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The Coming Age of Austerity

JPK2 Wrote: Nov 06, 2012 2:46 PM
The Community Reinvestment Act, The growth of the mortgage derivatives, the huge growth of Freddie and Fannie Mae were all accomplished when Bill Clinton was President. And Feddie and Fannie were run by deep pocketed, wealthy Dems from 1994-2006 (does Rahm Emanual, Howard Raines, and Jamie Gorelik sound familiar? They should. They are all Dems).
"Are the good times really over for good?" asked Merle Haggard in his 1982 lament.

Then, the good times weren't over. In fact, they were coming back, with the Reagan recovery, the renewal of the American spirit and the end of a Cold War that had consumed so much of our lives.

Yet whoever wins today, it is hard to be sanguine about the future.

The demographic and economic realities do not permit it.

Consider. Between 1946 and 1964, 79 million babies were born -- the largest, best-educated and most successful generation in our history. Bill Clinton and George W. Bush, both born...

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