Entitlement problem

[LilOlLady]

ENTITLEMENT PROBLEM

Entitlements did not cause the 2008 financial crisis that led to the recession. The 2008 financial crisis caused by Bush’s spending an inherited $5.6 trillion surplus, borrowing, two wars, tax cuts for the rich, Medicare drug program and jobs leaving the country caused entitlement programs to grow. Leaving office with a $11 plus trillion debt. This cause people to flood entitlement programs that 15 million unemployed were not replenishing fast enough. Reminder; cause by the Bush administration, supported by a GOP congress.

During the depression soup lines and poor farms were created and cutting these programs that was created by the depression would not have got us out of the depression. Neither will cutting entitlements now. Government spending, putting people back to work creating revenue got us out of the depression and it will get us out of the recession. The New Deal presented by Franklin D. Roosevelt helped give Americans jobs. WPA. We could always start another world war and sell supplies to our allies to fight the war that help get us out of the depression?

Obama need to get off his ass and put money in infrastructure building and rebuilding and get us the hell out of this recession and get people off entitlements. Reminder; caused by the Bush administration, supported by a GOP congress.

Most of Obama’s $5 trillion spending since the took office has been to fix what Bush broke during this 8 year reign of terror.

Entitlement spending did not get us into the recession and cutting entitlement spending will not get us out of the recession.

Remember; who cause government entitlement programs to grow in the first place?

Mr. Bush’s Improbable Budget
http://www.nytimes.com/2007/02/08/opinion/08thur1.html?_r=0

 

[PratchettFan]

The financial crisis was not caused by Bush. It was caused by the same thing which caused the Great Depression. The people of the United States kept extending themselves further and further, using money which was mostly mythical, until the whole thing collapsed under its own weight.

 

[OriginalShroom]

I have to wonder if the OP understands that Obama has the treasury printing $85B a month to prop up the Stock Market?

 

[Truthmatters]

can we end the oil subsidies?

that is an entitlement I really dont approve of

 

[editec]

The financial crisis was not caused by Bush. It was caused by the same thing which caused the Great Depression. The people of the United States kept extending themselves further and further, using money which was mostly mythical, until the whole thing collapsed under its own weight.

Yup.

My only objection to that thumbnail explaination for the 2007-2008 meltdown in WHO you blamed it on.

You blamed the " The people of the United States".

You didn't blame the BANKS that worked so damned hard to make it all possible.

You didn't blame Greenspan (Randian devotee)who kept the cost of money so artifically low, and who worked so hard to giver the banks liberty to create LIARS LOANS.

Aside from the WHO IS RESPONSIBLE? part, you are absolutely right.

 

[Truthmatters]

Energy subsidies - Wikipedia, the free encyclopedia

 

[Truthmatters]

The financial crisis was not caused by Bush. It was caused by the same thing which caused the Great Depression. The people of the United States kept extending themselves further and further, using money which was mostly mythical, until the whole thing collapsed under its own weight.

somebody doesnt know much about economics and or history

 

[Dutch]

The financial crisis was not caused by Bush. It was caused by the same thing which caused the Great Depression. The people of the United States kept extending themselves further and further, using money which was mostly mythical, until the whole thing collapsed under its own weight.

Replace "people of the United States" with financial institutions and the above statement is getting closer to the truth.

 

[Claudette]

Also ad in a bunch of Congressmen spending like money grows on a tree.

The meltdown was decades in the making and both parties are culpable along with theives in the banking, lending and investing groups and citizens living above their means.

It was a colaborative effort by all of the above

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

Not one person has ever explained to me WHY the Bush SEC held back the broker rules in GLBact for 8 long years.

The very years this economic mess was built.

Bush annouced the ecnomic crash about a week beofre the Broker rules were reImpemented.

funny that

 

[Nova78]

ENTITLEMENT PROBLEM

ENTITLEMENT problem - too many lazy dirt bags with there palm up.......

