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It's the (Bush) economy, stupid



Americans still blame George W. Bush for the country's economic woes. Photo by Marvin Joseph of the Washington Post

A new Washington Post/ABC poll suggests that most Americans continue to blame the sluggish economy on former President George W. Bush, a development that could complicate Republican efforts to lay it at President Barack Obama's feet this fall.

Nearly six in ten (59 percent) of those polled said that Bush was to blame for the current state of the economy while 25 percent put the blame on Obama.

While those blaming Obama has risen from a July 2009 Post/ABC survey when 16 percent said the economy was his fault, the number of people blaming Bush is virtually unchanged -- 61 percent in July 2009 as compared to 59 percent now.

Other data points in the poll affirm the sense that, generally, the public feels relatively good about what Obama has done in regards the economy since being sworn in as president in January 2009.

Thirty-nine percent said the policies pursued by Obama have made the economy better as compared to 26 percent who said they had made things worse. (Another third -- 32 percent -- said that Obama's policies had had no effect.)

And, Obama carries a trust edge over Republicans in the poll with 49 percent trusting him to do the right thing on the economy while just 38 percent said they trusted the GOP on financial matters.

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Before too many corks are popped in celebration over at the Democratic National Committee, however, it's worth taking a look at a few other data points -- both in the Post/ABC poll and a new Pew survey -- that suggests ominous clouds could be building for Obama and Democrats.

In the Post poll nearly three-quarters described themselves as worried about where the economy is headed over the next few years while 88 percent of those tested in the Pew survey described the current state of the economy as either "fair" or "poor".

Less than one in three respondents in the Pew poll said that the federal government had made progress in fixing the problems that ailed the economy in 2008.

There's little doubt that at some point in the future -- whether that comes later this year in 2011 or even in 2012 -- people will begin to describe it as the "Obama economy".

And, with the large numbers of people not only concerned but also pessimistic about where things are headed, there is the very real possibility that the anger/disappointment still being directed at Bush over the economy will transfer itself onto Obama.

While a full-scale economic rebound is a virtual impossibility between now and the November elections -- or perhaps even before the 2012 presidential race -- the White House knows that some of the leading economic indicators (the unemployment rate, most obviously) need to show signs of improvement for them to avoid facing voter backlash over the economy.

By Chris Cillizza  |  April 28, 2010; 1:58 PM ET
Categories:  Economy Watch  | Tags: Barack Obama, George W Bush, President of the United States, Republicans, United States  
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Comments

What a cock. It's always the economy of Congress. By design, Congress controls the budget, look it up. Presidents can threaten vetoes but unless they are willing to shut the government down they can only nibble at the edges of the problem. Only idiots and political ideologues attempt to hang an economy on a president. This is true of either party, by the way. This isn't Bush's economy and it isn't Obama's economy. At the moment, it's the economy of Reid and Pelosi and you might be able to hang some of it on B. Frank for his mismanagement of Fannie & Freddie, as many have.

Posted by: PDenoli | May 3, 2010 11:46 AM | Report abuse

The true fact is that Bush had a 9-11 tragedy to deal with,thanks in part to the Clinton administrations lack of awareness. Of course the Washington Post / poll would "find" 59 % against Bush rather then against Obama on the economy...goes without saying. Wow, yet most unbiased polls find that Democrates are going to lose loads of seats in house and senate this November..go figure, Washington Post pollsters.

Posted by: ladyluck1 | May 2, 2010 9:02 AM | Report abuse


Concerning healthcare:

Why would the republicans be so adamant about stopping the democrat president make a mistake that would assure a republican win in 2012 and lose all credibility for the dems for years to come? It would also give them the chance to 'save " us all.

Why are they so eager to stop this "horrible mistake" before its made?

Because they aren't actually afraid of it's failure.They are afraid of its success.
It's success will be one of the final nails in the coffin of an angry, terrified party that rides the waves of lies,spin,controversy and negativity that itself creates to stay alive....

Posted by: randypagan | May 1, 2010 1:44 AM | Report abuse

Wow i cant believe that people think this is Bush's fault. Its not obama's either. It's Bill Clinton's fault. When the economy was riding high (thanks to Bush Sr.) Bill decided to create SEC rules that force Lending companies to give out Home Loans to people who really could not afford it. Then when the economy started slipping, those low variable rates turned into a nightmare and this the housing crisis ensued. When Bush took office in 2000, he tried to get those rules removed b/c he knew there would be a problem and the Democratic congress told him to F off. You can thank the Democratic Congress for spending your money, raising your taxes and reducing services. Fiscal responsibility is not part of the democrats vocabulary.

Posted by: pbrn | April 30, 2010 7:48 PM | Report abuse

The one thing that Obama owns when it comes to the economy is the trend.

When he took office, we were losing 750k jobs/month. last month we gained 160k. that is a 900,000/month improvement.

When he took office, the economy was still receding. Now it is growing.

If the repubs really want Obama to shoulder the blame for any future problem, they should get out of the way and let the Dems pass whatever they want.

Posted by: 1970gt6 | April 30, 2010 6:18 PM | Report abuse

Were it not for that moron w aka george w. bush or king george 11 this country would be in better shape in every way and all the country's money would not be wasted on tax cuts for the superrich and the military.

Posted by: davidsawh | April 30, 2010 4:23 PM | Report abuse

It is very obvious that the Washington Post would continue to find Bush guilty of the economy, although Obama is going on year two of his presidency and fiscal policies. Tell me Post is Obama going to be responsible for anything or accountable for anything ever? If he were to follow previous proven example (from Regan) and lower taxes, that would allow the private sector to create jobs. Creating jobs would increase the Tax revenue to the government. Deport the illegals as prior presidents have ordered and you have less people using government services and being on the dole, Also deport illegals in prison and you will get rid of 26% of the prison population, get them all from all countries here illegal - this is not just a Mexican issue - aklthugh they seem to be coming into the U.S. in larger numbers. And they love to fly their Mexican flag, that tells me they want to go home because they miss it so much. Our President's motto is to aggitate, and he is doing it - he has had much experience as an accorn organizer - not much for uniting the people as President Regan did. To get the country out of the Jimmy Carter economic mess we were in with inflation at 300% and interest rates at 24% and gasoline being rationed - Anyone remember ? Regan might have been a cowboy and an actor, but he certainly brought many years of economic progress to the U.S. that was enjoyed through the Bush 41 and Clinton years, and first term of Bhush But he needed to protect us from the fanatics from the religion of peace that wanted to kill as many Americans as they could. Anyone want to guess what that freligion is?? Clue = their women wear Burkas....It is clear that the post is in bed with Obama - that is why their subscriptions as a paper have gone down.

Posted by: OTREBORRG56 | April 30, 2010 5:14 AM | Report abuse

I'm making a list detailing the predictions made by the GOP about obamas upcoming presidency and the outright lies spread about him since he took office.people need to remember just how many lies and predictions the GOP has released upon their ignorant followers.What bothers me more is that their sheep don't care about being lied to at all.Republican kool aid in tea cups don't necessarily make a tea party......

Can anyone add to the list? Any help would be appreciated.
Heres what I got so far:

he will take our guns away
he will tax us to death
he will be sworn in on the quoran
he is not a natural born citizen
he will appoint Bill Ayers to a cabinet position
hes the anti-christ
his father is a radical muslim
he is a radical muslim
he is a radical christian
he canceled "national day of prayer"
He passed a bill for “Islamic prayer day”
he refuses to recite the "pledge of allegiance"
attended a radical muslim madrassa when he was young
endorsed by the klu klux klan
campaign contributions from shady foreign financiers
spurned us soldiers during a trip to Afghanistan.
3 former Fannie Mae executives are linked to obama campaign as chief economic advisors.
his house and education are paid for with money obtained by "questionable sources".
best friends with Bill Ayers.
admitted to being a muslim on ABC.
Issued an order allowing hundreds of thousands of Palestinians to settle in US.
Used a non us passport to travel to pakistan in 1981.
He was a black panther.
a federal judge has ordered a trial to determine obamas citizenship for jan 26,2010.
photo shows obama removing his shoes for "Islamic prayer day".
photo shows a kenyan sign saying "Birthplace of obama".
obama is going to ban fishing in the US
Obama took American flag logo off his campaign plane.


I also have a theory that the repubs are no longer making predictions that can fail immediately and they can get called on them. Thats why they are now making predictions that happen much later in the future (ie: "Your grandchildren will be taxed to death and bear the full burden of Obamas changes")That way they won't get caught in alarmist lies so easily....

Posted by: randypagan | April 30, 2010 1:46 AM | Report abuse

7 MONTHS IS A LONG TIME IN POLITICS!
The former British Prime Minister, Harold Wilson, once said: "A week is a long time in politics!"
Seven months is a long time in American politics! It's always about the state of the economy!
President Obama, his advisers, the Federal Reserve, and a Democratic Congress have done some smart and positive things to turn the economy around, from recession to growth in record time! It has taken the United States, 18 months, for the turnaround! It took the Japanese 12 years to get themselves out of recession!
Only one Party has been managing the economy, and that's been the Democrats!
Only one Party has been honestly concerned about saving and creating jobs, and that's been the Democrats!
The Democrats are the Party of small business. Sixty five percent of workers in the US are employed by small business owners!
It's the Democrats, who have designed and delivered tax breaks and tax credits for small businesses to stay afloat and prosper!
It's the Democrats, who are trying to regulate the financial sector, so that we do not have another economic meltdown, with its accompanying mass unemployment, and misery for families.
It's the Democrats who are concerned about the creation of new Green Energy economy, that will produce higher paying jobs!
It’s the Democrats, through the Recovery Act, who have invested in lithium battery factories, to power the new hybrid vehicles of the future!
It's the Democrats that are concerned about cutting Health care cost for businesses, and make them more competitive in a global economy.
It's the Democrat economic policy that have seen, a 7% growth in three consecutive quarters, the best in 50 years!
Why shouldn't the electorate vote for Democrats to regain control of the Senate and House of Representative in November?
Why shouldn’t the electorate trust the Democrats to successfully manage the economy?
Democrats have proved that in time of economic crisis, they can deliver!
Democrats are not quitters!
Democrats feel the pain of the American people, and try and solve their problems!
Democrats don’t play politics with the unemployed! They help them retain and find jobs!
Democrats have displayed a quality of courageous and sacrificial leadership, unseen for decades!
Democrats know how to lead effectively in a crisis!
It's the economy!
It always has been, and always will be about the economy!
When it comes to the management of the economy, the Democrats are a cut above the other Party!

Posted by: stephendelsol | April 29, 2010 10:19 PM | Report abuse

“Quite true, as far as it goes, but remember, the F&F by that point were "Quasi". Put F&F back in the Fed somewhere, and LEAVE them there” Posted by ceflyline

Very good point. But it’s been my experience that business continuity always comes before short-term profits in the private industry. Otherwise we would see private companies and corporations imploding at a high rate in the US. Typically, businesses in the US tend to fail when a competitor offers a superior product or service to customers… often due to innovation or superior marketing.

It seems more likely to me that the well documented HUD targets for Fannie and Freddie, that gave the quasi GSO’s aggressive targets for purchasing increasing amounts of subprime were a greater influence, although profits were probably a factor as well.

Put F&F back in the Fed somewhere, and LEAVE them there!! Or… Fully privatize F&F, and leave them there!! As they stand, they are responsible to both shareholders and the government, which has proved a confusing recipe for disaster.

