The Obama Economy

[Oldstyle]

More minorities serving food at $9.00/hour = Liberal success.

Another dope who can’t refute the OP. I love it when I win here at USMB. I feel like Max Scherzer pitching against a little league team.

You "won" by posting that OP? Really? Says who? You?

Barack Obama oversaw the worst recovery from a recession in modern economic history despite spending trillions in stimulus. His passing of the ACA and push for Cap & Trade legislation prolonged the economic suffering that millions of Americans endured. His trade deals hurt American jobs. You can't name his economic policies to grow the economy for the last six years he was in office because he didn't have any! If it weren't for an energy boom created by fracking advances (which he opposed!) his economy would have been far worse than it was!

Anyone claiming that what's happening NOW is the result of Barack Obama's economic policies is a buffoon!

He also inherited the worst economy in modern history.

And what was his first legislative priority after inheriting that economy? Passing the ACA...something that hurt job creation and economic growth? What was his second priority? Passing Cap & Trade legislation...something else that would have hurt job creation and economic growth? Who does that? Millions of Americans were out of work and Barry went after a couple of progressive "wish list" goals instead of doing things to create jobs and grow the economy!

I don’t see where it hurt job growth. Perhaps you can point that out?

You mean on your chart that leaves out the beginning of the Obama administration where he had the votes to pass his agenda? On the chart that doesn't show how unemployment still increasing despite our spending nearly a trillion dollars in stimulus money?

Oh wait...you didn't think anyone would notice? LOL

 

[Oldstyle]

I notice you don't want to defend "jobs created or saved" anymore, Faun! Come on...bring out those two tired examples of someone in the Bush administration using the term as well! You know you want to!!! Do it so I can point out how ridiculous you are for equating THAT with an administration using the term as their "go to" stat in press conference after press conference!

 

[Faun]

Another dope who can’t refute the OP. I love it when I win here at USMB. I feel like Max Scherzer pitching against a little league team.

You "won" by posting that OP? Really? Says who? You?

Barack Obama oversaw the worst recovery from a recession in modern economic history despite spending trillions in stimulus. His passing of the ACA and push for Cap & Trade legislation prolonged the economic suffering that millions of Americans endured. His trade deals hurt American jobs. You can't name his economic policies to grow the economy for the last six years he was in office because he didn't have any! If it weren't for an energy boom created by fracking advances (which he opposed!) his economy would have been far worse than it was!

Anyone claiming that what's happening NOW is the result of Barack Obama's economic policies is a buffoon!

He also inherited the worst economy in modern history.

And what was his first legislative priority after inheriting that economy? Passing the ACA...something that hurt job creation and economic growth? What was his second priority? Passing Cap & Trade legislation...something else that would have hurt job creation and economic growth? Who does that? Millions of Americans were out of work and Barry went after a couple of progressive "wish list" goals instead of doing things to create jobs and grow the economy!

I don’t see where it hurt job growth. Perhaps you can point that out?

You mean on your chart that leaves out the beginning of the Obama administration where he had the votes to pass his agenda? On the chart that doesn't show how unemployment still increasing despite our spending nearly a trillion dollars in stimulus money?

Oh wait...you didn't think anyone would notice? LOL

LOLOL

You pathetic lying con tool, no, I don’t mean that. I mean show me where the ACA cost jobs. That was your claim. That is why I presented you a chart starting in 2010; which is when ACA was first signed into law.

So now that I showed you were lying again and since you avoided answering the first time, I’ll ask again.... show me where ACA hurt job growth — I don’t see it...

 

[Faun]

I notice you don't want to defend "jobs created or saved" anymore, Faun! Come on...bring out those two tired examples of someone in the Bush administration using the term as well! You know you want to!!! Do it so I can point out how ridiculous you are for equating THAT with an administration using the term as their "go to" stat in press conference after press conference!

Showing you lied again was good enough for me.

 

[Wyatt earp]

More minorities serving food at $9.00/hour = Liberal success.

Another dope who can’t refute the OP. I love it when I win here at USMB. I feel like Max Scherzer pitching against a little league team.

You "won" by posting that OP? Really? Says who? You?

Barack Obama oversaw the worst recovery from a recession in modern economic history despite spending trillions in stimulus. His passing of the ACA and push for Cap & Trade legislation prolonged the economic suffering that millions of Americans endured. His trade deals hurt American jobs. You can't name his economic policies to grow the economy for the last six years he was in office because he didn't have any! If it weren't for an energy boom created by fracking advances (which he opposed!) his economy would have been far worse than it was!