[ame=http://www.youtube.com/watch?v=tpAOwJvTOio&feature=player_detailpage]Original Obamaphone Lady: Obama Voter Says Vote for Obama because he gives a free Phone - YouTube[/ame]

 

[ba1614]

ENTITLEMENT PROBLEM

ENTITLEMENT problem - too many lazy dirt bags with there palm up.......

Original Obamaphone Lady: Obama Voter Says Vote for Obama because he gives a free Phone - YouTube

There's a video of her being interviewed by Alex Jones about her now being unemployed and upset that she campaigned for obummer lol

 

[KnobbyWalsh]

ENTITLEMENT PROBLEM

ENTITLEMENT problem - too many lazy dirt bags with there palm up.......

Original Obamaphone Lady: Obama Voter Says Vote for Obama because he gives a free Phone - YouTube

We have those, but they are not a drain on the system like Corporate Welfare is. But no one ever wants to talk about that.

 

[LilOlLady]

The financial crisis was not caused by Bush. It was caused by the same thing which caused the Great Depression. The people of the United States kept extending themselves further and further, using money which was mostly mythical, until the whole thing collapsed under its own weight.

Yeah, right. and the two wars, medicare drug program, tax cuts for the rich and loop holes that allow million of jobs to go overseas, a surplus of $5 trillion and $5 trillion debt and Bush's 8 years of fucking up the nation economy was a figment of imagination?

No to even mention the financial crisis he and his cronies caused.

 

[PratchettFan]

The financial crisis was not caused by Bush. It was caused by the same thing which caused the Great Depression. The people of the United States kept extending themselves further and further, using money which was mostly mythical, until the whole thing collapsed under its own weight.

Yup.

My only objection to that thumbnail explaination for the 2007-2008 meltdown in WHO you blamed it on.

You blamed the " The people of the United States".

You didn't blame the BANKS that worked so damned hard to make it all possible.

You didn't blame Greenspan (Randian devotee)who kept the cost of money so artifically low, and who worked so hard to giver the banks liberty to create LIARS LOANS.

Aside from the WHO IS RESPONSIBLE? part, you are absolutely right.

The banks are the people. They were people loaning money to people who did not have to take the loans. There is no one part of our society which drives the rest. It is all interconnected and it is all people. I'm not even blaming anyone, I am just saying what I think the cause was.

 

[LilOlLady]

Tax cuts alone was responsible for the recesson. Temporary tax cuts was a good thing but it continued with Obama extending it leading to loss of revenue and that was the bad part. Tax revenue is a necessary evil to run the country effectively. Time has resulted into a bigger governement with more revenue needed to run it. Tax collecting created in bibical time was necessary to run the government than and needed now.

 

[LilOlLady]

Lack regulations on banks let to the banking crisis.

 

[PratchettFan]

The financial crisis was not caused by Bush. It was caused by the same thing which caused the Great Depression. The people of the United States kept extending themselves further and further, using money which was mostly mythical, until the whole thing collapsed under its own weight.

Replace "people of the United States" with financial institutions and the above statement is getting closer to the truth.

Uh huh. I notice that regardless who someone thinks is the bad guy in any given situation, it is always "the other guy." "Not my fault. No way I have any responsibility." Sorry, we all have a piece of the action.

 

[Truthmatters]

why did the Bush admin feel they needed to keep the banks Broker rules from taking effect?


Why did they hold them back for 8 long years?

So banks could hire and train anyone they wanted any way they wanted to be a broker.

That way they would SELL the tainted securities they shoved the subprime into.

No broker rules means the brokers ONLY answered to their employer and NOT any Regulator.


If they could not have made MONEY on the tainted subprime they never would have created them all.

 

[Truthmatters]

The republican party owns this crash by way of purposeful deregulation.


They gamed the laws of our country to do it.

They merely changed a bill so that it was what they wanted instead of what the people WROTE and passed it to do.