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That's insane thinking. The problem didn't begin in 2007 when Democrats took over. By then, it was too late. The housing bubble began its descent in 2006. Oversight was needed years earlier. Republicans were in charge. Republicans get the blame.With all due respect, you're fucking nuts. YOU post a video of Barney Frank from 2003, and when I point out that he was but one member of the minority party (which he was in 2003), you shift to 2007 -- when as a member of the majority party, Barney Frank got a bill passed in the House to add some of the oversight we needed Republicans to pass years earlier. By 2007, it was too late, the housing market had already begun its descent that would lead to its ultimate demise.
With all due respect, Faun...George W. Bush was cautioning that the way we were running Fannie Mae and Freddie Mac we were setting ourselves up for a major disaster and it was Barney Frank who pooh poohed that idea, repeatedly accusing Bush of exaggerating the potential problem. Bush sought tighter regulations and both Democrats AND Republicans resisted because giving people liar loans backed up by Federal loan guarantees was so politically popular.
Now here's my question for you.
Do you think Barack Obama would have had the courage to seek those politically unpopular but obviously needed reforms to Fannie and Freddie? Quite frankly he's never demonstrated that to me. I think he would have let the "game" that they were playing at Fannie and Freddie to continue along like usual.
This is the problem with "faun's" thinking. Bush repeatedly WARNED the democrats that trouble was looming. The Democrats IGNORED the warning. Alan Greenspan WARNED of impending disaster. The Democrats IGNORED the warning. Every time the republicans attempted to tighten regulations that would slow Barney Frank down, they were shot down at every turn. EVERY TIME. From 2002 through 2008.
There was no political will from EITHER side, to reign in FANNIE and FREDDIE. The republicans never had the votes to do a damn thing to stop the impending doom. It was just a matter of time until the whole thing came crashing down - which it did.
Bush takes the "lion's share" of the responsibility for not doing more. The democrats (who again, were in control of BOTH Houses) share the rest. Funny, however, that they have never accepted ANY of the blame for putting this country in it's current condition. NONE of the blame and, the mainstream media has conveniently "forgotten" about that fool Barney Frank.
Senator Barry Obama was seldom ever seen or heard from in those days. He was busy planning his "fundamental transformation" of the United States.
Holy shit! Again, when Barney Frank chaired that committee, it was 2007 and he pushed a bill that passed in the House to add oversight. Why do yo keep ignoring that? Before then, he was just another member of the minority party. And why do you keep pretending like Democrats are to blame because the ticking timebomb they took from Republicans blew up on their watch? The problem began nearly a decade earlier when Clinton was president. He was part of the problem too for signing the Gramm-Leach-Bliley Act.I can't help that you are so paranoid, you think Obama can can have numbers fudged at the Bureau of Economic Analysis. Nor was it immediately, but about a month later, which is about when the BEA typically releases their 2nd report on the previous quarter's GDP.Indeed, when the White House heard of the Q4 GDP figures, the BEA was ordered to "re-work" the figures and nearly IMMEDIATELY, they came up with "revised" figures.
The fact of the matter is, after nearly every quarter following their initial report, the BEA revises their numbers as more data becomes available. This is nothing unusual and neither Obama, nor any president, has has that kind of influence over the BEA that they can get the BEA to revise the GDP numbers upwards.
I'd appreciate it if you would read my posts for clarity. At the very least, don't add erroneous conclusions that I DO NOT make and then ascribe them to me.
I said the growth was "nominal." But growth it was. That other poster [wrongly] claimed GDP was negative last quarter.
Sure, Barney Frank was wrong at that time. Dead wrong. But Barney Frank was but one member of the minority party and could not prevent Republicans, who controlled the Congress, from passing the much needed oversight that could have prevented the economic meltdown. I posted 2 bills, one in 2003 and the other in 2005, which could have averted the disaster. Was Frank wrong for being against them? Yes. But he couldn't stop them. It was Republicans who let those bills die in the Senate. It doesn't matter if Frank was right or wrong; Conservatives used him as a scape goat rather than accept that the Republican party fucked up royally.As to Barney Frank. Of course he began calling for "oversight". That piece of human excrement was doing anything he could think of in an attempt to deflect his direct involvement in the housing crash of the early 2000s by insisting that the Fed carry paper that was worthless. I give you:
Democrats were WARNED of Financial crisis and did NOTHING - YouTube
Now you can blame Bush all you like (and I'm sure you will). But how about laying just a "little" of the blame on that worthless piece of human excrement that you communists call "Barney Frank"?? Are you guys men and women enough to do that??
