colfax_m
Diamond Member
- Nov 18, 2019
- 38,988
- 14,843
What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false