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Child poverty in U.S. is at highest point in 20 years, report finds

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Markle
boards of FL
Sal
Joanimaroni
gatorfan
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Markle

Markle

2seaoat wrote:But counter help should make $15.00 an hour at McDonalds.


Maybe not 15, but certainly 9 or 10 right now would start to solve the subsidy the American people are giving Macs as their employees get food stamps and other help from government all the while Macs makes record profits.

I worked my way through college on minimum wage jobs....a kid today cannot do that in eighty hours a week.

I too worked my way through the University of Miami.  My first real job was at 16 and I bagged groceries for less than minimum wage.  I earned $0.85 per hour PLUS TIPS.  Minimum wage was $1.00 per hour and I made a LOT in tips. I worked a LOT of other jobs and earned a lot gambling on myself in a sport.

Kids can't do it today because government subsidies and the ease of student loans make it easy for schools to raise their tuition rates.

Curious...you could buy three gallons of gas for the minimum wage.  The same as today.  So raising the minimum wage does nothing whatsoever.  It DOES, as is only necessary for Progressives...make them FEEL better regardless of the results.

None of the Progressives will accept what is the major difference between a child being raised in poverty and one NOT being raised in poverty.  Reality, results and FACTS are abhorrent to them.  Particularly if they don't FEEL good.



Last edited by Markle on 10/27/2014, 12:51 am; edited 1 time in total

Markle

Markle

Wordslinger wrote:
Joanimaroni wrote:So,  giving more handouts is the answer. Ignore the root of the problem.

And just what is "the root of the problem?"  

What about making sure workers are paid a living wage?  Or is that too caring for you and your lot?

How about personal responsibility? Or is that too caring for you and your lot?

Oh...that's right, as a confirmed Socialist/Communist there is no need for personal responsibility, there is always THE GOVERNMENT providing everything for FREE. Isn't it wonderful?

2seaoat



So raising the minimum wage does nothing whatsoever.

Your understanding of economics is limited. You choose the price of gas in 1970 when we imported very little oil. You did not look at the median income figure. Demand is driven by purchases. Our GDP is almost two thirds driven by consumer demand. When this country in the early 80s consciously began war on labor, the median income of Americans began to slip in real dollars and wealth began transferring to the wealthiest Americans. As the gap increased the size of the pie stagnated and started a vicious cycle which has crippled this nation and created this terrible wealth gap. We need to start fixing the structural changes which started with Reagan. At the time I thought it was the only way to grow the pie.....trickle down would work.....well I was wrong, and I am no longer going to hide from the truth.

Markle

Markle

2seaoat wrote:So raising the minimum wage does nothing whatsoever.

Your understanding of economics is limited.  You choose the price of gas in 1970 when we imported very little oil.  You did not look at the median income figure.  Demand is driven by purchases.  Our GDP is almost two thirds driven by consumer demand.   When this country in the early 80s consciously began war on labor, the median income of Americans began to slip in real dollars and wealth began transferring to the wealthiest Americans.  As the gap increased the size of the pie stagnated and started a vicious cycle which has crippled this nation and created this terrible wealth gap.  We need to start fixing the structural changes which started with Reagan.  At the time I thought it was the only way to grow the pie.....trickle down would work.....well I was wrong, and I am no longer going to hide from the truth.

The minimum wage I was quoting was from 1961.

The minimum wage increases has done...NOTHING.

Wordslinger

Wordslinger

Joanimaroni wrote:
Wordslinger wrote:
Joanimaroni wrote:So,  giving more handouts is the answer. Ignore the root of the problem.

And just what is "the root of the problem?"  

What about making sure workers are paid a living wage?  Or is that too caring for you and your lot?

Usually wages are based on education, technical training and ability.  My lot has to comply....how about yours?

Free education.....all you have to do is show the fuck up.