Good Lord.....
So, Congress wasn't controlled by Democrats the last 2 years of Bushs' term? You know - When the doo doo hit the damn fan?? And they had been warned REPEATEDLY, OVER AND OVER that this was coming!?!?! With Barney Frank at the helm of the committee that PUSHED for these LOANS!?!?! Are you seriously kidding me!?!?!?
My God in Heaven - Yeats was, indeed correct!!! Liars write history.....
Obama's only going to be in office for 4 more years, so what are you saying? That even if a Republican wins the presidency in 2016, Obama's responsible for the debt for an additional 6 years?Via Politico:
The Congressional Budget Office said Friday that President Barack Obamas tax and spending policies will yield $6.4 trillion in deficits over the next decade, more than double the shortfall in CBOs own fiscal baseline even after taking credit for reduced war costs.
House Republicans, slated to unveil their own plan next week, are sure to seize on the numbers, yet the mountain of data gives reason for both parties to pause going into whats expected to be a major fiscal crisis after the November elections.
The federal debt held by the public would still nearly double again from $10.1 trillion at the end of 2011 to $18.8 trillion at the end of 2022. For the current fiscal year ending Sept. 30, CBO is now projecting a shortfall of $1.3 trillion. In fiscal 2013, the deficit will still hover near the $1 trillion mark about $977 billion. And while it will fall to 2.5 percent of GDP by 2017, it then begins to grow again to 3 percent of GDP by 2022.
To be sure, CBOs baseline isnt perfect as a standard against which to measure fiscal decisions.
The nonpartisan office is bound by rules that require it to assume that all of the Bush-era tax cuts will end in December, for example. At the same time, it must build-in spending assumptions that major health programs like Medicare and Medicaid continue to grow unchecked.
[Excerpt]
Read more:
CBO: Exploding debt under Obama policies - David Rogers - POLITICO.com
I love the way the liberals, when faced with the truth, bring out their little charts and graphs (no doubt from some propaganda site) to bolster the defense of their boy.
This site in particular, is the worst I have seen so far. "But LOOK!!! I have a chart!!! it MUST be true!!"
The next thing we will hear from these Kool aid drinkers is that the United States is in the best shape that it has EVER been in.......
Oh please. Give me a break. Republicans think Iraq was a "success" and still insist they had WMD's. Give it up.
OK then - how many times have folks, like yourself, watched THIS video and claimed that it was all "lies"???
[ame=http://www.youtube.com/watch?v=4puS-yjwsiE]"Words Matter" Obama Lies Documented (in his own words) - YouTube[/ame]
You present charts - I present that boy, himself, in his own words, lying his butt off and still you liberals will NOT acknowledge that he is a liar.
Oh please. Give me a break. Republicans think Iraq was a "success" and still insist they had WMD's. Give it up.
OK then - how many times have folks, like yourself, watched THIS video and claimed that it was all "lies"???
[ame=http://www.youtube.com/watch?v=4puS-yjwsiE]"Words Matter" Obama Lies Documented (in his own words) - YouTube[/ame]
You present charts - I present that boy, himself, in his own words, lying his butt off and still you liberals will NOT acknowledge that he is a liar.
I just don't get it. Watch the video. So many out of context clips. Who knows what is really being said? And the thing on health care? Why does the right protect health care companies? They are middle men. The exist only to skim money off insurance policies. The don't employ any doctors or nurses or own any hospitals. They ONLY SKIM MONEY OFF POLICIES! That's it. And yet Republicans defend them, EVEN REPUBLICANS WITHOUT HEALTH CARE defend those companies.
I just don't get it.
