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McCain's $300,000,000,000 scam

Discussion in 'Politics, Elections & Legislation' started by CharlesK80, Oct 7, 2008.

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  1. CharlesK80

    CharlesK80 Member

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    Now he wants the federal government in the home mortgage business. Under his new plan just announced tonight, US govt would buy back all home mortgages in default. Is he nuts? At an estimated cost of 300 billion dollars.

    Good news for all you free loading Republican welfare types.

    Where is the money coming from to pay for yet another Republican big government program? On top of the $700,000,000,000 for the Wall St bail job.

    More Republican welfare.

    Republicans have left us with a $1,000,000,000,000 new problem. Bush started with a surplus. Now the biggest deficit ever.

    This election is over.

    If the Republican big govt, big deficit types on TS.com can't smell it, listen up.

    It is time to change the dippers in Washington.
     
  2. JH

    JH Well-Known Member

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    RED ALERT.......Moveon.org trolls are out doing damage control....ignore this thread.....Moveon.org employees at work.....ignore this thread!


    VOTE MCCAIN/PALIN OR LOSE YOUR GUNS!
     
  3. stokinpls

    stokinpls Well-Known Member

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    "Bush started with a surplus."

    Yeah, just like,"There's nothing wrong with Fannie Mae and Freddie Mac, leave it alone." and "There's nothing wrong with Social Security, leave it alone."
     
  4. zinger

    zinger Member

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    the 300 is part of the 700 not ontop of
     
  5. W.P.T.

    W.P.T. TS Member

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    The surplus that Bush started with was on paper only and never did exist ... Thats the way the Democrates work if you didn't know ... WPT ... (YAC) ...
     
  6. SwannyinMinn.

    SwannyinMinn. TS Member

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    What do you mean on paper and never existed?! Is this $300B on paper and not going to exist? I hope so.........
     
  7. Rico46

    Rico46 TS Member

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    The surplus budget that Bush inherited from the Clinton administration was only a one year budget. It wasn't a debt free national budget. We were trillions still in debt. President Bush has ran up the largest debt in history. No wonder he can speak well when he is on TV. As a conservative, I could puke. Bush, Cheney and both sides of Congress sold us down the toilet for the likes of EXXON, Bechtel and Goldman Sachs.

    Rick Brohmer
     
  8. jimbotrap

    jimbotrap TS Member

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    Pres. Bush attempted to put through some controls on the financial system in 2003, it was voted down by congress led by Pelosi and Frank and with the support of Obama. In 2005 McCain again tried to put some controls on Fanny and Freddie, again turned down by congress. And Sen. Obama was very vocal in leaving the program as is, or even lowering standards so lower income families could afford housing.

    Now Sen. Obama said he tried to warn everyone 1 or 2 years ago. But he fails to say who he warned and provide proof of same.

    I will agree Pres. Bush has not been the best President we have had, but none the less, our problems are controlled by congress. And this problem will not change whether Obama or McCain are elected. Just look at the so called bail out plan. In just over one week it grew from 3 pages to 150 (then it failed)
    and then to 450 pages. It gained the necessary democratic votes because the nays were allowed to add their pork. Why cannot congress come clean and state just who was responsible for this added pork. The American public is entitled to this information, including the names of those responsible. Sorry gentlemen but we cannot blame all on the current administration. - Jim
     
  9. SwannyinMinn.

    SwannyinMinn. TS Member

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    Jim,

    Those were republican controlled congress' in 2003 and 2005. Pelosi or Frank were not in charge during any of those votes. So your point is that the republicans didn't like the controls?
     
  10. JohnBT

    JohnBT TS Member

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    "Now he wants the federal government in the home mortgage business."

    Who do you think put Fannie Mae and Freddie Mac IN the mortgage business if it wasn't the federal government? Who was it if it wasn't the federal government that required FMae and FMac to back loans to folks who could not qualify for traditional, standard mortgages like the 20% down/30-year kind?