That explains why so many Walmart and MacDonald's workers are on foodstamps, including those with college degrees ... Reality!

boards of FL

boards of FL

Markle wrote:
boards of FL wrote:
Markle wrote:
boards of FL wrote:
gatorfan wrote:Lesley and Flores called on the federal government to take 10 specific steps to turn things around for kids, including:

-- set a national target date for the elimination of child poverty;  

-- cut maltreatment deaths in half by 2018;

-- step up funding for pediatric research;

-- invest in children’s nutrition programs;

-- extend Medicaid insurance programs for children;

-- enforce a mandatory criminal background check for every firearm sale; and

-- increase the number of mental health-care providers by enhancing Medicaid reimbursement rates.



Rather than list all of these bullet points, they could have just said "Don't vote for republicans."


Thank you for further confirming your drastic misinformation.  Please explain why all these categories of poverty have radically increased since semi-retired President Barack Hussein Obama took office.  


Poverty rates for children have been on the rise since 2000.  This isn't a phenomenon that started with Obama.  

Child poverty in U.S. is at highest point in 20 years, report finds - Page 2 Original


With that said, I suspect that this trend - which has been in place since the 80's - probably has much to do with it.

Child poverty in U.S. is at highest point in 20 years, report finds - Page 2 Inequality-p25_averagehouseholdincom

When you find something going up to TODAY, let us know.  My gosh, you're trying to defend THIS administration with graphs that stop two years before he took office.  

How about showing the average and median household income since semi-retired President Obama took office.  


I gave you the charts that I gave you because those were the charts that I found.  This may come as a huge surprise to you, Markle, but even if the charts that I provided spanned to present day, that has no impact on the data from previous years, so that wouldn't negate anything that I said in my previous post.  Showing you child poverty data from 2014 or even projections into 2020 has no influence on the data from 2000.

Regarding your asking me to go do more research and post more data for you, I already posted two charts that show us the state of wealth and income distribution.  You don't realize this, though, because you're functionally illiterate.  The trend has been in place since the 80s.

Why don't you go back to page one, find and adult, and have them read my post to you?

Guest


Guest

Let's just add a zero to the end of every whole number. Why doesn't anyone care about the root issue... our currency?

boards of FL

boards of FL

PkrBum wrote:Let's just add a zero to the end of every whole number. Why doesn't anyone care about the root issue... our currency?

Because that isn't the root issue.

Guest


Guest

boards of FL wrote:
PkrBum wrote:Let's just add a zero to the end of every whole number. Why doesn't anyone care about the root issue... our currency?

Because that isn't the root issue.

Child poverty in U.S. is at highest point in 20 years, report finds - Page 2 Th?id=HN.607987195571210742&pid=15

What do you think is the root issue?

*****SMILE*****

https://www.youtube.com/watch?v=wQzUCO7rG0M

Smile



Last edited by Damaged Eagle on 10/27/2014, 8:00 pm; edited 1 time in total

Guest


Guest

My guess would be social justice... lol.

Guest


Guest

Child poverty in U.S. is at highest point in 20 years, report finds - Page 2 Th?id=HN.608020653370576766&pid=15

I love social issues...

*****CHUCKLE*****

https://www.youtube.com/watch?v=6bD9t44JUD4

Very Happy

Markle

Markle

Wordslinger wrote:
Joanimaroni wrote:
Wordslinger wrote:
Joanimaroni wrote:So,  giving more handouts is the answer. Ignore the root of the problem.

And just what is "the root of the problem?"  

What about making sure workers are paid a living wage?  Or is that too caring for you and your lot?

Usually wages are based on education, technical training and ability.  My lot has to comply....how about yours?

Free education.....all you have to do is show the fuck up.

That explains why so many Walmart and MacDonald's workers are on foodstamps, including those with college degrees ...  Reality!

Do you think that just maybe they should have gotten a degree is something other than gender science or music history, they might have a great job. A degree in engineering, computer science or other professions might have made a difference.

Why is it Walmart's or McDonalds responsibility to pay someone far more than their value?

