Thread: Obama’s economic policy is transforming America

Obama’s economic policy is transforming America

Obama: transforming America

- Henry Lamb
Saturday, April 2, 2011

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He said he was going to do it. He explained why he was going to do it. He even said how he was going to do it. He has been doing it since the day he took office.

To be fair, he did take office at a time when the economy was on the brink of disaster. Of course, he and others of his philosophical ilk caused both the housing bubble and its collapse – no matter how hard they deny it. Organizations such as ACORN , where Obama cut his teeth as a community organizer, demanded that banks fund mortgages for people who had no hope of repaying them. Democrats in Congress made it easy for banks by guaranteeing the loans through Fannie Mae and Freddie Mac. Two months before the 2008 election, the U.S. government had to bail out the two failed financial institutions to the tune of $15 billion.

During eight years under the Bush administration, the national debt increased by $4 trillion ($500 billion per year.) These years included the attack on the World Trade Centers, the wars in Afghanistan and Iraq, and Hurricane Katrina, as well as the explosion of the housing bubble. Obama added $4 trillion to the national debt in 421 days. And his belief that “spreading the wealth aroundâ€

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