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George W Bush set a record for taking in more tax revenue than any other President.
I have heard this reported from the Tea Party's website.
Do you agree with this claim?
Here is the entire statement (which I don't think is an actual Bush quote): I certainly made plenty of mistakes in 8 years but I cut your taxes twice and never raised them and set a record for the most revenue ever taken in as President. I also kept you safe for 7 years after the worst attack on US soil in history when experts said it couldn't be done. I also loved America and never apologized for her greatness.
It is true, but not all that much to brag about. Other than Obama's first term, revenue during each four year presidential term has exceeded the previous for at least as far back as 1960. If FY13-16 revenue stays at FY12 levels or above, Obama's revenues of two terms will exceed Bush's.
It is true, but not all that much to brag about. Other than Obama's first term, revenue during each four year presidential term has exceeded the previous for at least as far back as 1960. If FY13-16 revenue stays at FY12 levels or above, Obama's revenues of two terms will exceed Bush's.
He set the record for blowing the surplus and leading the country into its worst crisis since the Great Depression and getting thousands of our soldiers killed in two wars.
George W Bush set a record for taking in more tax revenue than any other President.
I have heard this reported from the Tea Party's website.
Do you agree with this claim?
Here is the entire statement (which I don't think is an actual Bush quote): I certainly made plenty of mistakes in 8 years but I cut your taxes twice and never raised them and set a record for the most revenue ever taken in as President. I also kept you safe for 7 years after the worst attack on US soil in history when experts said it couldn't be done. I also loved America and never apologized for her greatness.
He set the record for blowing the surplus and leading the country into its worst crisis since the Great Depression and getting thousands of our soldiers killed in two wars.
Please provide links to the causal relationship between Bush and the housing bubble burst. Thanks.
Eight years after arriving in Washington vowing to spread the dream of home ownership, Bush is leaving office, as he himself said recently, "faced with the prospect of a global meltdown" with roots in the housing sector he so ardently championed.
There are plenty of culprits, like lenders who peddled easy credit, consumers who took on mortgages they could not afford and Wall Street chieftains who loaded up on mortgage-backed securities without regard to the risk.
But the story of how the United States got here is partly one of Bush's own making, according to a review of his tenure that included interviews with dozens of current and former administration officials.
From his earliest days in office, Bush paired his belief that Americans do best when they own their own homes with his conviction that markets do best when left alone. Bush pushed hard to expand home ownership, especially among minority groups, an initiative that dovetailed with both his ambition to expand Republican appeal and the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards.
Bush did foresee the danger posed by Fannie Mae and Freddie Mac, the government-sponsored mortgage finance giants. The president spent years pushing a recalcitrant Congress to toughen regulation of the companies, but was unwilling to compromise when his former Treasury secretary wanted to cut a deal. And the regulator Bush chose to oversee them - an old school buddy - pronounced the companies sound even as they headed toward insolvency.
As early as 2006, top advisers to Bush dismissed warnings from people inside and outside the White House that housing prices were inflated and that a foreclosure crisis was looming. And when the economy deteriorated, Bush and his team misdiagnosed the reasons and scope of the downturn. As recently as February, for example, Bush was still calling it a "rough patch."
The result was a series of piecemeal policy prescriptions that lagged behind the escalating crisis.
Last edited by JazzyTallGuy; 01-26-2013 at 02:05 PM..
But the Bush Admin doubled down on this even after seeing the warning signs. Last man takes the fall.
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