Posted by: MikeinOR | April 29, 2010 9:02 PM | Report abuse

“Quite true, as far as it goes, but remember, the F&F by that point were "Quasi". Put F&F back in the Fed somewhere, and LEAVE them there” Posted by ceflyline

Very good point. But it’s been my experience that business continuity always comes before short-term profits in the private industry. Otherwise we would see private companies and corporations imploding at a high rate in the US. Typically, businesses in the US tend to fail when a competitor offers a superior product or service to customers… often due to innovation or superior marketing.

It seems more likely to me that the well documented HUD targets for Fannie and Freddie, that gave the quasi GSO’s aggressive targets for purchasing increasing amounts of subprime were a greater influence, although profits were probably a factor as well.

Put F&F back in the Fed somewhere, and LEAVE them there!!

Or… Fully privative F&F, and leave them there!!

As it stands, they are responsible to both shareholders and the government, which has proved a very confusing recipe for disaster.

Posted by: MikeinOR | April 29, 2010 8:47 PM | Report abuse

" Not trying to blame everything on F&F, but they did have a large part in creating this mess. This was due to the best of gov’t intentions to increase home ownership, which was extremely successful for many years. Posted by: MikeinOR"

Quite true, as far as it goes, but remember, the F&F by that point were "Quasi". Much of them had been privatised and the privatised F&F were subject to pressures to move their stock prices up. When you only buy really prime assets and nothing else your stocks stay lackluster, because, being ultra safe, they are ultra predictable and ultra low return. As Federal Agencies, (Fanny Mae before privatization) they don't have to make a profit, and in fact can regularly run at just a bit of a loss, but as private firms they MUST make a profit, and their investors demand more and better profits as a matter of course. When you have to keep beating your own results you eventually have to take risks, and when even a few of the risks fail you get into a really bad spiral, risky investments fail so you need riskier investments to make up the losses and more risky investments to increase your profits.

When the Feds don't make money, the worst they have to worry is irate congresspeople and their hearings.

Put F&F back in the Fed somewhere, and LEAVE them there

Posted by: ceflynline | April 29, 2010 5:49 PM | Report abuse

"A new Washington Post/ABC poll suggests that most Americans continue to blame the sluggish economy on former President George W. Bush"

As well they should -- he is one that caused it. Republican deregulation was the root cause of every single thing that fell apart.

It's a good thing people remember this.

Posted by: drindl
-------------------------------------------
I remember that it was everthing the dems did since the late 1970's to make obtaining a mortage easier and forcing lending.

And Obama, Gore, Raines, Soros and company have a similiar scam for the future called the Chicago Climate Exchange.

Posted by: leapin | April 29, 2010 5:36 PM | Report abuse

Typical inside-the-beltway echo-chatter.

You have no idea what Americans think.

Posted by: pabarge | April 29, 2010 4:33 PM | Report abuse

Folks, do not believe a poll put together by a left-wing network (ABC) and a left-wing newspaper (Washington Post). If you want the truth, click on Pew Research when you see it in the story or go to Pew's website. You'll find their non-partisan findings are quite different, mostly favoring Republicans or showing the parties roughly equal, depending on the subject. You know, I remember when the left-stream networks and newspapers at least gave you the truth before they slanted it. But then, neither ABC or Washington Post reach nearly as many people as they once did. I wonder if either will exist 20 years from now. Probably not.

Posted by: RonKH | April 29, 2010 3:53 PM | Report abuse

Let US Never Forget The George W. Bush Presidential Library Decision Points:

The Hurricane Katrina Room, which really never started construction.

The Alberto Gonzales Room, where you won’t be able to remember anything, and contains Harriet Myers "What Contitution Law" coloring book.

The WaterBoarding Is FUN, not Torture at all Room.

The Texas Air National Guard Champagne Room, where you don’t even have to show up to avoid VietNam.

The Walter Reed Hospital Room, where they don’t let you in, and if get in Nobody Sees You.

Voodoo Economics Room, where $ 5 Billion per month Wars are “OFF FEDERAL BUDGET”.
The Guantanamo Room, where they don’t ever let you out, even if not guilty.
The "Weapons of Mass Destruction" Room, which no one has been able to find.

The National Debt Room, which is huge and has no ceiling.

The Tax Cut Room, with entry only to the wealthy.

The Economy “Is Strong ‘n Steady Room”, which is (in) the toilet.
The Iraq War Room. After you complete your first tour, they make you to go back for a second, third, fourth, and sometimes fifth tour. Only volunteers, no weathy Republicans required.

The Clear Skies Room, removing Power Plant Coal burning Emission regulations, next to

Sustainable Forests Room, where all forests can be clear-cut via taxper paid access roads.

The Decider Room, complete with Intercom to Cheney Secret Location Room, and W’s Skull & Bones magic 8-ball.

The museum will also have original "Mission Accomplished" Banner, 'cuz he got Republican Congress to increase his Presidential retirement from $ 200,000 to $ 400,000 per year, tax free, forever!

Posted by: rmcnicoll | April 29, 2010 3:50 PM | Report abuse

No i would blame the GOP and Bush administartion for its economic policies that wasn't gud 4 America. We don't have any reason to go for war. We wasted a lot of money in war. More than that, the CEO'S of corporate America controlled our money and outsourced our jobs to India and China. It is president Bush and his GOP party made possible to outsource the jobs overseas for cheap labour cost. Moreover, there were no banking regualations during Bush administartion's period. Money was controlled by upper rich bankers.When Obama was to enforce law on finacial regualtion or to limit CEO'S bonuses then the GOP jumped in to save their wall street friends.My dear Friends, the only way to save American economy is to Regulate the Banks and avoid giving too much money to Ceo's and banks and nationalize the banks. Our economy got real bad shaped during the Bush administartion period. And president obama shouldn't print money any more but has to fix the basic things otherwise economy would be in badshape were it has been before. No offshoring of american jobs, make real american products here. So that we can take back our prosperous america.

Posted by: mayavi55 | April 29, 2010 2:25 PM | Report abuse

I suppose we can argue about the point at which the economy became "owned" by the Obama administration. Some might say it was with the passage of the Stimulus Bill. Some might say the bailouts. Some might say it was when Obama decided to go all-in on healthcare. Regardless, the primary point is that this economy is 100%, lock stock & barrell, OWNED by Obama. Squeak and squawk "Bush" all you want...nobody is buying it anymore. Tsunami coming in November.

Posted by: JohnR22 | April 29, 2010 12:59 PM | Report abuse

Let’s see… the Bush administration invaded a foreign country that hadn’t attacked us and did not have weapons of mass destruction while leaving another war unfinished, claimed torture and indefinite detention without trial is just fine, doubled the national debt, watched as New Orleans and the U.S. economy collapsed, and the Left went nuts. The Obama administration passes a health care bill that helps 32 million Americans get health insurance, prevents insurance companies from dropping coverage for pre-existing conditions, will save about $1.3 trillion dollars over the next 20 years, and the Right goes nuts. Doesn’t that say it all?

For those who think Obama has made the economy worse: since Obama has taken office, the stock market has rallied with the DOW going from 6,500 to 11,000, which saved a lot of retirement funds. The country has gone from 700,000 jobs lost per month to 160,000 gained per month. Independent economists estimate the stimulus bill saved 2 million jobs. The GDP has gone from a -6.4% to a +5.9% annual rate. The U.S. trade deficit has dropped by 44%. Home sales increased by 6.8% in March. Under Obama, the $700 billion-budgeted TARP has recovered so much of its funds that its cost is now $89 billion and it will continue to shrink as bailed out companies pay back their loans. Obama saved GM and with it, tens of thousands of jobs, and GM has repaid all its government loans with interest. As the economy turns around, people will see that Dem governance works compared to GOP economic collapse.

Posted by: zvelf | April 29, 2010 12:57 PM | Report abuse

You really can't blame the president it is the house and the senate. You forget that democrats had control over the house and the senate. So they are the blame. Don't forget that the fiscal policies by the president has to be voted on buy the house and the senate. A party system does not work. Look at Mass.

Posted by: abrannon1 | April 29, 2010 12:51 PM | Report abuse

Democrats were oversampled in the ABC/WP poll so the results are skewed to favor Obama. Chris conveniently leaves out many polls that show the blame is now more evenly divided and with Obama getting more and more of the blame as time goes on. Of course Obama doesn't deserve the blame for the 2008 and most of the 2009 economy. As for 2008, there is plenty of blame to go around and Bush has his share. Let's not forget the democrats have been in control of congress since early 2007. Also, the root causes of the crisis did not originate with Bush. The root causes were the CRA, subprime mortgages, housing bubble, fannie and freddie. Chris and most americans forget that Bush and McCain were warning of the coming storm back in 2007 and it was the democrats who didn't want want to do anything about it.

Posted by: commonlogic | April 29, 2010 12:26 PM | Report abuse

Still another testament to the ignorance of the American public. We probably need to spend still more money on education and make the teacher's unions stronger. I used to think the schools normalized around mediocrity but now believe that there target is much lower.

Posted by: vitaglubet | April 29, 2010 12:23 PM | Report abuse

Maybe if the MSM would report honestly on Obama and tell the American public that he took a bad situation and made it much, much worse, people would start putting he blame where it should on - on the man in the White House and his fellow playmates in congress. Is there ever going to come a time when the press opens its eyes and realizes that it had done to this country with its refusal to vet Obama?

Posted by: rocks1 | April 29, 2010 12:22 PM | Report abuse

I do not understand the Obama mystique. He can do no wrong in the eyes of many, yet he is doing wrong with the economy. It's amazing that people can't see how he's spending us into death.But he is very clever. He has Congress do all of his dirty work while he looks squaky clean and feels free to blame problems that rightfully are his problems. But as long as he has Congress as his scapegoat he'll still be our teflon-coated President, every bad thing will just run off of him and onto Congress. He's truly a master politician.

Posted by: murzek1 | April 29, 2010 11:51 AM | Report abuse

I do not understand the Obama mystique. He can do no wrong in the eyes of many, yet he is doing wrong with the economy. It's amazing that people can't see how he's spending us into death.But he is very clever. He has Congress do all of his dirty work while he looks squaky clean and feels free to blame problems that rightfully are his problems. But as long as he has Congress as his scapegoat he'll still be our teflon-coated President, every bad thing will just run off of him and onto Congress. He's truly a master politician.

Posted by: murzek1 | April 29, 2010 11:51 AM | Report abuse

It's the Greenspan, Bernanke and Geithner economy stupid.
But, they probably were not a choice on this WaPo/ABC survey.

Most these sponsored polls have gotten worthless since "spin is in".

It's bad enough to screw something up,
but even worse to spend all your time aggravating the problem,
while shifting blame.

Posted by: BluePelican | April 29, 2010 11:05 AM | Report abuse

And BArry has responsibility for.. job less, wildly increased spending, weaker borders, increased danger with a weak responce to our enemies... how deep in the sand are the Blame Bush Crowd?

Posted by: NeoConVeteran | April 29, 2010 10:49 AM | Report abuse

My investments DOUBLED from 2000 to 2007 (when the demonkrats gained a majority in Congress). The HIGHEST stock market in hitory was recorded during Bush's administration. I guess my rememberances of "the Bush economy" are simply more factual than the obama media reports.

Posted by: IQ168 | April 29, 2010 10:45 AM | Report abuse

I wonder what year/century that everything will no longer be Bush's fault. No doubt he made some significant blunders but with all the "unprecedented" actions Obama claims to have taken and all the "successes" he touts, you would think there should be no problems left.

