On top of the massive inflation we have already had.
Clinton is who wrecked the mortgage industry with the CRA, forcing subprime loans, as well as rescinding long-standing executive orders blocking investment houses from trading in mortgage-backed securities, members of the administration prevented from joining the industries they regulated for a minimum of three years, and then in 2007-2008, Democrats Frank and Armey put taxpayers on the hook for all the failing subprime loans they created, which was the recipe for disaster.
That's just what I expect a far-right wing extremist to say. That's been the right wing spin since the mortgage crisis happened to take pressure off of Bush Jr. Unfortunately, you swallowed the bullshit.
George Bush Jr Philosophy Stoked Mortgage Collapse of 2008
The global financial system was teetering on the edge of collapse when President Bush and his economics team huddled in the Roosevelt Room of the White House for a briefing that, in the words of one participant, "scared the hell out of everybody." For much of the Bush presidency, the White House was preoccupied by terrorism and war; on the economic front, its pressing concerns were cutting taxes and privatizing Social Security.
"We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home." -- President Bush, Oct. 15, 2002. The global financial system was teetering on the edge of collapse when President Bush and his economics team huddled in the Roosevelt Room of the White House for a briefing that, in the words of one participant, "scared the hell out of everybody." It was Sept. 18.,Lehman Brothershad just gone belly-up, overwhelmed by toxic mortgages. Bank of America had swallowed Merrill Lynchin a hastily arranged sale. Two days earlier, Mr. Bush had agreed to pump $85 billion into the failing insurance giant American International Group. The president listened as Ben S. Bernanke, chairman of the Federal Reserve, laid out the latest terrifying news: The credit markets, gripped by panic, had frozen overnight, and banks were refusing to lend money. Then his Treasury secretary, Henry M. Paulson Jr., told him that to stave off disaster, he would have to sign off on the biggest government bailout in history. Mr. Bush, according to several people in the room, paused for a single, stunned moment to take it all in. "How," he wondered aloud, "did we get here?"
Eight years after arriving in Washington vowing to spread the dream of homeownership, Mr. Bush is leaving office, as he himself said recently, "faced with the prospect of a global meltdown" with roots in the housing sector he so ardently championed. There are plenty of culprits, like lenders who peddled easy credit, consumers who took on mortgages they could not afford and Wall Street chieftains who loaded up on mortgage-backed securities without regard to the risk. But
the story of how we got here is partly one of Mr. Bush's own making, according to a review of his tenure that included interviews with dozens of current and former administration officials.