Why Hasn’t the Economic Recovery that Obama Promised Happened?

[Geee]

Pajamas Media:

Part of the answer came in the mail yesterday. Something called “Quicken Loans” (“Engineered,” the letter promised, “to Amaze™”) arrived with the rest of the junk mail offering me an “excellent refinance opportunity.” It turns out that I’m “pre-qualified” for gobs of cash at a special low, low interest rate. Apparently, all I need to do is call their 800 number to discuss my “specific situation” and then toddle around and help myself to the lucre.

This attractive offer is made possible by the outfit’s “partnership” with the Federal Housing Administration, “the largest insurer of mortgages in the world.” The loan would be, the flyer explains, a “great choice in today’s market.” And why? Because FHA loans “offer less strict credit and qualifying guidelines than other mortgages.” That’s right folks, Quicken Loans can offer

* Minimal credit requirements
* Refinance up to 97.75 of your home’s value
* Cash-out refinance up to 85% of your home’s value

And who underwrites the risk? Why you do, chump. You, the taxpayer, pay for the indemnification. You take the bath in case of default and foreclosure. (In 2010, by the way, banks repossessed 1 million homes.)

Now, class, why did the 2008 economic collapse happen? You there, waving your teleprompter: Mr. Obama: what say you? George Bush? Wrong answer.

[Casino67]

VIDEO: The Obama Economy Is Killing Jobs, Restaurant CEO Explains

 

//This is one of the reasons Obamacomy is failing and flailing.//

 

Video

[Argyle58]

Why hasn't ANYTHING that Obama promised happened?

[clearvision]

Well he did promise change and things have been changing... not necessarily for the good though.

[Argyle58]

Well he did promise change and things have been changing... not necessarily for the good though.

 

He also promised HOPE to go along with that change. Ain't a lot of that goin' around.