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I like your argument Motor, but about the Clinton years, when he was President we were not in deficit. For the first time in 20 years we had a surplus in this country. So just because you said that there was a deficit when Clinton was President just tells me you are nothing but a racial biggot, and that is why you say No Obama. You don't know your facts one bit you just scramble words to make them sound pretty. Do not argue with me about the surplus in the Clinton years either because you will be dead wrong. It was your friendly republican George Bush(John McCain't Sr.) that put this country into deficit, and he was only allowed to spend so much money on warmongering because of the surplus that Clinton allowed us. You don't know squat if you don't know that.
One could argue the Clinton surplus was cause by allowing people who shouldn't have been allowed to buy home, buy homes. Clinton blackmailed banks by by not allowing the banks to buy each other out if they didn't make BAD LOANS to people who shouldn't have qualified. Now every thing is George Bush's fault, good Democratic spin. We're now paying for Clinton's mistake big time, and yes the Republican's are at fault also. Most everyone knew the BAD LOANS would go bad but it was just 250 billion. No one saw the insurance side and people betting these BAD LOANS would go bad.
- 1 Reply to Paul S
One could also argue that those people had only a minimal effect on the economy compared to the people that base their paycheck upon credit. I guarantee you that if you look at the facts, that what has ruined our economy is credit not the housing. Millions of people are being given credit, the majority of them are paying credit with credit, after a while all of these people are paying minimal to no interest rate. This is what ruined the economy folks, if no interest rate is being paid credit companies make no money and in fact lose money. If credit agencies aren't making money nobody makes money and that is all their is to it. People couldn't pay their mortgages because the majority of them were paying it with credit, when there is no credit for them to receive anymore then they get caught in debt and it just puts everyone in the loop into debt.