Opinion

Plenty of blame to go around

Posted January 20, 2012 4:00 am

In a Jan. 10 Fence Post letter, Lanlan Hoo asked, “Am I missing something here?” with regards to the GOP being responsible for the huge deficits and economic meltdown. The answer is a resounding “yes.”

Right now, if things don’t change, President Obama is on pace to borrow $6.2 trillion in one term. That is more than all presidents from Washington through Clinton combined.

The mortgage crisis, a part of the economic meltdown, can be traced to the Clinton administration which pressured mortgage lenders to provide subprime loans so that “anyone could enjoy the American dream of owning a home.” All well and good until they actually had to pay for something they couldn’t afford.

Foreclosures were inevitable. The perpetrators had no interest in helping at that point. Better to back away and blame big business. There is plenty of blame to go around for both parties regarding the mess the country is in. If you look only in one direction, you will miss much.

Terry Tallian

Wood Dale

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