Monday, September 29, 2008

Bailout Crisis - Jimmy Carter's Legacy

Jimmy Carter has done so much to further free-enterprise and he has left quite a legacy against tyranny. Regarding the current "housing" and economic "crisis", we have only to look to Community Reinvestment Act of 1977. You can simply search for Community Reinvestment Program/Act of 1977 and here are two links: Community Reinvestment Act and Housing and Community Development Act of 1977 - Title VIII (Community Reinvestment. And we have the fall of the Shah of Iran leading to Ayatollah Khomeini and eventually Mad Jad. And who could forget the Panama Canal? So, here is the beginning of the "crisis" we face today... One other thing about Nancy's rant - she intends to regulate CEO compensation (this from the richest person in Congress - either house). Hey, if the Socialists can regulate the compensation of a CEO, why not regulate all salaries? Socialism is a slippery slope. "Rebuilding the infra-structure of America" the people of the world tell Nancy is the most important thing that must be done. Well, lower the 35% tax rate on business and industry and put it more like the 11% of Ireland. Businesses would come flooding back into the United States. Liberal Socialists simply do not understand economics. They understand money and spending it as long as it is yours and mine. I think Nancy was just too tired really to have given her rant... If we need any other example of why we need to put our Republicans back in the House, today demonstrated that need. Yep, Nancy's little rant cost her the passage of the bill...and 94 Democrats voted AGAINST the bill too. Let's take a breath, step back, and see if we can get a better bill.


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