When the Democrats in Congress were messing up the economy, why didn’t George Bush stop them?
November 172009
(I rephrased my previous question because some people complained about it.)
http://answers.yahoo.com/question/index;_ylt=AoUrucAiHyzMHfOABAiHdl7sy6IX;_ylv=3?qid=20081030110351AAvcWHr
Please be specific as to exactly what messed up our economy.
it wasn’t one party that screwed it up and you have to place some blame on the people themselves for taking out loans and lines of credit they couldn’t afford
November 17th, 2009 at 4:50 pm
The problems with today’s economy began LONG before the Democrats had a majority in Congress.
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November 17th, 2009 at 5:40 pm
And who controlled congress for the first 6 yrs of his term? Oh, wait…the Republicans. That’s right.
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November 17th, 2009 at 6:23 pm
To answer your question, Bush doesn’t have a clue.
As to your other point, McCain’s chief economic advisor, Phil Gramm didn’t feel that the financial giants needed any oversite.
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November 17th, 2009 at 7:07 pm
it wasn’t one party that screwed it up and you have to place some blame on the people themselves for taking out loans and lines of credit they couldn’t afford
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November 17th, 2009 at 7:54 pm
Out of control government spending. Bush got what he wanted…and the natural inclination of the Democrats is to spend…so they did.
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November 17th, 2009 at 8:08 pm
I think the seeds for the current problems were planted some years ago before Bush was President and before Democrats controlled Congress. Actually a Democrat was President and Republicans controlled Congress. No one foresaw the problems they would cause because both parties think home ownership for all is just a swell idea.
Oh, I also blame average Americans for buying things they couldn’t afford or could barely afford.
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November 17th, 2009 at 8:54 pm
Votes and the economy,
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November 17th, 2009 at 9:43 pm
He has to ask Darth Cheney first.
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November 17th, 2009 at 10:20 pm
A U.S. President do not have absolute power.
Congress is the one who makes the law.
Bush’s failure is appointing the wrong person to over see the economy.
What mess up the economy was the wall street greed’s, such as Fannie and AIG., and the congress laws which allow risky loans.
Both Democrat and Republican are to blame.
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November 17th, 2009 at 10:45 pm
The congress has been republican controlled for 14 of the past 16 years.
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November 17th, 2009 at 10:53 pm
The people responding don’t see the full extend of today’s situation. They talk about the last 2-6 yrs. This mess started long before then. And there certainly is blame to go around to all. This housing mess started with, I hope, good intentions. Simple premise was to get more mid to lower income people into home ownership. Sounds good to me, how about you? What happen? Well part of it was our old friend ACORN pushing for more laxed lending standards. ( now to be accurate, don’t forget. at that time Obama was one of their paid advisers) They brought great pressure on the politicians at that time to pressure the financial institutions to lighten up on mortgage requirements. So we started to see some folks buying houses that were at the top of their abilities to pay. Then the banks, etc discovered an opportunity to get a little creative with additional loans. We started seeing more and more "Sweet starter interest rates", and people being qualified for larger mortgages. The banks were able to package these mortgages and resell for huge profit, ( greed kicks in). Of course we had a watch dog committee in Congress that did nothing. We also had McCain send up the warning flag but no one wanted to take action because we were indeed getting more and more folks into homes. I assume you know the rest, interest rates go up, housing values go down, people lose jobs, and here we are. So who’s at fault? President Bush or only the republicans? Of course not, we have a case here of people with their minds in the right place to start, but with lack of action from anyone, the bottom falls out. Last thought, have you forgotten all of the Bush vetos? Go back and take a second look. In many cases the vetos were used to try and hault the budget busting proposals by the congress. Some held, some were passed over the veto. as I said, the blame goes all around.
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