Posted by: usr105 | April 29, 2010 7:46 AM | Report abuse

The right wing has ruined this country. The evidence is all around you, boys and girls! Open up your eyes!

The problem, as I see it, is this: For thirty years - since that day in 1980 when the people decided that sending a feeble-minded, failed "B" movie actor to the White House would be a really neat idea - the people who earn most of the wealth of this country, the richest two or three percent, have not been paying their fair share of the tax burden.

When that situation is allowed to fester for three solid decades, of course your infrastructure is going to go into the toilet. What the heck did you expect?

http://www.tomdegan.blogspot.com

Tom Degan

Posted by: tomdeganfrontiernetnet | April 29, 2010 5:04 AM | Report abuse

Before the elections most voters agreed that whoever took over as president had a long road ahead of him to dig out of the mess Bush created. Nobody wanted that job. It was clear that it would take many years to recover. With that being said, Obama is just getting started so cut him a break. I didn't vote for him, he is trying to accomplish things even with all the republicans fighting him at every chance.

Posted by: suerosenorn | April 29, 2010 1:53 AM | Report abuse

shrink2,

I don't have the proof you want, but a quick search on google or bing on MBS ratings from Fannie and Freddie should bring up some interesting data points for you.

This article from the WSJ lays it out fairly well: http://online.wsj.com/article/SB10001424052748703278604574624681873427574.html

Again, this is not an evil gov't thing or a mistake of either major political party. It was and is a noble effort by HUD to increase home ownership in this great country.

Posted by: MikeinOR | April 29, 2010 1:38 AM | Report abuse

shrink2, maybe I wasn’t clear enough in my post…

The derivatives market for CDO’s and other mortgage backed securities was created by investment banks. The demand for these securities was easy to understand… risky low trench mortgages combined with higher quality mortgages created synthetic securities with very attractive yields. All I was trying to point out was that these risky securities were only rated as investment grade because of the willingness of Fannie&Freddie to buy them. And since F&F had implied gov’t backing and a seemingly never ending purse, the ratings were actually correct for many years. The loan originators were booming since this newly created market quickly purchased any loan from them, no matter how risky. Most of this huge MBS market was artificially created and would have never grown so large without gov’t demand.

There were many other factors at play, including “drive-by” appraisals… but F&F were the elephants in the room.

This has nothing to do with an evil Fed stepchild of gubmint, or even republicans or democrats. This was a legitimate effort by the gov’t to increase home ownership, which I believe is a noble cause.

Posted by: MikeinOR | April 29, 2010 1:15 AM | Report abuse

shrink2, maybe I wasn’t clear enough in my post…

The derivatives market for CDO’s and other mortgage backed securities was created by investment banks. The demand for these securities was easy to understand… risky low trench mortgages combined with higher quality mortgages created synthetic securities with very attractive yields. All I was trying to point out was that these risky securities were only rated as investment grade because of the willingness of Fannie&Freddie to buy them. And since F&F had implied gov’t backing and a seemingly never ending purse, the ratings were actually correct for many years. The loan originators were booming since this newly created market quickly purchased any loan from them, no matter how risky. Most of this huge MBS market was artificially created and would have never grown so large without gov’t demand.

There were many other factors at play, including “drive-by” appraisals… but F&F were the elephants in the room.

This has nothing to do with an evil Fed stepchild of gubmint, or even republicans or democrats. This was a legitimate effort by the gov’t to increase home ownership, which I believe is a noble cause.

Posted by: MikeinOR | April 29, 2010 1:15 AM | Report abuse

"...which led to a new derivatives market, and propped up the value of the risky securities well beyond what the private market would have otherwise paid."

Ah, once again, the virgin purity of the private market was sullied by the evil fed stepchild...of gubmint.

This is a story. How can we know it is true?

So now F&F created the synthetic products market. Bets over bets on mortgages (which are also bets) were created all of a sudden, by F&F in 2006-7?

It is the Republican story, but I'd sure like to see some facts.

Posted by: shrink2 | April 29, 2010 12:52 AM | Report abuse

“One more instance of the Feds outperforming the market.”

Interesting take on the situation ceflynline. Almost everything you posted was correct, but you missed the point.

The private subprime market existed because of F&F. Without the backing of Fannie&Freddie, and the implied F&F backing from the Feds, subprime securities and derivatives would have never received investment grade ratings from the rating agencies. The rating agencies knew that Fannie/Freddie were always in the market to purchase as many of the CDO securities as their annual budgets permitted, either directly from the loan originator or thru the open market: creating demand, which led to a new derivatives market, and propped up the value of the risky securities well beyond what the private market would have otherwise paid.

Loan originators knew this well and would allow anyone to take out a mortgage, knowing that they could simply turn around and sell the loans, no matter how risky, to Fannie and Freddie or to the market which was created by their demand. This turned out to be a great thing, since it allowed home ownership, or what many call the American dream, to reach unprecedented levels. When the system came crashing down, the Feds starting buying the securities, just as the private market predicted, although no one could have guessed how engrained in the markets they had come. Not trying to blame everything on F&F, but they did have a large part in creating this mess. This was due to the best of gov’t intentions to increase home ownership, which was extremely successful for many years.

Posted by: MikeinOR | April 29, 2010 12:35 AM | Report abuse

This bad economy is all because of Barack Obama's Socialist/Communist policies of nationalizing private industries (GM, Chrysler), Banks, Mortgage companies, Insurance companies, and now all the Health care companies, and his agenda to redistribute all wealth. Obama though will get a free pass for it because the Democrap Socialists control the Main Stream Media, Academia, and Hollywood, and it'll be all blamed on Pres. GW Bush. Just like the Nazi propaganda minister Goebels (?) once said, tell a lie often enough, and there'll be people who'll believe it, and with the MSM in Obama's and the Democrap Socialists hip-pocket, how can they miss.
This bad economy started with the Democrap Socialist Community Re-investment Act, that forced banks and mortgage companies to give mortgage loans to people who could never pay it back. This caused Fannie Mae and Freddy Mac to fail, and to be bailed out by us taxpayers in the billions if not trillions. People bought houses for no money down and on welfare, and banks were forced to give it to them under threat of lawsuits for discrimination and red-lining by shysters like Barney Frank, Chris Dodd, Kent Conrad, Ted Kennedy, etc., all Democrap Socialists. They even forced banks and mortgage companies to accept a persons monthly welfare check and the value of their food stamps as collateral. When the Republicans and Pres. GW Bush tried to reign in these bad loans back in 2006, because they forsaw the do-do hitting the fan if they didn't do anything about it, every Democrap Socialist voted against it.
It must be nice to have the MSM in your hip-pocket, so you can blame the Republicans and Pres. GW Bush for something the Democrap Socialist's are primaily responsible for, and get away with it.

Posted by: armpeg | April 29, 2010 12:00 AM | Report abuse

We have so many uniformed Americans. Yes, the stock market is up but still 30% below it's high of 14,000. Hey everyone! The stock market goes up and down regardless of who's in office. I lost money under Clinton for awhile, bounced back, same under Bush and now Obama. Use your brain.

Posted by: Jackets | April 28, 2010 11:20 PM | Report abuse

We have so many uniformed Americans. Yes, the stock market is up but still 30% below it's high of 14,000. Hey everyone! The stock market goes up and down regardless of who's in office. I lost money under Clinton for awhile, bounced back, same under Bush and now Obama. Use your brain.

Posted by: Jackets | April 28, 2010 11:20 PM | Report abuse

We are not as stupid as this Obama administration hoped we were. We know who has thrown two trillion down the toilet. Obama is to blame for this no job economy. This health care takeover and the worthless Stimulus bill that was not a jobs bill but a payoff to special interests were a total waste. Oh we know who really is at fault. Don't worry. My memory will take me in that voting box to get rid of these know nothing Democrats and their radical self serving agenda. Count on it. I am so angry I will not forget who to blame.

Posted by: greatgran1 | April 28, 2010 7:01 PM | Report abuse

??????????????????????????????????????????????????????????????????????????????????????
You may not be but you are as stupid as Republicans think you are. They have convinced you gullible people that the man with the funny name who doesn't look like you is the cause of all your problems and the country's problems. They will try and convince you to vote against your own best interest. They will convince you that only Republican, white males are capable of running the country. They will use fear, scare and smear to convince you that our country is somehow worse off now than we were under the Bush administration despite all information to the contrary. Most Americans though know it was Republican leadership (or lack there of) and their policies that created the mess we have now. And they also know that Republicans want this President to fail and will do everything they can to help that happen regardless of how it will affect the American people. We see, we see. By the way, what exactly HAVE Republicans done for you lately?

Posted by: catmomtx | April 28, 2010 11:14 PM | Report abuse

We are not as stupid as this Obama administration hoped we were. We know who has thrown two trillion down the toilet. Obama is to blame for this no job economy. This health care takeover and the worthless Stimulus bill that was not a jobs bill but a payoff to special interests were a total waste. Oh we know who really is at fault. Don't worry. My memory will take me in that voting box to get rid of these know nothing Democrats and their radical self serving agenda. Count on it. I am so angry I will not forget who to blame.

Posted by: greatgran1 | April 28, 2010 7:01 PM | Report abuse

??????????????????????????????????????????????????????????????????????????????????????
You may not be but you are as stupid as Republicans think you are. They have convinced you gullible people that the man with the funny name who doesn't look like you is the cause of all your problems and the country's problems. They will try and convince you to vote against your own best interest. They will convince you that only Republican, white males are capable of running the country. They will use fear, scare and smear to convince you that our country is somehow worse off now than we were under the Bush administration despite all information to the contrary. Most Americans though know it was Republican leadership (or lack there of) and their policies that created the mess we have now. And they also know that Republicans want this President to fail and will do everything they can to help that happen regardless of how it will affect the American people. We see, we see. By the way, what exactly HAVE Republicans done for you lately?

Posted by: catmomtx | April 28, 2010 11:14 PM | Report abuse

ceflynline,
I understand what you said.
I have to think about it.
If you smell burning rubber,
it is just my brain spinning its wheels.

Posted by: shrink2 | April 28, 2010 11:07 PM | Report abuse

Bush (and Cheney) drove this economy completely off a cliff. It doesn't matter if it's been one year or ten years since!

They totally screwed pur generation and the next one too...

Posted by: ron21 | April 28, 2010 9:55 PM | Report abuse

" "Also at the height of the collapse Fannie/Freddi were only 18% of the subprime market." The Republicans say this was bad, because F&F domination in the prime markets forced the private sector into the subprime fiasco. Because that was the only place they could compete, they had to do what they did. Can we figure out what is wrong with that argument? Yes, we can. Posted by: shrink2"

Much of F & F's real problems arose when the value of properties they had fairly appraised in granting loans died with the values of all the properties that went down under private banking's fantasy appraisals. Both agencies were quite conservative right up to the crash. But when all that speculative real estate hit the market with no buyers, all those F&F properties took serious hits to THEIR values as well. About all that F&F's problems prove is that they never should have been quasi privatized in the first place. Had they stayed Federal Agencies they wouldn't have been under stock holder pressure to improve their through put to hype their stock valuations.

One more instance of the Feds outperforming the market.

Posted by: ceflynline | April 28, 2010 8:28 PM | Report abuse

Whatever polls say, those in the know know. It obviously started with Bush. Anyone with half a brain knows it. This kind of talk just perpetuates the kind of "brainwashing" that the republicans are so fond of.

