Posted by
Mike on Wednesday, February 04, 2009 3:22:00 PM
http://westernperspective.blogspot.com/
Mistakes always have consequences.
When G.W. Bush first took office and America was already too far in debt, VP Cheney believed that deficits don't matter. What Bush did after September 11 was to commit America to spending an unlimited amount of money on a war that no one knew what it was about, and no one knew whether or not we could win.
Meanwhile, the Democrats in Congress led by Frank, Dodd and Pelosi, were creating a guaranteed insurance incentive for the financial sector to abandon good lending practices and start making bad loans to put minority and immigrant families in homes that they could not afford to live in, and where their neighbors did not want them to live next door anyway. They simply do not have the skills to deserve living in upper middle class neighborhoods. So naturally many of their homes were and are taken away in foreclosure. The Democrats in Congress basically needed friends because they were so unpopular with ordinary Americans and for good reason. This is really what redistribution does.
Government trying to stimulate the economy by spending or giving away to create demand is a ploy that simply doesn't work.