Obama's Greatest Failure

Noted here:

"He could have saved middle-class homes with a New Deal-style mortgage bailout, dramatically reducing economic inequality, but further enriched the 1 percent instead."

Right: our great "egalitarian" president had a choice (given he was going to bail out someone!):
  1. Bail out mortgage holders: the banks would survive, and struggling people would keep their homes.
  2. Bail out the banks, and let them seize the homes of the people whom they had duped into taking on ridiculous mortgages.
And, my friends, which option did our great "man-of-the-people" choose?

The large number of counties that swung from supporting Obama in 2008 and 2012 to supporting Trump in 2016 didn't do so because these voters, who had supported a black man for president against a white man, had suddenly turned "racist" and... backed one white candidate against another white candidate?

Nope: they realized that Obama had completely sold them out to keep the Wall Street money spigots open. Perhaps they were over-optimistic to think Trump wouldn't do the same, or perhaps not. But if progressives are puzzling over "what happened," they might contemplate the fact that their guy, given a choice between bailing out struggling homeowners or wealthy bankers, did not hesitate for a second in choosing the latter.

PS: And I will note that, like those numerous swing counties, I too supported Obama in 2008 and 2012. And I don't even regret this: as bad as Obama's foreign policy was, McCain's and Romney's would almost certainly have been worse, and McCain also would have picked the banks over the mortgage holders in 2009.

Comments

  1. Yeah, pretty bad. Just the Holmes-Rahe inventory measure of stress inducing illness alone probably resulted in not quite a few premature deaths notwithstanding the spike in suicides. Just the fallout from this his one of many bad choices places Obama in the pantheon of morbidly malicious ghouls.
    However, Obama's murder of 8-year old Nawar al-Awlaki and her brother, 16-year old Abdulrahman after the assassination murder of their father Anwar preserves Barack's special place in Hell. I imagine President Barry, one of the truly Great Influencers of our time, will get to choose his place in Dante's 7th, 8th or 9th circle. While vile rumor and established behavior suggest his preference being the 7th circle to commingle with his fellow sodomites and usurers, the 9th circle appears a most appropriate resting place for having been the Chief Executive who betrayed through murder that special relationship in a democracy between a President and his/our fellow citizens Anwar, Abdulrahman, and Nawar al-Awlaki.

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  2. "I will note that, like those numerous swing counties, I too supported Obama in 2008 and 2012. And I don't even regret this: as bad as Obama's foreign policy was, McCain's and Romney's would almost certainly have been worse, and McCain also would have picked the banks over the mortgage holders in 2009."

    Yep.

    I was just reading a Democratic writer's piece bemoaning the fact that many rural "flyover country" voters who are dependent on Medicaid vote Republican, "against their own interest."

    My response included one possible factor being that those voters have other priorities they consider more important than Medicaid and that they think Republicans are better on. It also included the fact that being dependent on something isn't the same thing as WANTING to be dependent on something.

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  3. You nailed it, Gene.

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  4. Oh Gene, Gene. Facts again.

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  5. I think a moratorium on foreclosures would've been better. Foreclosures always seemed like government action to me, so I've never had a problem with stopping them. It fits in the mold of "small government".

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