I knew Ronald Reagan and you are no Ronald Reagan

Larry Elder, one of my talk show heroes and the man who coined the phrase “Republitarian”, was a guest on the O’Reilly Factor last night and does a great job of explaining, factually, why government spending did not pull America out of the Great Depression nor will it work this time. What’s more he takes issue with Obama calling on the memory of John Kennedy and Ronald Reagan to push that plan. A good listen and why he ranks so high on my list of most admired people.

5 replies
  1. ckamoen
    ckamoen says:

    It's been said so many times.  "You can't write yourself a check and become wealthy", "You can't spendy your way out of debt", the Obama administration states it will create or save 4 million jobs with the passing of this stimulus bill.  Our country would be better served with a lower tax structure for those people and businesses who actually pay the taxes.  

    In my opinion, fi there should be any banking regulation it's the LTV ratio.  There was a day when second mortgages were a sign of financial weakness, The Heloc tool was handed out like candy for people to essentially pillage the banks.  People actually wanted to own a home, not rent it from a bank at one time.  We should all look forward to paying off our mortgage, instead of over leveraging our home to risk it all for other things.  If the Loan to Value ratio for HELOC were capped to no more than 50% it would prevent the level of overspending and speculation that got us where we are today.  The country as a whole is suffering for the stupidity and greed of some.

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