ibraheim718 wrote:Let me see if I'm following this latest bit of BS...
So Baby Bush takes office and is given a surplus to play with left by the former administration.
Then 9/11 takes place and the economy takes a hit. So Baby bush decides to start a war (an expensive one)... then he starts another war. All the while he is encouraging banks to lend, lend, lend (I acknowledge Clinton was doing the same) regardless or not if the borrowers can pay, pay, pay.
Then Baby Bush decides to cut taxes for everyone including the wealthiest people in america... because after all cutting taxes stimulates the economy... supposedly War does also.
Then the housing bubble bursts and Hank Paulson decides we have to scare the Chit out of congress so he hands them a three page document that basically says "hey I need 700+ billion dollars of tax payer money or we're going to be F****ed I'll explain why after you write me the check". This coincidentally happens right after Baby Bush is about to leave office and while we are losing jobs at a rate of 700,000 per month.
So why didn't the tax cuts stimulate the economy? Why weren't jobs being gained not lost when the corporate elite were making record profits?
And now the republicans don't want to pay the bills we are going to be past due on. Instead they want to put them off so they can be discussed in 2012 when the presidential election is going to be heating up? They also want to see a cut back in a completely solvent program in social security?
All Obama needs to do is call their bluff. And if the economy once again takes a plunge all he has to say is "hey I'm not the one who didn't want to pay the bills". How does this approach work in the republican party's favor? I don't see it. And the democratic party has to do nothing but simply let the Bush tax cuts expire and then make it clear during his bid for re-election how much revenue will be created from just letting the tax cuts expire in a simple enough way to where the american public understand it.
I am just getting a huge kick on how the republican party is digging their own grave for 2012. Why do you think Boner wants to cut a deal with the president only to be hamstrung by the tea baggers and be fed a line of crap to go on television to spew out of his tanned embalmed mouth? Because he knows the ramifications that will happen if they just do nothing. Knowing the Chinese will lose their patience with a country they most likely despise who owes them trillions of dollars. I honestly don't know what the Chinese would enjoy seeing more an american government lose it's once high standing as the economic superpower it once was or the interest that will accrue from the hefty loan america has taken over the years from them that they cannot afford to pay.
If you want to play fast and loose with the truth thats your choice, but lets cast the revisionism aside for a moment. I suppose social security's solvency is tied to the fact that its scheduled to run out of money within 25 years?
Im not a fan of GWB, never was I always viewed him as a Rino but I do recognize he inherited a situation that no president had until that point. An act of terrorism in NYC that was unprecedented. I understood the need to go into Afghanistan but I didnt agree wholeheartedly with Iraq, I thought the real threat was Iran and I was right.
The wars have cost over a trillion dollars and counting. But candidate Obama railed against the wars and doubled down on both once he got in office and continued without congressional approval in Libya something his predecessor never did.
Now any rational person knows how the economy got to where we are. That was the mortgage crisis. I was in the business I know first hand fraud was rampant on every level. From borrowers and mtg brokers doing liar loans to mortgage banks being complicit via their field reps telling brokers how to package a suspect loan for approval to Wall st who looked the other way because pass the potato didnt end with them.
So when people who had no business getting these loans didnt pay, it caused a domino affect throughout the economy, massive defaults, bankrupting lenders and people couldnt use their homes as atms anymore.
So how did these evil subprime loans get started? Funny you should ask. You see in the 90s BILL CLINTON in conjunction with HUD outlawed redlining and forced the govt lenders to provide low income families loans on a massive scale.
Thus the floodgates opened. And now were drowning in debt. So while yes Bush made plenty of bad decisions, dont try to put the meltdown at his feet and ignore the ineptitude of your idol Bill Clinton.
The economy was doing fine until mid 07, a year and a half before Obama was elected. And what has Obama done since entering office? Funny you should ask. He inherited a half a trillion deficit and QUADRUPLED IT.
Your boy Obama owns this economy and our malaise and he's not going to get what he wants in this standoff and hes not getting re-elected.
You've just been teabagged.

Trust but verify.