Obama - What is your opinion so far on his Presidency

JLM

Hall of Fame Member
Nov 27, 2008
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Most of those who indulged in home-buying misadventure of getting a sub-prime loan were encouraged to do so by the likes of Barney Frank and Chris Todd - Democrats - and were minorities. Would they vote for Obama seeing their house repossessed? Of course, they would! For exactly the same reason they voted for him in the first place.

Corruption doesn't follow political lines.............if one party had no corruption there would be no need for the other party. Penalties need to be toughened up for those with financial power who rip people off. The crime should be ramped up to one notch below child molestation.
 

Icarus27k

Council Member
Apr 4, 2010
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A good example of how the U.S. economy is doing right now is the city of Elkhart, Indiana. One of Barack Obama's first trips as President was to Elkhart in Febuary 2009 because the unemployment rate there was so bad.

Source: Obama visits job-starved Elkhart, Indiana - USATODAY.com

The unemployment rate there in March 2010 was 17.3%. However, there has been significant improvement. A year later, in March 2011, the rate is now 12.8%.

Source: Indiana Metropolitan Unemployment


The economic criticism of Obama is basically, "It's not getting better fast enough", but there has been dramatic improvement since Obama has been President.

Most of those who indulged in home-buying misadventure of getting a sub-prime loan were encouraged to do so by the likes of Barney Frank and Chris Todd - Democrats - and were minorities. Would they vote for Obama seeing their house repossessed? Of course, they would! For exactly the same reason they voted for him in the first place.


I don't know what you mean by "encouraged to do so", but the usual target of this kind of criticism (the Community Reinvestment Act, the 1977 law meant to reduce discrimination against low income and middle class borrowers, and the Act's many amendments since 1977) has been completely exonerated. As Federal Reserve Chairman Ben Bernanke put it:

"Our own experience with CRA over more than 30 years and recent analysis of available data, including data on subprime loan performance, runs counter to the charge that CRA was at the root of, or otherwise contributed in any substantive way to, the current mortgage difficulties."


Janet Yellen, Vice Chair of the Federal Reserve Board of Governors, says, "tudies have shown that the CRA has increased the volume of responsible lending to low- and moderate-income households."


The mortgages to low-income borrowers that are covered by the CRA are not risky because they are highly regulated. It was unregulated subprime lows to more wealthy borrowers that caused the housing bubble.
 

Goober

Hall of Fame Member
Jan 23, 2009
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For those unaware, an "underwater" mortgage is a mortgage that costs more than what a home is worth. People could listen to YukonJack's spin on it, or you can listen to my spin as well. 23% of all U.S. mortgages were underwater at the end of last year. As bad as that sounds, it's an improvement from the first quarter of 2009 when 26% of U.S. mortgages were underwater and when people were predicting the percentage could go up to 48%.

Source: About half of U.S. mortgages seen underwater by 2011 | Reuters

But in the US people can walk away from their mortgage - end of story - no debt collectors - no more problems - social stigma is holding many back from walking away - shame etc - What happens when and or if the economy slow down further - then many will walk - also how many houses are not listed by banks so as not to depress the market. - Canada is different - walk away, bank sells the house - CMHC on the hook for 100 k - or some other insurance broker - they come after you for that 100 K.
 

ironsides

Executive Branch Member
Feb 13, 2009
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Most of those poor people who you said were discriminated against by the banks, could not afford to pay the home loans they received. It was Barney Frank and Chris Todd who were responsible for disillusioning the public into thinking that anyone could own a home, even a second home no matter what it cost, after all home prices will only go up. Well they were suckered again into thinking Obama would change it all when it was his people who caused it in the first place. Hope they enjoy the change.

But in the US people can walk away from their mortgage - end of story - no debt collectors - no more problems - social stigma is holding many back from walking away - shame etc - What happens when and or if the economy slow down further - then many will walk - also how many houses are not listed by banks so as not to depress the market. - Canada is different - walk away, bank sells the house - CMHC on the hook for 100 k - or some other insurance broker - they come after you for that 100 K.