Holy shit! Again, when Barney Frank chaired that committee, it was 2007 and he pushed a bill that passed in the House to add oversight. Why do yo keep ignoring that? Before then, he was just another member of the minority party. And why do you keep pretending like Democrats are to blame because the ticking timebomb they took from Republicans blew up on their watch? The problem began nearly a decade earlier when Clinton was president. He was part of the problem too for signing the Gramm-Leach-Bliley Act.I can't help that you are so paranoid, you think Obama can can have numbers fudged at the Bureau of Economic Analysis. Nor was it immediately, but about a month later, which is about when the BEA typically releases their 2nd report on the previous quarter's GDP.
The fact of the matter is, after nearly every quarter following their initial report, the BEA revises their numbers as more data becomes available. This is nothing unusual and neither Obama, nor any president, has has that kind of influence over the BEA that they can get the BEA to revise the GDP numbers upwards.
I'd appreciate it if you would read my posts for clarity. At the very least, don't add erroneous conclusions that I DO NOT make and then ascribe them to me.
I said the growth was "nominal." But growth it was. That other poster [wrongly] claimed GDP was negative last quarter.
Sure, Barney Frank was wrong at that time. Dead wrong. But Barney Frank was but one member of the minority party and could not prevent Republicans, who controlled the Congress, from passing the much needed oversight that could have prevented the economic meltdown. I posted 2 bills, one in 2003 and the other in 2005, which could have averted the disaster. Was Frank wrong for being against them? Yes. But he couldn't stop them. It was Republicans who let those bills die in the Senate. It doesn't matter if Frank was right or wrong; Conservatives used him as a scape goat rather than accept that the Republican party fucked up royally.
Good Lord.....
So, Congress wasn't controlled by Democrats the last 2 years of Bushs' term? You know - When the doo doo hit the damn fan?? And they had been warned REPEATEDLY, OVER AND OVER that this was coming!?!?! With Barney Frank at the helm of the committee that PUSHED for these LOANS!?!?! Are you seriously kidding me!?!?!?
My God in Heaven - Yeats was, indeed correct!!! Liars write history.....
Again ... I already conceded that in the mid 2000's, Barney Frank (and most other Democrats) were dead wrong on this.Holy shit! Again, when Barney Frank chaired that committee, it was 2007 and he pushed a bill that passed in the House to add oversight. Why do yo keep ignoring that? Before then, he was just another member of the minority party. And why do you keep pretending like Democrats are to blame because the ticking timebomb they took from Republicans blew up on their watch? The problem began nearly a decade earlier when Clinton was president. He was part of the problem too for signing the Gramm-Leach-Bliley Act.Good Lord.....
So, Congress wasn't controlled by Democrats the last 2 years of Bushs' term? You know - When the doo doo hit the damn fan?? And they had been warned REPEATEDLY, OVER AND OVER that this was coming!?!?! With Barney Frank at the helm of the committee that PUSHED for these LOANS!?!?! Are you seriously kidding me!?!?!?
My God in Heaven - Yeats was, indeed correct!!! Liars write history.....
This is what I have been saying all along. This problem started in the EARLY 2000s. However, by the MIDDLE 2000s, EVERYONE IN THE COUNTRY knew that it was just a matter of time until the "bubble burst". Bush knew about it. Chaney knew about it. Sharpton knew about it. Frank knew about it. Dodd knew about it. Shumur knew about it. Pelosi knew about it. McCain knew about it. Every asshole in Washington DC KNEW ABOUT IT!!! EVERY SINGLE ONE. Every person on Wall Street KNEW about it. Every Bank in the United States KNEW about it. The news media knew about it. Any American that follows the news knew about it. Bush was warning of a coming crisis as early as 2002.
BARNEY FRANK WAS CHAIRMAN OF THE FINANCE COMMITTEE IN 2007 AND SAID "FANNIE AND FREDDIE ARE FINE. THERE IS NO CRISIS AT THESE INSTITUTIONS". Oversight my ass.
