The Trickle Down Economy Republican Lie

Recently the repubs have been backpeddling and laying blame on everyone but themselves,

They even had the gall to blame Greenspan for cutting the fed funds rate to 1%.

This is a perfect example of the two faced doublespeak lies that is the Repulican party.

Or does no one remember how the Bushboys stated that we should build a strong economy by borrowing at these low rates to stimulate our growth.

They also talked about a Faith Based economy.

WHAT A CROCK.

Its funny how the repubs choose to ignore the basic fact that we are in the exact same recession that we were in during 1986-1988 under the last 2 term repub term.

With Reagan and Daddy bush leading us to the savings and loans failures and the resulting recession.

This failure occurred due to the so called republican tax cuts that were funded by cutting state funding.

The resulting property tax rises to offset the revenue loss coupled with the interest rate cuts, fueled a temporary real estate boom.

This happened both in 81-83 and in 2001 to 2003.

Then they stated the economy was so hot in 1983 and 2003 that interest rate had to be raised and that started the cycle of foreclosures.

As the speculators began to get stuck with properties they cant sell at a profit,they get foreclosed on or sell at a loss and are left with a balance owed that they must file Bankrupcy on.

And 3 years later all the foreclosed properties get dumped as the banks are forced to sell by federal law.

This causes the first of many major housing sale price drops which causes sellers with variable rate loans to lose their homes after their low starter rates disapeer.

AND THAT LEADS US TO THE CURRENT RECESSION WE HAVE IN 2008.

JUST LIKE IN 1988.

VOTE DEMOCRAT IN Nov. 2008,IF THIS BOTHERS YOU AS MUCH AS IT BOTHERS ME.