Economic Meltdown NOT Caused by Bush Policies!!
By rodney850
@rodney850 (2145)
United States
September 29, 2008 9:14am CST
It is easy to sit back and blame GWB for all of the woes of the past 8 years since he is the president, right? He is to blame because of his tax cuts, he is to blame because of the war(s), and he is mostly to blame, simply because he is republican. I've touched on this subject before but I believe it bears repeating since we have many new members here at MyLot.
About 20+ years ago a president named Jimmy Carter(democrat), albiet with great intentions, signed into law the Community Reinvestment Act. This law was supported and even strengthened during the Clinton(democrat) years in the whitehouse and this act encouraged if not made it almost mandatory for lenders to loosen home loan standards. As almost everything the government does socialistically with "good intentions" this snow-balled into the total mess we have today. Now, the republicans will be the ones touted as having increased government, made it bigger if you and that will be true but, and this is a huge but, it is absolutely necessary if America and free enterprise are to survive, economicallly.
Here is an article which outlines the mistakes made years ago and the bitter pill we must now swallow!
http://article.nationalreview.com/?q=MWU2ODgzNzg2MmIyN2Y3ZWFjY2ZlODVmMTgzYjMwMjY=
2 people like this
8 responses
@Taskr36 (13963)
• United States
29 Sep 08
You're just wrong Rodney. It's ALL Bush's fault. He bred and trained Osama bin Laden. He bioengineered AIDS and HIV to kill black people. He used weather manipulation to direct Katrina at New Orleans because he hates that state. He conspired both to fake the 9-11 attacks, and then framed his unwitting pupil Osama bin Laden. He cranked up gas prices for fun. Bush made people drop out of school and work minimum wage. He even made teenage girls have babies. He is such a jerk! He is all that is evil and you're hate speech won't change that.
[/sarcasm]
2 people like this
@bestboy19 (5478)
• United States
29 Sep 08
I'm not sure what the woes of the past eight years are, except that the majority republicans were spending too much money and enlarging the federal government after they said they were the party of smaller government. In 1976 after the Nixon administration, the American people were going to teach the republicans a lesson, so they elected Jimmy Carter. Need I say more. In 2006 the American people were going to teach the republicans a lesson, so they made the democrats the majority, and what have they done these past two years? NOTHING! I don't think any congress has had a lower approval rating than this one. And what will the American people do? They will send the same do nothings back to congress and moan and complain and blame the other persons party. If there's anyone to blame for the woes of America, it's the American people.
2 people like this
@kenzie45230 (3560)
• United States
29 Sep 08
You're right. This congress has the worst approval rate. And, yes, the American voters (or rather those who do not vote) will be at fault for putting them all back into office - again and again and again.
@Destiny007 (5805)
• United States
1 Oct 08
This is what happens when the government interferes with business by putting too much regulation in it's way.
If the democrats would have left the economy alone instead of mandating these social engineering experiments, we would not be in this mess to begin with.
Yet, here the democrats are, blaming all of this mess on 8 years of Bush, and his economic policies.
Their claims could not be farther from the truth, and they are to blame for it.
@clrumfelt (5597)
• Tennessee Ridge, Tennessee
29 Sep 08
People shouldn't blame President Bush for letting the chickens out of the henhouse just because they have come home to roost during his administration. The economic crisis has been decades in the making and the few legislators who pushed for reform of this system along the way have been virtually ingnored. I have heard scores of people complaining and blaming their woes on President Bush. He has not been responsible. If there is anyone to blame during President Bush's term in office, it is the do-nothing Congress. They have had ample opportunity to remedy the economic problems before the banks started failing but chose to ingore what was happening.
1 person likes this
@clrumfelt (5597)
• Tennessee Ridge, Tennessee
29 Sep 08
Rodney, if anyone wants the specifics about what has caused the ecomomic meltdown they should watch this video. It is very educational.
http://www.youtube.com/watch?v=H5tZc8oH--o
1 person likes this
@sharra1 (6340)
• Australia
30 Sep 08
Get over it. The Republicans just voted to reject Bush's rescue package. Do not give me this crap. It is free market economics that is at fault. The bizarre belief that the free market will make everything perfect. This is total nonsense. It is a myth of economic rationalists that this will all work itself out. No. You cannot have a system of unlimited profit in a finite economic system. It is a myth.
We live in a finite economic system!!!!!!!!!!! We need to change the way we plan things or we are all in trouble.
@sharra1 (6340)
• Australia
1 Oct 08
No I think communism is just as bad as capitalism. There are other systems. Both are extremes. One there is no control and the other there is total control. Both are wrong. The only system that will benefit the people of this world is a change from individual greed to the welfare of the community as a whole and looking after the planet.
@wa2nlinux (179)
• Indonesia
30 Sep 08
I believe this is starting point where USA economic, supremation to world, military will decline. The USA with their capitalism will get what they have done. This will be new history of USA. They will not dominant anymore, this crisis will be continue ....
@xParanoiax (6987)
• United States
29 Sep 08
Actually, I never said it was all caused by him and his fault.
However, I'll maintain that he's contributed a bit. And no it's not easy for me to say.
Big government's not a good idea. Give government power that they didn't have before that could be solved in some other way, and sooner or later IT WILL be abused.
Republicans aren't even really supposed to be for big government, if you go back through their history.
But blah.
Whatever. I'm not so much concerned with the cause as returning the economic power to the people. Which is remedied by people starting their own businesses and being creative, instead of relying completely and utterly on big businesses, particularly global ones.
@kenzie45230 (3560)
• United States
29 Sep 08
You're absolutely right. These problems were begun under Carter and worsened under Clinton. Not only that, but our politicians (and the lobbyists behind them) are more to blame than any president.
I listened to Glenn Beck talk about these things on the radio, when we were without power for 100 hours after Ike came through Cincinnati. But as I listened, I realized that most people - even if presented with these facts - will choose to go on blaming Bush. It's a shame.
