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Originally Posted by RWebb
1 & 2. borrowing is down for all types - savings rates are UP
- so are saying they have not changed enuff, or what??
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Wrong, savings rates for May were down to 2.7% from 3.0%
(BAC) U.S. Savings Rate Trend Falling Again | Stock Blog Hub
Quote:
Originally Posted by RWebb
3. examples?
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Gee, the endless Wall Street bailouts? The lack of any meaningful reforms to Fannie/Freddie? The recent failure of Congress to implement a minimum 5% down payment requirement on federally-backed loans? The stalling of financial reform? How many examples do you want?
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Originally Posted by RWebb
4. "social engineering" has always been engaged in -- e.g. the US Govt. gave enormous grants to RR's -- to get the transcontinental RR built - it worked. was it worth it??
another e.g - the entire robber baron era was built on a govt'l substructure
then there's the space program...
so, you need to be more specific about your objections
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Gee, Obamacare? But what's another couple of trillion dollars between friends, especially when the deficit is now well over 12 trillion, right?
The transcontinental railroad employed people - Obamacare will not (in fact it seems likely to destroy jobs by forcing the closure of a number of hospitals and other healthcare facilities, several projects have already been canceled). The transcontinental railroad gave this country infrastructure on which it could built itself - Obamacare does not. The transcontinental railroad provided a return on investment. While it is speculation, I think it's fair to say Obamacare will not.
What about "immigration reform"? Cap-n-Tax? CRA (which I notice you avoided answering above)? There are a few "noble" social engineering efforts which either have or are bankrupting this country and tearing asunder its fabric of strength and resourcefulness.