When making his case for Congress to pass a $35 billion stimulus package, Vice President Joe Biden claimed that there is “a simple reason” for the rise of rapes and murders in many cities, pointing to the “God-awful Ponzi schemes” the Bush administration “allowed Wall Street to engage in.”
Biden called for millionaires to pay for the “Teachers and First Responders Back to Work Act,” which would send $35 billion to states and local governments to hire teachers, firefighters, police and first responders.
“In many cities, the result has been — and it’s not unique — murder rates are up, robberies are up, rapes are up and folks, there’s a simple reason for it. There’s been a perfect storm out there — these God-awful Ponzi schemes that the last outfit allowed Wall Street to engage in resulted in this gigantic collapse of the financial industry. Housing — the bottom fell out,” Biden said during a rally in the Senate Russell Office building with a packed house of firefighters and members of the AFL-CIO.
“Foreclosures increased, particularly in poorer neighborhoods. Abandoned homes are created. Drug lords move in. Arson increases. Budgets fall because the property taxes fall. Cops and firefighters get laid off. Response times increase from five minutes to 30 minutes, and people die, and people’s homes burn to the ground.”