The pork in the bill makes in indigestible to me, but I can’t help but think there is much more to this tham what we are being led to believe. Yes, the CRA may have started it, but I believe what DeMint said about China and Saudi Arabia. They bought the bad loans and have no interest in the properties secured by the mortgages. They may be threatening to withhold “investment” until we solved the problem. Not much we can do - we have slowly let those countries get us by the short curlies. Remember when we all used to ignore the National Debt as it was just “money we owed ourselves”???
But how is it better to a) print nearly one trillion more dollars/further devalue the dollar, or b) borrow another trillion from our enemies in China and the middle east? Seems to me that that is much more dangerous than a recession.