New study confirms economy was destroyed by Democrat policies

Congress Races To Hammer Out Deal For Bailout Legislation

A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing market (the Community Reinvestment Act–enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying theeconomy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

Again, let’s review:

-President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democratscontinuously ignored him, shut down his proposals along party lines and continuedraiding the institutions for campaign contributions on their way down.

-John McCain also co-sponsored urgently critical reforms that would have prevented the housing market collapse, but Democrats shut that down as well, along party lines, and even openly ridiculed anyone who suggested reforms were necessary…to protect their taxpayer-funded campaign contributions as the economy raced uncontrollably toward the cliff.

-No one was making bad loans to unqualified people until Democrats came along and threatened to drag banks into court and have them fined and branded as racists if they didn’t go along with the left’s Affirmative Action lending policies…all while federally insuring their losses. Even the New York Times warned in the late 1990s that Democrats continuing to force banks into lowering their standards would lead to this exact catastrophe.

-Obama himself is even on the record personally helping sue one lender (Citibank) into lowering its lending standards to include people from extremely poor and unstable areas, which even one of the left’s favorite blatantly partisan “fact-checkers,” Snopes, admits (while pretending to ‘set the record straight’).

-Even The New York Times admitted that there is “little evidence” of any connection between the “Republican” deregulation measures Obama blames, like the Gramm-Bleach-Liley Act (signed into law by a Democrat), and the collapse of the housing market.

But non-Fox media have spent years deliberately and relentlessly inoculating people against the facts, training them to mindlessly blame Bush for being in charge when Democrat policies destroyed the economy. So here we sit, to this day, still watching Obama excuse and shrug off endless economic failures, illegal government takeovers and utter national bankruptcy with zero accountability.

One thought on “New study confirms economy was destroyed by Democrat policies

  1. The Democrats are not going to do anything to stop Obama from finishing the work of bringing America down to a 3rd world country. This plan was put in place in the 1960’s with the radical American hating hippies and has been in the works all these years turning our schools into training grounds for the communist party and this is happening right before our eyes and will be hard to stop. Every evil leader since Karl Marx (Father of Communism) has known how to overthrough the state of government by getting control of the people and what better way but with the government runned schools and colleges bought and paid for with our tax dollars. Yes we have been paying for the take over of our country! Destroying faith in God is part of their take over transformation also. The way people think about the Bible today only weakens Christianity and the church with their humanistic teachings that have expelled morality and truth. This is being taught in our schools, colleges and many churches because the communist has to destroy our foundation. Obama wants our children to attend these public schools so his socialist, unionized teachers can indocrinate them against our founding fathers, American Heritage and Constitution. That is what Saul Alinsky’s “Rules for Radicals” method and Obama’s Transformation of America is all about. When the Church wakes up in America and many are, we will begain to shine once again, until then America will only keep falling into more bondage.

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