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Highlands Today

Spending Like Crazy

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Randy Miller

Published: March 25, 2009

This is in response to "Republicans Criticizing Obama Have Chutzpah." Gabriel Read, the author, selectively chose some facts while blatantly disregarding others. For example, the first stimulus bill was crafted by Pelosi, Reid, Franks and Dodd; Democrats all. In their haste to pass this stupid piece of legislation, they gave complete digressions and power to the greatest ponzi scheme con artist of all, Hank Paulson.

Nor did he mention the "Community Reinvestment Act" passed by a Democratic House and signed into law by Jimmy Carter in 1977. It encouraged banks and mortgage lenders to loan money for housing to those who otherwise wouldn't qualify for loans with Fanny Mae and Freddy Mac taking the paper.

Since 2005, these financial institutions have given away a whopping $4.3 million to political campaigns. Obama got $112,000, Chris Dodd got $165,000, Pelosi took $56,000 and Barney Frank took $56,000. Barney Frank was also literally "in bed" with a top executive of theirs. Fanny and Freddy also fraudulently kept $9 billion of losses off its income statement since 2001, while Franklin Raines of Fanny Mae merrily left with a $17.7 million severance package.

Somewhere along the way we have come to believe that living beyond our means is normal. It's become our right to live in a home that one cannot afford, and now your government has decreed that plain living folks will pay the mortgages for dead-beats who should never have been living the good life in these houses to begin with and wouldn't without government intervention.

So to sum it up, it was the Democrats who collapsed the housing market and another small reminder, the Democrats have had control of the House and Senate for the past two years.

It's ironic that the same Democratic politicians, who let Fanny and Freddy run rampant on their watch, while crashing the housing market, now tell us that by spending trillions on pure lard, they are going to fix it and while they are at it, they are going to give the oversight to Fanny Mae and Freddy Mac.

Well, Gabriel Read, you and your socialist sky is the limit spending cronies just better hope Hillary can black ball the Chinese into buying yet another couple of trillion (soon to be worthless) treasury bonds, while Geithner puts the printing presses on overdrive or this whole house of cards is going to come crashing down on us all, Republicans and Democrats alike.

Randy Miller
Venus

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