Yet today - the left blames the right and the right blames the left. Barry claims that he "inherited" this mess when, in reality, he was a sitting Senator in the United States Senate and he voted PRESENT on the vast amount of bills presented in the Senate. He was too busy being "groomed" for the office that would be handed to him.
Yeah, sure ...Barry didn't "inherit" a damn thing. The AMERICAN PEOPLE inherited the mess that the clowns that we send to represent us made. Barry has "dined out" for the last 5 years on his cute little saying "I inherited the greatest recession since the great depression" - and it's getting damned old.
Barry has been in office for nearly 5 years and the ONLY thing he has accomplished in that time is to blame anyone and everyone except himself.
Again ... I already conceded that in the mid 2000's, Barney Frank (and most other Democrats) were dead wrong on this.Holy shit! Again, when Barney Frank chaired that committee, it was 2007 and he pushed a bill that passed in the House to add oversight. Why do yo keep ignoring that? Before then, he was just another member of the minority party. And why do you keep pretending like Democrats are to blame because the ticking timebomb they took from Republicans blew up on their watch? The problem began nearly a decade earlier when Clinton was president. He was part of the problem too for signing the Gramm-Leach-Bliley Act.
This is what I have been saying all along. This problem started in the EARLY 2000s. However, by the MIDDLE 2000s, EVERYONE IN THE COUNTRY knew that it was just a matter of time until the "bubble burst". Bush knew about it. Chaney knew about it. Sharpton knew about it. Frank knew about it. Dodd knew about it. Shumur knew about it. Pelosi knew about it. McCain knew about it. Every asshole in Washington DC KNEW ABOUT IT!!! EVERY SINGLE ONE. Every person on Wall Street KNEW about it. Every Bank in the United States KNEW about it. The news media knew about it. Any American that follows the news knew about it. Bush was warning of a coming crisis as early as 2002.
BARNEY FRANK WAS CHAIRMAN OF THE FINANCE COMMITTEE IN 2007 AND SAID "FANNIE AND FREDDIE ARE FINE. THERE IS NO CRISIS AT THESE INSTITUTIONS". Oversight my ass.
Yet today - the left blames the right and the right blames the left. Barry claims that he "inherited" this mess when, in reality, he was a sitting Senator in the United States Senate and he voted PRESENT on the vast amount of bills presented in the Senate. He was too busy being "groomed" for the office that would be handed to him.
The part you can't figure out is that Republicans were in charge of the Congress at that time. That's why they get the blame and not Barney Frank, even though he was wrong. He was but one member of the minority party; whereas, Republicans controlled the both chambers of Congress.
They had two bills in the Senate. S.1508 (2003) & S.190 (2005) -- Notice the years -- Republicans controlled the Congress -- not Barney Frank. By the time Barney Frank was a member of the majority party in 2007, the damage to the housing markets was done. The time to prevent the meltdown had passed. Even so, Barney Frank still pushed a bill through the House (H.R.1427: Federal Housing Finance Reform Act of 2007). Though it died in the Democrat-led Senate, it was picked up in another bill (H.R.3221: Housing and Economic Recovery Act of 2008), passed, and signed into law by President Bush.
Do ya get it??? YOU pointed out how Bush was pleading Congress in 2002 to give him a bill to sign to prevent the economic disaster -- he didn't get one until 2008 and a portion of it came from Barney Frank. But until 2007 when Dems took over, Republicans didn't get a bill to Bush's desk.
Yeah, sure ...Barry didn't "inherit" a damn thing. The AMERICAN PEOPLE inherited the mess that the clowns that we send to represent us made. Barry has "dined out" for the last 5 years on his cute little saying "I inherited the greatest recession since the great depression" - and it's getting damned old.
Barry has been in office for nearly 5 years and the ONLY thing he has accomplished in that time is to blame anyone and everyone except himself.
Maddow blog graph.. this idiot lost all credibility
Maddow blog graph.. this idiot lost all credibility
Since you think the data in that graph is wrong, you post the BLS numbers on job growth so we can compare. G'head, let's see you show that chart is wrong.Maddow blog graph.. this idiot lost all credibility
Yeah...sorry, I didn't see the reference in the graph. That just lost any credibility it "might" have had with me. The Left is very good at producing nonsense charts and graphs as if they are bolstering their "position". They are not.
