McCain / Palin - the Original Mavericks

September 8, 2008 · Filed Under John McCain, Sarah Palin ·  

There is a new campaign ad, “Original Mavericks,” that highlights the history of fighting wasteful spending and corruption by John McCain and Sarah Palin.

The ad has sources for all of the accomplishments - I like that better than promises and claims.

Who is Responsible for the Foreclosure Mess?

September 8, 2008 · Filed Under Economy, News ·  

We continually hear how the rise in foreclosures is the fault of President Bush and his administration, but that’s the version from the mainstream media.

The reality is that this real estate implosion dates back nearly a decade to the Clinton years, according to the New York Post.

Each of the political parties shares responsibility for the troubles at Fannie Mae and Freddie Mac, two government-sponsored organizations that needed to be bailed out this weekend by - who else? - the taxpayers.

The latest housing bubble started back in the Clinton administration, when Washington suddenly got the brilliant notion that all Americans should be able to buy houses.

No, let me change that.

Our elected officials concluded that everyone deserved to own a house regardless of whether they could actually afford one.

Democrats would have you believe that every ill in the U.S. rests squarely on the Republicans, when they are hugely responsible for this mess, too.

The real trouble began in 1999 when Franklin Delano Raines, former budget director for Bill Clinton, took over as chairman of Fannie.

Only Raines knows why he pushed so hard to expand the number of mortgages and the size of those loans that Fannie could hold.

But at the end of the Clinton administration and into the Bush presidency, Fannie Mae and its sister organization, Freddie Mac, ended up owning trillions of dollars of mortgages.

So, we can either play the blame game, as Obama has favored, or admit it’s a bi-partisan screw-up and go about fixing it.

Another mess born in the Clinton days (like the Clinton Recession) that Democrats pretend magically appeared when Bush took office.