Posted by: gordon7 | April 28, 2010 8:25 PM | Report abuse

Whatever polls say, those in the know know. It obviously started with Bush. Anyone with half a brain knows it. This kind of talk just perpetuates the kind of "brainwashing" that the republicans are so fond of.

Posted by: gordon7 | April 28, 2010 8:25 PM | Report abuse

When the Republicans try to run on "Obama hasn't gotten you a job yet" how will they answer the retort, I had a job until bush sent it overseas.

The economy is a no win issue for the R's, and they know it. A rebounding economy is really a no win issue, because they somehow have to sell the American voter on the proposition that the economy would be better if we let them screw it up again.

They can't run on the wars, and they really don't want to remind America that a big chunk of the deficit is the cost of two wars.

They can't run on foreign policy, because Obama has what they never had, a foreign policy based on reality as well as realpolitik.

They can't run on domestic policy, because domestic policy costs money and the R's have already declared that, if it costs money, we can't afford it.

In the Ohio third we may get a Tea party candidate running in place of Turner who has said in print that the only victims of discrimination are white males. She wants to eliminate medicare, (as in don't mess with my...), social security, the civil rights acts, and by inference the 13th, 14th and 15th amendments. (Her take is that the pre civil war constitution is all the protection of civil rights we need.)

She wants peoples' right to refuse to serve other races in their businesses restored. "Right of non association."

AND she may just get to try to run on that platform in October.

Happy Halloween.

Posted by: ceflynline | April 28, 2010 8:15 PM | Report abuse

So many on here are having a hard time accepting the fact that they voted for Bush twice and he brought the economy to a near disaster, and as far as their constant harping about Fannie and Freddie, yes I have gotten those e-mails from my consevative friends. What they fail to realize is that FMAE & FMAC didn't hop on the the crazy train until 2005 and the fall started in the beginning of 2006. But hey, if making up facts help you sleep better at night then by all means.
What I have biggest problem with though is the inability of the right to accept the fact that the econmy is turning around, my business is showing an upturn for the first time in 5yrs, my retirement account is just about whole save a few thousand. It's tough to have a narrative when the facts don't line up to it.

Posted by: DEACON54 | April 28, 2010 7:35 PM | Report abuse

So many on here are having a hard time accepting the fact that they voted for Bush twice and he brought the economy to a near disaster, and as far as their constant harping about Fannie and Freddie, yes I have gotten those e-mails from my consevative friends. What they fail to realize is that FMAE & FMAC didn't hop on the the crazy train until 2005 and the fall started in the beginning of 2006. But hey, if making up facts help you sleep better at night then by all means.
What I have biggest problem with though is the inability of the right to accept the fact that the econmy is turning around, my business is showing an upturn for the first time in 5yrs, my retirement account is just about whole save a few thousand. It's tough to have a narrative when the facts don't line up to it.

Posted by: DEACON54 | April 28, 2010 7:34 PM | Report abuse

Bush's fault? Come on! How about the Democrat run Congress owning up to their own actions? How about Obama actually taking some responsibility for his actions for a change?
But I forget...he's the messiah and therefore cannot be at fault for anything! Don't believe that...........just ask him!
Bush did some really stupid things with the economy, but Obama took the ball and really carried it out of the park and into the poor house for everyone except himself!!

Posted by: colleenfontenot | April 28, 2010 7:22 PM | Report abuse

Sometimes the line between liberal and conservative is a little blurred. Regarding one group of under-represented Americans who would like to have a stake in the economy, Mimi Hall wrote in today's USA TODAY:

"President Obama has received more petitions for pardons and shorter prison sentences than previous presidents at this point in office, and he hasn't approved a single one."

Jay Rorty of the ACLU calls Obama, "one of the slowest-acting presidents in history."

"Former Bush lawyer Kenneth Lee urged Obama to act with 'vigor,' saying the power to pardon 'is an important tool to provide a second chance.'"

A separate article by Hall focused on a black man named Kenneth Hall who received a life sentence for possession of crack behind a three-strikes law, even though neither of his prior convictions had required any jail time. The sentencing judge recommended he be granted clemency after a time; an appellate court agreed. He's now been down for 20 years and is still waiting.

Prisoners can't vote, and the minority vote is already money in the bank for Obama; but it's still time for him to man up. Push to get rid of these ridiculous mandatory sentencing laws and the laws which prevent the rehabilitated from having a chance at decent jobs. If a right-winger like Mike Huckabee can stand up on this issue, why can't BHO?

By the way, I'm not an escaped convict; I just believe in fair play. That's why I usually occupy a conservative niche here at the blog.

Posted by: Brigade | April 28, 2010 7:12 PM | Report abuse

...and I hate it when facts get in the way, like BF Frank and M Waters all said under oath that Fannie and Freddie were sound and there are no problems, about 9 months before they took a steaming dump on our economy. And the Clinton policy of giving homes to those that couldn't afford them, yes Mr. Raines, budget director to Clinton, CEO of Fannie (with $90M in misdirected payments to himself) and pals with Obama. The list goes on but it is easier to blame Bush than report the facts, but what the hell else is new. Thats right, its the Bush economy stupid, even though Dems have had the majority for all of it and then some, even though Obama has spent more than the sum of ALL OTHER PRESIDENTS COMBINED, oops, more fact. Crap!

Posted by: landluvver | April 28, 2010 7:10 PM | Report abuse

Now we just need a Poll Czar, then the regime can run everything. Complete control of Media, Finance, Healthcare, Industry, Income, Science, Education, Transportation, Green Techonology, Climate. The only thing it can't control is the free thinking people that are tired of the narcisistic far left (obama's version of center and transparency). Enough of this fool is enough, and enough of the "social justice" that takes from the working to give to the community organizers. If they ever had a job, they would know what it is like to have a paycheck stripped for the lazy and the unwilling to participate. Admittedly the bossess in DC haven't had jobs, so how can they appreciate the working class? But hell, Obama said, so it must be so.

Posted by: landluvver | April 28, 2010 7:02 PM | Report abuse

It's pointless to try to blame all this on one party or the other. It's a disaster created by the federal government's meddling in what should be free markets, creating a balloon in housing which led to speculation and widespread foreclosures. It's like a blimp with a large gash at the top which the government is trying to keep afloat by pouring more helium in at the bottom.

First, close the gash. Let Freddie and Fannie fail and put housing lending back on a financially sound footing. Let housing seek its proper level through free market processes, and make it illegal for the government to push for sub-prime mortgages and those without down payments. People will only honor their debts if they know that the prices underlying them were fair and if they have equity in the collateral. That's basic human nature.

In the future, any politician touting schemes to promote more home ownership ought to be pilloried. They can only end up inflating home prices and creating more foreclosure crises.

Posted by: athorpe | April 28, 2010 7:02 PM | Report abuse

We are not as stupid as this Obama administration hoped we were. We know who has thrown two trillion down the toilet. Obama is to blame for this no job economy. This health care takeover and the worthless Stimulus bill that was not a jobs bill but a payoff to special interests were a total waste. Oh we know who really is at fault. Don't worry. My memory will take me in that voting box to get rid of these know nothing Democrats and their radical self serving agenda. Count on it. I am so angry I will not forget who to blame.

Posted by: greatgran1 | April 28, 2010 7:01 PM | Report abuse

Where was this poll taken -- at a Democratic fundraiser? Fortunately, for the American people, there are more sources for information than the traditional left-leaning news organizations (i.e., The Washington Post and ABC). The public is better informed and becoming more and more skeptical of the information furnished by these organizations.

While this country was reeling from the financial collapse and job losses, Pres. Obama was pushing "his" agenda in Congress. A health care bill was hurriedly pushed through Congress without due process. We now find that this debaucle will cost considerably more than reported. Costs are increased, not decreased as promised. The administration is now considering tax upon tax to pay for their spending. And, while they condemn special interests, they are still in bed with the unions. Fannie and Freddie are doing business as usual with the blessing of Congress even though they were largely responsible for the financial collapse.

What is "stupid" is news organizations who are no longer the "watchdogs" for the American people. "Lapdog" is a better description.

Posted by: bethg1841 | April 28, 2010 6:55 PM | Report abuse

Interesting how no one complained during seven of eight years during the Bush administration where gross domestic product experienced positive growth. Its like a concert. No one remembers the middle; only whether the first and last notes sounded good. Nor does anyone bother to ask how do I prepare for a downturn because there is always a downturn no matter who is president

Alton Drew
www.altondrew.com

Posted by: altondrew | April 28, 2010 6:49 PM | Report abuse

Dear...Dear...Noacoler. Like I stated, simple enough for you to grasp? Evidently not for a mental midget like yourself. I said NO PRESIDENT can be held accountable for cyclical events. NOT EVEN YOUR PRESIDENT!

As for the chump remark, I would expect nothing less from an individual such as yourself. I'll bet you also flip people off in traffic and quake in your boots if you are forced to stop by or near that person you just offended at a later traffic light.

Poor little sad person.

Posted by: WTF54 | April 28, 2010 6:48 PM | Report abuse

Actually, the Senate was split 50/50 when Bush took the presidency and Cheney had the tie vote. The Senate moved to the control of the Democrats when Bush screwed around with Bernie Sanders.

BB

Posted by: FairlingtonBlade | April 28, 2010 6:46 PM | Report abuse

Obama is back to his RACIAL POLITICS


NOW who is the RACIST ????


.

Posted by: 37thand0street | April 28, 2010 6:45 PM | Report abuse

This article is a damn shame. Still blaming Bush two years later, when the Democrats have controlled Congress the last four years.

Obama TRIPLED the National Debt Bush handed him in just the first ten months Obama was in office as President. Now it's double that triple, or six times as much debt.

How on Earth can WaPo Lefty Chris Cilizza say that, except sarcastically? Was that supposed to be a poor attempt at humor, Chris?

By the way, I'm NOT a Republican, but an Independent with no love for either major political party. So I don't let myself be led by the nose by party BS.


Posted by: tncdel | April 28, 2010 6:44 PM | Report abuse

This article is a damn shame. Still blaming Bush two years later, when the Democrats have controlled Congress the last four years.

Obama TRIPLED the National Debt Bush handed him in just the first ten months Obama was in office as President. Now it's double that triple, or six times as much debt.

How on Earth can WaPo Lefty Chris Cilizza say that, except sarcastically? Was that supposed to be a poor attempt at humor, Chris?

By the way, I'm NOT a Republican, but an Independent with no love for either major political party. So I don't let myself be led by the nose by party BS.


Posted by: tncdel | April 28, 2010 6:44 PM | Report abuse

DDAWD:

When Bush became President, the Democrats controlled the Senate. They lost that control in 2002. The Democrats gained control of the House in 2006. That means that during Bush's term, the Democrats controlled the Senate for four years and they controlled both Houses for the last two years. They rebuffed all of the GOP's attempts to deal with Fannie Mae and Freddie Mac. They did absolutely nothing to get in front of the collapse in spite of the fact that they were in control of oversight for the last two years before the collapse. At what point do they assume any responsibility for anything? They have made a mess of things and it gets worse every day. Blaming Bush is childish and unfair and will not work for ever.

Posted by: TerryeC | April 28, 2010 6:26 PM | Report abuse

shrink:

I am not terrified of these numbers. The idea that the GOP is terrified by your ability to delude yourselves is just ridiculous.

So, we get this bogus poll, that is a complete outlier, packed with Democrats and Democrat leaning Independents and the headline is that people are tired of incumbents...that is the best you guys can do, even with a packed bogus poll, you hang onto Bush bashing as if it were a religion.

