One regulation, one teeny itty bitty regulation that would have required mortgage lenders to require proof of income, enough income, to buy a home, could've averted the catastrophe we're now in. But the leadership, who will now remain nameless like Voldemort, didn't want to mess with "free markets" and went along with it because the bankers and Wall Street were getting theirs and the stock market was rising. Let's not forget the tax policies that have favored the wealthy. As an American, I'm really not interested in hearing from Boehner or McConnell anymore. I'm not really hearing them say anything new or offering any solutions, except for a spending freeze, which isn't a solution at all.
Timothy Geithner reminded the budget committee today:
the Obama Administration inherited the worst fiscal situation in modern American history, with a federal budget deficit of $1.3 trillion, equal to nearly 10% of GDP – the largest that the nation has faced since World War II – not counting the economic recovery or other legislation undertaken by the Obama Administration.But somehow, republicans have forgotten this. Not only have they forgotten, but they're trying to rewrite the way it is, just like they're trying to rewrite our former president's history. No one should be listening to them. In fact, we should have a republican hush period, where they keep quiet for about two weeks so the Obama administration can work in peace.