Anyone claiming that what's happening NOW is the result of Barack Obama's economic policies is a buffoon!

He also inherited the worst economy in modern history.

The recession ended in June 2009, before anything he enacted could take effect.

Great, let’s see your proof that his stimulus plan and auto bailout had no effect....

The auto Auto industry was fine it the red States, never needed to bail out GM.

 

[Oldstyle]

You "won" by posting that OP? Really? Says who? You?

Barack Obama oversaw the worst recovery from a recession in modern economic history despite spending trillions in stimulus. His passing of the ACA and push for Cap & Trade legislation prolonged the economic suffering that millions of Americans endured. His trade deals hurt American jobs. You can't name his economic policies to grow the economy for the last six years he was in office because he didn't have any! If it weren't for an energy boom created by fracking advances (which he opposed!) his economy would have been far worse than it was!

Anyone claiming that what's happening NOW is the result of Barack Obama's economic policies is a buffoon!

He also inherited the worst economy in modern history.

And what was his first legislative priority after inheriting that economy? Passing the ACA...something that hurt job creation and economic growth? What was his second priority? Passing Cap & Trade legislation...something else that would have hurt job creation and economic growth? Who does that? Millions of Americans were out of work and Barry went after a couple of progressive "wish list" goals instead of doing things to create jobs and grow the economy!

I don’t see where it hurt job growth. Perhaps you can point that out?

You mean on your chart that leaves out the beginning of the Obama administration where he had the votes to pass his agenda? On the chart that doesn't show how unemployment still increasing despite our spending nearly a trillion dollars in stimulus money?

Oh wait...you didn't think anyone would notice? LOL

LOLOL

You pathetic lying con tool, no, I don’t mean that. I mean show me where the ACA cost jobs. That was your claim. That is why I presented you a chart starting in 2010; which is when ACA was first signed into law.

So now that I showed you were lying again and since you avoided answering the first time, I’ll ask again.... show me where ACA hurt job growth — I don’t see it...

We spent nearly a trillion dollars to get THAT kind of employment growth, Faun! Only a partisan hack like yourself would see that as anything but a painfully slow recovery. The reason the recovery was so glacially slow was Barack Obama's lack of a coherent plan to grow the economy and create jobs! The fact of the matter is...if it hadn't been for the energy boom his numbers would have been historically bad.

 

[Faun]

He also inherited the worst economy in modern history.

And what was his first legislative priority after inheriting that economy? Passing the ACA...something that hurt job creation and economic growth? What was his second priority? Passing Cap & Trade legislation...something else that would have hurt job creation and economic growth? Who does that? Millions of Americans were out of work and Barry went after a couple of progressive "wish list" goals instead of doing things to create jobs and grow the economy!

I don’t see where it hurt job growth. Perhaps you can point that out?

You mean on your chart that leaves out the beginning of the Obama administration where he had the votes to pass his agenda? On the chart that doesn't show how unemployment still increasing despite our spending nearly a trillion dollars in stimulus money?

Oh wait...you didn't think anyone would notice? LOL

LOLOL

You pathetic lying con tool, no, I don’t mean that. I mean show me where the ACA cost jobs. That was your claim. That is why I presented you a chart starting in 2010; which is when ACA was first signed into law.

So now that I showed you were lying again and since you avoided answering the first time, I’ll ask again.... show me where ACA hurt job growth — I don’t see it...

We spent nearly a trillion dollars to get THAT kind of employment growth, Faun! Only a partisan hack like yourself would see that as anything but a painfully slow recovery. The reason the recovery was so glacially slow was Barack Obama's lack of a coherent plan to grow the economy and create jobs! The fact of the matter is...if it hadn't been for the energy boom his numbers would have been historically bad.

Lying con tool, let me remind you again of what you said...

”Passing the ACA...something that hurt job creation and economic growth?”​

ACA passed in early 2010. For the third time... show me where it hurt job creation....

 

[DigitalDrifter]

"Brilliant black man" lol !!

Obama had zero experience with economics. The economy had cratered, and looking at history, an upswing was going to happen regardless of Ovama's inexperience.

 

[Godboy]

Who was President when the stock market crashed and millions lost their jobs?

It was 2008. Who was President?

Are you under the impression that Bush caused the housing market crash? You fucking tard!

Of course he, and Republicans, caused it...

”Thanks to our policies, home ownership in America is at an all time high!” ~ George Bush, 2004 Republican National Convention​

Saying that caused the housing market to crash?