Never mind the fact that the Democrats have been in control of Congress for years now. Never mind the fact that everything they touch turns into a disaster..you just blame Bush. Pathetic.

Meanwhile Pew has Obama at 47% and last I heard they were not considered a right leaning outfit. And virtually every poll out there shows mounting support for the repeal of Obamacare and yet I am supposed to believe this poll, that gives Obama an edge on health care? Puhleaze...it is a pushpoll designed to make you feel better.

But the truth is the Democrats are a disaster, their policies lack public support and when it comes to the economy they are every bit as responsible as Bush for the collapse. The fact that they lack the courage to admit it just tells us what kind of people they really are.

The Obama economy will be one of high unemployment, high taxes, slow growth, big government and big deficits.

But you guys just keep living in that day dream, out here in the real world we will remember that when Bush was president, a lot more of us actually had a job.

Posted by: TerryeC | April 28, 2010 6:22 PM | Report abuse

shrink:

I am not terrified of these numbers. The idea that the GOP is terrified by your ability to delude yourselves is just ridiculous.

So, we get this bogus poll, that is a complete outlier, packed with Democrats and Democrat leaning Independents and the headline is that people are tired of incumbents...that is the best you guys can do, even with a packed bogus poll, you hang onto Bush bashing as if it were a religion.

Never mind the fact that the Democrats have been in control of Congress for years now. Never mind the fact that everything they touch turns into a disaster..you just blame Bush. Pathetic.

Meanwhile Pew has Obama at 47% and last I heard they were not considered a right leaning outfit. And virtually every poll out there shows mounting support for the repeal of Obamacare and yet I am supposed to believe this poll, that gives Obama an edge on health care? Puhleaze...it is a pushpoll designed to make you feel better.

But the truth is the Democrats are a disaster, their policies lack public support and when it comes to the economy they are every bit as responsible as Bush for the collapse. The fact that they lack the courage to admit it just tells us what kind of people they really are.

The Obama economy will be one of high unemployment, high taxes, slow growth, big government and big deficits.

But you guys just keep living in that day dream, out here in the real world we will remember that when Bush was president, a lot more of us actually had a job.

Posted by: TerryeC | April 28, 2010 6:20 PM | Report abuse

proud_conservative wrote "Yup, the public is definately blaming Bush and Republicans. That is hilarious! Go ahead, keep deluding yourselves. This is really funny stuff!
**************************************************************************************
What galactic do you live in. Poor GW, he is the victim of the ungreatful American and Iraqi peoples. He does not deserve it and the other hand what he deserves is the gillotine.

Posted by: postDC | April 28, 2010 6:12 PM | Report abuse

A recession is a business CYCLE contraction and actually NO president can be blamed for a cyclical economic event, just as weather has cycles of hot and warm weather…simple enough for you to grasp?

==

One born every minute.

You describe a fundamentally broken system and expect people to just accept it? As though economics has natural laws like physics and was created in the Big Bang, instead of being a set of quasi-religious beliefs that we are free to alter anytime.

Maybe we should stop manufacturing cold and flu medications because cold and flu are annually cyclical. That's some dumb argument you got there, chump.

Posted by: Noacoler | April 28, 2010 6:07 PM | Report abuse

IF you have made the “educated” decision to blame George Bush for the current state of the economy [AND everything else], you have chosen your political party WELL, the party of the scapegrace!

A recession is a business CYCLE contraction and actually NO president can be blamed for a cyclical economic event, just as weather has cycles of hot and warm weather…simple enough for you to grasp?

The catalyst for the economic downturn this country is experiencing, began with NON-conservative government individuals forcing lenders to loan money to home owners that were over leveraged and simply could not afford the home they had purchased.

Go on and listen to the political pundit or “entertainer” of YOUR choice OR get educated and do your own research. The truth is out there unless you are TOO lazy or mentally challenged to find it on your own!

Posted by: WTF54 | April 28, 2010 5:51 PM | Report abuse

Go ahead, act like journalists rather than cheerleaders for a change.

Posted by: TerryeC


wow, you're new in town. this is Liberal lala land central. those days ended long ago. they are still doing backflips about bringing down Allen. that was the pinnicle of their power and prestige. they gambled it all on the new guy, and lost.

now it is the long slow glide to mediocrity.

Posted by: Comrade_Zero | April 28, 2010 5:42 PM | Report abuse

REmber ..NO matter what you say positive about Bush these people do not care. ALL THEY CARE ABOUT IS THE RACE CARD...they feel their going to get something for nothing at others expense.Too lazy to work for it.
Wait until they feel the aftershock of Obama.

Posted by: rd62561 | April 28, 2010 5:39 PM | Report abuse

STAN21

A free press isn't free.
But look on the bright side.
Keep praying and
don't come back.

Posted by: shrink2 | April 28, 2010 5:36 PM | Report abuse

Don't be surprise if Bohner and McDonald start blaming Saddam Hussein and argue that it was the reason for invading Iraq. Funny thing about that will be that Rushy Limbauh will echo that rationalization and persuade his followers and Palin's and Bachman's that it is the honest true, so help me God.
Bush is not only guilty of bringing this nation down but committing crimes against humanity for he is yet to pay.

Posted by: postDC | April 28, 2010 5:35 PM | Report abuse

This poll is crap. Look at the demographics. The Washington Post made sure they got some good news in the poll by making sure they loaded it with Democrats. Right now, Democrats are at a virtual parity with the GOP in generic balloting. In the last election they won by 53 to 47 and yet in this poll the WaPo makes sure that the Democrats outnumber the Republicans not by 3% or even 7%, but by 23%. Come on.

Now, if you look at virtually every other polster from Gallup to Rasmussen to Quinnipiac Obama can not even break 50% and the GOP is tied with or passes the Democrats on who the public trusts the most. As for who they blame, the last Fox poll said that 66% think it is time for Obama to start taking responsibility and the Rasmussen poll puts it almost 50/50.

The truth is the Democrats have been bummed out lately so the Washington Post and ABC decided they would make them feel better by putting out a poll that says the country does not think they totally suck. Dream on.

As for Bush...he looks better with every passing day. And while the Washington Post is on the subject of who is responsible for the economic collapse, how about a hard hitting series of articles on the ties between the Democratic party, Fannie Mae, Freddie Mac and Goldman Sachs. Go ahead, act like journalists rather than cheerleaders for a change.

Posted by: TerryeC | April 28, 2010 5:35 PM | Report abuse

The Party of NO! will attempt to test Lincoln's old saying, "You can fool some of the people all of the time, all of the people some of the time, but not all of the people all of the time".

We shall see in what point in the above saying the November's elections actually do fall. So far, the GOP has come up with no solutions, only delay designed to allow them to blame the Democrats for nothing getting done. My favorite at this point is the GOP refusing to allow the financial reform bill out on the floor for discussion and amendments, because they are afraid some Republicans might actually take a bipartisan view of the bill, and suggest positive changes, and then actually vote for it! God help the GOP member who did if that should happen!!

No, much better to block it, and just say "Hell NO!" to the country, to quote Ms. Palin.

Posted by: atc333 | April 28, 2010 5:35 PM | Report abuse

TO: esheehy @ 3:56 and 3:57 p.m. (SIX identical posts!):

If you tell me who's paying you to blog-spam "The Fix," and what it is costing taxpayers, then I will tell you who I REALLY work for!

Hey Roz -- that's a good one, eh?

http://nowpublic.com/world/true-tales-lame-u-s-govt-psy-ops-censors
http://NowPublic.com/scrivener re: "Obama: Take Down Fusion Center Gestapo, Fire Secret Service Boss"

Posted by: scrivener50 | April 28, 2010 5:34 PM | Report abuse

My last comment was not posted because I was to negative so much for free press...

Posted by: STAN21 | April 28, 2010 5:32 PM | Report abuse

Enough said, all the Bush bashers are on line today. If I reamember right the last two years the DEM"S had control on all the
important places. Of course Fannie and May had nothing to do with the down fall of the housing arena not to say who was running the banking committees??? Well we
have what we have now and only two-half years left (we hope and PRAY-at least we can still do that, right now!!)

Posted by: STAN21 | April 28, 2010 5:29 PM | Report abuse

"Also at the height of the collapse Fannie/Freddi were only 18% of the subprime market."

The Republicans say this was bad, because F&F domination in the prime markets forced the private sector into the subprime fiasco. Because that was the only place they could compete, they had to do what they did.

Can we figure out what is wrong with that argument? Yes, we can.

Posted by: shrink2 | April 28, 2010 5:22 PM | Report abuse

This is easy: When Bush left office GDP was falling by 6.5% (last qtr if grew by 5.6%), the financial system was a mess, manufacturing was imploding and the economy was losing 750,000 jobs a month ( last month it added 162,000).

I work for a F100 company that is somewhat of a bell weather for the economy. Our business started to tank in 2007 and it's looking very strong now, we're about to start hiring in significant numbers soon. For those that think the stimulus didn't help - in 2009 state, local and federal spending kept us afloat. If that business wasn't there our business would have cratered. I'm sure other companies would tell you the same. The situation would be a lot worse.

And to the bafoons who blame the Dems for Fannie/Freddie collapse: who oversaw them during the Housing Bubble? A GOP Congress and WH that's who. To blame the Dems is laughable. Also at the height of the collapse Fannie/Freddi were only 18% of the subprime market. The unregulated investment banks went whole hog on repackaging zero interest, no income/asset verification and/or negative amortization loans. Those are the loans that tanked and kicked of the spiral. After the Bush SEC allowed the investment banks debt/equity ratios to reach ridiculous levels (30:1) they had no margin for error when things collapsed

Posted by: miglew | April 28, 2010 5:13 PM | Report abuse

"We are idiots for accepting this as we love our "parties". That attitude will be the death of us."

I agree, despising both parties as a starting point is a good place, and it is true, crony capitalism is not just wasteful, it kills.

The idea of a third party winning on the level of national relevance, is however, a non-starter. Even if it was before, Citizens United has sealed the deal. So we play the hand we are dealt. Republicans v. Democrats (well, plus Crist, Lieberman, Sanders...)

Some people believe the Republicans are better because they acknowledge government is bad or even evil and if they are elected they will make it worse, thereby showing the voters they were right...others believe
Democrats are better, because they promise to do good, to deliver a free lunch and to make government better, if not good.

But for me the choice is clear only because Democrats are less likely to do what Bush Cheney did in Iraq. Sure Democrats are less likely to pander to bigots, but Democrats pander to the Israeli right, to people in poverty, public employee unions, and lots of other dangerous and not so dangerous special interests. There is no good choice.


Posted by: shrink2 | April 28, 2010 5:05 PM | Report abuse

"where do you think all these toxic assets came from? Fannie Mae insuring charity loans."

By "Charity" loans I assume you're back on the CRA nonsense? Even Republicans completely disagree with this nonsense as most of the sub-prime loans (up to 90% by some estimates) were issued by financial institutions beyond the scope of CRA. Profit motive, lack of appreciation of risk (it was a truism that the value of real estate never goes down, wrong), cheap credit allowing for subprime loans to be profitable due to Chinese investment in the US real Estate market IOT keep their own economy growing, and regulators sitting on their hands allowing the bubble to continue to grow unabated.

Son now big bad Barney Frank blocked reform (when Raines, who was last time I checked one of the big bad boogeymen for Conservatives with the whole scandal, supported Bush's reform effort)? Wait a minute, Republicans had majorities in both houses. What parliamentary procedure did Frank have for blocking reform? Did the Senate filibuster?