Tell us Wordslinger, how many households are supported by only one person earning minimum wage?

Guest


Guest

Edumacation aintent kool.

2seaoat



What do you think is the root issue?

Wealth has no country and has no loyalty. When our tax codes were changed to allow the accumulation of wealth by fewer and fewer people, that lack of loyalty is the root of this nations ills since 1982. Real growth in the median income, return of the tax codes to the mid eighty rates, massive tax credits for job creation and retention, huge investments in infrastructure, disengagement from special interests and the MIC, and the root cause of this nation's quagmire will begin to cause further movement than what we have seen the last 6 years. This year will be a record grain crop. This year will bring near record oil and gas production. This year will bring record corporate profits. It is time to use the tax code to maximize our economy for all our citizens. A nation of beggars will never happen if wealth is forced to be loyal or find another country. Evil will fail.

Markle

Markle

2seaoat wrote:What do you think is the root issue?

Wealth has no country and has no loyalty.  When our tax codes were changed to allow the accumulation of wealth by fewer and fewer people, that lack of loyalty is the root of this nations ills since 1982.  Real growth in the median income, return of the tax codes to the mid eighty rates, massive tax credits for job creation and retention, huge investments in infrastructure, disengagement from special interests and the MIC, and the root cause of this nation's quagmire will begin to cause further movement than what we have seen the last 6 years.   This year will be a record grain crop.  This year will bring near record oil and gas production.  This year will bring record corporate profits.  It is time to use the tax code to maximize our economy for all our citizens.  A nation of beggars will never happen if wealth is forced to be loyal or find another country.   Evil will fail.

As you know, that is wrong. That is if your goal is to reduce poverty among children and not simply redistribute wealth in line your Socialistic goals.

2seaoat



As you know, that is wrong. That is if your goal is to reduce poverty among children and not simply redistribute wealth in line your Socialistic goals.

No, a person could call any tax collected socialistic......but that would require again an IQ south of 80. The tax code can either encourage vibrant longterm economic growth, or it can discourage it. Since 1982 we have seen what the disaster of trickle down economics has done to this nation.

Guest


Guest

2seaoat wrote:What do you think is the root issue?

Wealth has no country and has no loyalty.  When our tax codes were changed to allow the accumulation of wealth by fewer and fewer people, that lack of loyalty is the root of this nations ills since 1982.  Real growth in the median income, return of the tax codes to the mid eighty rates, massive tax credits for job creation and retention, huge investments in infrastructure, disengagement from special interests and the MIC, and the root cause of this nation's quagmire will begin to cause further movement than what we have seen the last 6 years.   This year will be a record grain crop.  This year will bring near record oil and gas production.  This year will bring record corporate profits.  It is time to use the tax code to maximize our economy for all our citizens.  A nation of beggars will never happen if wealth is forced to be loyal or find another country.   Evil will fail.

Child poverty in U.S. is at highest point in 20 years, report finds - Page 2 Th?id=HN.607990575708768369&pid=15

As I recall you claim to be one of those materialistic baby boomers who most likely utilized and supported those very tax codes to your benefit. If you want to go after the loop holes that have allowed the multi-millionaires like the Heinz's, Clinton's, and now your new blood stained Champion in the White House, from using them then by all means do so. However thinking you can continue taxing the small guy, even with taxes that aren't taxes... see ACA, then you're not helping anyone but the rich get richer. But then that's the plan from materialistic baby boomers like you who hold stock in the health industry and play poker for big stakes while you sit back and laugh at the people you can get to vote for your supposedly sympathetic causes as you rake in more money isn't it? Using your own money to help others would be too much to ask for, instead you expect charitable donations by demanding the small guy pay higher taxes(?) to do it for you so they become even worse off.

*****CHUCKLE*****

https://www.youtube.com/watch?v=jNc8lngG8xU

Smile



Last edited by Damaged Eagle on 10/28/2014, 12:04 pm; edited 2 times in total

Wordslinger

Wordslinger

Markle wrote:
Wordslinger wrote:
Joanimaroni wrote:
Wordslinger wrote:
Joanimaroni wrote:So,  giving more handouts is the answer. Ignore the root of the problem.

