Democrats, not GOP, to blame for housing bubble

2013-01-11T00:00:00Z Democrats, not GOP, to blame for housing bubble nwitimes.com
January 11, 2013 12:00 am

In a Dec. 12 letter, a prevalent myth materialized: "Rich getting richer, poor getting poorer, all a gift from GOP policies like $10 trillion in debt when George W. Bush left office."

Just to set the record straight, that debt occurred because of the Democrats' bailout plan for the rich bankers. Both houses were controlled by the Democrats. Bush didn't have many choices, especially considering the fear tactics being used.

As for the housing industry collapsing and causing a great recession, blame that on the Democrats and Obama. It was during the Clinton administration that the housing bubble started. Freddie Mac and Fannie Mae gave out loans knowing they were high-risk, and this was pushed by none other than Democrats and Obama. Yes, Obama was wanting the banks in Chicago to do the same.

The GOP and Bush did try to stop the heartless situation, but to no avail.

Obama is still the champion of death -- death of dreams, death of the American spirit!

- Robert C. DeLuca, Lansing

Copyright 2014 nwitimes.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Follow The Times

Latest Local Offers

Featured Businesses

Submit a Letter to Editor

We welcome letters from readers on any issue of public interest, and make every effort to publish as many as we can and in a timely manner. The Times will publish only one letter a month from a writer, and be sure to include your name, address and a telephone number for verification. Letters should be 150 words or less. They will be edited.

Letters may be submitted:
  • Via our submission form.
  • Via e-mail.
  • Via fax: (219) 933-3249 or (219) 465-7298
  • Via mail or by hand to our offices:
    • 601 45th Ave., Munster, IN 46321
    • 2080 N. Main St., Crown Point, IN 46307
    • 1111 Glendale Blvd., Valparaiso, IN 46383
    • 3410 Delta Dr., Portage, IN 46368
    • Please mark envelopes with "Attn: Letters"

Questions?

Email Editorial Page Editor Doug Ross or call (219) 548-4360 or (219) 933-3357

Poll

Loading…

Is a town marshal needed in Winfield?

View Results