Remember the days of yore when we had a budget surplus and the worst thing a Prez could do was lie about a bj? Who could have imagined how bad both could become.
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#27 ““order was only restored in L.A. when it came time for the blacks to pick up their welfare checks.””
I was in LA at the time. It actually went way down on that day and the lines were long at the welfare offices. News camera’s were all over it.
Cow Dung
Just in case you want to argue about my point and how as a percentage of GDP it was going down until Regan. Here is a chart from the 2007 GAO report.
http://tinyurl.com/4km4k3
Again you do understand the GDP part of the equation don’t you?
#23 You are wrong. CRA encouraged banks to make loans to high-risk borrowers, often minorities living in unstable neighborhoods. That has provided an opening to radical groups like ACORN (the Association of Community Organizations for Reform Now) to abuse the law by forcing banks to make hundreds of millions of dollars in “subprime” loans to often uncreditworthy poor and minority customers.
Any bank that wanted to expand or merge with another had to show it complied with CRA – and approval could be held up by a simple complaint filed by groups like ACORN.
In fact, intimidation tactics, public charges of racism and threats to use CRA to block business expansion have enabled ACORN to extract hundreds of millions of dollars in loans and contributions from America’s financial institutions.
Banks already overexposed by these shaky loans were pushed still further in the wrong direction when government-sponsored Fannie Mae and Freddie Mac began buying up their bad loans and offering them for sale on world markets.
Fannie and Freddie acted in response to Clinton administration pressure to boost homeownership rates among minorities and the poor. However compassionate the motive, the result of this systematic disregard for normal credit standards has been financial disaster.
#32 Lying J, “Just in case you want to argue about my point and how as a percentage of GDP it was going down until Regan.”
Sorry, the 1st statement you made was that the DEBT was going down, PERIOD. Not as a % of anything.
Now,
The 1st step to handling being a pathological liar is to admit that you have a problem.
If, you’ll take this 1st step I can help you…
#33 – J. Benson II
>>23 You are wrong. CRA encouraged
>>banks to make loans to high-risk
>>borrowers, often minorities
“minorities”?? You mean like Bill Cosby, or Denzel Washington?
Please quote the section of the bill where that “encouragement” is stated. I’ve read it, and it prohibits redlining. I must have missed the part where it says to give loans to people who can’t afford them.
>>However compassionate the motive,
>>the result of this systematic
>>disregard for normal credit
>>standards has been financial
>>disaster.
No. It’s the yacht-sailing, 7-home-owning, Lamborghini-driving, golden-parachuting leeches with their CDOs, their derivatives, their mortgage-backed securities, etc. that have turn a tempest in a teapot into a worldwide financial meltdown.
#37 – Paddy-O
Great. So write in Ron Paul on Nov 4. You seem to enjoy his racist diatribes.
# 29 Cow dung.
“So, the debt didn’t go down before Reagan. ”
As a percentage of GDP it did. So NO I didn’t lie I forget to put that down and with that I am 100% correct.
“GDP doesn’t change the amount of public debt. You know that right?”
LOL You really don’t understand how it works do you?
Ignore the facts and make all the ad hominem attacks you want but you ignore the facts that Republican presidents are responsible for more of the national debt the Democratic presidents are.
# 34 Cow dung.
“Sorry, the 1st statement you made was that the DEBT was going down, PERIOD. Not as a % of anything.”
Oh so you admit that it was going down as a percentage of GDP? And you still don’t know how the GDP works into the equation do you.
Yes that was my first comment and like I said a accidently left out percentage of GDP. Simple mistake. I corrected that. Thank you for you notice of it.
“The 1st step to handling being a pathological liar is to admit that you have a problem.”
You should know!
#25 Paddy
NP. I may disagree with you on a particular issue (that’s what makes life interesting) but I think the worst thing I can do to anyone is to categorize someone as a “conservative” or “liberal”. It’s so limiting.
I prefer to categorize people into “would like to drink beer with” and “would like to drink scotch with”. 😉
#36 “Oh so you admit that it was going down as a percentage of GDP? And you still don’t know how the GDP works into the equation do you.”
Sure. But, the GDP doesn’t lower the amount that the gov’t has to pay or change the $ amount of the debt. You understand that right?
# 38 Cow Dung
Now I feel sorry for you because you really don’t understand how it works and I feel like I am picking on the retarded kid.
I will try to make it as simple as possible.
If William *MADE $1,000,000 in 2007. William SPENT $500,000 in 2007. William has $450,000 in credit card debt.