And just what is "the root of the problem?"  

What about making sure workers are paid a living wage?  Or is that too caring for you and your lot?

Usually wages are based on education, technical training and ability.  My lot has to comply....how about yours?

Free education.....all you have to do is show the fuck up.

That explains why so many Walmart and MacDonald's workers are on foodstamps, including those with college degrees ...  Reality!

Do you think that just maybe they should have gotten a degree is something other than gender science or music history, they might have a great job.  A degree in engineering, computer science or other professions might have made a difference.

Why is it Walmart's or McDonalds responsibility to pay someone far more than their value?

Tell us Wordslinger, how many households are supported by only one person earning minimum wage?

What's that got to do with the ever increasing number of children living in poverty in the U.S.A.?

Who should determine the value of a worker? The capitalist who seeks to exploit his workers? The issue is children living in poverty, and you obviously don't give a damn as long as the ultra rich get more and more and more ...

And you wonder why most Americans hate the republican party more than they hate Obama? Reality.


Guest


Guest

2seaoat wrote:What do you think is the root issue?

Wealth has no country and has no loyalty.  When our tax codes were changed to allow the accumulation of wealth by fewer and fewer people, that lack of loyalty is the root of this nations ills since 1982.  Real growth in the median income, return of the tax codes to the mid eighty rates, massive tax credits for job creation and retention, huge investments in infrastructure, disengagement from special interests and the MIC, and the root cause of this nation's quagmire will begin to cause further movement than what we have seen the last 6 years.   This year will be a record grain crop.  This year will bring near record oil and gas production.  This year will bring record corporate profits.  It is time to use the tax code to maximize our economy for all our citizens.  A nation of beggars will never happen if wealth is forced to be loyal or find another country.   Evil will fail.

Tax credits for creating jobs? Whoa!!!! Hillary just said businesses don't create jobs and "O" said "you didn't create that business" so what's the deal????

Guest


Guest

Wordslinger wrote:

What's that got to do with the ever increasing number of children living in poverty in the U.S.A.?

Who should determine the value of a worker?  The capitalist who seeks to exploit his workers?  The issue is children living in poverty, and you obviously don't give a damn as long as the ultra rich get more and more and more ...  

And you wonder why most Americans hate the republican party more than they hate Obama?  Reality.



Child poverty in U.S. is at highest point in 20 years, report finds - Page 2 Th?id=HN.607997726835147045&pid=15

If the economy is getting better as so many of you supposedly enlightened progressive liberals keep pointing out then how can there be more an more children in the United States living in poverty?

After all the trillions spent by your blood splattered Nobel Champion Of Peace in the last six years those children should be living fairly well... Unless he didn't spend it on making their lives better.

*****CHUCKLE*****

https://www.youtube.com/watch?v=diOuUYcenW0

Smile

Markle

Markle

2seaoat wrote:As you know, that is wrong. That is if your goal is to reduce poverty among children and not simply redistribute wealth in line your Socialistic goals.

No, a person could call any tax collected socialistic......but that would require again an IQ south of 80.  The tax code can either encourage vibrant longterm economic growth, or it can discourage it.  Since 1982 we have seen what the disaster of trickle down economics has done to this nation.

You are a hoot!

We enjoyed economic growth for a quarter century since President Ronald Reagan was elected in 1981.

Until the Democrat Driven economic collapse in 2008 in the housing/mortgage and financial world.

Keep up the good work 2seaoat. Must be your drugs but you're getting to be more and more fun!

ZVUGKTUBM

ZVUGKTUBM

Markle wrote:
You are a hoot!

We enjoyed economic growth for a quarter century since President Ronald Reagan was elected in 1981.

Until the Democrat Driven economic collapse in 2008 in the housing/mortgage and financial world.

