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George Bush - Is He The Real Reason the U.S. Economy is in Shambles?

posted October 7, 2008 - 6:17pm
George Bush - Is He The Real Reason the U.S. Economy is in Shambles?

As the U.S. economy swirls into a tailspin, people look toward the President of the United States and the CEO's of large financial corporations to place the blame. However; if individuals could have managed their own budgets this economic downturn would never have occurred.

Fiscal responsibility begins in the household of every American. It doesn't take a rocket scientist to figure out that if a family brings in $35,000 per year net income, there is no way they can afford a $2,000 per month house payment.

Sure; the banks and mortgage companies should have picked up on such a deficit. But; any moron with a calculator could have also.

My answer to the current fiscal crisis would not be to bailout the idiots who got themselves into such a mess. This bailout will end up costing honest, prudent citizens hundreds of dollars in additional taxes. The answer lies in penalizing the fiscally incompentent; from individuals all the way up to corporate CEO's who thought they were going to march onto easy street with a worthless signed piece of paper.



Comments

Republicans ran Congress for most of Clinton's presidency

Since the Congress has the Constitutional control over the federal budget, how is it that the Executive Branch is solely to blame while Clinton was president and the Republicans controlled Congress, no one is to blame while Republicans had control over the Executive and Congress from 2001 to 2007, but now the Democrats control Congress, so they are to blame with none falling on Bush now? You can't have it both ways. Besides, the Democrats were elected to control in NOVEMBER 2006, but didn't get actual control until JANUARY 2007. We are in OCTOBER 2008. If they had control for three years, as you claim, then today would be sometime in January 2010. The truth is both sides of the aisle screwed the pooch on this one, although much of the deregulation that led to the problems on Wall Street took place with the end of Glass-Steagall in 1999 with a bill that Phill Gramm (R-Tx) sponsored with the help of John McCain in the Senate. DO YOU HAVE THE WRITE STUFF?

Penalizing is reasonable

And let the chips fall where but really are you kidding? The democrat ran congress wont even spank their own kids let alone take responsibility to reprimand anyone of their own lest they reprimand themselves. And has anyone been thinking that the democrats have been the majority in the Congress and Senate for the past three years? Look bad to look good... In the short time the democrats have been in power they have done everything they can to hurt this economy and our REAL war on terror. My personal opinion is this is a well thought out plan being executed of look bad to look good by Ms. Pelosi and crew. The big fanny mae and Clinton idea of letting the lower income wage earner have loans to buy a house is when it began. What the banks did was wrote a check that said the house was worth twenty five percent more money than it really was. In other words these demcorats and fanny mae financed houses at one hundred and twenty five percent of the houses value. Saying the house will apreciate. That started in the ninety's during Clinton's reign. This giving people what they don't deserve just teaches them not to earn it. Check out what I mean and watch this. http://www.xomba.com/why_fannie_mae_not

Simplistic and Diffuses the Real Blame

Yes, there are lots of people who mortgaged their own futures just so they could have the latest toy right now and who have lots of credit card debt for frivolous garbage. But, how many citizens set immigration policy in this country to determine how many illegal immigrants are allowed to cross the border, take American jobs, and depress the formerly living wages of American workers? How many citizens own corporations that moved factories and manufacturing jobs--American jobs--to third world countries so they didn't have to pay living wages? How many citizens wrote the current contradictory tax laws that fleece the American middle class and reward the richest 5% of American citizens, who only live here long enough to retain citizenship for tax purposes? Which American citizens took us off the gold and silver standards, which meant that our fiat paper money was tangibly worthless? Which American citizens gave financial control over our country over to a cabal of largely-foreign private banking interests, so that we no longer controlled our own destinies? Which American citizens decided that we needed to invade Afghanistan and Iraq in order to save us from people some American citizens decided we needed to spend money training and equipping in the first place? Which American citizens constantly ignore what the majority of American citizens want, despite their sworn Constitutional duty to listen to those same American citizens? I can think of 435 representatives and 100 senators in the Legislative, plus about another ten in the Executive and (at least) nine in the Judicial that deserve blame for what happened. Regardless of all lobbying efforts on the part of corporations and foreign governments, these individuals took the spirit of the Constitution and made a mockery of it. Yes, some people were over their heads as common citizens of this country, but simply calling the small fish "morons" for making small mistakes is to over-simplify and let the so-called representative government off the hook for their treasonous activities. There is only so much money to be spent by the government and it cannot be spent twice. How many trillions is it going to cost us for Bush's misadventures in the Middle East? If that money were kept in the economy (heck, if the Federal Reserve would stop running the money printing presses for one frikkin minute), then we would stop spending money that doesn't exist on things we don't need. DO YOU HAVE THE WRITE STUFF?

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