Can Joe pay Williams debt?
No because Joe doesn’t have the money.
Can William pay Williams debt?
Why yes!!!!!!!!!!! and he could pay Joes debt too.
Wow isn’t it amazing how math works? Does that help you with understanding GDP?
* denotes after tax income for the sake of argument.
#39 “Wow isn’t it amazing how math works? Does that help you with understanding GDP?”
Your confusing ABILITY to pay vs. paying. GDP is not what the gov’t collects. It affects overall health.
Does that help you understand that GPD isn’t the money in the Treaury?
Now, it can help pay down the debt and increase ability to finance etc.
Understand now?
So, to recap. During the Carter years (your comparison) did the US accrue more or less national debt.?
# 40 Cow dung
“Your confusing ABILITY to pay vs. paying. GDP is not what the gov’t collects. It affects overall health. ”
You still don’t get it do you? Collects? LOL I figured you would use a word like that because of your lack of understanding.
“Does that help you understand that GPD isn’t the money in the Treaury?”
LOL You really don’t understand do you?
“Now, it can help pay down the debt and increase ability to finance etc.”
LOL Wait! Are you now saying it CAN help pay down the debt. OR do you even know what you are saying? lol
“Understand now?”
Oh I understand fine. I understand how the GDP affects debt and our ability to pay it I also understand that you have no idea what you are talking about. A few minutes on the intertubes isn’t going to give you the education you need to discuss this topic.
“So, to recap. During the Carter years (your comparison) did the US accrue more or less national debt.?”
Did it under Reagan? Did it under Bush I? Did it under Clinton? Did it under Bush II?
Which of those did we accrue more debt? Add them any way you like The Republicans added more debt to this country in the last 30 years. The worst part is when compared to the GDP they did it at a time when we could least afford it or overspent so much that even with a good GDP we still lost.
#41 ““So, to recap. During the Carter years (your comparison) did the US accrue more or less national debt.?””
You said the debt went down under Carter.
Did it?
YES or NO
Ability to pay? LOL
You sound like an idiot!!! That is what it is all about you dip shit!
If I owed $10 but only had $5 I might get my knuckles broken and get no dinner.
If I owed $10 but had $100 I can pay my debt and use the fork at dinner.
My “ABILITY” to pay make a huge difference in the outcome of my evening.
Owning money is not good but if you can afford it you don’t have a problem. Right now becuase of the out of control Republican spending we CAN’T afford it anymore.
#42 So, did the debt OWED by the US go down during the Carter Admin?
Yes, or no.
# 42 Cow dung
“#41 ““So, to recap. During the Carter years (your comparison) did the US accrue more or less national debt.?”””
Oh for christ sake let it go you fucking loser!
Since you worded it that way. I say LESS! Compared to Reagan, Bush I, or Bush II
#45 Thank you for admitting the truth. The national debt has increased EVERY year since 1961.
The last year of a decrease was 1951 from that in 1950, under Truman.
# 46 Cow Dung
Are you hearing voices again?
# 46 Cow Dung
Now you should admit that in the last 30 years the Republican Presidents have resided over the largest increase in US debt EVER.
#48
Absolutely. There wasn’t a fiscally conservative Repub President in the lot.
There actually hasn’t been a President since my birth that has exercised the power of the Veto to ensure we spend less than the gov makes without increasing taxes.
I’m all for a Line Item veto amendment.
# 49 Cow Dung
Look how long it took you to acknowledge that.
Now you need to realize that as a % of the GDP it is even worse. First you will need to understand how the GDP affects the debt and the economy.
Again I will refer to my statement about dinner. If your GDP is high borrowing is ok because you can pay it back. You have nothing to worry about. You can eat your dinner without a straw. That is what the Democrats have done.
When the Republicans do it they do it so so much or they borrow when they can’t pay it back.
It is the irresponsiblity of the Republicans that have put us in this position.
The House voting on bill now.
http://www.c-span.org/watch/cspan_rm.asp?Cat=TV&Code=CS
#50 “Look how long it took you to acknowledge that.”
That was the 1st post you asked me to agree to that statement. I guess that’s “long” for you?
# 52 Cow Dung
I brought it up in every post but you kept ignoring the fact because you wanted to argue a point that I already corrected.
On a side note. I hope all the people(Republicans) who are against this bill are prepared for the repercussions if it doesn’t pass. I don’t think they are.
Dow is down -630 right now.
It was defeated
The bill just failed in the House
Yay Nay
Dem 141 94
Rep 64 134
205 228
Say good bye to all your jobs folks