$12 Billion For Them - 1.5 Million Homeless For Us

[PostmodernProphet]

The fact is Bush inherited a surplus from Clinton, he left a deficit for Obama. Worse, he left a big financial crisis to Obama. Now they accuse Obama because he spend a lot of money to repair the roof. You know, to repair a roof costs more than to pay monthly mortgage.

if he had fixed the roof we wouldn't be complaining......we're just pissed that he spent all that money and all he did was take the shingles off......consider the Reagan administration......he inherited a mess from his predecessor.....he was engaged in a highly political argument with his opposition......yet he was re-elected by a landslide.....that was because people were satisfied with what he did in his first four years.......that isn't going to happen with Obama, is it........

 

[katsung47]

if he had fixed the roof we wouldn't be complaining......we're just pissed that he spent all that money and all he did was take the shingles off......consider the Reagan administration......he inherited a mess from his predecessor.....he was engaged in a highly political argument with his opposition......yet he was re-elected by a landslide.....that was because people were satisfied with what he did in his first four years.......that isn't going to happen with Obama, is it........

Bush's story proves the election is only a puppet show.

Bush was awarded the president of US in 2000. Even Clinton did a good job in his term. There was a historical surplus when Bill left the White House. Yet the Inside Group gave the seat to Bush. Because what they needed was a soulless puppet who willingly to satisfy citizens' lives for Mid-east war. (he activated false flag 911 attack)

Bush was awarded the President of US again in 2004. Because he was proved an obedient puppet. And the Group needed more war - war on Iran. Even he was known as a big swindler whom lied into Iraq war.

How could this happen? Because Feds controls election office. They rigged election to select any candidate who is their favorite. The rest work is left for media which issued fake poll to convince public the election was a fair one.

 

[katsung47]

3. Bush’s legacy is still hurting economy (10/24/2011)

Some people say that after three years, Obama can’t blame Bush on economy failure any more. But the housing crisis still hurts economy and looks like will continue to damage the economy for several years. The problem he left for this country is huge and long-lasting.

The main expense is to bail out the firms too big to fail, especially the mortgage giant Fannie Mae and Freddy Mac. The program to help unemployed, incentive to promote car sale and house sale, program to help the home owners whose house value now are underwater. Here is the real expense, that's the real hole you try to avoid of. Three years after sub-prime loan crisis, the roof is still leaking. Here is the some recent "leaking" result:

Fannie Mae Posts $8.7 Billion Loss, Requests More Fed Aid

WASHINGTON -- Mortgage buyer Fannie Mae reported a loss of $8.7 billion for the January-March quarter, and asked for an additional $8.5 billion in federal aid.

http://www.huffingtonpost.com/2011/0..._n_858812.html

Fannie Mae, Freddie Mac Seek $3.1 Billion Amid Improved Earnings
QBy Lorraine Woellert - Feb 24, 2011 9:01 PM PT

http://www.bloomberg.com/news/2011-0...-earnings.html

Fannie Mae needs another $5.1 billion in aid as more loans sour
.Date: Friday, August 5, 2011,

http://www.bizjournals.com/washingto...1-billion.html

Bank Of America To Cut 30,000 Jobs As Part Of Restructuring Plan
9/12/11
Bank of America stock was up 2 cents at $7 at midday. The stock has lost half its value this year, largely over problems related to poorly-written mortgages it acquired with its 2008 purchase of Countrywide Financial Corp. The bank faces lawsuits from investors and regulators over the sales of mortgage-backed securities that lost value after the housing boom collapsed.

http://www.huffingtonpost.com/2011/09/12/bank-of-america-to-cut-30_n_958432.html

Three years after the break-off of the housing bubble, it still hurts economy and causes unemployment.

 

[katsung47]

4. How Bush blew up the Housing bubble.

Here is a Federal bench interest rate in Bush's term.



you can see how the interest rate dropped to the bottom from 6% to 1% in his first year administration. That low interest rate created a housing bubble. Bush boasted in his administration, America developed an ownership society. The fast growing up bubble without any restriction was finally boken up in 2007, caused the financial crisis in next year. It is still hurting the economy and likely will continue for years.

