There were two main factors for the Bush economic growth: housing speculation and home equity loans and two wars. The blowup of the first led to the recession and current slow growth and deficits. Nice work, Georgie.
And the rest of the economy sat around doing nothing much? Not the way I remember it. There was a post 2001 recession, then a good recovery.
The wars were not big enough to make much difference. You know, we do have to pay the army whether we use it or not.
The housing bubble was courtesy of the CRA, Barney Frank and other corruptocrats in the Congress, like Dodd and the newcomer who got the most money, Barack Obama, and the Fed which helpfully supplied the credit bubble. Bush tried unsucessfully to pull back on it in 2005. Don't you remember Barney Frank saying that there was nothing wrong with Fannie and Freddie, they were just fine, no reform was needed? I do. He said and kept saying it right up until the implosion.
Who should get the blame, the guys who caused the bubble or the guy who tried and failed to rein it in? The latter, if he has an (R) after his name, that's your idea. |
