A Failed Social Program Almost Destroyed our Economy

The law of unintended consequences tied with the inability of the 51% of Americans who don't pay income taxes to understand the dangers to the economy of voting themselves government largess have come within a whisker of destroying our economy.

With the CRA act of 1978, we tried to move our low and no earners from housing projects (a good thing) into houses that they couldn't afford. Crash in 2008.

Congress is still trying to "jiggle" this same model, give them a loan that they can't repay in housing and - soon - in all forms of credit with the new Federal Credit Protection Act.

Any wonder that our system crashed?
An wonder that banks won't make loans? If they make you a loan, they will have to make a similar loan to EVERYONE!

Until congress comes to its senses, this spiral will continue until we have truly destroyed our economy - and a large part of the economies of the rest of the world.