Well, in the long run it did “work”. But it was a shitty liberal solution by a liberal president, not sure why anyone is surprised.
That said, he became president as the entire world economy was imploding. I would wager that anyone in the position would have presided over the drop in home ownership you referred to. It’s not really fair to put any kind of blame on him.
Except maybe Bernie, or another actual socialist that would have just paid off people’s shitty mortgages rather than bail out banks. But shit, we can’t even get student loans forgiven, people in this country would have revolted if they saw black people being “given free homes,” while they still have to pay their mortgage. Literally revolted.
He took on after 8 years of deregulation and bad policies set the economy up for an unsustainably driven bubble followed by the inevitable pop. Just like the fed printing more money than has ever been printed before during Trump’s rule, followed by…surprise! Inflation!
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Obama took over after the housing market fell out from under the entire country and the economy was in complete recession…
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Well, in the long run it did “work”. But it was a shitty liberal solution by a liberal president, not sure why anyone is surprised.
That said, he became president as the entire world economy was imploding. I would wager that anyone in the position would have presided over the drop in home ownership you referred to. It’s not really fair to put any kind of blame on him.
Except maybe Bernie, or another actual socialist that would have just paid off people’s shitty mortgages rather than bail out banks. But shit, we can’t even get student loans forgiven, people in this country would have revolted if they saw black people being “given free homes,” while they still have to pay their mortgage. Literally revolted.
Actually Bush signed that before Obama was president. It was 2008.
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Obama’s policies were a disaster
He took on after 8 years of deregulation and bad policies set the economy up for an unsustainably driven bubble followed by the inevitable pop. Just like the fed printing more money than has ever been printed before during Trump’s rule, followed by…surprise! Inflation!
Don’t forget expanding the Bush wars and giving insurance companies a captive income stream