___The “Patient Protection And Affordable Care Act”, PPACAA, was passed to insure everyone for medical care. The Emergency Medical Treatment and Labor Act had passed in 1986 requiring EMT facilities to treat anyone – legal or illegal. The PPACAA would hopefully limit the higher-cost EMT visits to true emregencies and reduce the closures of EMT facilities in border states. It is better known as the biggest tax in United States history as defined by the Supreme Court!
___It is true the United States was entering a dramatic recession caused by an overheated housing boom and subsequent bust. Administrations for decades had been advocating for home ownership as the “American dream,” even to the point of threatening lawsuits for racism if loans were not approved – regardless of the creditworthiness of the borrower. The Federal Reserve assisted with historically low rates for money with no end in sight. The “irrational exuberance” this caused was noted!
___Republican Senator Phil Gramm had succeeded in getting Glass-Stiegel repealed in the late 1990s. This allowed bankers to gamble with depositors' money. The bankers divested themselves of the bad loans as quickly as possible by creating witches brews called derivatives. Credit rating companies assisted by giving the derivatives high ratings. When the bad loans within these failed, the house of cards began to unravel. The Bush and Obama administrations used the Troubled Assets Relief Program to bail out the bad betters like big financials, GM, Chrysler and AIG with taxpayer money. The 10 “to-big-to-fail” banks became the 5 “to-bigger-to-fail” banks with 77% control of all U.S. banking.
___The Congress sought to contain the problem they had helped to create with Dodd-Frank (named after two in Congress who had personally benefitted by the misdeeds). Onerous new regulations applied to all banks – not just the TBTF banks. The Consumer Financial Protection Board was created to protect us from ourselves (bad people convinced us to buy $500,000 homes on minimum wage salaries).
___Most - about 90% - of student loans were absorbed by the taxpayers. The total is over $1.3Trillion owed by over 40,000,000 Americans (who happen to be at least voting age). The default rate has gone up each passing year and is currently abou 17%. The Obama administration has been aggressive in forgiving student loans. Taxpayers fund the insanity.
___The President and Secretary of Energy have been anti-nuclear. They closed the waste repository in Nevada when over $14Billion of energy customers fee payments for the facility had been spent for construction. When the number of “green jobs” was published, most were from the existing nuclear power industry. Many of the new jobs for which Obama takes credit have been in the petroleum industry that he has tried to shackle and kill. He has almost succeeded in killing the coal industry.
___The President has been an isolationist on foreign policy. Our enemies have been only too happy to fill the gap. Americans have evidently died in vain in the Middle East. Democrats who rant about American deaths in “Bush's War” have evidently forgotten the 58,000+ in “Johnson's War!”
___The President – assisted by the Supreme Court in a bizarre decision – has blessed homosexual sex in all states. States rights (10th Amendment) has been erased. Laws can also be modified at will by SCOTUS decisions.
___At every opportunity, establishment Republicans have given in to Democrat demands. Even though Speaker Boehner has resigned, he was replaced by another “moderate” (55% conservative) Republican. At least Paul Ryan thinks debt is a problem and not a solution!
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