Open Question: Is the U.S. Congress to blame for our financial crisis?

George Bush has been in office for 7 1/2 years. The first six the economy was fine. A little over one year ago: ·Consumer confidence stood at a 2 1/2 year high; ·Regular unleaded gasoline sold for $2.19 a gallon; ·The unemployment rate was 4.5%. ·The DOW JONES hit a record high–14,000 + ·Americans were buying new cars, taking cruises, vacations overseas, living large! But Americans wanted “change”. So, in 2006 they voted in a Democratic congress and yes–we got “change” all right. In the past year: ·Consumer confidence has plummeted; ·Gasoline is now over $4 a gallon & climbing!; ·Unemployment is up to 5.5% (a 10% increase); ·Americans have seen their home equity drop by $12 TRILLION DOLLARS and prices still dropping; ·1% of American homes are in foreclosure. ·The DJIA closed at 10,320 today – down 160 points despite the Wall Street bailout. ·$2.5 trillion dollars has evaporated from their stocks, bonds & mutual funds investment portfolios! Yes, in 2006 America voted for change…and we sure got it! …. Remember the president has no control over any of these issues, only congress has. What has congress done in the last two years? Absolutely nothing. Now the Democratic candidate for president, Obama, claims he is going to really give us change along with a Democratic congress!!!! Just how much more “change” do you think you can stand? There is a reason why “Private Jet - Perks Pelosi” is the most despised person in government. She is hated by Republicans and Democrats alike. more…

more…

We are about to have our house foreclosed. We own another property in the same county that we bought for 8K cash in 2000 and we use it as a rental. It is worth less than 15K. I am wondering if the bank will sue us for a deficiency judgment to place a lien on our rental house. The rental house does not show up on any credit reports since we paid cash. more…