Fannie & Freddie....Remember
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Fannie & Freddie....Remember
| Sun, 10-19-2008 - 9:08pm |
In the last couple of months, there have been a number of threads where posters have contended that if only those durned Democrats hadn't blocked legislation introduced by Chuck Hagel (and later signed onto by McCain), that Fannie & Freddie wouldn't have suffered such incredible losses.

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Let's look at the rate of poverty in the US over the years.
Taxation accomplished that.
Sopal
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Oh dear , what are we to believe? Is it
<Oh dear , what are we to believe? Is it
Sopal
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This will most likely be ignored since it's not from an "approved" right wing source - but what the heck...
<>Interesting how cutting taxes led to a higher national debt:<>
It was increased spending, NOT cutting taxes that raised the national debt.
<>It's all the more remarkable given that federal tax revenues as a share of GDP are currently above their modern historical level. The latest budget estimate is that fiscal 2007 revenues will reach 18.8% of GDP, compared to the 40-year historical average of 18.3%. Tax revenues this year are rising by nearly 8%, following increases of 11.8% in 2006 and 14.6% in 2005. The budget deficit is down to 1.5% of GDP, and falling. But apparently Democrats still think Americans are undertaxed.<>
Sopal
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<It was increased spending, NOT cutting taxes that raised the national debt.>
What new spending was undertaken?
Sopal
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