Msg. 57516 of 65535 (This msg. is a reply to
57501 by
joe-taylor)
Jump:
The question was "How did George Bush cause the S.S.
problems?"
All you did was point out one of the problems being
experienced.
By your own logic, B.J. Clinton also pounded Social
Security with his tech stock collapse of 2000.
What caused the housing market collapse and the
financial crisis? The repeal of Glass Steagall
by Bill Clinton was one factor. Government
mandates to make mortgages to people who could not
afford mortgages was another factor.
Fannie and Freddie were buying megatons of bad
mortgages . . . Oh, yeah, blame the 'unscrupulous'
mortgage brokers who were selling them . . . but, the
sad fact remains that Fannie and Freddie should NOT
have been buying questionable mortgages.
And we have some conservative types sounding a warning
about it . . . and democrat congress critters refusing
to recognize the problem. Until after it blew up in
our faces.
I don't buy this 'it's all Bush's fault' stupidity.
Millions of hard working Americans were left without jobs in the financial crisis of 2008 and 2009. Many of them would have qualified for social security disability but had chosen to continue working. When the crisis hit many eventually turned to social security as a last resort when there were no jobs. Also, many who had chosen to work instead of draw social security benefits finally filed for their benefits as the downturn continued. This further taxed the system.
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