2007-12-06 15:32:20 · 12 answers · asked by Chi Guy 5 in Politics & Government ➔ Politics
Cody Newfoundland (below) I should be so lucky (feel the jealousy).
2007-12-06 15:38:36 · update #1
Yes
Bush started his Presidency with debt. By borrowing $80B from his friends Bank to give America that tax rebate.
Debt and interest payments have been the central theme of his Presidency
2007-12-06 15:35:59 · answer #1 · answered by Guerilla Liberal fighter 3 · 3⤊ 2⤋
I hate to burst your narrow minded bubble but this is nothing more than idiots who did not understand nor attempt to find out what they were signing. Blame lay squarely on their heads. Oh sure people claim that it was greedy corporations but they are only half right.
The responsibility was on the buyer. They jumped onto something that seemed, and was, too good to be true and now they suffer the consequences. We've flipped over 70 of those homes in the last 6 months and I'm looking forward to many more. I've seen families that are homeless at the auctions looking for sympathy I have absolutely none to offer.
This is one of those things that should have been left alone altogether. Since I'm a Republican and No fan of Bush I can happily say that I think he is again passing the buck. The freeze will insure that the next president will have to deal with it since there are far too many bleeding hearts in this nation that think these people should be bailed out.
2007-12-06 15:54:23 · answer #2 · answered by Anonymous · 2⤊ 0⤋
I don't think it has anything to do with Bush, but the American people. He is trying to watch out for families who were caught off guard by predatory lending. Personally I think the intention is good, but the government needs to back out and stop trying to dictate how business runs. If the loans were illegal or the people were coerced into signing the contract it would be different.
If we really want to support the economy, we should not support a bail out plan, but we should support a program to educate people about loans.
2007-12-06 16:15:43 · answer #3 · answered by moonman 6 · 1⤊ 0⤋
Not only is the bail plan even more evidence of the present administrations fondness for debt rather than growth, but also a reminder to everyone to watch your wallets in the future because the Bush bandits are on the loose.......
2007-12-06 15:40:25 · answer #4 · answered by Anonymous · 2⤊ 1⤋
Debt can create growth though. That's the whole point. Simple example: you buy a house, live there for 30 years and close out the mortgage. You can now hopefully sell the house for profit. Debt created growth, we are taking on a debt to invest in ourselves to create growth. No economy can found itself on debt, debt is a tool to create growth.
2007-12-07 01:40:16 · answer #5 · answered by Pfo 7 · 0⤊ 0⤋
No, but it is evidence of greed (the original lenders) and lack of financial sense (the debtors), now being a dredge on the economy that the government feels compelled to fix.
2007-12-06 15:37:42 · answer #6 · answered by Anonymous · 1⤊ 0⤋
in accordance to Fox information McCain is working on that on the on the spot. yet Reuters as of very final week reported that the White living house artwork stress is working for McCain on his insurance's for the economic gadget. (sorry i did not tag the object). So i could desire to assert a vote for McCain is a vote for Bush's economic gadget, Iraq and Iran insurance's.
2016-12-10 15:09:00 · answer #7 · answered by ? 4 · 0⤊ 0⤋
The Bush economy is founded on letting the energy sector run completely unchecked; Massive government contracts to military hardware manufacturers - Sustainable only by indefinite foreign military entanglements; And government giveaways like his horrible perscription drug plan (The centerpiece of which conveniently monopolized government prescription drug coverage towards mostly a few mega-pharmaceuticals). His tax cuts are popular (As tax cuts always are) but when combined with the effects of prior economic policies; They are, as you point out, a recipe for long-term disaster.
We have only begun to reap the ultimate 'benefits' of the Bush economy...
2007-12-06 15:45:50 · answer #8 · answered by ? 4 · 0⤊ 3⤋
Which bail-out plan? The sub-prime loan mess?
We have been a consumer economy for a while now.
2007-12-06 15:36:52 · answer #9 · answered by Anonymous · 1⤊ 1⤋
Sorry, but it's not the Bush economy, it's the American economy.
Ignorant consumers signing away on preposterous adjustable-rate home loans, and the stupidity of wall-street for investing heavily into high-risk subprime loans.
Everyone loses.
2007-12-06 15:39:22 · answer #10 · answered by buzzfeedbrenny 5 · 1⤊ 3⤋