The truth: the reform that was brought up by Bush was a reaction to an accounting scandal within Freddie, but no one followed up on it. In 2003-2004, there were 8 bills proposed on financial reform, only one of which the White House weighed in on, S.1656 - referenced with the 11 Sep speech in the NY Times, and it was authored by - wait for it - Sen John Corzine (D-NJ). The bill died in committee in the Senate. Doesn't sound like much of a priority.

In 2005, the House approved by a 331-90 vote HR 1461, but the Senate never acted on it. It wasn't until 2007 that Pelosi introduced HR 3221, largely the same reform bill proposed in 2003 and 2005, which became law in July 2008. So, how again is this bill not being passed the Democrat's fault?

Posted by: kreuz_missile | April 28, 2010 4:58 PM | Report abuse

Four stories highlighted in the afternoon edition. AND, each of the four are an attempt to cover up the demonkrats absolute STOMPING on the will of the voters for the past 16 months. Losing reader/viewership at 10% a year!!! Bye, bye "mainstream press."

Posted by: IQ168 | April 28, 2010 4:55 PM | Report abuse

Bush spent too much and the 2006 takeover by the DEMs, both houses, certainly sped things along. Obama has heaped more debt on us than all former Presidents combined. These idiots have lied, stolen our money and now they will raise taxes but yet, they won't stop spending. We are idiots for accepting this as we love our "parties". That attitude will be the death of us.

Posted by: Jackets | April 28, 2010 4:47 PM | Report abuse

For those who think Obama has made the economy worse: since Obama has taken office, the stock market has rallied with the DOW going from 7,000 to 11,000, which saved a lot of retirement funds. The country has gone from 700,000 jobs lost per month to 160,000 gained per month. The GDP has gone from a -6.4% to a +5.9% annual rate. The U.S. trade deficit has dropped by 44%. Home sales increased by 6.8% in March. Under Obama, the $700 billion-budgeted TARP has recovered so much of its funds that its cost has now become $89 billion and it continues to shrink. Obama saved GM and with it, tens of thousands of jobs, and GM has repaid all its government loans with interest. As the economy turns around, people will see that Dem governance works compared to GOP economic collapse.

Posted by: zvelf | April 28, 2010 4:45 PM | Report abuse

useless MSM propaganda....typical of WaPo and MSM....but.

the "conservatives" and GOPers need to admit that W and HIS fascist economics and Soviet Imperialism were/are W's babies....and Obama is merely continuing them....

the GOP rail on Obamas socialism..well Mussolini-like corporatism..and refuse(d) to condemn W's....

To be consistant on accuracy of blame and accountability....sure we can go back to the Reagan debt explosian...the Johnson HEW floodgates...the FDR socialist alphabet agency government...but need to go back to the ABSOLUTE puppet of the Elite(even more than W and Clinton and Obama!!!) Woodrow Wilson and his(well his bankster handlers) installing of the Marxist "Federal" Reserve Bank and its fiat currency/central bank thievery and its evil twin the Marxist Income Tax.

Stop blaming Obama or Bush, Dems or Repugs, Libs or Conservatives...need to go back to the real "cause" and the REAL solution..NOT econometric gibberish or printing press runamock or partisan namecalling and "committees"...but Congressionally ABOLISH these two monsters who have SINCE 1913 destroyed our legal and financial structure and have enslaved Americans to thier government, thier jobs, their house...

and it is BIPARTISAN.

Posted by: ChrisBieber | April 28, 2010 4:39 PM | Report abuse

Just goes to show that the public isn't quite as stupid as the GOP continues to believe them to be. However, presidents cannot destroy an economy without congress. As Orin Hatch's gaffe revealed the Senate didn't worry about how to pay for anything under the Bush administration and they, also, made no attempt to control spending. Congress became as corrupt and dysfunction as they are today because the blame always gets laid at the feet of the executive branch and in reality the legislative branch has the power.

Posted by: xclntcat | April 28, 2010 4:34 PM | Report abuse

you need to make a distinction between conforming loans and not. Fannie has an overwhelming share of those, forcing the higher risk loans to others, in essence crowding out the competition and making it riskier/more expensive.

I apologize to the rest of you true liberals for making sense about economics.

Posted by: Comrade_Zero | April 28, 2010 4:33 PM | Report abuse

Thanks for the comedy, got a good laugh from the "neutral" Washington Post / ABC poll. Yup, the public is definately blaming Bush and Republicans. That is hilarious! Go ahead, keep deluding yourselves. This is really funny stuff!

==

Yeah anyone who wants the truth should ask you and your minions in the break room at the Hormel plant.

Posted by: Noacoler | April 28, 2010 4:26 PM | Report abuse

"Fannie and Freddie's access to cheap capital and the taxpayers' pocketbook helped run up housing prices to unsustainable levels, while crowding out lenders and investors who could not afford to compete against these government-sponsored juggernauts."

Crowded out lenders and investors who could not afford to compete?

Laughing...too...much...
Tell that to Fabulous Fabrice,
tell that to Countrywide.
Stop it, stop tickling me, I can't breathe...

Who comes up with this stuff?

Everyone knows Fannie and Freddie helped run up property values, but the rest of that sentence is hilarious.

Posted by: shrink2 | April 28, 2010 4:25 PM | Report abuse

rmcnicoll :

Excellent post on the GW Bush presidential Library-would be funny if it wasn't so soberingly true.

That clown had our economy in free fall 4 months before Obama even came to office - and every wingnut & his retard brother wants to lay the crisis at Obama's feet. Truth is that the President is going to have to spend his entire first term cleaning up Bush's mess. No surprises - Bush's m.o. has always been to screw everything up & then walk away & leave others to take care of it - examples - took millions from dad's buddies & then walked away after he couldn't find any oil in Texas. Or when he traded Sammy Sosa to the cubs & then walked away from the Rangers (much to their relief, probably).

Posted by: icon1 | April 28, 2010 4:25 PM | Report abuse

Thanks for the comedy, got a good laugh from the "neutral" Washington Post / ABC poll. Yup, the public is definately blaming Bush and Republicans. That is hilarious! Go ahead, keep deluding yourselves. This is really funny stuff!

Posted by: proud_conservative | April 28, 2010 4:20 PM | Report abuse

Poor clueless Ped.

the method to eliminate recessions is to lower taxes. It is tried and true. Raising spending has been so last century since even before Kennedy. but you probably think that was our glory days if I recall properly. your imbecilic ramblings are nearly impossible to track. Except:

Israel Bad
God Bad
Capitalism Bad
Palin bad

sandboxes good
Vietnam good
communism Good


since your own work history and education is so spotty, we must assume that although you prefer to be an elitist along those lines, you clearly don't carry any substantial credentials, so you simply ignore them. typical liberal.

We all know by now that even Sarah Palin is smarter than you, richer than you, more succesful than you, better liked than you, better looking than you (she has hair), more reasonable than you, more succesful that you, happier than you, better adjusted than you, etc. yet you rail on her, to your own detriment.

Poor lonely Ped.

Posted by: Comrade_Zero | April 28, 2010 4:16 PM | Report abuse

Of course the bad economy that Buah left behind will be with us for some time. Obama is getting a handle on it and reversing the slide, but hard core conservatives like the Tea Baggers will continue to blame Obama. The economy has turned around dramatically under Obama but it will take years to dig us out of the hole that bush dug for our economy. Although I think the health care plan could have been more robust, at least he got a rein on the runaway health care costs and other abuses. We should all say a loud "Thank you Mr. President" for not being George W. Bush.

Posted by: rbeigher | April 28, 2010 4:14 PM | Report abuse

thanks -- worth repeating:

The George W. Bush Presidential Library is now in theplanning stages.
The Library will include:

The Hurricane Katrina Room, which is still under construction.

The Alberto Gonzales Room, where you won’t be able to remember anything.

The WaterBoarding Is FUN, not Torture at all Room.

The Colonel Miller “Enhanced Interrogation Methods Room”: Dogs, sexual degradation, nooses, extreme heat/cold Room.

The Texas Air National Guard Champagne Room, where you don’t even have to show up to avoid VietNam.

The Walter Reed Hospital Room, where they don’t let you in, and if get in Nobody Sees You.

Voodoo Economics Room, where $ 5 Billion per month Wars are “OFF FEDERAL BUDGET”.

The Guantanamo Bay Room, where they don’t ever let you out, even if not guilty.

The "Weapons of Mass Destruction" Room, which no one has been able to find.

The National Debt Room, which is huge and has no ceiling. How to take a $ 252 Billion Surplus and Lose $ 5 Trillion in eight years, increasing National Deficit from $ 5 Billion to $11 Billion.

The Tax Cut Room, with entry only to the wealthy.

The Economy “Is Strong ‘n Steady Room”, which is in the toilet.

The Iraq War Room. After you complete your first tour, they make you to go back for a second, third, fourth, and sometimes fifth tour. Volunteers Only, no Republican wealthy sons and daughters.

The Dick Cheney Secret Energy Meeting Room, ta Invade Eye-Rak.

The Dick Cheney Control Room, in the famous undisclosed location, with Andrews Jets 9/11 standdown .

The Clear Skies Room, removing Power Plant Coal burning Emission regulations.

The Environmental Conservation Room, still empty.

The Supreme Court’s Gift Shop, where Corporations can spend All “Free Speech” Money in U. S. elections.

The Airport Men’s Room, where you can meet some of your favorite "wide stance" Republican Senators and Senate Pages.

The Decider Room, complete with Intercom to Cheney Secret Location Room, and W’s Skull & Bones magic 8-ball.

The museum will also have original "Mission Accomplished" Banner, 'cuz he got Republican Congress to increase his Presidential retirement from $ 200,000 to $ 400,000 per year, tax free, forever!

Posted by: rmcnicoll | April 28, 2010 3:38 PM | Report abuse

Posted by: drindl | April 28, 2010 4:12 PM | Report abuse

Of course the bad economy that Buah left behind will be with us for some time. Obama is getting a handle on it and reversing the slide, but hard core conservatives like the Tea Baggers will continue to blame Obama. The economy has turned around dramatically under Obama but it will take years to dig us out of the hole that bush dug for our economy. Although I think the health care plan could have been more robust, at least he got a rein on the runaway health care costs and other abuses. We should all say a loud "Thank you Mr. President" for not being George W. Bush.

Posted by: rbeigher | April 28, 2010 4:12 PM | Report abuse

"Don't ask Bawney what he thinks:"

is this person 5 years old, or trying to pass as 5 years old? i'm not sure what this is trying to accomplish -- anyone know?

Posted by: drindl | April 28, 2010 4:10 PM | Report abuse

clearly obama took over a bad economy and made it worse because he continuing most of the same spend spend spend policies which got us into the mess

==

So is it your contention that the way to address a deep recession is to cut government spending?

Hoover tried that. Didn't work too well. Maybe you should rethink.

Posted by: Noacoler | April 28, 2010 4:04 PM | Report abuse

''These two entities -- Fannie Mae and Freddie Mac -- are not facing
any kind of financial crisis,'' said Representative Barney Frank of
Massachusetts, the ranking Democrat on the Financial Services
Committee. ''The more people exaggerate these problems, the more
pressure there is on these companies, the less we will see in terms of
affordable housing.''

>>>>>>>>>>>>>

this is liberal economic acumen. Beware!

who's for letting Bawney and Dudd fix what they wrought?

