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Obama Wrong: Housing, Not Tax,
Policy Caused Recession

Investor´s Business Daily, by Paul Sperry

Original Article

Posted By:HollowLeg, 12/4/2012 8:29:07 PM

President Obama argues Republicans want to go back to pre-recession policies of cutting "taxes for the folks at the very top" and rolling back "regulations on big banks."He warned: "We tried that top-down approach. It´s what caused the mess in the first place." Did it, though? Most economists agree the recession was caused by the subprime mortgage crisis, which had little if anything to do with tax policies. In fact, real economic growth accelerated after 2003, when the Bush tax cuts for top earners and small businesses fully went into effect.

      


Post Reply  

Reply 1 - Posted by: golden, 12/4/2012 8:40:27 PM     (No. 9048823)

This is like being logical with a liberal. It just can´t happen. Facts always get in the way..


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Reply 2 - Posted by: strike3, 12/4/2012 8:53:00 PM     (No. 9048834)

Yeah, but you can´t buy more votes unless you take more money from the wage earners and give it to the parasites. And you can´t be a proper dictator unless you take control of everything.

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R-G1
  
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Reply 3 - Posted by: Pearson365, 12/4/2012 8:58:56 PM     (No. 9048845)

Obama is one of the dumbest president this country has had. If it wasn´t for a fawning press, he would have been revealed as a sociopath in late 2007. Sadly, if his delusions, lack of depth, narcissism and incredibly dishonest behavior had derailed him, the female version of Obama would have swept McCain away in the general elecrion of 2008. Hilary would be now be preparing for a second term, having defeated yet another unfocused and out of touch RINO.


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Reply 4 - Posted by: BaseballFan, 12/4/2012 9:06:36 PM     (No. 9048859)

America needs you, Ronald Reagan
Ronny could you please come home?
Things are looking bad
I know you would be mad
To see your favorite men
Prevail upon the land you love

America´s wondering - how we got here
Ronny all we get is lies!
We´re gettin´ safer cars, rocket ships to mars
From men who´d sell us out
To get themselves a piece of power.

(Paraphrased from "Harry Truman", with apologies and thanks to Robert Lamm)

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Reply 5 - Posted by: JAN, 12/4/2012 9:10:54 PM     (No. 9048865)

If only there were no houses not a single person would have ´lost´ their home to foreclosure.

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Reply 6 - Posted by: Axeman, 12/4/2012 9:33:19 PM     (No. 9048901)

Too late. Once Zipp0 says something it becomes the new truth. Like the dumb globalony accelerating comment.

I wonder what would happen to the economy if everyone had to pay a flat 10% on everything for the next 4 years.

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Reply 7 - Posted by: Charactercounts, 12/4/2012 9:39:14 PM     (No. 9048913)

I was astonished to hear Art Laffer, of the Reagan Administration, say on Fox Business that he voted twice for Clinton, because he was "a good president."

Clinton´s fingerprints are all over the housing mess, along with Andrew Cuomo, Reno, Holder, et al.

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Reply 8 - Posted by: LadyVet, 12/4/2012 11:30:06 PM     (No. 9049079)

The article was good, but still it ignored Obama´s own role in the housing debacle that caused the recession. He was the lawyer of record for the group that sued Bank of America. After getting their way with one bank they kept up the agitation with other banks. Socialist groups that Obama was associated with in Chicago worked with Cuomo to get the changes to policies with accelerated the problem and institutionalized it with federal regulations. Obama needs to point the finger back at himself and quit blaming George W.

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Reply 9 - Posted by: ColonialAmerican1623, 12/5/2012 12:30:49 AM     (No. 9049158)

If Zippy had given the stimulus money to citizens instead of those that supported him in 2008, the economy would have been stimulated.

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Reply 10 - Posted by: Trigger2, 12/5/2012 4:01:21 AM     (No. 9049251)

If you follow the sub-prime mortgage crisis, you´ll find demonrats at the end.

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