End of the ‘Ownership Society’
Oct 10, 2008

Bush pushed new policies encouraging homeownership, like the "zero-down-payment initiative," More exotic mortgages followed, including ones with no monthly payments for the first two years. Other mortgages required no documentation other than the say-so of the borrower. Absurd though these all were, they paled in comparison to the financial innovations that grew out of the mortgages—derivatives built on other derivatives, packaged and repackaged until no one could identify what they contained and how much they were, in fact, worth.
As we know by now, these instruments have brought the global financial system,

http://www.thedailybeast.com/newsweek/2008/10/10/end-of-the-ownership-society.html

One thing else you can see from that interest rate chart. Clinton left his a nice interest rate tool to control the economy. The interest rate was 6%. With that interest rate tool, Bush did push up a economy. But he didn't regulate the economy, loosen the bridle of housing loan for his homeowners' society, that caused today's foreclosure problem. What did he leave for Obama? The Federal interest rate was below 1% which left little space for obama to operate. Without that tool, Obama had to borrow money, or do QE (quantitative easing) to push the economy.
Clinton left for Bush a surplus budget and a nice financial tool. What has Obama got from Bush?
--------------

 

[Vader]

:lol:

Bush has been gone for 3 years, your party had control of both the house & senate and could have pulled everyone out like Obama had promised during his campaign, yet we are still their and you want to blame Bush???

Yeah .... well ... the economy didn't fail while a Democrat in office. It happened while Darth Cheney and Bush were in office.

 

[PostmodernProphet]

but it took a Democrat to make it twice as bad in half the time......

 

[Vader]

but it took a Democrat to make it twice as bad in half the time......

Regardless. If not for greedy republicans, and their absolute servitude to business, the economy would not be where it is today. The republicans are responsible for this and they know it. They just lack the ball-balls to admit it.

 

[PostmodernProphet]

and if Obama hadn't wasted a trillion dollars on a "stimulus" program that doubled unemployment the economy wouldn't be where it is today........you lack the brains to admit it.....

you have to admit, it took Bush eight years to add $5 trillion to the deficit, Obama did it in less than three......

 

[Vader]

and if Obama hadn't wasted a trillion dollars on a "stimulus" program that doubled unemployment the economy wouldn't be where it is today........you lack the brains to admit it.....

you have to admit, it took Bush eight years to add $5 trillion to the deficit, Obama did it in less than three......

Obama had to do something to clean up the mess that Bush and Cheney createed. PERIOD.

Now please spare us your republican-apologist nonsense.

 

[PostmodernProphet]

Obama had to do something to clean up the mess that Bush and Cheney createed. PERIOD.

Now please spare us your republican-apologist nonsense.

perhaps, but it's unfortunate that what he chose to do was fuck it up even worse........how do you justify that?.....I can remember the 08 election......the supporters of Obama claimed to be incensed by the profligate spending habits of Republicans......now, despite their having spent even more in the last three years, they're willing to shut down the federal government completely rather than reduce spending by a single penny.........

 

[Vader]

perhaps, but it's unfortunate that what he chose to do was fuck it up even worse........how do you justify that?.....I can remember the 08 election......the supporters of Obama claimed to be incensed by the profligate spending habits of Republicans......now, despite their having spent even more in the last three years, they're willing to shut down the federal government completely rather than reduce spending by a single penny.........

Republicans want to fix the deficit by eliminating federal jobs. The democrats want to fix the economy by taxing millionaires and billionaires.

The republican proposal is unthinkable and they are only offering it because they want to protect a bunch of greedy swine from paying their fair share.

 

[PostmodernProphet]

Republicans want to fix the deficit by eliminating federal jobs. The democrats want to fix the economy by taxing millionaires and billionaires.

The republican proposal is unthinkable and they are only offering it because they want to protect a bunch of greedy swine from paying their fair share.

I notice you have difficulty addressing questions......how do you justify Obama's $5 trillion deficit in just three years after the 08 campaign was run on complaining that Bush had a $5 trillion deficit after eight years?.......

 

[katsung47]

I notice you have difficulty addressing questions......how do you justify Obama's $5 trillion deficit in just three years after the 08 campaign was run on complaining that Bush had a $5 trillion deficit after eight years?.......

Yes, the debt is huge in Obama's regime. That's the result to repair the damage Bush has made. Clinton left Bush a surplus and an interest rate tool to cure the economy. What did Bush left for Obama? Housing bubble, financial crisis, tax cut bill, two wars in Mid-east.....
1. Clinton left Bush a surplus budget, Bush spent them all and had a $5 trillion deficit in eight years.
2. Obama had a huge debt in 3 years and seems will have more because he succeeds big economic problem from Bush, the housing bubble, the war, tax cut bill, financial problem are still hurting this country. The money he spends are all used to repair the dent Bush had made.

