Poll: George W. Bush still blamed for economy (Corporate Profit, wage, Obama)

[DANNYY]

Originally Posted by wade52

Let me provide some of you less informed readers with a simple, effective, and fair meterstick for determining the success or failure of a president's term in office. Three easy steps:

1. America's condition at the beginning of said president's term

2. America's condition at the end of said president's term

3. Compare

Any other method devolves into apologetics or unfair criticism. This just lays it out. This is what ultimately matters and is all that counts. By this measure...

Reagan: good
Bush 1: not so good
Clinton: OK
Bush 2: horrible

If you think you have a better system, post it.

We forget about the president that started to export our jobs. That was Clinton, he started what we call today as an economic turmoil in his last years of office.

[Donna-501]

Originally Posted by padcrasher

Why shouldnt that be the case?

Most reasonable people know you cannot turn a reccession around in 1 year.

Reasonable seems to get lost with many.

[Donna-501]

Originally Posted by wade52

The upside will be that Obama will be able to ride the wave of good will from the recovering economy. And indications are starting to point towards the early stages of recovery even now.

It remains to be seen what the foaming-at-the-mouth knuckledraggers who have exposed themselves as hateful racists will do when that day comes.

I'll continue to point and laugh, though.

The teabaggers won't notice unless Beck or Rush tells them and there isn't much chance of that.

[bentlebee]

Originally Posted by carterstamp

Giving credit where it is due.

Poll: George W. Bush still blamed for economy

http://www.politico.com/news/stories...#ixzz0kR7W3DMM

President George W. Bush gets more blame for the country’s economic troubles than his successor or the Democrats who control Congress, according to a Harris poll out Wednesday.

hahaha, April fools day is over. George who, Ohhh George W. bush the man we really miss and who always kept the decency not to do what Obama is doing and that is back stabbing...Obama and friends are so dumb to play the "Bush blame card"...it is now backfiring to Obama

[ilovemycomputer90]

Originally Posted by Bosco55David

Exactly. There are many pieces of evidence that say this, including things he directly caused (tax cuts, Iraq) and things that happened under his watch.

I'd like to see this evidence.

While Bush is partly to blame, much of the blame can be spread around, i.e. Bill Clinton, Barney Frank, Chris Dodd, Federal Reserve, the Republican congress, the current Democratic congress, and any consumer who thought they could get something for nothing!

Many, many, many people are to blame, but to put it squarely on Bush is unfair.

[DANNYY]

Originally Posted by ilovemycomputer90

I'd like to see this evidence.

While Bush is partly to blame, much of the blame can be spread around, i.e. Bill Clinton, Barney Frank, Chris Dodd, Federal Reserve, the Republican congress, the current Democratic congress, and any consumer who thought they could get something for nothing!

Many, many, many people are to blame, but to put it squarely on Bush is unfair.

Finally someone that agrees with what I've been trying to say!

[saganista]

Originally Posted by BentBow

Barney Frank sure gets a pass! Shout "it's Bush's fault" enough and Barney will get free ride...Oh ya, he already has.

Well, let's see...Bush was President of the United States and in charge of everything, while Barney Frank was the senior minority member of the House Financial Services Committee and in charge of nothing.

Could you be a little more transparent in your futile blame-evasion schemes...

[saganista]

Originally Posted by Quick Enough

And for the first 6 years we had one of the greatest ecconimic expansions in American history. Check the unemployment rates. Check the amount of money the government took in, etc.

No, we promptly had a recession starting two months after Bush was inaugurated, and his wonderful first round of tax cuts for the rich caused demand-sapping redistributions of income that produced a recovery only in corporate profits while the real median household incomes of the non-rich began what would become a six-year decline. The (predicted) failure of these tax cuts to generate any meaningful economic activity at all led the Fed to leave interest rates that had been slashed to near-zero levels to boost confidence after 9/11 at such low levls for the next two years, thus lighting a fire under long-term asset prices (such as houses) and opening wide the door to the colossal abuse and financial tragedy that followed.

Unemployment during the Bush administration meanwhile reached its low point on January 20, 2001. It was never lower than it was on the day he was first inaugurated. By mid-2003, unemployment had reached its highest point in more than nine years.

Originally Posted by Quick Enough

When the democrats took over we went downhill with the housing house of cards falling. The left want to blame Bush buyt ignore the role the congress plays.

The housing market cracked in the Spring of 2006. It was all a case of falling dominos after that...dominos that the Bushies ended up doing almost literally nothing about. They basically stood around and watched it all happen, hoping that the end game would play out after their watch was over. No such luck on that score, I'm afraid.

Originally Posted by Quick Enough

Look up Freddie Mac and Fannie Mae. Bush tried to get the democrat controlled congress to act but Barbey Frank and Dodd refused. In fact look at the quotes they made prior to the fall.

LOL. You're funny. Bush tried to get Republican-controlled Congresses to enact GSE reforms that would cut their lucrative share of secondary mortgage markets, thereby freeing up those markets for their friends on Wall Street -- i.e., the very people who directly caused the credit crunch and subsequent financial meltdown. There were no Bush proposals at all that dealt with safety and soundness issues. They all dealt with capping or restraining or otherwise cutting off the GSE's for Wall Street's ultimate benefit. Indeed, the Senate had independently voted a much-needed GSE reform bill out of committee in 2003, and the Hosue was well on its way to producing a companion bill when the White House scuttled the initiative because it did nothing to make the GSE's smaller.

Once the Democrats took control of Congress in January 2007, we of course saw the dawn of the "filibuster everything" strategy by obstructionist Senate Republicans. Even so, a GSE safety and soundness-related reform package was produced and passed and went into effect in July 2008. Of course, it was too late to have had much meaning by then. The bottom line still is that Republicans had control of Congress for 12 years and never managed to produce any sort of GSE reform. Put the Democrats in charge for 18 months, and bingo.

[saganista]

Originally Posted by BentBow

You do realize Barney Frank is the Legislator that has been in control of the nations financing and housing programs. Has been a long time now.

As wrong as usual, BB. Barney Frank did not become Chairman of the House Financial Services Committee until January 2007. In that position, he wields considerable influence in the areas of banking and housing, but he hardly has control, particularly when up against a permanently obstructionist Senate and the looming prospect of a Presidential veto. The last at least disappeared in January 2009, but we're still stuck with 41 too many OSR's (Obstructionist Senate Republicans).

Originally Posted by BentBow

Funny how it was those two and them tied together, that caused the crash.

The crash was caused by bad mortgage paper created and sold into secondary mortgage markets by cowboy capitalists on Wall Street at volumes that finally exceeded the system's ability to absorb it. Then, with the problems still confined to the financial industry, the Bushies were unwilling and unable to find a means to resolve it there, leaving the problems to leak out into the broader economy, finally culminating in the collapse of real estate and equity markets, and plunging the world into its worst financial disaster since the Great Depression. Nice job, Georgie-Boy...

[floridasandy]

i hope people take the time to understand what the underlying problem has been by watching this short video,
The Market Ticker

broken down pretty nicely. one of the worst things that obama is trying to do is to give the federal reserve (banking cartel) yet MORE power. that would be a big mistake.