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MenInBrown
Guest
Ive tried explaining this...let me see if I can make it easier for you to understand...Who puts people in Congress?
Mitt's really bad day
- Thread starter roadrunner2012
- Start date
Ive tried explaining this...let me see if I can make it easier for you to understand...Who puts people in Congress?
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MenInBrown
Guest
It hurts when someone proves you wrong...why would someone not want to know about the participation rate...heres some more math for you about job creation...in order for the jobless rate to have dropped from 8.3 to 8.1 like it did solely on job creation there would have been over 400,000 jobs created. Why would worry about the Bush tax cuts, those tax cuts helped everyone...the housing bubble is what killed the economy. There are things in place now that that will not happen again so what policies is romney for? Ive not seen where he said he was going to allow another housing crisis...have you? Since we are in the blame game, Bill Clinton is the true cause of the housing bubble..Bush inherited it. I read your statement and I keep waiting for you to tell the other half of the story...like GOP not passing a single bill...did you forgot or just not know how our gov works? DEM control the senate and white house...heck Obamas on DEM senate shut down his budget. He did not get not one single vote. So by your math 8.1% is less than 7.8% ooookkkkkk. Fewer people actually working, fewer people actually participating in the work force, 15 million more people on food stamps, and it goes on and on. And actually when the stimilus went into effect is when more and more people dropped out of the workforce.
And heres an idea for you...maybe you should tune in to fox once in a while and get the truth of how bad things really are
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MenInBrown
Guest
its called we have over 16 trillion in debt and obamas plan has over a trillion in deficits each year...president is president for 4 yrs, 4x1 trillion is 4 trillion...4 trillion plus 16 trillion is what class? right 20 trillion...grea,t now yall graduate to 1st grade
Actually the plan is to get the economy going. It's been shown in Europe that "austerity" measures don't work. You don't want to be like Europe, do you?
moreluck
golden ticket member
They , at least present both sides......instead of just protecting O.
That's a stretch.
moreluck
golden ticket member
I posted under "media bias" this morning...miss it ??
Miss it? No. I didn't read it, but I didn't miss it.
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MenInBrown
Guest
glad you would agree with me
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MenInBrown
Guest
Actually the plan is to get the economy going. It's been shown in Europe that "austerity" measures don't work. You don't want to be like Europe, do you?
Finally you've arrived! AAAAAHHHHHHHHHHHHHHHHHHHHHHHHH
brett636
Well-Known Member
From FDR all the way to George W Bush there were a combined total of 39 months of unemployment that was above 8%. Under just Obama we have had 43 months, and counting, of unemployment above 8%. Care to explain that?
menotyou
bella amicizia
The stimulus money was used by the local governments to prop up their budgets. It wasn't meant for that. If Obama would stand up, be a man, and direct that the money will be used for a, b, c, d, instead of here's 3 million-Hope you spend it wisely
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moreluck
golden ticket member
He hasn't been a man for 3 1/2 yrs. I don't think he will turn. "Direct" implies leadership.......he hasn't done that either.The stimulus money was used by the local governments to prop up their budgets. It wasn't meant for that. If Obama would stand up, be a man, and direct that the money will be used for a, b, c, d, instead of here's 3 million-Hope you spend it wisely
You know, we covered all the subjects you are speaking of in other posts, and yet, you have come here to repeat the false claims of the FOX TALKING heads once again. Its amazing to me how many people simply watch a cable news channel, and then believe they are informed, when in reality, they are merely confused by rhetoric and falsehood.
If things in this country are WORSE off than they were in 2008, then OBAMA would be losing more than 750 thousand jobs a month, and that aint happening, second, the stock market that was at 14000 under BUSH before he crashed it dropped to 6600, and it would have to be lower than that to be WORSE, and that aint happening as the market is shooting for 14000 once again. The banking industry that technically crashed in 2007 only to be kicked down the road to 2008 with bailouts from BUSH, were saved by a bigger bailout from OBAMA and today our banking industry is solvent and paying back the loans they received. If it was worse, there would be less banks today than in 2008.
As for your housing claim, this is where we have to repeat ourselfs. Bill Clinton did not cause the housing crisis. Barney Frank did not create the housing crisis, Nancy Pelosi did not cause the housing crisis and Obama did not cause the housing crisis.