Posted by: Comrade_Zero | April 28, 2010 4:01 PM | Report abuse

actually, both are at fault. the WaPO set it up as a binary choice because they know barack obama's best argument right now is "I'm not as bad as Bush". Yeah, mediocrity we can believe in.

clearly obama took over a bad economy and made it worse because he continuing most of the same spend spend spend policies which got us into the mess.

ITS THE SPENDING STUPID.

just ask Greece...and Portugal...and Spain...and basically all the other European social market democracies that Obama wants to make us like.

Posted by: dummypants | April 28, 2010 3:58 PM | Report abuse

Posted by: scrivener50
'TORTURE TOWER' PSY OPS ON A FIXISTA?

I checked out your links, great stuff. Do you write for the Onion?

Posted by: esheehy | April 28, 2010 3:57 PM | Report abuse

Posted by: scrivener50
'TORTURE TOWER' PSY OPS ON A FIXISTA?

I checked out your links, great stuff. Do you write for the Onion?

Posted by: esheehy | April 28, 2010 3:57 PM | Report abuse

scrivener50 Re: 'TORTURE TOWER' PSY OPS ON A FIXISTA?

I checked out the links, great stuff. Do you write for the Onion?

Posted by: esheehy | April 28, 2010 3:56 PM | Report abuse

scrivener50 Re: 'TORTURE TOWER' PSY OPS ON A FIXISTA?

I checked out the links, great stuff. Do you write for the Onion?

Posted by: esheehy | April 28, 2010 3:56 PM | Report abuse

scrivener50 Re: 'TORTURE TOWER' PSY OPS ON A FIXISTA?

I checked out the links, great stuff. Do you write for the Onion?

Posted by: esheehy | April 28, 2010 3:56 PM | Report abuse

scrivener50 Re: 'TORTURE TOWER' PSY OPS ON A FIXISTA?

I checked out the links, great stuff. Do you write for the Onion?

Posted by: esheehy | April 28, 2010 3:55 PM | Report abuse

Don't ask Bawney what he thinks:

According to the "Financial Services Committee Republican Plan for Reforming Fannie Mae and Freddie Mac," posted on March 26, it's not just the collapse in housing these GSEs are responsible for, but the entire economic crisis.

"The evidence is clear that the Government Sponsored Enterprises (GSEs) - specifically, Fannie Mae and Freddie Mac - were the proximate cause of the economic crisis," the Republican plan explained. "Ultimately supported by the taxpayers to the tune of hundreds of billions of dollars, Fannie and Freddie permitted their executives, investors, and creditors to make outsize profits when times were good, but stuck taxpayers with the tab when the housing bubble burst. Fannie and Freddie's access to cheap capital and the taxpayers' pocketbook helped run up housing prices to unsustainable levels, while crowding out lenders and investors who could not afford to compete against these government-sponsored juggernauts."

And as Business & Media Institute adviser John Lott pointed out on his blog on April 7, the notion that Fannie Mae and Freddie Mac played pivotal role in the financial isn't just a Republican talking point, but also one that former Federal Reserve Chairman Alan Greenspan testified to in front the Financial Crisis Inquiry on April 7.

"While the roots of the crisis were global, it was securitized U.S. subprime mortgages that served as the crisis' immediate trigger," Greenspan said. "The surge in demand for mortgage back securities was heavily driven by Fannie Mae and Freddie Mac which were pressed by the Department of Housing and Urban Development and the Congress to expand affordable housing commitments."

The federal government was forced to bail Fannie and Freddie out in 2008 to avert what some believed would have been a complete collapse of the U.S. financial system. Peter Wallison, a fellow at the American Enterprise Institute and considered by many to be the one of the foremost experts on these government-sponsored enterprises, wrote for the Wall Street Journal on April 20 this bailout isn't cheap.

"The Congressional Budget Office has estimated that, in the wake of the housing bubble and the unprecedented deflation in housing values that resulted, the government's cost to bail out Fannie and Freddie will eventually reach $381 billion," Wallison wrote. "That estimate may be too optimistic. Last Christmas Eve, Treasury removed the $400 billion cap on what the government might be required to invest in these two GSEs in the future, and this may tell the real story about the cost to taxpayers. In typical Washington fashion, everyone has amnesia about how this disaster occurred."

Posted by: Comrade_Zero | April 28, 2010 3:55 PM | Report abuse

That is true CC, but that will be when the economy is recovered so calling it the Obama economy then will be a good thing. This poll should terrify the GOP. The economy and the military has always been the Republican's gravy train and from every poll I have seen in a while Obama polls better on both categories.
**********

if the american electorate looked anything like this WaPo polls pretends it does, you might be on to something. unfortunately for democrats, gallup has the party ID at basically even in the poll from yesterday (dems up by 1 actuallY) whereas this WaPo poll uses a sample that has dems as +12. the rasmussen poll is a much more representative of what the electorate is thinking.

and THAT should scare dems. this whole time they have been saying that their mistakes, arrogance and recklessness wont hurt them because republicans arent popular. the gallup poll shows this isnt the case.

Posted by: dummypants | April 28, 2010 3:54 PM | Report abuse

Most everyone with a healthy dose of self esteem considers themselves underemployed. Most people feel their skills are underappreciated and undercompensated and some day their true value will, or at least should be, recognized.

Fabulous Fab seems to be the exception, he knew he was a charlatan.

Posted by: shrink2 | April 28, 2010 3:50 PM | Report abuse

the bush economy (highlighted by the 4.5% unemployment) started being wrecked in 2006 when nancy pelosi took over and let barney frank and chris dodd unlease Fannie Mae(Rahm Emmanuel's old employer) on the US mortgage system and financial system.

where do you think all these toxic assets came from? Fannie Mae insuring charity loans.

and then obama has us at 10% unemployment even though he admits it would have stayed below even 9% if we done his massive 1 trillion dollar intervention into the US economy known as the "stimulus".

Posted by: dummypants | April 28, 2010 3:49 PM | Report abuse

Don't start on that poll stuff or Broadway BJ will show up and start ranting about coakley still being ahead in the only "sanctioned" poll. then they will site some Kos poll showing Obama approval rating at 112%.

Posted by: Comrade_Zero | April 28, 2010 3:49 PM | Report abuse

Just goes to show you how the Obama MSM has the population of this country still drinking the Obama Kool Aide. After being in office for going on a year and half and passage of the Obama stimulus, Obama jobs bills 1 thru however many, Obamacare, etc. and with a completely Democratic dominated congress, Bush is still getting the blame for the lousy economy? And by the way the Democrats controlled congress during Bush's last two years in office. Come on! I don't know that I really trust a poll from the Post anyway since they always seem to have Obama and the Democrats doing much better than all the other polls.

Posted by: RobT1 | April 28, 2010 3:45 PM | Report abuse

is obsessing about me really the only thing you have to do with your time?

>>>>>>>>>>>>>>>>>

If you and your liberal stooges weren't so raucously ignorant, it would be easier to simply ignore your ravings.

I do understand how having a single interloper on your otherwise pristine and clueless liberal admiration zone can be troubling.

but simple economics is not for the weak of mind. It is best you stay away. Ped thinks it's magic. He still can't figure out why all the natives like the shiny metal stuff. drivl's view of economics is whatever she can find in the couch.

Posted by: Comrade_Zero | April 28, 2010 3:43 PM | Report abuse

hey kenpasadena, you left the argument unfinished.

Is it your contention that the state of the economy ISN'T Bush's doing?

Do you expect others to forget the recent memory of the 9/15/8 collapse happening BEFORE Obama was elected?

Or are you really so far "out there" that you blame it on anticipation of "liberal economics" coming back into power or some twaddle like that?

Don't expect people with whole minds to forget recent history for you.

Posted by: Noacoler | April 28, 2010 3:41 PM | Report abuse

The George W. Bush Presidential Library is now in theplanning stages.
The Library will include:

The Hurricane Katrina Room, which is still under construction.

The Alberto Gonzales Room, where you won’t be able to remember anything.

The WaterBoarding Is FUN, not Torture at all Room.

The Colonel Miller “Enhanced Interrogation Methods Room”: Dogs, sexual degradation, nooses, extreme heat/cold Room.

The Texas Air National Guard Champagne Room, where you don’t even have to show up to avoid VietNam.

The Walter Reed Hospital Room, where they don’t let you in, and if get in Nobody Sees You.

Voodoo Economics Room, where $ 5 Billion per month Wars are “OFF FEDERAL BUDGET”.

The Guantanamo Bay Room, where they don’t ever let you out, even if not guilty.

The "Weapons of Mass Destruction" Room, which no one has been able to find.

The National Debt Room, which is huge and has no ceiling. How to take a $ 252 Billion Surplus and Lose $ 5 Trillion in eight years, increasing National Deficit from $ 5 Billion to $11 Billion.

The Tax Cut Room, with entry only to the wealthy.

The Economy “Is Strong ‘n Steady Room”, which is in the toilet.

The Iraq War Room. After you complete your first tour, they make you to go back for a second, third, fourth, and sometimes fifth tour. Volunteers Only, no Republican wealthy sons and daughters.

The Dick Cheney Secret Energy Meeting Room, ta Invade Eye-Rak.

The Dick Cheney Control Room, in the famous undisclosed location, with Andrews Jets 9/11 standdown .

The Clear Skies Room, removing Power Plant Coal burning Emission regulations.

The Environmental Conservation Room, still empty.

The Supreme Court’s Gift Shop, where Corporations can spend All “Free Speech” Money in U. S. elections.

The Airport Men’s Room, where you can meet some of your favorite "wide stance" Republican Senators and Senate Pages.

The Decider Room, complete with Intercom to Cheney Secret Location Room, and W’s Skull & Bones magic 8-ball.

The museum will also have original "Mission Accomplished" Banner, 'cuz he got Republican Congress to increase his Presidential retirement from $ 200,000 to $ 400,000 per year, tax free, forever!

Posted by: rmcnicoll | April 28, 2010 3:38 PM | Report abuse

Let's see if the one in five workers in this country who consider themselves under employed or worse think they are better off under the Obimbo regime.

not to mention all their networks of friends and relatives.

but I understand you incestuous liberals don't even know anyone who voted for McCain or Bush. Liberals like to say they are in the helping profession.

Helping themselves to other people's money.

Posted by: Comrade_Zero | April 28, 2010 3:34 PM | Report abuse

"This poll should terrify the GOP,"

said Andy. Of course they are, being terrified by numbers they don't like is their Brand.

They think stoking their own dumpster fire is the way to win. But, "afraid of Democrats" is a tactic, not a strategy.

Posted by: shrink2 | April 28, 2010 3:30 PM | Report abuse

is obsessing about me really the only thing you have to do with your time?

==

just ignore him, he's not worth anyone's time here.

he's like some nasty little kid sitting in the corner muttering evilly and hoping someone will pay attention. It's the same crap every day. To hell with him, just PgUp past him.

Posted by: Noacoler | April 28, 2010 3:29 PM | Report abuse

The ABC/WP poll is so "pro-Obama" it's laughable. In Obamaland, everything is still Bush's fault. Obama will run for re-election in 2012 based on everything GB did wrong. Most polls show Obama below 50% approval and have shown below 50% for quite some time. I guess we'll find out in November what the country thinks about Obamaland.

Posted by: kenpasadena | April 28, 2010 3:29 PM | Report abuse

Thanks for asking Zero. Not only are we better off financially, our frame of mind is vastly improved as well. Again, thanks for asking. You too should be feeling better soon as your number exceeds zero.

