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I won't beat around the bush. I think he has something to do with it. |
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First, the reason people are being foreclosed on goes back to the Clinton administration when banks
and mortgage lenders were forced to lower their standards for issuing mortgages under the guise of
affordable housing. People who had no business receiving a mortgage wer given one, and now they can
no longer affordnto keep up the payments. Second, our problems started two yearsago when the
Democrats took control of congress. Their spending far outweighted their income. Congress makes the
bills and the laws, the president either signs them into law or vetoes them. If President Bush is
guilty of anything, it is not using his veto power enough in an effort to work with both parties in
congress. Unfortunately, he didn't learn from his father that Democrats are serpents waiting under
cover te strike. |
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I was torn which side to post on.
On the one hand no President is ever singly responsible for what happens in the economy, Congress
and businesses and world events all have a hand in it, plus Bugman and mollyjmojo are right that bad
loans and a necessary market correction are behind this.
BUT, in the pro-Bush's fault column, his massive diversion of resources to pay for the Iraq War, his
massive deficit spending, and even his constant insisting that the economy was sound even as it
crumpled, can all be fairly pinned on Bush. In other words he greatly strained our system so that
when we finally did get sick it was the flu instead of a cold. |
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The econimic depression is believed to have stated in America by big businesses giving out loans to
people. These people needed a house or car so they borrowed money but weren't able to pay it off. |
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No except insofar as he failed to anticipate or react well to something that has been coming for
sometime. |
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You are in error. This has been coming on for along time. Our national obsession with credit has
caught up with us. Both federal and personal.
It actually has to happen. It will be a good thing. It will be the 'correction' that needs to
happen. Once the bad part is over, we will be a lot healthier as a nation. This was ineveitable and
unavoidable. |
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14 Nov 2008 17:27
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