moment of objectiveness / neutrality / fairness
Let me go on the record as saying – as much as I think that Barney Frank and other free spending Democrats caused more than their fair share, over the last 20 years, of this mess – this recession was going to hit no matter who won the presidency in ’08.
Tactically, I’m just thrilled that a Democratic president and congress was in place when it came time to pay the piper. They will get a large chunk of the blame, and even after the MSM does its damnedest to spin it, a lot of it will still stick to them.
If McCain (just another socialist, but one bearing the “Republican” label) had been president, and/or a Republican congress had been in place, the MSM would have worked day and night to pin 100% of the blame on that single election.
This way, at least there’s a small chance that the limited government / libertarian wing of the Republican party can emerge untarred and begin the massive government scale down that we need.
OK, that was your moment of fairness.
We now return to our regularly scheduled screeds.
February 9th, 2010 at 8:17 am
http://blogs.usatoday.com/oped/2010/01/column-the-us-is-broke-heres-why-.html
You want fair? I’ll give you fair!
February 9th, 2010 at 12:37 pm
It’s more than fitting that a Democratic president and congress was in place when it came time to pay the piper since a Democratic president and congress was in place that created policies that caused the problems.
February 9th, 2010 at 5:29 pm
Though to be more fair this recession started before anyone won the election in ’08 :)
[quote comment="231217"]It’s more than fitting that a Democratic president and congress was in place when it came time to pay the piper since a Democratic president and congress was in place that created policies that caused the problems.[/quote]
I think there’s a lot of economists would argue that. Sure the housing bubble was the thing that finally triggered the meltdown, and you could try putting that on the democrats, but the real problem was that everyone was massively over-leveraged, if the housing bubble wasn’t the trigger than something later on would be.
February 9th, 2010 at 7:13 pm
[quote comment="231222"]I think there’s a lot of economists would argue that. Sure the housing bubble was the thing that finally triggered the meltdown, and you could try putting that on the democrats, but the real problem was that everyone was massively over-leveraged, if the housing bubble wasn’t the trigger than something later on would be.[/quote]
That problem developed form the CRA changes in 93 that forced the development of reckless mortgage products and Fanny and Freddy selling grade A bad paper to the markets.. The bonus issues the left grips about today developed because of tax changes in 93 that prevented businesses from providing more than a million dollar salary to employees.
Credit Default Swaps which caused the AIG problem can be laid at the feet of both parties in congress and the white house. Government knew of the CDS risks but chose not to provide any oversight on the CDS market.
Government could have made changes that would have prevented the bubble, but they like the tax revenue from bubbles too much to provide responsible over sight.
March 7th, 2010 at 2:01 pm
This way, at least there’s a small chance that the limited government / libertarian wing of the Republican party can emerge untarred and begin the massive government scale down that we need.
What we need is something that would help the libertarian wing at the expense of the imperial wing. Unfortunately, the imperial wing does such a good job of scaring the socialists with vulgar libertarian rhetoric that the lib tendency gets the blame for everything.