How is the high unemployment rate and poor economy Bush’s fault?
Posted by admin in Finance Sunday, 30 October 2011 15:30 6 Comments
I hear this statement every time someone defends Obama, and the poor economic conditions we are in.
It’s Bush’s fault, they say. So what did Bush do to cause this bad economy? Do people who make this claim actually know what they are talking about, or are they just repeating the rhetoric they have heard?
Is it Bush’s fault because of his tax cuts for the rich? Didn’t Obama extend those tax cuts? Is it because of Bush’s spending? Didn’t Obama triple Bush’s spending? How is the high unemployment of today Bush’s fault? Thanks.
Still waiting for liberals to explain the 9.1% unemployment rate.
It’s Bush’s fault because he rubber-stamped every piece of deregulation of big business that the lobby-bribed, Republican-controlled Congress sent his way. For example, deregulation of the financial system allowed Wall Street to turn the housing industry into a giant Ponzi scheme, one that came crashing down in 2007 and 2008. Bush also expanded free trade agreements, like with China, and facilitated the exportation of American manufacturing jobs.
Tax cuts and spending don’t really explain high unemployment rate and poor economy. They explain a ballooning National Debt. Obama continued those policies in an effort to stimulate economic recovery. Also, Obama did not triple Bush’s spending; Bush’s final year of spending had a deficit of over $1 trillion dollars, thanks to a loss of tax revenue due to economic collapse.
The tax cuts for one were NOT funded,so we borrow from china to give to the wealthy,then the 2 wars were also not funded (the Iraq war was STUPID like bush ,i could go all day about this war it was lies that got us in this war.We were shedding JOBS almost the entire time bush was in office,this is not a new trend(we are Slowly adding jobs back now)Obama did NOT triple spending ,obama put the cuts and the wars back on the budget,the banks collapsed as well as the stock market while bush was in office,,,,,and with all this you think humpty dumpty is going to be put to gather overnite???My question to you is were you in a COMA when bush left office???? that was severe crap he put us in.Clinton handed Bush a surplus AND HE PISSED IT AWAY,,,,,IF you stuck a knife in your heart and pull the knife out you think you will recover right away?
It’s not really. Although I think he could have fought off Barney Frank and Senator Dodd a little harder back in his first term…..maybe the disaster could have been averted.
the high unemployment did not start with bush, it did not start with obama. it started long before all of us were born unless you are at least 100 years old. it started when the politicians became career politicians. before they learned to live in the real world. it started with the first time they found loop holes in the laws of the land that govern this great country and instead of fixing the loop holes they used them to further their own personal agenda. then they started passing laws that infringed on the rights of the citizens. and have continued to do so. they have done nothing to change the overall economic condition of the masses. remember bill clinton saying that the united states would be fine after nafta, we would become a service nation. whoops India beat us to that one too.
i do not blame any one man for this problem but i do blame all that have allowed it to continue and the ones that are escalating it on a daily basis and do nothing but blame the other guy. the president is set up to be a figurehead with little power but the ability to lead. congress is the ones to blame. they are the ones that are to be in control and have done little. all laws for this land must originate in congress, they must be passed by two houses then if vetoed by the president they simply need to vote on it again and it becomes law. if it is good enough for once then it should be good enough for twice. spending is controlled by congress, they are required to fashion a budget. they are required to know what is being spent and where. if they do not then they are not doing their jobs. they are the boss.
i am leaning toward cain at this time because he has proven to be able to tackle real problems and not create new ones nor blame someone else. he is a businessman and as a businessman i hope he or someone else can bring this situation under control.
Actually it’s the fault of the Regan administration, most specifically the deregulation of the financial industry that happened during that time.