Why do people like to blame bush alone for this rescission?
December 222009
When it was more than just bush
There was the democratic congress with there government action, not the free market or capitalism. Government intervention, government spending, and the Federal Reserve’s liberal chairman, Alan Greenspan, that had killed our economy as well so how is this all bush’s fault
there was also the Treasury Department under the Clinton Administration which established the Community Development Financial Institutions Fund
which caused the destruction of the banks, the housing market was also destroyed. Prices began to go up, and millions who could not pay back their loans lost their houses Fannie Mae, Freddie Mac Scam as well.
The recession wasn’t his fault. He knew we were facing problems and asked the congress to do something about it but Barney said all was well with Fannie and Freddie and everyone preferred to believe him. It could have been too late by then already. The laws passed during the Clinton administration by both parties caused the recession.
December 22nd, 2009 at 8:27 pm
rescission, eh?
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December 22nd, 2009 at 9:03 pm
It is always easier to blame the other guy than man-up and take the blame!
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December 22nd, 2009 at 9:12 pm
The recession wasn’t his fault. He knew we were facing problems and asked the congress to do something about it but Barney said all was well with Fannie and Freddie and everyone preferred to believe him. It could have been too late by then already. The laws passed during the Clinton administration by both parties caused the recession.
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December 22nd, 2009 at 10:02 pm
You need to do a bit of serious research on your own Ricky. You also need to be careful about getting your information from political sites.
I suggest looking at economists for the history and some commentary.
The problem is bigger than just Bush, but the answers would likely surprise the crap out of you.
Bush’s policies certainly did do a lot to cause the current recession.
The problems go back a long way but they became much worse under Reagan.
GW Bush was just the latest act in a long story.
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December 22nd, 2009 at 10:11 pm
There are a few reasons for our current situation. One that pops into my head would be the "Financial Services Modernization Act of 1999". The negative effects of that bill happened while Bush was president. He also was blocked by a democratic congress, on free trade agreements with several countries (would have created more jobs). I’m pretty sure Clinton raised taxes more then any president in history (creates less jobs). I dont know about anyone else but I can spend my money better then the government.
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December 22nd, 2009 at 10:49 pm
For the simple fact that they cannot come to terms (like their dear president) for their shortfalls and failures of an economy and a record deficit to which they have NO control over either!
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December 22nd, 2009 at 11:39 pm
Your right heres a video that exposes the democrats as well
http://www.youtube.com/watch?v=_MGT_cSi7Rs
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