Clinton did not order or mandate the interest only loans programs, Clinton did not order the zero downpayment programs, Clinton did not order the building and selling of 6.5 million homes in 10 years and Clinton did not mandate the selling of millions of homes to unqualified buyers. Barney Frank did not mandate the interest only loans, Barney Frank did not mandate the zero downpayment loans, Barney Frank did not mandate the selling of millons of homes to unqualified buyers.
Your hero GEORGE W BUSH DID. A housing bubble had to be created, in 2002 GW BUSH mandated just that with a program he called "THE HOME OWNERSHP SOCIETY". I realize you dont have the first clue what that means because you watch FOX NEWS and most likely listen to right wing radio and THEY would be the LAST to tell you of such things.
He started by calling for the building of 6.5 million homes in 10 years, he called for the selling of 1.5 million to low income black buyers, he called for 1.5 million to low income hispanics or "recently arrived immigrants" (in his own words), he called on the mortgage companies to create "NEW LOAN INSTRUMENTS" to assist in helping to sell these homes to low income or buyers with bad credit. ( in his own words), these "NEW INSTRUMENTS" were the interest only short term loans that have been blowing up in the countrys faces begining in 2007. 3 year, 5 yr, 7 yr,10yr,,12yr and 15yr interest only loans are all coming due, and as each year passes, the next set of time bombs blows up on our economy.
BUSH created the ZERO DOWNPAYMENT ASSISTANCE ACT... meaning that homebuyers did not have to put the normal 20% down that is required to buy a home, and the reason?? He said because the downpayment was a "BARRIER" to home ownership. This meant that all those people who went in with 0 down were behind the 8ball before they ever made the first payment.
BUSH also created the DOWNPAYMENT ASSISTANCE ACT where the goverment would give 40 thousand dollars to low income first time home buyers so they could buy a home and in addition, if they were section 8 previously, that same section 8 that would have paid rents, would then go to paying the mortgage. ( now whos the socialist?)
BUSH aggressively tried to stimulate the marketplace with fast sales and for a short period, it worked, until it all came crashing down with 5 dollar a gallon gasoline and two wars.
As the country dragged down with sky high oil prices, the marketplace staggered and eventually crashed.
THIS HAD NOTHING TO DO WITH CLINTON OR FRANK, but FOX SPEWS and the talking heads try to distract you with tales of such. ITs easier to convince you of that than to provide you with facts.
How about you listen to BUSH himself explain the same thing I just explained to you? Take the time to watch each video and read what I supplied you. Then ask yourself, why doesnt FOX SPEWS or Limbaugh tell you such things?
Burning Down The House: (Karl Rove - Bush Version) - YouTube
Home Ownership and President Bush - YouTube
October 2002 speech by president Bush - YouTube
Bush On Low Income Loans To Encourage Buying Homes - YouTube
President Calls for Expanding Opportunities to Home Ownership
BUSH CHALLENGE
Challenging the Private Sector. The President is calling upon the housing industry, including the, Federal Home Loan Banks, the homebuilders, and the mortgage and finance industry to join with Federal, State, and local governments to help America meet the goal of increasing the supply of affordable housing.
Increasing Affordable Housing and Expanding Homeownership
Peace
TOS
MrFedEx
Engorged Member
Sure...George W. Bush.
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MenInBrown
Guest
Bill Clinton's drive to increase homeownership went way too far
Posted by: Peter Coy on February 27, 2008
Add President Clinton to the long list of people who deserve a share of the blame for the housing bubble and bust. A recently re-exposed document shows that his administration went to ridiculous lengths to increase the national homeownership rate. It promoted paper-thin downpayments and pushed for ways to get lenders to give mortgage loans to first-time buyers with shaky financing and incomes. It’s clear now that the erosion of lending standards pushed prices up by increasing demand, and later led to waves of defaults by people who never should have bought a home in the first place.
President Bush continued the practices because they dovetailed with his Ownership Society goals, and of course Congress was strongly behind the push. But Clinton and his administration must shoulder some of the blame.
In writing this blog entry, I’m following the lead of Joseph R. Mason, who is a finance professor at Drexel University’s LeBow College of Business, a senior fellow at the University of Pennsylvania’s Wharton School, and a consultant at Criterion Economics. Here is a link to a piece that he wrote on Feb. 26.
