Liberals are claiming McCain is out of touch, because on Monday, he stated “The fundamentals of the economy are strong”
If you are going to make a quote, and try to savage someone, why don’t you at least include the whole quote? Or, will that not fit into your hysterical liberal view?
What he said was:
“The fundamentals of the economy are strong, but these are very, very difficult times.” source.
Instead, you chose to take just the first half, making McCain look like a buffoon. Nice.
We are not in a depression. We are not even in bad shape. Unemployment is moderate, not high. We have finacial institutions that bought, or underwrote NINJA loans for some people – No Income, No Job, No Assets, which was mandated by law during the Clinton years, to help out low, or no income people get into homes. Jeez, worked out well didn’t it? Another liberal feel-good program screwing up the lives of people. The effects:
- People getting thrown out of homes. These people were given loans they could not afford; as a result, when they lost their jobs, or ran through a bad financial period, they lost the home.
- Inflated housing prices. Since more people were getting loans, home prices went up – especially on higher priced homes – due to the increased competition for those homes. Now that the housing bubble is bursting, people are losing equity in their homes.
- Major financial institutions go into default. Since banking institutions were compelled to make these insane loans, when they were called in by other institutions, they couldn’t pay.
Yeah, let’s go for more democrat do-gooder solutions.
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