Subprime (Part Duh)

By Brent Parrish

The dishonesty of Barack Hussein Obama is nothing short of pathological; it’s astonishing in its audacity. But maybe that’s what Barack Obama’s slogan “The Audacity of Hope” is all about—audacious deception for the express purpose of fulfilling the predetermined ends of the radical (extreme) left.

Consider the debates between Barack Obama and Mitt Romney running up to the 2012 presidential election. Obama clearly stated sequestration “would not happen.”

Politico reported:

President Obama said unambiguously that the scheduled military cuts ordered by Congress in the absence of a debt-reduction deal will never take place.

Taking criticism from Mitt Romney over the slashes to defense spending set to kick in at year’s end, Obama emphasized that sequestration was not his idea.

“It’s something that Congress proposed,” Obama said. “It will not happen.”

Obama blamed Congress for the sequester, as he is wont to do, but even Bob Woodward claimed this just wasn’t true.

Woodward wrote at the Washington Post:

The finger-pointing began during the third presidential debate last fall, on Oct. 22, when President Obama blamed Congress. “The sequester is not something that I’ve proposed,” Obama said. “It is something that Congress has proposed.” The White House chief of staff at the time, Jack Lew, who had been budget director during the negotiations that set up the sequester in 2011, backed up the president two days later. “There was an insistence on the part of Republicans in Congress  for there to be some automatic trigger,” Lew said while campaigning in Florida. It “was very much rooted in the Republican congressional insistence that there be an automatic measure.”

The president and Lew had this wrong. My extensive reporting for my book “The Price of Politics” shows that the automatic spending cuts were initiated by the White House and were the brainchild of Lew and White House congressional relations chief Rob Nabors — probably the foremost experts on budget issues in the senior ranks of the federal government.

Obama personally approved of the plan for Lew and Nabors to propose the sequester to Senate Majority Leader Harry Reid (D-Nev.). They did so at 2:30 p.m. July 27, 2011, according to interviews with two senior White House aides who were directly involved.

Despite all this, Obama continues to insist the sequester was not his doing.


But the deception didn’t stop there. During the debates, Obama claimed the Republicans were going to slash Medicare funding. But Mitt Romney rightfully pointed out that is was Obama who slashed $718 billion from Medicare to pay for Obamacare.

Obama stared at the ground and had no rebuttal; he was called out on his lies.

During Obama’s State of the Union address in 2012 he stated the following:

“In 2008, the house of cards collapsed. We learned that mortgages had been sold to people who couldn’t afford or understand them. Banks had made huge bets and bonuses with other people’s money. Regulators had looked the other way, or didn’t have the authority to stop the bad behavior.

It was wrong. It was irresponsible. And it plunged our economy into a crisis that put millions out of work, saddled us with more debt, and left innocent, hard-working Americans holding the bag. In the six months before I took office, we lost nearly four million jobs. And we lost another four million before our policies were in full effect.

Those are the facts….”

Despite all his claims contrary, the president is now asking America to return to the failed radical leftist policies of the past which resulted in the complete meltdown of the housing market and sent the U.S. economy spiraling out of control. Incredibly, Obama is pressuring banks to provide loans and mortgages to high-risk, low-income borrowers.

Washington Post reported:

The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

It appears to me that Obama is once again trying to level the playing field. Just when the housing market is allegedly rebounding, Obama wishes to tamp down any economic growth in the private sector under the guise of equality and fairness.

In December of 2012, reported:

A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing market (the Community Reinvestment Act–enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

James Simpson wrote an article back in 2008 for American Thinker entitled “Barack Obama and the Strategy of Manufactured Crisis” which outlined Barack Obama’s involvement with ACORN and his efforts to vastly expand Jimmy Carter’s Community Reinvestment Act of 1977:

ACORN showed its colors again in 1991, by taking over the House Banking Committee room for two days to protest efforts to scale back the CRA. Obama represented ACORN in the Buycks-Roberson v. Citibank Fed. Sav. Bank, 1994 suit against redlining.  Most significant of all, ACORN was the driving force behind a 1995 regulatory revision pushed through by the Clinton Administration that greatly expanded the CRA and laid the groundwork for the Fannie Mae, Freddie Mac borne financial crisis we now confront. Barack Obama was the attorney representing ACORN in this effort. With this new authority, ACORN used its subsidiary, ACORN Housing, to promote subprime loans more aggressively.


As a young attorney in the 1990s, Barack Obama represented ACORN in Washington in their successful efforts to expand Community Reinvestment Act (CRA) authority. In addition to making it easier for ACORN groups to force banks into making risky loans, this also paved the way for banks like Superior to package mortgages as investments, and for the Government Sponsored Enterprises Fannie Mae and Freddie Mac to underwrite them. These changes created the conditions that ultimately lead to the current financial crisis.

The economic policies of Obama and his minions are destroying any hope of renewed prosperity and growth in the private sector. Moreover, the sort of double-speak and outright deceptions in which Obama and his ilk engage in are saddling future generations with debt that will not be able to pay—nothing short of inter-generational theft. Is that Obama’s version of fairness and equality? Just what is fair to the extremists of the radical left?

It appears to me that Barack Hussein Obama has a serious problem with rigorous honesty.

Am I saying Obama is a liar?

Yes … and a pathological liar at that!

About Brent Parrish

Author, blogger, editor, researcher, graphic artist, software engineer, carpenter, woodworker, guitar shredder and a strict constitutionalist. Member of the Watcher's Council and the Qatar Awareness Campaign. I believe in individual rights, limited government, fiscal responsibility and a strong defense. ONE WORD: FREEDOM!
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