Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Paul V. who wrote (112218)	9/7/2011 5:26:04 PM
From: joefromspringfield	3 Recommendations Read Replies (1) of 224710

"Joe, notice when the unemployment rate bottomed out on your chart. 2007-05 4.40 Then, the rate continued to rise from that point even with two or three wars going on with maximum military employment and military procurements. How, did the deficit perform during that time and what did deregulation do to us with banks, sub-prime loans, credit default swap, bank failures, financial melt down, and deficits. What is going to happen when our soldiers come back from Iraq and Afgan for employment." Let me address it item by item. "what did deregulation do to us with banks, sub-prime loans, credit default swap, bank failures, financial melt down, and deficits." The two major pieces of legislation enabling this were the repeal of Glass Stegalll and the commodity futures modernization act of 2000. Phil Gramm sponsored the first one. It was signed by president Clinton. thestrangedeathofliberalamerica.com The second legalized things like credit default swaps. en.wikipedia.org Both laws were in effect before Bush took office in January 2001. As for deregulation in 2003 the treasury secretary went to congress warning about Fannie Mae and Freddie Mac. online.wsj.com Next the deficit was high due to wars but these were wars approved by congress unlike Libya. They are just as responsible as president Bush. Even Obama has called Afghanistan the right war. I have always felt Iran was a bigger threat to us than Iraq but we didn't have an excuse to invade them. The economic down turn has exacerbated the deficit due to lower revenue being collected. The increase in spending has been a larger factor than the decrease in tax revenue. Finally "What is going to happen when our soldiers come back from Iraq and Afgan for employment." I have been thinking about this for quite awhile. No one in the media has brought it up that I can remember. Obviously it will have a negative effect on employment. If a veteran was called up, he should get his old job back according to the law but the person in the job may be laid off.

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