Lodinews.com

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

Look at the facts about Social Security, the housing market

Print
Font Size:
Default font size
Larger font size

Posted: Wednesday, October 24, 2012 12:00 am | Updated: 1:07 pm, Thu Oct 25, 2012.

A conservative viewpoint to a letter Mr. John Lucas wrote on Sept. 1, "Liberalism builds a strong economy." He stated that liberalism is not an ideology. My suggestion: He should lookup the meaning of "ideology." That statement doesn't make sense. He stated liberalism starts with the facts and tries to solve problems.

Well, where are the liberals on Social Security? The facts: It's going to go broke, and that's a mathematical fact. The only president who addressed the issue was Ronald Reagan, who was able to work with a Democratic Congress to raise the age one could draw maximum Social Security benefits. We're living longer, so that's about as good a solution as you can have. And it's based on facts.

Nothing was done when President Bush asked the Democratic Congress to look into the Social Security problem. They said, "We have plenty of time." The Democrats are not looking out for the people, it's what they think benefits them at the voting booth.

Mr. Lucas mentioned the current financial problem that we're going through. He blames it on the Republicans. Not so fast. We all know the main problem was the sub-prime mortgages. Making loans to unqualified borrowers was a Democratic Congressional mandate made in 1992 when President Clinton was president, and gave Fannie and Freddie a new and affordable housing mission. In 1995 this mandate required regulators to make sure that banks were making loans to borrowers whose credit standing did not qualify them for a conventional mortgage loan. Rep. Barney Frank, D-Mass., the chair of the House Financial Services Committee, later said it was a mistake to force home ownership on people who could not afford it — now he tells us.

Both President George H. W. Bush and President George W. Bush warned Congress that Freddie and Fannie had grown so big that it could cause problems in financial markets. Sen. Chuck Schumer, D-N.Y., said, "I don't know what they are talking about, there is no problem with the housing market." I heard him right on the news.

Mr. Lucas should put the blame where it belongs.

Darryl Bettencourt

Lodi

Comments have been disabled.

Recent Comments

Posted 57 minutes ago by Simon Birch - Online Manager.

Posted 1 hour ago by Joanne Bobin.

Posted 1 hour ago by Joanne Bobin.

article: Letter: It is now time for honest change

I'm not sure which newspaper Mr. Viall is referring to when he states that "letters" written "appear to be a lame attempt fr…

More...

Posted 2 hours ago by Joanne Bobin.

article: Students’ behavior at dances raises con…

Shouldn't that read "Students' " and not "Student's"? Curious what the fee is to rent this hall and WHO is financing i…

More...

Posted 5 hours ago by Joe Baxter.

article: Letter: Pastor Frank Nolton forgets abo…

Tom, you mean spirited as in trying to smear someone’s reputation and hurt their business because they don’t condone the gay lifestyle? The…

More...

Video

Popular Stories

Poll

Should graduations return to the Grape Bowl?

Lodi Unified leaders are moving Lodi and Tokay high school graduations from the Grape Bowl to the Spanos Center at UOP in Stockton. They cite limited seating, costs and unpredictable weather at the Grape Bowl. But others say graduations at the Grape Bowl are an important Lodi tradition, and one reason many supported renovating the stadium. What do you think?

Total Votes: 202

Loading…

Mailing List

Subscribe to a mailing list to have daily news sent directly to your inbox.

  • Breaking News

    Would you like to receive breaking news alerts? Sign up now!

  • News Updates

    Would you like to receive our daily news headlines? Sign up now!

  • Sports Updates

    Would you like to receive our daily sports headlines? Sign up now!

Manage Your Lists