Keep up the good work 2seaoat.  Must be your drugs but you're getting to be more and more fun!

Child poverty in U.S. is at highest point in 20 years, report finds - Page 2 Laughi50

The attendants must have let poster Markle into the computer room this afternoon.....

http://www.best-electric-barbecue-grills.com

Markle

Markle

ZVUGKTUBM wrote:
Markle wrote:
You are a hoot!

We enjoyed economic growth for a quarter century since President Ronald Reagan was elected in 1981.

Until the Democrat Driven economic collapse in 2008 in the housing/mortgage and financial world.

Keep up the good work 2seaoat.  Must be your drugs but you're getting to be more and more fun!

Child poverty in U.S. is at highest point in 20 years, report finds - Page 2 Laughi50

The attendants must have let poster Markle into the computer room this afternoon.....

ONCE AGAIN, for your obvious uninformed status as a Progressive.

Please read and educate yourself.

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore, put your fingers in your ears and scream la la la la la as loud as you can like screaming little girls.

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
August 5, 1997
http://archives.hud.gov/news/1997/pr97-135.cfm

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
http://tinyurl.com/ce7hh3

President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
http://tinyurl.com/yyd3uey

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
http://tinyurl.com/nmmns

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
http://tinyurl.com/4u9rnk

Democrats in their own words covering up the Fannie Mae, Freddie Mac
http://tinyurl.com/3nkrp7

Timeline shows Bush, McCain warning Democrats of Financial Crisis
http://tinyurl.com/4rj9nn


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

[…]

Read more: http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html

###

From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle




Wall Street Journal Barney’s Rubble – September 28, 2008
http://tinyurl.com/44pet5

Barney Frank in 2005: What Housing Bubble?
http://tinyurl.com/djqmnc

Maxine Waters & Barney Frank - Then Vs. Now -
http://tinyurl.com/ykcjm4a

Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
http://tinyurl.com/yk8etks


All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.

boards of FL

boards of FL

Bush seeks to increase minority homeownership

http://usatoday30.usatoday.com/money/perfi/housing/2004-01-20-fha_x.htm

In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.

In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.



President Hosts Conference on Minority Homeownership

http://georgewbush-whitehouse.archives.gov/news/releases/2002/10/20021015.html

While the overall homeownership rate has reached an all-time high of nearly 68 percent, recent statistics point to a homeownership gap. The second quarter 2002 Census data show that non-Hispanic whites have a 74.3% homeownership rate, while African-Americans have a 48% rate, Hispanics a 47.6% rate; and Asian-Americans and other races a 53.7% homeownership rate.

In June, President Bush announced an aggressive homeownership agenda to dismantle barriers to homeownership by providing down payment assistance, increasing the supply of affordable homes, increasing support for self-help homeownership programs, and simplifying the homebuying process and increasing education. The President also issued "America's Homeownership Challenge" to the real estate and mortgage finance industries to join in his effort to increase the number of minority homeowners by taking concrete steps to tear down the barriers to homeownership that face minority families.

The Bush Administration is working to increase homeownership among minority Americans through a number of new and expanded initiatives, as well as through ongoing programs administered by HUD and other federal departments, including:


Increasing Homeownership

http://georgewbush-whitehouse.archives.gov/infocus/achievement/chap7.html

The President set a goal to increase the number of minority homeowners by 5.5 million families by the end of the decade. Through his homeownership challenge, the President called on the private sector to help in this effort. More than two dozen companies and organizations have made commitments to increase minority homeownership - including pledges to provide more than $1.1 trillion in mortgage purchases for minority homebuyers this decade.

The Administration proposed the Zero-Downpayment Initiative to allow the Federal Housing Administration to insure mortgages for first-time homebuyers without a downpayment. Projections indicate this could generate over 150,000 new homeowners in the first year alone.


2002: Bush`s Speech To the White House Conference on Increasing Minority Homeownership

http://www.vdare.com/posts/2002-bushs-speech-to-the-white-house-conference-on-increasing-minority-homeownership


In his own words...


