Democrats, not GOP, to blame for housing bubble

2013-01-11T00:00:00Z Democrats, not GOP, to blame for housing bubble
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

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