Not quite that easy, yes you can walk away from a mortgage, and if the bank cannot recoup their money from the sale of your home they can and sometimes will garnish your salary (you still owe them for the loan). Bottom line as in Canada you are responsible for your debt. The only way you may get away without paying is to declare bankruptcy, then your credit is shot for 7 or so years, but your debt is canceled.
 

Icarus27k

Council Member
Apr 4, 2010
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Most of those poor people who you said were discriminated against by the banks, could not afford to pay the home loans they received. It was Barney Frank and Chris Todd who were responsible for disillusioning the public into thinking that anyone could own a home, even a second home no matter what it cost, after all home prices will only go up. Well they were suckered again into thinking Obama would change it all when it was his people who caused it in the first place. Hope they enjoy the change.QUOTE]

Depending on what your definition of "poor people" is, that could be false. Poor people, as in the people who got home loans under the highly regulated terms of the Community Reinvestment Act, which is the major piece of legislation dealing with home ownership that Rep. Barney Frank and Sen. Chris Dodd would have dealt with? It's false that those loans caused any housing bubble and that the borrowers couldn't afford them.
 

ironsides

Executive Branch Member
Feb 13, 2009
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Most of those poor people who you said were discriminated against by the banks, could not afford to pay the home loans they received. It was Barney Frank and Chris Todd who were responsible for disillusioning the public into thinking that anyone could own a home, even a second home no matter what it cost, after all home prices will only go up. Well they were suckered again into thinking Obama would change it all when it was his people who caused it in the first place. Hope they enjoy the change.QUOTE]

Depending on what your definition of "poor people" is, that could be false. Poor people, as in the people who got home loans under the highly regulated terms of the Community Reinvestment Act, which is the major piece of legislation dealing with home ownership that Rep. Barney Frank and Sen. Chris Dodd would have dealt with? It's false that those loans caused any housing bubble and that the borrowers couldn't afford them.

Not necessarily poor, but people who could not have afforded a home with the old banking rules. Never should have been given a mortgage in the first place. When you offer a person like that 5 years little or no interest, then after that period the rate jumps to 7-9%, they have been conned by the banking community of which Barney Frank & Chris Dodd totally supported. No, those people didn't cause the housing bubble to burst, they just defaulted on their loans because of non payment, loss of jobs brought on by the government outsourcing their work. It was business practices that brought on the bursting of the housing bubble,
 

YukonJack

Time Out
Dec 26, 2008
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Winnipeg
The similarity of Obama to Carter is getting eerie, with the possible exception of the raid on and killing Osama, which was accomplished by results of Bush-era interrogation and Bush-era trained Navy SEALS, compared to the spectacular failure of Carter's rescue attempt of the hostages.

But any time now we are about to hear what sealed Carter's fate and will seal Obama's: Are you better off than you were four years ago?
 

Icarus27k

Council Member
Apr 4, 2010
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But any time now we are about to hear what sealed Carter's fate and will seal Obama's: Are you better off than you were four years ago?

Even if that premise of yours about Obama being like Carter is true, you really don't think Americans would say, "Yes, we are better off now than four years ago?" Americans are no longer threatened by a dead Osama bin Laden, the unemployment rate is down from its peak and will continue to drop, gay people can serve openly in the U.S. military, and Americans aren't better off now than when George W. Bush was President?

I'm being rhetorical, of course. The answer is, of course, yes, Americans are better of.
 

YukonJack

Time Out
Dec 26, 2008
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Winnipeg
"The answer is, of course, yes, Americans are better of."

Would the 10+% unemployed feel that way? Or those who can't afford to go camping with $4.00/gal gas prices? Or the highest number of people on food stamps? Or the people who eventually will realize that Obama will NOT pay their rent/mortgage/car payment/tuition?
 

Icarus27k

Council Member
Apr 4, 2010
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If those people also support Obama's significant progress on economic matters, yes. They would say that. And if you've seen Obama's recent job approval ratings, I would guess at least some of the people who have to deal with those things you mentioned are saying that.
 

YukonJack

Time Out
Dec 26, 2008
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If those people also support Obama's significant progress on economic matters, yes. They would say that. And if you've seen Obama's recent job approval ratings, I would guess at least some of the people who have to deal with those things you mentioned are saying that.

That is a BIG "IF".