I set an ambitious goal. It`s one that I believe we can achieve. It`s a clear goal, that by the end of this decade we`ll increase the number of minority homeowners by at least 5.5 million families. (Applause.)

...

Freddie Mac recently began 25 initiatives around the country to dismantle barriers and create greater opportunities for homeownership. One of the programs is designed to help deserving families who have bad credit histories to qualify for homeownership loans. Freddie Mac is also working with the Department of Defense to promote construction and financing for housing for men and women in the military.

There`s all kinds of ways that we can work together to meet the goal. Corporate America has a responsibility to work to make America a compassionate place. Corporate America has responded. As an example — only one of many examples — the good folks at Sears and Roebuck have responded by making a five-year, $100 million commitment to making homeownership and home maintenance possible for millions of Americans.

There have been other steps that are being taken to close the homeownership gap. And you`ve heard some of the stories here today, people much more eloquent than me, to talk about what`s taking place on the front line of meeting this national goal.


Bush Pushes Minority Homeownership

http://articles.latimes.com/2002/jun/18/business/fi-homes18

ATLANTA — President Bush on Monday promoted his campaign to boost homeownership among minorities, saying he wanted the number of black and Latino homeowners to increase by at least 5.5 million by the end of the decade.

Bush, acknowledging he had set "a big goal," said it was achievable with the help of the private sector.

"When I lay out a goal, I mean it," Bush told several hundred people at Atlanta's St. Paul AME Church, which is located in a once-dilapidated, crime-infested neighborhood where a surge in home building has led to improvements.

Bush wants to close the gap in homeownership rates between whites and minorities, particularly blacks and Latinos. The nation's overall homeownership rate is at an all-time high of nearly 68%, the Department of Housing and Urban Development said. But whereas nearly three-quarters of all white Americans own their homes, less than half of all African Americans and Latinos do.

"And that's got to change for the good of the country," Bush said. "And I believe those of us who have been given positions of responsibility must do everything we can to spotlight the [American] dream and to make sure the dream shines in all neighborhoods, all throughout our country."


President Calls for Expanding Opportunities to Home Ownership

http://georgewbush-whitehouse.archives.gov/news/releases/2002/06/20020617-2.html


Again, in his own words...

And let me talk about some of the progress which we have made to date, as an example for others to follow. First of all, government sponsored corporations that help create our mortgage system -- I introduced two of the leaders here today -- they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion. (Applause.) I want to thank Leland and Franklin for that commitment. It's a commitment that conforms to their charters, as well, and also conforms to their hearts.

This means they will purchase more loans made by banks after Americans, Hispanics and other minorities, which will encourage homeownership. Freddie Mac will launch 25 initiatives to eliminate homeownership barriers. Under one of these, consumers with poor credit will be able to get a mortgage with an interest rate that automatically goes down after a period of consistent payments. (Applause.)

Fannie Mae will establish 100 partnerships with faith-based organizations that will provide home buyer education and help increase homeownership for their congregations. I love the partnership. (Applause.)




Well that's weird!  From 2002 on, Bush was pushing very aggressively for programs that sought to expand minority home ownership and grease the wheels for first time home buyers by way of eliminating down payments, providing subsidies, reducing borrowing restrictions, etc.  Further, he pressed private organizations to embrace this plan.  He engaged Freddie and Fannie for several years in various programs - again - aimed at getting more people into the world of home ownership, regardless of ability to pay or economic reality.  

How did that 6 year campaign turn out?


Bush drive for home ownership fueled housing bubble

http://www.nytimes.com/2008/12/21/business/worldbusiness/21iht-admin.4.18853088.html?pagewanted=all

ZVUGKTUBM

ZVUGKTUBM

I see Boards just shot even more holes in poster's Markle's arguments...... Razz

Child poverty in U.S. is at highest point in 20 years, report finds - Page 2 Untitl14

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