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Post by bchevy on Feb 9, 2009 21:39:53 GMT -4
He doesn't look as comfortable up there. Stumbling and searching for words to explain his stimulus...... Beating the same dead horse that got him elected.
Great questions!
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Post by kl on Feb 10, 2009 7:13:05 GMT -4
But again, this isn't of his doing, and he's doing what he can to get this economy flowing. So how's that first 700 billion dollar that Bush insisted be passed, seem to be doing? Hmmm? :-(
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Post by dej on Feb 10, 2009 12:32:07 GMT -4
I do agree this isn't of his doing, especially since he wasn't even in the Senate in 2003 when Chuck Schumer & Barney Frank successfully??? fended off Bush's attempt to put in a little oversight and regulation on Fannie Mae & Freddie Mac. Barney Frank basically accused the Bush administration of just trying to scare people (Where have I heard that before??) by conjuring "up the possibility of serious financial losses to the Treasury, which I do not see." I'd suggest he needed better glasses.
These two companies were the boulders that triggered the financial avalanche we face now, and Schumer & Frank were the guys that pushed the boulders.
The stimulus is like artificial life support. The initial trigger for the financial mess is rooted in the housing & mortgage mess and the bill does nothing to fix that, other than offering a band-aid in the form of a tax credit. When all the money is eventually spent and new programs are created for eternity, regulation and oversight of the mortgage & housing industries will STILL have to be addressed. Until that's done, even if the bill stimulates a litte life, the economy could still relapse at anytime, probably generating more calls for more "stimulus".
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