(adsbygoogle = window.adsbygoogle || []).push({});

No, you see, you don't understand. Simply because all of the democrats in Congress support Obama's legislation does not mean it is going to go through. There is a required number of votes a piece of legislation must have to pass through, meaning some republicans have to get on board in order for things to pass through.

Also, I understand that you said what he has done, and not what he is attempting to do, but it really is too early in his presidency to have done much. The beginning of a presidency, from what I know, consists of finishing up the business of the previous president. Whether it be turning things around from the previous president's decisions or simply finishing up the goals of the previous president, the first year or so seems to be devoted to things like that. Then, we get to the time where we are now, when the president begins to push his own policies forward with all his might.

You decided to use a stereotype towards him a lot of republicans did because of his middle name, "Hussein," so I felt it was appropriate to state a stereotype of a republican, being an uneducated redneck.

Wow now this is Schaffin's dream thread here. But I think he's an OK president I don't like the health care but he has done some other good stuff

people just wanted to make history and its simple as that. if people doubt this, they are as blind as a bat. open and shut case.

this man speaks the truth btw. uncle bob ftw!

[ame]https://www.youtube.com/watch?v=9GV8vFK-GWI[/ame]

I've been trying to stay out of this political debate. Most users on this site are younger. Typically younger individuals are more optimistic about Utopian society and as a result are liberal in their views. I could certainly launch into a narrative about government spending, taxes increases and the results it will have on the American economy, but we'll save that for later.

However I respectfully disagree almost 100% with the statement in bold.

Some background... The financial crisis the US is currently in is a result of a few main topics.

1) Increased consumer spending and lower savings - 70% of US GDP is services. This means that consumers pay for things which they don't want to do or are too lazy to do. Our nation no longer is a manufacturing powerhouse. Increased personal (consumer) spending and decreased savings have resulted in an over extended consumer. GDP increases over the last decade are a result of loose lending which puts more money in the pockets of consumers to spend.

2) Loose lending habits - The Clinton admin signed a bill to overturn (repeal) the Glass-Steagall Act of 1932. A summary of this act is allows for regulation of lending institutions in respect to deposits, securities and loans. This act allows controls/restricts conflict of interests with lending credit for securities by the same institution. Certain securities have unlimited loss. If the institution lends to itselfs and makes a risky investment decision it can severely impact the integrity of that institution (Lehman Brothers). The repeal of the act allowed large financial institutions to underwrite & buy mortgage backed securities and CDOs (collateralized Mortgage Obligations) which were then sold to the public. Unfortunately these mortgage backed securities included very high risk loans packaged up as "good" loans.

The Clinton Administration had a huge public push for the American Dream to include owning a home. With reduced lending requirements (de-regulation) and a policy to encourage home ownership it created the real estate bubble which was a MAJOR factor in the worst recession the US has seen since 1930s.

For those who don't understand the real estate bubble... Speculative investors and consumers pushed the prices of homes up at an extremely fast rate. Average real estate growth is 3-5% over a 20 year period. In this real estate bubble most areas were seeing 40-60% per YEAR property value increases. Consumers were purchasing ARM (Adjustable-rate-mortgage) loans which "reset" after the ARM term.

An example of a 3-1 ARM... You finance your home for 4% APR for three years and at the end of three years your rate will adjust (up or down) at a variable rate. As interest rates were at historical lows (as a result of Alan Greenspan, the FRB Chariman) it was only logical rates would INCREASE by the time the mortgage rate resets. The bulk of the resets hit the "market" in 2007.

I can continue this in more detail about rating agencies fraud with respect to CDOs as well as details of credit default swaps. The point of this is that the Clinton administration started the process allowing large finance institutions to commit serious fraud. Basically letting the fox into the hen house. There are several other issues the Clinton Administration started which consequently was the downfall of the American economy over the last 5-10 years. I agree that the Bush Administration did nothing to "correct" the mistakes Clinton made. In no way am I saying anything "pro" Bush. I'm simply disproving that Bush "mainly" at fault.

Exactly.

I also like how if you disagree/don't like Obama publicly that you are "racist"

another somewhat example of his failure. tell em uncle bob.

[ame=https://www.youtube.com/watch?v=zu4DtlZTMdU]YouTube - Socialism is a Disease...[/ame]

---------- Post added at 09:40 PM ---------- Previous post was at 09:34 PM ----------



You must login or register to view this content.

I am extremely fiscally conservative. In terms of Obama and his healthcare bill. I believe Schaffin earlier said his intentions are good... When it comes down to it we all have to pay for those intentions. I'd prefer to limit government spending across the board. If that means some people do without (myself included) then that's fine with me. Remember government spending is OUR spending. Government receives the money they spend from the American public in the form of taxes!

Schaffin also mentioned earlier raising the taxes for the rich to fund this sort of spending. I find it extremely frightening with this sort of logic. Increased taxes on the wealthy & corporations will only result in one of two things. The first, the companies will no longer be in business. Hopefully you can see the impact with this.... Employee layoffs, not providing the services they're in business for and as a result DECREASED tax revenues for the government.

The government can't "fix" all the problems with people. People need to be responsible for their own actions. When a government provides too much for the people, it collapses on itself. See Greece for a recent example. If you need or want more detail on Greece's downfall, I'm happy to provide it.

i would agree to that too. i wouldnt consider myself a conservative but would agree on their perspectives and how they view certain things.

i think u would enjoy most of his videos too.
[ame=https://www.youtube.com/watch?vi4bMsBRLsU]YouTube - Fix the Government.... That's What's Broken!!![/ame]