Why are both sides trying to take advatage of the recession, and why is no one talking about the real cause?

Question

anyone with half a brain knows that the real estate market bubble went boom... and it's still bad... and things aren't going to get much better until it recovers...

Republicans started it off by blaming it on the debt and deficit... and almost every Republican candidate says "I know how to fix the economy" and then jumps directly to talking about the debt...

and then Democrats said "yeah, that is the problem but we need to raise taxes to cover the deficit"

why can't we focus on the real problem at hand?

obama did try with his homebuyer credit... but it ended... did anyone notice that when it ended, that was about the time the economy started to struggle again?

Answer 1

Obama has said (as have most of his advisers) that he believes in the Keynesian economic theory, which says that all you need to do to make yourself prosperous is to spend more..... even if that puts you deeper into debt.



Well, that means they haven't bothered to look at the history of other governments who have tried the Keynesian model. Result. FAILURE. Not once. Not twice. Failure every time it has been tried, yet the White House liberals are still pursuing a Keynesian goal. This time there will be no question about who caused our problems.

Answer 2

Stimulus does not work...both 0bama and Bush tried that. Raising taxes in a recession obviously is not the answer either. On a macro level, spending cuts need to be made across the board, and that means both Republicans and Democrats are going to have to make sacrifices in areas they like. On a micro level, it wouldn't hurt if we got some of the credit problems under control...yes, you mentioned housing/mortgages, and I agree, but also credit card debt is causing a big problem in this country. People are living completely off of their credit cards and then defaulting on payments...then everyone loses. I am typically an anti-regulation conservative, however, this is one area where I am all about more regulation. There should be tighter restrictions on who is allowed to even have credit cards, and more restrictions on the amount of credit you can have. If you only make $8 an hour, you should not be allowed to have a card with a $25,000 limit, period, because that will be impossible to pay off. Everyone should be limited to a credit limit that is a percentage of their annual income.

Answer 3

Theres three issues:



1) One problem is home securites get traded in ultra complex markets where insurance companies, banks, and investors all try to make a profit on high risk investments.



2) People who shouldn't be getting homes in the first place, are allowed to take out loans anyway because of people trying to make money (see point 1).



3) Most humans are greedy and irresponsible with money.



This isn't over as these things continue to this day. There are still people barely putting any downpayment on 200k houses. And thats just crazy.



Back door deals by mega banks still happen once again setting up the dominos for failure.

Answer 4

Both sides always have and always will have vastly different ideologies.



R) Get government out of the way and let the private sector do what it does best (This really came to head with The Gipper)



D) Maintain an even working / living environment for all.



But, neither of these work 100%. Too much regulation tends to stifle businesses (and growth) and too little tends to screw over the little guys (cost/health/environment.. anyone else remember the Cuyahoga river on fire?) .



The answer is... as it always will be somewhere in the middle. Neither side should have complete control ever.



The tactic of my way or the highway is now starting the hurt the GOP as the Independents see which side is willing to deal and which isn't.

Answer 5

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Answer 6

I agree that is what caused the recession, but the real problem is corruption. There is no possible way to prevent corruption when the government has its hands in so many pots. I don't see either party addressing the truth, the only thing I hear them saying is S.S. and medicare are to blame, so their solution is to cut those benefits even more and tax people harder. I don't hear any political figures addressing the truth, they are only trying to take more and give less.

Answer 7

The real problem at hand is obama.

obama admits $860 Billion Stimulus Nets Only 2.4 Million Jobs which = $278,000 per job.

http://blogs.abcnews.com/politicalpunch/2011/07/-278k-per-stimulus-job-white-house-says-no.html



It all started in 1995 with Bill Clinton modifying the community reinvestment act to allow the sub-prime loan in the name of affordable housing.

http://en.wikipedia.org/wiki/Community_Reinvestment_Act



Then Democrat Senator Shummer made a speech condemning Indy Mac Bank which started an avalanche.



Senator Shummer Started Bank Collapse

http://www.businessinsider.com/2008/7/chuck-schumer-kills-mortgage-lender-indymac



Bush Called For Mortgage Reform 17 Times Since 2001

http://newsgroups.derkeiler.com/Archive/Rec/rec.bicycles.racing/2008-09/msg02668.html



McCain's Early Recognition of Fannie/Freddie Crisis

http://www.youtube.com/watch?v=63siCHvuGFg



Obama Voted 'Present' on Mortgage Reform

http://online.wsj.com/article/SB122403045717834693.html?mod=todays_us_opinion



Dems fight regulating Fannie

http://www.youtube.com/watch?v=y4A0RuXhnQA



Dems are clueless on Fannie

http://www.youtube.com/watch?v=hxMInSfanqg



2004 Dems Condone Freddie Fannie Illegal Bookkeeping

http://www.youtube.com/watch?v=9BIWolWKsO0



Dems Passed Bush Bailout

http://money.cnn.com/2008/10/03/news/economy/house_friday_bailout/index.htm?postversion=2008100309



Anyone with half a brain could post some links to verify their claims,,,,(like i did)



.

Answer 8

Obama simply repeated the process that caused the problem in the first place... people buying homes they couldn't afford.

Answer 9

The Democrats responded to the Housing crash by making it more difficult to buy a home, harder to get credit (for small businesses), and mandating expensive health care and no one can understand?

Answer 10

One things for certain, Obamanomics doesn't work PERIOD!!