There Is A study That Confirms The Democrats Destroyed The U.S. Economy

John A Pappas

This has to be talked about mainly for the fact in certain states the housing industry is till in dismay with homes being up-side down and families still going into foreclosures. It also has to be shown that it was the policy’s of President Carter and Clinton that placed the seeds for this economic destruction.

The National Bureau of Economic Research which is highly respected has confirmed beyond a doubt that the Community Reinvestment Act (CRA) which was enacted by President Carter, is directly responsible for the housing market collapsing and destroying the U.S. economy.

There is a myth out there that since the CRA was passed in 1977 by Carter, long before the subprime crisis, it couldn’t have caused the explosion in bad loans, but when it expired in 1997, President Clinton rewrote the regulations to toughen CRA enforcement as part of a crusade to close the “mortgage gap”…

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