The Clinton-era document that Mason cites—“The National Homeownership Strategy: Partners in the American Dream”—was hiding in plain sight
on the website of the Department of Housing & Urban Development until last year, when according to Mason it was removed (probably because the housing bust made it seem embarrassing to the department). Mason credits Joshua Rosner of Graham Fisher & Co. with saving a copy of it before it was expunged.
The National Homeownership Strategy began in 1994 when Clinton directed HUD Secretary Henry Cisneros to come up with a plan, and Cisneros convened what HUD called a "historic meeting" of private and public housing-industry organizations in August 1994. The group eventually produced a plan, of which Mason sent me a PDF of Chapter 4, the one that argues for creative measures to promote homeownership.
The very worst idea in the plan, which fortunately never gained approval, was to let first-time homebuyers freely tap their IRA and 401(k) retirement-savings plans with no penalty to scrounge up a downpayment. That, HUD estimated, would have "benefited" 600,000 families in the first five years.
Plenty of other ideas in the plan did become reality, though. Knowing what we know now about the housing bust, the earnest language in the document seems faintly ridiculous. Here's an excerpt. Read it closely and you can see the seeds of disaster being planted:
since you didnt know history before bush...here you go. whats the next excuse...and there are less banks now than 2008...why all the false claims and hypetheticals??? typical left...get out of your box...stop listening to your MSNBC and left wing radio...try listening to commen sense. And by the way I dont listen to right wing radio, Im too busy working
Posted by: Peter Coy on February 27, 2008
Add President Clinton to the long list of people who deserve a share of the blame for the housing bubble and bust. A recently re-exposed document shows that his administration went to ridiculous lengths to increase the national homeownership rate. It promoted paper-thin downpayments and pushed for ways to get lenders to give mortgage loans to first-time buyers with shaky financing and incomes. It’s clear now that the erosion of lending standards pushed prices up by increasing demand, and later led to waves of defaults by people who never should have bought a home in the first place.
President Bush continued the practices because they dovetailed with his Ownership Society goals, and of course Congress was strongly behind the push. But Clinton and his administration must shoulder some of the blame.
In writing this blog entry, I’m following the lead of Joseph R. Mason, who is a finance professor at Drexel University’s LeBow College of Business, a senior fellow at the University of Pennsylvania’s Wharton School, and a consultant at Criterion Economics. Here is a link to a piece that he wrote on Feb. 26.
The Clinton-era document that Mason cites—“The National Homeownership Strategy: Partners in the American Dream”—was hiding in plain sight
on the website of the Department of Housing & Urban Development until last year, when according to Mason it was removed (probably because the housing bust made it seem embarrassing to the department). Mason credits Joshua Rosner of Graham Fisher & Co. with saving a copy of it before it was expunged.
The National Homeownership Strategy began in 1994 when Clinton directed HUD Secretary Henry Cisneros to come up with a plan, and Cisneros convened what HUD called a "historic meeting" of private and public housing-industry organizations in August 1994. The group eventually produced a plan, of which Mason sent me a PDF of Chapter 4, the one that argues for creative measures to promote homeownership.
The very worst idea in the plan, which fortunately never gained approval, was to let first-time homebuyers freely tap their IRA and 401(k) retirement-savings plans with no penalty to scrounge up a downpayment. That, HUD estimated, would have "benefited" 600,000 families in the first five years.
Plenty of other ideas in the plan did become reality, though. Knowing what we know now about the housing bust, the earnest language in the document seems faintly ridiculous. Here's an excerpt. Read it closely and you can see the seeds of disaster being planted:
For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership.
Note the praise for "creativity." That kind of creativity in stretching boundaries we could use less of. Mason puts it well: "It strikes me as reckless to promote home sales to individuals in such constrained financial predicaments."
since you didnt know history before bush...here you go. whats the next excuse...and there are less banks now than 2008...why all the false claims and hypetheticals??? typical left...get out of your box...stop listening to your MSNBC and left wing radio...try listening to commen sense. And by the way I dont listen to right wing radio, Im too busy working
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MenInBrown
Guest
So I guess what Obama is saying is lets not go back to the same failed policies that Clinton started. Im still wondering when Romney said he wanted to create another housing bubble? Anyone have that video.
Then you support stimulus spending.
