Friday, November 18, 2011
Thought of the Day
Labels: Jonah Goldberg quote
Now I believe.
This is my first visit in more than 6 months, I think. It is always a mistake to to attribute simple explanations to complex problems. Anyone who attributes the United States' fiscal problems, which were did not appear overnight, to the President who inherited them and has yet to reinstate Happy Days are Here Again, is at best intellectually dishonest and at worst intellectually bereft.
At the same time one considers un or underfunded mandates, one need remember recent GOP tax policy; two wars; both off the he book by George W. Bush, and one completely unnecessary, during the prosecution of which, the other was basically ignored; the failure to regulate, in its broadest sense--the subprime fiasco was caused not by the CRA, passed in 1975, but by may factors, the sine qua non of which was the the passage of the GLBA which repealed the vestigial parts of the Glass-Steagal act, w/o which, the subprime fiasco could not have occurred.
To what paragon will the GOP attempt to entrust the country's future?
There are always a thousand things which are the sine qua nons of a recession. If the fed hadn't kept the overnight interest rate too low for too long....If there wasn't a steep rise in house prices with the reduced 30 year mtg. interest rate... On and on. I'll give you Glass-Steagal repeal as one, but you ignore the CRA, as it evolved during Democratic administrations, and it hurts your credibility not to mention your persuasiveness. Looks like Romney still. Glad to have you come back around, though.