 

[DigitalDrifter]

It can be denied very easy. Sounds like Obama was a lazy black man, even his boss Soros has admitted Obama did not do everything Soros told him to (too darn lazy even for that).

You cannot refute the OP.

If you and your indie-rock guru understood the history of how financial markets work, you would have known that an upswing was going to happen after a steep dive. Obama did squat to make that happen.

 

[Oldstyle]

And what was his first legislative priority after inheriting that economy? Passing the ACA...something that hurt job creation and economic growth? What was his second priority? Passing Cap & Trade legislation...something else that would have hurt job creation and economic growth? Who does that? Millions of Americans were out of work and Barry went after a couple of progressive "wish list" goals instead of doing things to create jobs and grow the economy!

I don’t see where it hurt job growth. Perhaps you can point that out?

You mean on your chart that leaves out the beginning of the Obama administration where he had the votes to pass his agenda? On the chart that doesn't show how unemployment still increasing despite our spending nearly a trillion dollars in stimulus money?

Oh wait...you didn't think anyone would notice? LOL

LOLOL

You pathetic lying con tool, no, I don’t mean that. I mean show me where the ACA cost jobs. That was your claim. That is why I presented you a chart starting in 2010; which is when ACA was first signed into law.

So now that I showed you were lying again and since you avoided answering the first time, I’ll ask again.... show me where ACA hurt job growth — I don’t see it...

We spent nearly a trillion dollars to get THAT kind of employment growth, Faun! Only a partisan hack like yourself would see that as anything but a painfully slow recovery. The reason the recovery was so glacially slow was Barack Obama's lack of a coherent plan to grow the economy and create jobs! The fact of the matter is...if it hadn't been for the energy boom his numbers would have been historically bad.

Lying con tool, let me remind you again of what you said...

”Passing the ACA...something that hurt job creation and economic growth?”​

ACA passed in early 2010. For the third time... show me where it hurt job creation....

I just showed you the U.S Bureau of Labor Statistics graph for the US employment rate over the ten year period that Barack Obama was President, Faun! It's basically "flat lined" for four consecutive years and then slowly begins to grow. If you think that the Affordable Care Act wasn't part of that flat lining of the economy then you're showing your ignorance about economics.

 

[task0778]

The FACT is that if Obama's economic policies were worth a damn then Hillary Clinton would be our president today. And the Democratic Party would not have gotten their asses kicked in 2010 when they lost the House, and in 2014 when they lost the Senate. But clearly those policies were unacceptable; people were leaving the workforce in droves, as the rise in the labor participation rate shows. Consumer confidence sucked and stayed sucked until after he left office, and the number of business failures exceeded the number of startups.

Well guess what, people ain't leaving the workforce anymore, in fact they're coming back. Consumer confidence is going up and so is new business and business expansion. You don't see the American corps moving offshore like they did under Obama, and I am told that if you look at the last 4 qtrs of GDP growth you get an annual number that EXCEEDS 3%, something Obama never did. And some are saying that 3rd qtr growth is going to be 4% or better too. So you Lefties can put up all your charts and stats until the cows come home, but there's no fooling the American consumer.

 

[Oldstyle]

The FACT is that if Obama's economic policies were worth a damn then Hillary Clinton would be our president today. And the Democratic Party would not have gotten their asses kicked in 2010 when they lost the House, and in 2014 when they lost the Senate. But clearly those policies were unacceptable; people were leaving the workforce in droves, as the rise in the labor participation rate shows. Consumer confidence sucked and stayed sucked until after he left office, and the number of business failures exceeded the number of startups.

Well guess what, people ain't leaving the workforce anymore, in fact they're coming back. Consumer confidence is going up and so is new business and business expansion. You don't see the American corps moving offshore like they did under Obama, and I am told that if you look at the last 4 qtrs of GDP growth you get an annual number that EXCEEDS 3%, something Obama never did. And some are saying that 3rd qtr growth is going to be 4% or better too. So you Lefties can put up all your charts and stats until the cows come home, but there's no fooling the American consumer.

People like Faun don't use statistics to illuminate...they use them to deceive.

 

[Claudette]

The FACT is that if Obama's economic policies were worth a damn then Hillary Clinton would be our president today. And the Democratic Party would not have gotten their asses kicked in 2010 when they lost the House, and in 2014 when they lost the Senate. But clearly those policies were unacceptable; people were leaving the workforce in droves, as the rise in the labor participation rate shows. Consumer confidence sucked and stayed sucked until after he left office, and the number of business failures exceeded the number of startups.