    Sheesh, talk about a complete lack of knowledge. Back to the history books for you.

    John
     
  11. highflyer

    highflyer TS Member

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    I will agree that McCain is a big spender. He voted for the 1 trillion dollar bail out and now wants to buy houses for people in over their heads. But don't believe that Clinton left us with a surplus. I remember at the time that most states also had large "surpluses". We were all rich from the stock market. None of it was real. No more real than a 100,000 dollar home that was worth 500,000 dollars a year ago. But Obama is a believer. He really thinks all you have to do for all to prosper is raise taxes and grow government. I am sick of liberal Republicans like Bush and McCain. Let Obama win and drag us all down. My last shred of hope is that when we bottom out states are allowed to break out on their own. I have completely lost faith in America as a whole. The west coast and the Northeast will forever be socialist and will continue to trash the constitution. It looks like now the rust belt of the Midwest and Florida are going to join them along with the new Mexican states of Colorado and New Mexico. The states which still believe in the constitution are shrinking every year as big cities grow and their minorities take over. I have to admit that I am a little surprised to see Iowa join with the socialists. I don't know what happened there. I guess all the farmers living off the government. Maybe too much corn destroys brain cells.
     
  12. zinger

    zinger Member

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    here's your "pork"
     
  13. jimbotrap

    jimbotrap TS Member

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    Please explain what the bailout is for. I do not understand it. The problem was created by, and is fueled by the subprime lending proceedures. The bailout will not do anything about the problem unless that is where they start. Unless Real Estate values are brought under control they will continue to decline and as a result to problem will intensify. But then after 49 years in the Real Estates business what should any Real Estate Broker understand. - Jim
     
  14. wolfram

    wolfram Well-Known Member

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    John BT has a good point about Freddie and Fannie, I remember getting my student loans through Fannie Mae back in the 80's. These loans were federally guaranteed low intrest loans given to people like me that had no credit and no collateral. It is risky betting on a 20 year old to pay off a $20-$30K note in ten years but now we have a couple of orders of magnitude more loans given to people with proven poor credit and collateral based on artificial equity. Freddy and Fannie were acting like they still had that Federal backing, why did they think that?
     
  15. edthearcher

    edthearcher Member

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    the last time I looked dont we have a democratic congress, dont they aprove the bills, havent they tied up everything for the last 4 years,
     
  16. SwannyinMinn.

    SwannyinMinn. TS Member

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    Ed....since the end of 2006. I am assuming you don't follow politics at all from that statement.
     
  17. jakearoo

    jakearoo Active Member

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    I have two neighbors. The one on the north owns a $200,000 house he bought for $300,000 with a $300,000 loan. The neighbor to the south owns the identical $200,000 house that he bought for $300,000 cash the same day and has no mortgage. When McCain buys my northern neighbor’s loan and writes off $100,000 of it before re-instating it, how does the equal protection clause of the US Constitution make sure my neighbor to the south gets an equal benefit.

    Just wondering. Jake
     
  18. CharlesR1100

    CharlesR1100 TS Member

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    Even FOX TV reporters (the last GOP media hold-outs) could not believe the huge federalization of bad home mortgages proposed by McCain. Socialist John indeed. Now that's in the Constitution? Sarah says, "You betya."

    The nose, neck and both front legs of the socialist camel are now under the McCain tent. Creeping socialism? Not with these Republicans. Full gallop is more like it.

    Perhaps "I'm watching Russia" Sarah has been spending a little too much time watching the commies. Some of their central government socialism rubbed off on her. Who knows? After the pole dancer got to the top of the ticket, ol' John got a little nuts.

    Well, the good news is that John will be able to kiss Palin goodbye and return to the Senate in less than 30 days. We will not miss her.

    The bad news is that SNL will then lose its wide audience, and we will have to talk about shot size and when the target year starts.

    Heck, I'd rather have Socialist Republicans to kick around.
     
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