Obama Still Doesn’t Get It – The Financial Crisis Is Causing The Economic Slump.
His refusal to accept this fact is very similiar to his refusal to admit he was wrong on the Troop Surge.
Obama stated tonight that, “In four months one of us is going to inherit this mess ….. it is important to debate that issue”.
McCain believes it is more important to work to resolve this issue for the American People than to have two Senators talk about it.
You decide – is work or talk more important?
Obama claims that “Presidential Politics” came into play to derail the Plan – this is simply false – take a glance at the Videos Posted in this site – there must be at least half a dozen videos where various Republicans explained their opposition to the Plan. Republicans have said for a week that there was no agreement in sight.
Obama has not expanded on his inadequate 4 point plan. One major sticking point that killed negotiations today involved the addition of “help for home owners”. Maxine Waters, a leading House Democrat stated that “all homeowners” would have their mortgages rewritten as part of the plan. (FOX News Interview). Neil Cavuto asked the Congresswoman – do you mean all “homeowners” – She replied yes. Cavuto than asked – “Even homeowners who are not in trouble”. Response ”of course” When Cavuto asked her “how much would that cost” – she responded “I have no idea”. She ignored his question , “who will pay for it”. When FOX posts the video – it will be added to this site.
Surprisingly, Obama has no clue as to the costs either. When asked to define the “terms” used in his four point plan, he declined. He hasn’t supplied any financial cost projections either. A Harvard Lawyer who won’t define the terms he is using nor can he estimate costs. Must be a Chicago thing. (My apology to the residents of Chicago).
Lastly, the major hurdle to any plan approval – THE DEMOCRATS REFUSE TO ELIMINATE THE NINJA AND LIAR LOANS – TO REPLACE THE MORTGAGE UNDERWRITING GUIDELINES IN THE BOSTON FEDERAL RESERVE MANUAL. Video: http://www.foxnews.com/video-search/m/20997113/blame_game.htm?q=blame+game
Writing these dangerous, worthless loans, has become a part of their Party Platform. The rest of the problems being discussed - picking up the bad debt from financial institutions – regulating those institutions and capping pay – ARE MEANINGLESS IF WE DO NOT STOP HANDING OUT BAD LOANS. The proposed “fixes” address the symptoms but not the disease. The suggested “fixes” might make the patient look better – but the disease will kill the patient if it is left unchecked.
The final “straw that broke the camels back” this afternoon was Senate Democrat Harry Reids premature announcement of a “stimulas package” to be passed along side the “bailout” – the “stimulus package” not previously delivered to House Republicans – was a typical Democratic “Christmas Tree” of spending goodies. Hardly a bipartisan move at this critical time.