Posted by: hoser3 | April 28, 2010 3:28 PM | Report abuse

'TORTURE TOWER' PSY OPS ON A FIXISTA?

Correction:

Scrivener typed "TORTURE TOWERS" in the headline of the comment, below. It came up as "TOWER TOWERS" on this site.

FYI, a common tactic of "psy ops" censors who intercept internet telecommunications in real-time is to insert spelling and grammatical errors -- so as to diminish the credibility of the intercepted comment (which, interestingly did NOT immediately post).

How can they do that? Read these articles by a veteran journalist who is apparently under siege by a rogue security bureaucracy:

http://nowpublic.com/world/u-s-govt-censors-net-political-speech-targeted-americans
http://nowpublic.com/world/how-u-s-spy-ops-censor-web-political-speech

OR NowPublic.com/scrivener re: "Obama: Take Down Fusion Center Gestapo, Fire Secret Service Boss"

Posted by: scrivener50 | April 28, 2010 3:25 PM | Report abuse

The worst drops in several months for the Dow, NASDAQ and stock markets worldwide came in the wake of this news: pathetic little Greece has had its debt downgraded to junk status, its credit rating tossed into the wine dark sea.

The junk rating, unusual for a developed nation, deepened fears that big fiscal deficits and debt burdens elsewhere could threaten the economic recovery in Europe. Stock markets on both sides of the Atlantic tumbled about 2 percent or more after the downgrade by Standard & Poor's.
Many sympathetic with Greece's plight will just blame the Germans, but there's no one to blame but the Greeks themselves and their progressive-socialist ways.

While the immediate fear is driven by Germany's grudging attitude toward bailing out Greece, some economists think Greece's growth prospects are so weak the government won't … collect enough taxes to be able to pay its bills years down the road. Worsening the country's plight is rising yields, which Monday neared double digits. The country's finance minister called current rates for raising funds "prohibitive."

There will be no rosy fingers of dawn to greet a Greek economic resurrection anytime soon. With the Democrats' insane deficit spending and debt-to-GDP percentages rising to historic levels, can we be too far behind? We think not, with the Obama regime and the Demonrats in charge.

Posted by: Comrade_Zero | April 28, 2010 3:22 PM | Report abuse

I agree. George "W"acko Bush took a huge Texas dump on our countries economy.

Posted by: hoser3 | April 28, 2010 3:21 PM | Report abuse

"did you find some change in the cushions again? no wonder you love it when he sleeps on the couch.

Posted by: Comrade_Zero | April 28, 2010 3:10 PM | Report abuse "

is obsessing about me really the only thing you have to do with your time?

Posted by: drindl | April 28, 2010 3:20 PM | Report abuse

I was doing fine two years ago, but I'm doing even better now, for which I thank our President and his competent management.

We're getting out of Iraq, I hope we soon get out of Afghanistan, we have the first real stab at reforming healthcare in decades, we have regulation of the financial markets on the way, the Republicans are in disarray, life is good.

Posted by: Noacoler | April 28, 2010 3:18 PM | Report abuse

can they remind the voters how close we came to the economic abyss, and how the policies enacted stopped what could have been a disaster

>>>>>>>>>>>>>>

I have no doubt you Libs would love if this fiction became the reigning "Story of O'. The reality is more like the movie.

Posted by: Comrade_Zero | April 28, 2010 3:15 PM | Report abuse

Every sane American citizen blames Comrade Bush and the GOP for the economy.

And no amount of filibustering without standing up in person to be counted as they read from telephone books will change that.

In November, the West will go Dark Blue. We have initiatives and proposition on legalizing Marijuana and on Income Taxes for the Rich.

This is the end for the Whig Party (GOP).

Posted by: WillSeattle | April 28, 2010 3:13 PM | Report abuse

have other things to do than hang out on this blog all day.

Posted by: drindl | April 28, 2010 2:55 PM
... (hundreds of posts)
Posted by: drindl | April 28, 2010 9:21 AM

did you find some change in the cushions again? no wonder you love it when he sleeps on the couch.

Posted by: Comrade_Zero | April 28, 2010 3:10 PM | Report abuse

HOW -- AND WHEN -- WILL OBAMA DEAL WITH THE HOMELAND "TOWER TOWERS" REVELATIONS?

A multi-agency program of silent microwave/radio frequency irradiation of "targeted" Americans from a nationwide network of Homeland cellular "torture towers" CANNOT be covered up.

http://www.nowpublic.com/world/u-s-silently-tortures-americans-cell-tower-microwaves

If President Obama does not take down the cabal responsible for these covert atrocities, he will go down in history as the President who refused to take a stand against Bush-Cheney- spawned DOMESTIC torture and terrorism aimed at American citizens.

SECRET HOMELAND-LED PROGRAM SILENTLY ASSAULTS, TORTURES, IMPAIRS, SUBJUGATES AMERICANS WITH NATIONWIDE CELL TOWER MICROWAVE/LASER 'DIRECTED ENERGY' WEAPON SYSTEM, FINANCIAL SABOTAGE, COMMUNITY-BASED VIGILANTE HARASSMENT: VETERAN JOURNALIST

http://nowpublic.com/world/gestapo-usa-govt-funded-vigilante-network-terrorizes-america

BUCKS COUNTY, PA- BASED MAGLOCLEN FUSION CENTER: "Centcom for a Mid-Atlantic States American Gestapo."

Where Is the D.O.J./Civil Rights Division Investigation?

http://nowpublic.com/world/gestapo-usa-govt-funded-vigilante-network-terrorizes-america

OR NowPublic.com/scrivener RE: "Obama: Take Down Fusion Center Gestapo, Fire Secret Service Boss"

Posted by: scrivener50 | April 28, 2010 3:09 PM | Report abuse

"Are you better off than you were two years ago?"

Yes, I am. And I credit the current administration for that improvement.

Thank you for asking an easy question with an obvious answer.

Posted by: Gallenod | April 28, 2010 3:08 PM | Report abuse

Are you better off now than 2 years ago? I for one am better off than I was two years ago. In fact last year was our best year since 1998. That being said, the question is stupid. The economy was in a nose dive. Obama pulled it out and we are headed back up. We are not at pre-recession levels but we did not smack into the ground. I swear there are people who will whine about having to buy a new wallet if they won the lottery.

Posted by: thomgr | April 28, 2010 3:07 PM | Report abuse

Obama is back to his RACIAL POLITICS


NOW who is the RACIST ????


.

Posted by: 37thand0street | April 28, 2010 2:59 PM | Report abuse

try to keep up, old goat.
Posted by: Comrade_Zero


so sorry, little pr*ck... i have other things to do than hang out on this blog all day.

Posted by: drindl | April 28, 2010 2:55 PM | Report abuse

Rasmussen -- LOL. The running joke in political circles.

Posted by: drindl | April 28, 2010 2:48 PM | Report abuse

Right now, all but three of the leading indicators are up (leading meaning they precede recovery), but most of them are abstract economic points that the average voter doesn't care about.

http://www.bloomberg.com/apps/news?pid=20601103&sid=a.0XkrluprO4

Money supply, capital orders, and consumer expectations were the only leading indicators to drop. Unemployment is both a leading and a lagging indicator, with payroll enrollments beign a leading and sustained employment being a lagging indicator. Payroll enrollments are pointed up to, the big question for everyone right now is whether or not it is sustainable.

The question is more in the media narrative in many cases. Can Obama and the Democrats find a way to say, 'we face many challenges on the jobs front, but the future continues to look bright,' and have the narrative take hold. At the same time, can they remind the voters how close we came to the economic abyss, and how the policies enacted stopped what could have been a disaster, saying of Republicans that they lit the house on fire and are now complaining about how much water we used to put it out. This hits the leading indicator of consumer expectations directly, and fuels the political narrative for the election.

Posted by: kreuz_missile | April 28, 2010 2:46 PM | Report abuse

The New York Times
September 11, 2003
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON

The Bush administration today recommended the most significant
regulatory overhaul in the housing finance industry since the savings
and loan crisis a decade ago.

....


Among the groups denouncing the proposal today were
the National Association of Home Builders and Congressional Democrats
who fear that tighter regulation of the companies could sharply reduce
their commitment to financing low-income and affordable housing.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing
any kind of financial crisis,'' said Representative Barney Frank of
Massachusetts, the ranking Democrat on the Financial Services
Committee. ''The more people exaggerate these problems, the more
pressure there is on these companies, the less we will see in terms of
affordable housing.''

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

''I don't see much other than a shell game going on here, moving
something from one agency to another and in the process weakening the
bargaining power of poorer families and their ability to get
affordable housing,'' Mr. Watt said.

Posted by: Comrade_Zero | April 28, 2010 2:27 PM | Report abuse

dingbat drivl, that deregulation argument was destroyed on the previous thread.

try to keep up, old goat.

Posted by: Comrade_Zero | April 28, 2010 2:22 PM | Report abuse

"Just when did this downturn begin. right about the time Nancy took over the house.
Hmmmmmm.

Posted by: Comrade_Zero"
-----
Comrade_Zerobrains - The Financial meltdown of 2008 was set into motion specifically by the end of the housing boom in 2006.

Dems took over in 2007.

Posted by: JRM2 | April 28, 2010 2:21 PM | Report abuse

Arizona has two embattled Republicans in Gov. Jan Brewer and Sen. John McCain who are both facing primary challenges, but while one new poll shows Brewer's stock going up after signing a tough law to crack down on illegal immigrants, another found what it called "a Charlie Crist like drop" in McCain's job approval numbers. A Rasmussen Reports poll conducted April 27 said that Brewer had widened her lead over Democrat Terry Goddard, the state attorney general, to 48 percent to 40 percent with 7 percent preferring another choice and 5 percent undecided.

moral: ignore the moonbats. do the right thing.

Posted by: Comrade_Zero | April 28, 2010 2:20 PM | Report abuse

"A new Washington Post/ABC poll suggests that most Americans continue to blame the sluggish economy on former President George W. Bush"

As well they should -- he is one that caused it. Republican deregulation was the root cause of every single thing that fell apart.

It's a good thing people remember this.

Posted by: drindl | April 28, 2010 2:20 PM | Report abuse

Are you better off than you were two years ago?

Just when did this downturn begin. right about the time Nancy took over the house.

Hmmmmmm.

Obama is not on the ballot this year. By the next time he is, the mess will rest squarly on his shoulders. for now, it is sufficient to blame the current congress, and we all know who is running that circus.

Posted by: Comrade_Zero | April 28, 2010 2:16 PM | Report abuse

This is perhaps THE confounding factor in the efforts of Republicans to repeat 1994. Back then, you couldn't blame them for anything. Republicans hadn't controlled the House in like 50 years. In 2010? Not so much. Everyone knows the damage the Republicans did to our country and people apparently realize that Republicans are to blame for the economic conditions.

Not to say I'm not surprised. I really thought that people might have forgotten what went on under Bush.

Posted by: DDAWD | April 28, 2010 2:10 PM | Report abuse

"There's little doubt that at some point in the future -- whether that comes later this year in 2011 or even in 2012 -- people will begin to describe it as the "Obama economy"

That is true CC, but that will be when the economy is recovered so calling it the Obama economy then will be a good thing. This poll should terrify the GOP. The economy and the military has always been the Republican's gravy train and from every poll I have seen in a while Obama polls better on both categories.

Posted by: AndyR3 | April 28, 2010 2:06 PM | Report abuse

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