Well guess what, people ain't leaving the workforce anymore, in fact they're coming back. Consumer confidence is going up and so is new business and business expansion. You don't see the American corps moving offshore like they did under Obama, and I am told that if you look at the last 4 qtrs of GDP growth you get an annual number that EXCEEDS 3%, something Obama never did. And some are saying that 3rd qtr growth is going to be 4% or better too. So you Lefties can put up all your charts and stats until the cows come home, but there's no fooling the American consumer.

People like Faun don't use statistics to illuminate...they use them to deceive.

Yup and he's a one sided asshole to boot.

 

[Faun]

Who was President when the stock market crashed and millions lost their jobs?

It was 2008. Who was President?

Are you under the impression that Bush caused the housing market crash? You fucking tard!

Of course he, and Republicans, caused it...

”Thanks to our policies, home ownership in America is at an all time high!” ~ George Bush, 2004 Republican National Convention​

Saying that caused the housing market to crash?

LOLOLOL

Thanks for conceding so easily without refuting a word.

Republican policies gave us the housing boom — which led to a bust. On policies like:

BUSH MINORITY HOMEOWNERSHIP PLAN RESTS HEAVILY ON FANNIE AND FREDDIE

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national down payment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority home ownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.​

 

[Faun]

I don’t see where it hurt job growth. Perhaps you can point that out?

You mean on your chart that leaves out the beginning of the Obama administration where he had the votes to pass his agenda? On the chart that doesn't show how unemployment still increasing despite our spending nearly a trillion dollars in stimulus money?

Oh wait...you didn't think anyone would notice? LOL

LOLOL

You pathetic lying con tool, no, I don’t mean that. I mean show me where the ACA cost jobs. That was your claim. That is why I presented you a chart starting in 2010; which is when ACA was first signed into law.

So now that I showed you were lying again and since you avoided answering the first time, I’ll ask again.... show me where ACA hurt job growth — I don’t see it...

We spent nearly a trillion dollars to get THAT kind of employment growth, Faun! Only a partisan hack like yourself would see that as anything but a painfully slow recovery. The reason the recovery was so glacially slow was Barack Obama's lack of a coherent plan to grow the economy and create jobs! The fact of the matter is...if it hadn't been for the energy boom his numbers would have been historically bad.

Lying con tool, let me remind you again of what you said...

”Passing the ACA...something that hurt job creation and economic growth?”​

ACA passed in early 2010. For the third time... show me where it hurt job creation....

I just showed you the U.S Bureau of Labor Statistics graph for the US employment rate over the ten year period that Barack Obama was President, Faun! It's basically "flat lined" for four consecutive years and then slowly begins to grow. If you think that the Affordable Care Act wasn't part of that flat lining of the economy then you're showing your ignorance about economics.

You can’t stop lying, can you, ya lying con tool?

That’s the employment rate, not job growth. The employment rate differs in that there are other factors influencing it; such as demographics and labor force.

... this is job growth and it was steady...

As always, you were full of shit.

 

[Godboy]

Who was President when the stock market crashed and millions lost their jobs?

It was 2008. Who was President?

Are you under the impression that Bush caused the housing market crash? You fucking tard!

Of course he, and Republicans, caused it...

”Thanks to our policies, home ownership in America is at an all time high!” ~ George Bush, 2004 Republican National Convention​

Saying that caused the housing market to crash?

LOLOLOL

Thanks for conceding so easily without refuting a word.

Republican policies gave us the housing boom — which led to a bust. On policies like:

BUSH MINORITY HOMEOWNERSHIP PLAN RESTS HEAVILY ON FANNIE AND FREDDIE

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national down payment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority home ownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.​

Why was the housing bubble predicted by economists as early as 2000?

"Although an economic bubble is difficult to identify except in hindsight, numerous economic and cultural factors led several economists (especially in late 2004 and early 2005) to argue that a housing bubble existed in the U.S.[1][27][39][40][41][42][43][44] Dean Baker identified the bubble in August 2002, thereafter repeatedly warning of its nature and depth, and the political reasons it was being ignored.[45][46] Prior to that, Robert Prechter wrote about it extensively as did Professor Shiller in his original publication of Irrational Exuberance in the year 2000."

United States housing bubble - Wikipedia

 

[Toddsterpatriot]

Who was President when the stock market crashed and millions lost their jobs?

It was 2008. Who was President?

