congress. At the time:
The DOW Jones closed at 12,621.77
The GDP for the previous quarter was 3.5%
The Unemployment rate was 4.6%
115,000,000 employed Americans and who knows how many illegals (Today there are 111,000,000 employed Americans)
George Bush’s Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB GROWTH.
Remember the day.-
January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
The economic meltdown that happened 15 months later was in what part of the economy?
BANKING AND FINANCIAL SERVICES!
Unemployment - to this CRISIS by (among many other things) dumping 5-6 trillon dollars of toxic loans on the economy from your Fannie Mae and Freddie Mac FIASCOES!
Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001 because it was financially risky for the US economy.
And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? OBAMA.
And who fought against reform of Fannie and Freddie?
OBAMA and the Democrat Congress.
So when someone tries to blame Bush,
REMEMBER JANUARY 3rd, 2007, THE DAY THE DEMOCRATS TOOK OVER!
Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democrat Party.
Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 &2011.
In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.
For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budgets.
And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009.
If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.
If Obama inherited anything, he inherited it from himself. In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th.
The Wall Street Journal reported that middle class income rose 30% between the period 1983 to 2005.....30%! Republicans controlled the presidency during that time with one exception; Bill Clinton, but he had a Republican congress to guide him! Republicans controlled the House from January 1995 until January 2007. Republicans controlled the Senate for 15 of the 22 year period in which middle class income rose 30%.
If Obama gets four more years of his failed policies, there will be no HOPE for any of us.
Bush inherited the dotcom bust, the CRA scam, and the Path to 9-11.
“The buck stops here.”
-Harry Truman
“It’s all due to... anyone but me!”
-Hussein Obama
Well, things have certainly changed in the past six decades.
Great article
Carter gave Reagan 10% unemplyment, 20% interest rates, gfas rationing, gas lines etc. Yet, BHO inherited the worst economy since the Great Depression? Absolute BS.why isn’t Romney doing this ad dail?
How about the Many levels of Insurance Companies Insuring all these Bundled Mortgages? The Banks Knew these Mortgages were toxic,they knew there would be a Lot more Defaults ,so did Insurance companies, they began competing against each other,offering better and Better deals for insuring those Bundled toxic Gems.
Of Course the insurance companies themselves also Knew these were Bad Bets and therefore insured themselves against the Inevitable Losses that surely would Materialize.
All of them though NEVER thought they would all go bad at the same time,but guess what? They did,I have read that these losses were in the tens of Trillions of dollars,and that is where the entire world including Europe took the hit,and they did cause it by telling everyone these were highly rated Bundles. So that is where we are and we have yet to pay the real price,so Obama will get reelected and we are all going to suffer the Horrors
b4l
ping
Yep - if it weren’t for the Democratic Party, we wouldn’t be in the mess we now find ourselves in. The Republicans lost their directions and spines longa ago and tried to hard to pander to the “new age” PC society that the Democrats were busily creating. Politics corrupts - politicians are the proof.
Barack Obama dropped such a pebble in 1995 when he sued Citibank in Chicago. ... So, Mr. President, it might be inferred that the mess you inherited, you actually helped cause yourself.It wasn't only Obama doing the suing in Chicago.
He was proceeded by his partner in Race-Baiting-Crime, the not-so Rev Jessa Jackass who started the ball rolling on banks and finance companies having to give Risky Loans - or else - when he went after Automobile Dealerships in Chicago. Mostly those Auto Dealers along South Western Avenue in the Marquette Park neighborhood from approximately 6400 South to 7400 South.
What once once a nice looking, clean, and thriving business area, is now a ghost town of vacant lots and abandoned buildings. Naturally as the area declined to a mini Detroit, the crime increased. Today it's a war zone and there's no time of the day when it's 'safe' to be out. You can be personally attacked and robbed at gunpoint while waiting for a bus, or catch a stray bullet meant for someone else.
Why don't Romney surrogates use this post-Convention moment to place the "blame" right back on Clinton/Frank/Dodd/Pelosi/Reid/Jackson/et al for what this President claims he "inherited"?
The record is there. Use it.
Obama was a senator when the ‘mess’ was being created. They keep bring up romneys and Ryan’s voting records maybe its time to look at Obama’s.