At the end of Bush’s term, I remember hearing it would take just under twenty years for us (and our kids) to pay back the inhabitant debt.
From what I’ve read, Obama has just been spending spending spending. How do we reduce debt by spending more money, and at this rate, how long will it take to pay back?
How we arrived at a $700 billion government economic bailout according to Mr. Obvious Lee. Changes that Pres Clinton made to the Community Reinvestment Act (CRA – google it) in 1995 got the ball rolling. Bush and McCain both tried to intervene with legislation to better monitor Fannie Mae and Freddie Mac but were shot down by the Dems (with support from Obama and Barney Frank). The CRA rules changes, during a time when many banks were merging and needed to pass the CRA assess process to do so, substantially increased the number and aggregate amount of loans to low- and moderate-income borrowers for home loans, some of which were “risky mortgages.”
It’s supposed to keep people from losing their homes so I guess it’s for those who are facing foreclosures, etc? Supposedly all of those with sub prime mortgages that have raised their payments are guaranteed a refinance to get caught up and get a lower rate? Can you get your equity out of your home at the time of refinancing?
Bush goes on TV and lies, lies, lies.
Bush drove inhabitant debt from 5.7 trillion to 10 trillion.. What is another 787 billion on top of the 10 trillion in debt? If hyperinflation was to take place, wouldn’t it have already occurred from the 4.3 trillion? 787 billion seems so insignificant compared to that.
$13 per week, are you in fact denying facts that Bush jacked up inhabitant debt?