Are you under the impression that Bush caused the housing market crash? You fucking tard!

Of course he, and Republicans, caused it...

”Thanks to our policies, home ownership in America is at an all time high!” ~ George Bush, 2004 Republican National Convention​

Saying that caused the housing market to crash?

LOLOLOL

Thanks for conceding so easily without refuting a word.

Republican policies gave us the housing boom — which led to a bust. On policies like:

BUSH MINORITY HOMEOWNERSHIP PLAN RESTS HEAVILY ON FANNIE AND FREDDIE

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national down payment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority home ownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.​

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national down payment grant fund.

In 2002, the household sector held $14.2 trillion in real estate with mortgages of about $6 trillion.
Next to that, $2.6 billion in tax credits and down payment grants is like a fart in a hurricane.
Stupidity, to be sure, but barely noticeable.

Now, $440 billion in additional (over and above the $1 trillion plus worth of crappy mortgages they already held) crappy mortgage purchases is some serious money.

Bush looked at Clinton's stupidity and took it up a notch.

 

[Faun]

Who was President when the stock market crashed and millions lost their jobs?

It was 2008. Who was President?

Are you under the impression that Bush caused the housing market crash? You fucking tard!

Of course he, and Republicans, caused it...

”Thanks to our policies, home ownership in America is at an all time high!” ~ George Bush, 2004 Republican National Convention​

Saying that caused the housing market to crash?

LOLOLOL

Thanks for conceding so easily without refuting a word.

Republican policies gave us the housing boom — which led to a bust. On policies like:

BUSH MINORITY HOMEOWNERSHIP PLAN RESTS HEAVILY ON FANNIE AND FREDDIE

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national down payment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority home ownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.​

Why was the housing bubble predicted by economists as early as 2000?

"Although an economic bubble is difficult to identify except in hindsight, numerous economic and cultural factors led several economists (especially in late 2004 and early 2005) to argue that a housing bubble existed in the U.S.[1][27][39][40][41][42][43][44] Dean Baker identified the bubble in August 2002, thereafter repeatedly warning of its nature and depth, and the political reasons it was being ignored.[45][46] Prior to that, Robert Prechter wrote about it extensively as did Professor Shiller in his original publication of Irrational Exuberance in the year 2000."

United States housing bubble - Wikipedia

Wikipedia????

What kind of moron uses Wikipedia for a source?? Anybody can put anything in there.

And imbecile, this is why.... from your “source” <snicker>, it cites, ‘Irrational Exuberance’ (2000) by Professor Shiller....

Rightard.... that book was about the dot com bubble of the 1990’s, not the housing bubble. Though Shiller would go on to write another version of Irrational Exuberance about the housing bubble — in 2005.

You’re such a fucking idiot, you actually just reinforced my position — and st the same time, exposed again what a flaming retard you are.

 

[Faun]

Who was President when the stock market crashed and millions lost their jobs?

It was 2008. Who was President?

Are you under the impression that Bush caused the housing market crash? You fucking tard!

Of course he, and Republicans, caused it...

”Thanks to our policies, home ownership in America is at an all time high!” ~ George Bush, 2004 Republican National Convention​

Saying that caused the housing market to crash?

LOLOLOL

Thanks for conceding so easily without refuting a word.

Republican policies gave us the housing boom — which led to a bust. On policies like:

BUSH MINORITY HOMEOWNERSHIP PLAN RESTS HEAVILY ON FANNIE AND FREDDIE

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national down payment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority home ownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac.

Fannie's and Freddie's commitments are the bedrock core of the President's ambitious plans--but didn't get the headlines. Fannie Mae agreed to increase its already substantial lending efforts to minority families by targeting another $260 billion of mortgage purchases to them during the next nine years. Freddie Mac agreed to buy an additional $180 billion in minority-household home loans during the same period.​

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national down payment grant fund.

In 2002, the household sector held $14.2 trillion in real estate with mortgages of about $6 trillion.
Next to that, $2.6 billion in tax credits and down payment grants is like a fart in a hurricane.
Stupidity, to be sure, but barely noticeable.

Now, $440 billion in additional (over and above the $1 trillion plus worth of crappy mortgages they already held) crappy mortgage purchases is some serious money.

Bush looked at Clinton's stupidity and took it up a notch.

LOLOL

Clinton’s policies didn’t create the housing boom Bush and Republicans did.

”Thanks to our policies, home ownership in America is at an all time high!” ~ George Bush, 2004 Republican National Convention​