I also remember the job approval rating of George Herbert Walker Bush in 1991. It popped like soap bubble. If you think that the miniscule blip Obama got from the Osama killing will last for another 18 moths, you are dreaming. The 10% unemployment and the the $4.00 gas prices have a far better life expectancy.

Obama's re-election will be doomed when (NOT IF) people follow Martin Luther King Jr.'s advise to judge a person not by the colour of their skin but the content of their character.
 

Icarus27k

Council Member
Apr 4, 2010
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Enough with the Carter comparison. Now, with the George H.W. Bush comparison. Of course, Bush lost the 1992 election because his vote was split with third party candidate Ross Perot. Not sure it applies here.

So yeah, it's not that hard to believe that Obama's bounce from killing Osama bin Laden will last. On the high end, Obama's job approval was 60%, according to that recent AP-Gfk poll, I have to remind people.
 

YukonJack

Time Out
Dec 26, 2008
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Enough with the Carter comparison. Now, with the George H.W. Bush comparison. Of course, Bush lost the 1992 election because his vote was split with third party candidate Ross Perot. Not sure it applies here.

So yeah, it's not that hard to believe that Obama's bounce from killing Osama bin Laden will last. On the high end, Obama's job approval was 60%, according to that recent AP-Gfk poll, I have to remind people.

Enough of the Bush comparison? Are you for real? Up to less than six months ago Obama and his acolytes did nothing but blame Bush, GW, that is. And the older one had a job approval rating in the 90's.

Enough with the Carter comparison? History has a funny and nasty habit of repeating itself. The only thing missing in that scenario is the modern day equivalent of Ronald Reagan. Who, let us not forget, was bashed by the media as an 'amiable dunce' until the four words that destroyed Carter: "There you go, again".

Granted, there is no new Reagan, yet, but according to today's version of ass-kissing liberal press, ALL potential Republican contenders are a notch below an 'amiable dunce'. So, get ready to eat your words.

The parade today brings to mind the Christian Andersen tale about the Emperor who had no clothes. When their mortgage/rent/car payment/tuition is not paid by Obama, the blind will eventually see the Emperor with no clothes.

To illustrate:

YouTube - Obama's Stash
 

Icarus27k

Council Member
Apr 4, 2010
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I was not attacking you for comparing Presidents. Rather, I was noting how quickly you changed the comparisons. It sounded a little desperate to me.
 

EagleSmack

Hall of Fame Member
Feb 16, 2005
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Totally agree, give the man a break. I'm so sick of people trashing the President!! people can be so judgmental. Just look at what he inherited from Bush. Rome wasn't built in a day people!

No explanation needed here.

Even if that premise of yours about Obama being like Carter is true, you really don't think Americans would say, "Yes, we are better off now than four years ago?" Americans are no longer threatened by a dead Osama bin Laden, the unemployment rate is down from its peak and will continue to drop, gay people can serve openly in the U.S. military, and Americans aren't better off now than when George W. Bush was President?

I'm being rhetorical, of course. The answer is, of course, yes, Americans are better of.

Down from its peak but it is pretty darn high... and it peaked under Obama's watch.

No Americans aren't better off than we were four years ago... maybe four months ago.

Perhaps four more years with Obama won't be so bad because I wouldn't want to inherit the mess he created during his first term.

''Obama care is OK''

RepubliCON care kills 45,000 Americans every year - but that's perfectly OK with the right wing as it reduces the excess population.

Oh do explain!
 

ironsides

Executive Branch Member
Feb 13, 2009
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I was not attacking you for comparing Presidents. Rather, I was noting how quickly you changed the comparisons. It sounded a little desperate to me.

Right now, Americans are scraping just to hold onto their homes and feed their families. The following is just from a small area in GA. Things maybe getting better based upon the past 3-4 months or so, but were a long way from being better than 2008.

TIFTON — Crimes reported between 2009 and 2010 in Tift County show that there has been a significant increase with some Part One crimes — robbery as high as 50 percent.

Robberies up 50 percent in 2010 Local News Tifton Gazette
 

PoliticalNick

The Troll Bashing Troll
Mar 8, 2011
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Edson, AB
I think this says it all.....