Source: Detroit News
quote: less regulation which caused the housing meltdown and the bailout of the Banks
quote: Under Obama, we have an economy on the mend,
quote: unemployment dropping
quote: Debatable. It is stagnant. A paltry 2.3% growth is not mending. When Reagan inherited Carter's mess, his plans caused triple the growth than what his happening under Obama.
quote: More likely due to the fact that people have stopped looking for work, so the numbers are fudged making it look like, hey, less people are looking for work, so that means we have gains in employment. Kinda goes hand in hand with Obama putting more people on assistance than ever before.
quote: Do you have any links to back up your assertions?
quote: The people that got those loans couldn't afford to make the payments, defaulted on those loans, filed for bankruptcy or just walked away.
quote: When Reagan inherited Carter's mess, his plans caused triple the growth than what his happening under Obama.
quote: It worked for decades, until the Bush tax cuts had private debt growing at the rate of over 25% of GDP per year
quote: Doesn't matter. A bank is supposed to secure all its loans with adequate backing.
quote: Reagan's policies exploded private debt and used it as a crutch for growth.
quote: NOTHING will cure the economy without more demand. Not tax cuts, not debt repayment, not regulation removal, nothing. People with high income need to spend more voluntarily (fat chance of that happening) or be taxed so the spenders (either the gov't or the middle/lower classes) will do it for them. Without more demand, businesses have no reason for net hiring, investors have few new production needs to invest in, and unemployment only gets worse.
quote: People with high income need to spend more voluntarily (fat chance of that happening)