For Barack Obama to use the financial crisis in an attempt to make Americans doubt themselves and the very system that has enabled this country to become a very special place is disingenuous to say the least.
The financial crisis of 2008 (at least the burst of the housing bubble part of it, which was most of it), was for the most part a product of the policies of the Democratic Party. Check the record.
These are President Clinton’s own words. “I think that the responsibility that the Democrats had may rest more in resisting any efforts by Republicans in the Congress or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac.” (Sept. 25, 2008).
Here is a quote from Rep. Arthur Davis (D-Ala.), Sept. 30, 2008: “Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong.”
President Bush pushed early on for tighter controls over Fannie and Freddie but he failed to move Congress. The only defense Democrats have is the “meltdown” happened on Bush’s watch. For that I suppose President Bush is culpable.
Barack Obama and company certainly do want to take this country in a different direction. The direction they wish to take us leads to greater and greater debt and more and more dependency.
This is not a world in which I want my granddaughter to grow up. The choice it seems is very clear, perhaps clearer than at any time in our history. I know the choice I am making. Maybe this note will help some of you undecided voters to think about it.