B- man damaged the house. O-man is rebuilding the house. It costs a lot to rebuild a house. B-man's accessary beat the drum accuse O-man spending more money than B-man has. That's two different things. Bush spent money to damage. Obama spend money to rebuild. Accessary blame Obama on a mess Bush created. That's not a way of gentleman. That's a way of villain. Because Bush broke the window, Obama buyes a new window. Accessary accuses Obama spends too much. Of course, it doesn't cost to break a glass. But it costs to buy a new one.

So GOP people have a tradition. Here is a poll.

AP Poll: Bush #1 Villain of 2006
December 28, 2006 12:05 AM



http://cdn.crooksandliars.com/files/uploads/2006/12/ap-poll-villain.jpg



Just when you thought things couldn't get any worse for President Bush, AP comes out with a new poll.

SCARBOROUGH: Now you don't have to have a political doctorate in Political Science to realize it's never a good sign when you're outpolled by Lucifer

Good thing he doesn't follow those pesky polls...

http://crooksandliars.com/2006/12/28/ap-poll-bush-1-villain-of-2006

 

[PostmodernProphet]

That's the result to repair the damage Bush has made.

then it sure sucks that things are worse now than when Obama got elected....

 

[katsung47]

It seems you have a bad memory, or you deliberately neglect it. Housing bubble is still hurting this country and will continue. Many loans were 5/1 arm or option arm. After five years, the homeowner found they face a new bill they couldn't afford. So there will be more foreclosure to come. Here I repeat the fomer reference.

Fannie Mae Posts $8.7 Billion Loss, Requests More Fed Aid

WASHINGTON -- Mortgage buyer Fannie Mae reported a loss of $8.7 billion for the January-March quarter, and asked for an additional $8.5 billion in federal aid.

http://www.huffingtonpost.com/2011/0..._n_858812.html

Fannie Mae, Freddie Mac Seek $3.1 Billion Amid Improved Earnings
QBy Lorraine Woellert - Feb 24, 2011 9:01 PM PT

http://www.bloomberg.com/news/2011-0...-earnings.html

Fannie Mae needs another $5.1 billion in aid as more loans sour
.Date: Friday, August 5, 2011,

http://www.bizjournals.com/washingto...1-billion.html

Bank Of America To Cut 30,000 Jobs As Part Of Restructuring Plan

9/12/11Bank of America stock was up 2 cents at $7 at midday. The stock has lost half its value this year, largely over problems related to poorly-written mortgages it acquired with its 2008 purchase of Countrywide Financial Corp. The bank faces lawsuits from investors and regulators over the sales of mortgage-backed securities that lost value after the housing boom collapsed.

http://www.huffingtonpost.com/2011/09/12/bank-of-america-to-cut-30_n_958432.html

That's all the legacy Bush left. Time bomb explode later. You blame Obama?

 

[Vader]

:lol:

Bush has been gone for 3 years, your party had control of both the house & senate and could have pulled everyone out like Obama had promised during his campaign, yet we are still their and you want to blame Bush???

If not for Bush and Darth Cheney, we would never have been over there in the first place. Bush is to blame. Accept it and MOVE ON.

 

[katsung47]

Bush increased the national debt not only with his “Tax cut law”, but also with his two Mid-east wars. The war cost is another heavy burden to the US tax payers.

U.S. cost of war at least $3.7 trillion and counting

By Daniel Trotta
NEW YORK | Wed Jun 29, 2011
Reuters) - When President Barack Obama cited cost as a reason to bring troops home from Afghanistan, he referred to a $1 trillion (622 billion pounds) price tag for America's wars.
Staggering as it is, that figure grossly underestimates the total cost of wars in Iraq, Afghanistan and Pakistan to the U.S. Treasury and ignores more imposing costs yet to come, according to a study released on Wednesday.

The final bill will run at least $3.7 trillion and could reach as high as $4.4 trillion, according to the research project "Costs of War" by Brown University's Watson Institute for International Studies. (www.costsofwar.org)

http://uk.reuters.com/article/2011/06/29/uk-usa-war-idUKTRE75S76R20110629