Who owes (owns?) 70% of our debt and to whom do they owe it?
They own up to 70% of our Treasury debt. Sorry about the typo.....I'm inclined to make a few of those a day. It's short term ( one year) and low interest debt owned by......us. A low interest Treasury is bad for a couple of reasons especially if your depending on a central bank to keep financing your massive deficit spending. Yields could go up easily in a year adding massive amounts of federal payments annually as the Treasury attempts to pay off its current interest.
So, you're effectively saying that every problem we have was caused by Democrats?
I've explained my analysis dating back to the early 90s. Consider that Freddie and Fannie have been around since 1930 and usually retain sub-prime origination's prior to 1990 of 10%. That's been a consistent percentage prior to the sub-prime collapse and people have been buying and selling homes, investing in and trading Mortgage Backed Securities and Investment banks have been insuring those investments with Credit Default Swaps for decades without crashing ours and the worlds economy.
What happened prior to 1990 to mandate cheap and easy credit for all ? The investment banks bought and sold AAA rated MBS as part of investment portfolio's and Fannie and Freddie also bought, sold and packaged Govt guaranteed mortgages to and from investment banks.
What Obama policies are you specifically referring to? Please don't say taxes, they've actually gone down the last 4 years although that may change momentarily. So, what exactly has Obama done that say, Clinton or Bush did differently? I'll assume you're not going to go with Democrat all bad Republican all good.
What has Obama done ? With the implementation of Obama Care ( for one ) he's put an enormous amount of emphasis on employers to try and decipher a 2700 page Health Care Law so they'll comply with the Health and Human Services criteria and up until it's full implementation they had no idea of it's cost or how it affected their bottom line or if they could afford it.
Also Obama care before it's implementation increased insurance premiums for individuals and corporations. As it turns out Obama care is expensive as Businesses look at scaling back or lowering the hours of full time employees to comply and maintain a profit.
On top of that is the Dodd Frank Bill. Yes Barney Frank, one of the most single complicit politicians in the sub prime collapse got to on his way out blame it on the banks by putting together a banking reform bill that's done a huge amount of damage to banks and their ability to lend.
Consider prior to 2008 Banks held excess reserves of around 2 billion, since banking reform and Fed policies their reserves have increased to over 1.9 trillion total.
Ok so on to tax increases because the liberal narrative is a lie. Tax increases on top of excessive EPA regulations, draconian banking regulations that stop credit and Obama-care has the effect of weighing down the private sector to the point of a shrinking labor participation rate ( no automation didn't cause this ) and increased unemployment. The general incompetence of Obama's presidency and his perpetual attack on the private sector as he grows the public sector which adds NO wealth into the market is to blame for the perpetuation of a recession that should have ended in 2005.
Allot of small business are not C-corporations are taxed through personal income tax. Small businesses employ about half of all private sector employees. So it's not just a tax on " the eeebil rich ", it's a tax on small businesses.
Obama-Care has hidden sur tax rate increases on dividends and capital gains taxes on top of the increased rates Obama's pushing now. People with money respond ONE WAY to this kind of Govt Grab of private capital and it's the chink in the armor of the liberal economic meme. They protect it, they sit on it, they tuck it away forcing the public sector to borrow and spend and borrow and spend while the Fed pumps money into the Banks to get them to do something they will never do under Obama.
Lend money. There has to be demand to lend money, to borrow money and a liberal who's intent going after the people that actually inject real wealth into the economy through investments and expansion has to deal with the consequences of his bankrupt agenda. You have to accept our private sector needs a certain amount of confidence and that confidence is based on policies that come out of Washington. Do you think with Obama's current policies there has been a substantial effect on confidence in our free market ?
((I didn't vote for Obama. I bash and defend with equal vigor - all these Politicians make me sick and I DO think they are puppets and I UNDERSTAND you don't think that - but lets talk about this))
That's great. You don't have to feel guilty then for your vote that would have contributed to millions of Americans continued suffering and chronic joblessness and to a up and coming economic collapse.
That may sound apocalyptic b ut I see no way out off this after voters doubled down on stupid and re-elected Obama.