I don't trust them from the "get-go". I don't give a hoot-in-hell how many communist graphs and charts they present. They are still liars.
I recently had my Grand Daughter come home and tell me that her "teacher" told the class (history) that the US DESERVED to be attacked at Pearl Harbor. When I left the school the next day, the "teacher" had been suspended for a week without pay and will be reassigned to another class.
This communist crap isn't happening on MY watch.
In regards, to the recession? Very little, if anything. The damage to the housing markets and credit markets, which is what caused the recession, was already done. What was needed to have a chance at staving off a recession was oversight of the GSE's. You even pointed out that Bush was asking for that as early as 2002. Republicans wouldn't give that to him. It was Democrats, led by Barney Frank in 2007 (whom you tried to blame), who gave that to Bush to sign.Again ... I already conceded that in the mid 2000's, Barney Frank (and most other Democrats) were dead wrong on this.This is what I have been saying all along. This problem started in the EARLY 2000s. However, by the MIDDLE 2000s, EVERYONE IN THE COUNTRY knew that it was just a matter of time until the "bubble burst". Bush knew about it. Chaney knew about it. Sharpton knew about it. Frank knew about it. Dodd knew about it. Shumur knew about it. Pelosi knew about it. McCain knew about it. Every asshole in Washington DC KNEW ABOUT IT!!! EVERY SINGLE ONE. Every person on Wall Street KNEW about it. Every Bank in the United States KNEW about it. The news media knew about it. Any American that follows the news knew about it. Bush was warning of a coming crisis as early as 2002.
BARNEY FRANK WAS CHAIRMAN OF THE FINANCE COMMITTEE IN 2007 AND SAID "FANNIE AND FREDDIE ARE FINE. THERE IS NO CRISIS AT THESE INSTITUTIONS". Oversight my ass.
Yet today - the left blames the right and the right blames the left. Barry claims that he "inherited" this mess when, in reality, he was a sitting Senator in the United States Senate and he voted PRESENT on the vast amount of bills presented in the Senate. He was too busy being "groomed" for the office that would be handed to him.
The part you can't figure out is that Republicans were in charge of the Congress at that time. That's why they get the blame and not Barney Frank, even though he was wrong. He was but one member of the minority party; whereas, Republicans controlled the both chambers of Congress.
They had two bills in the Senate. S.1508 (2003) & S.190 (2005) -- Notice the years -- Republicans controlled the Congress -- not Barney Frank. By the time Barney Frank was a member of the majority party in 2007, the damage to the housing markets was done. The time to prevent the meltdown had passed. Even so, Barney Frank still pushed a bill through the House (H.R.1427: Federal Housing Finance Reform Act of 2007). Though it died in the Democrat-led Senate, it was picked up in another bill (H.R.3221: Housing and Economic Recovery Act of 2008), passed, and signed into law by President Bush.
Do ya get it??? YOU pointed out how Bush was pleading Congress in 2002 to give him a bill to sign to prevent the economic disaster -- he didn't get one until 2008 and a portion of it came from Barney Frank. But until 2007 when Dems took over, Republicans didn't get a bill to Bush's desk.
Yeah, sure ...Barry didn't "inherit" a damn thing. The AMERICAN PEOPLE inherited the mess that the clowns that we send to represent us made. Barry has "dined out" for the last 5 years on his cute little saying "I inherited the greatest recession since the great depression" - and it's getting damned old.
Barry has been in office for nearly 5 years and the ONLY thing he has accomplished in that time is to blame anyone and everyone except himself.
OK Master deflector....Just what responsibility do the democrats have from 2007 until right now - today?
I'm waiting.....
You have a poor memory. When bush took office, he had a surplus, meaning, he spent far more than indicated by the deficit when he left. I think it was ten trillion that he spent altogether? Check the facts before you post Stephanie. Your math is highly dishonest, and unabashedly biased.
What I find funny, is that republicans are always bitching about how liberals blame Bush, yet you are doing the same thing with Obama.
