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Considering the recession began in 2006 while the GOP was large and in charge an had been for the past 6.5 years, I find it interesting that there are still people out there who blame the current administration for the global meltdown.
A new Washington Post/ABC poll suggests that most Americans continue to blame the sluggish economy on former President George W. Bush, a development that could complicate Republican efforts to lay it at President Barack Obama's feet this fall.
Nearly six in ten (59 percent) of those polled said that Bush was to blame for the current state of the economy while 25 percent put the blame on Obama.
While those blaming Obama has risen from a July 2009 Post/ABC survey when 16 percent said the economy was his fault, the number of people blaming Bush is virtually unchanged -- 61 percent in July 2009 as compared to 59 percent now.
not so fast.....if its still a 'bush' ecomony....then you might as well blame clinton and NOW obama too
sorry to INFORM you but these problems stem from: 1993, 1995, and 1999 and you can thank the liberals for it, and most of it goes back to the clinton era. why because ECONOMICS run in 10(+/-4) year CYCLES and what we are facing NOW is in DIRECT RELATION to what happened back in the 90's
1993 NAFTA---- passed by the democrat controlled congress, pushed by clinton, signed by clinton---the consequence ...... 60+ million HIGH PAYING jobs have been lost, 2 trillion worth of debt from the lost wages.
1995 clinton (through his chief of HUD (Henry Cisneros and again by his 2nd chief of HUD, Andrew Coumo)) eased the rules on obtaining mortgages allowing more 'exotic' mortgages and 'no-dov' mortgages-----the consequence ......housing SKYROCKETED causing low inventories causing a 'not normal' increase in home prices, sellers got greedy, buyers got even greedier (looking to PROFIT in a skyrocketing market by flipping) and bought THINKING that prices would still increase and their ADJUSTABLE mortgage would pay it self off in MINIMUMAL years...EVEN THOUGH THESE INCREASES IN HOME VALUES WERE TOTALLY UNHEARD OF, AND MORTGAGE RATES WERE AT 40 YEAR LOWS( what did they think an adjustable mortgage gotten at 40 year lows would do in the term(3 months-3years) when it adjusted...of course it would go up, their CONTRACT even said after the term it would be 6% PLUS PRIME)))
For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership."
The above is the start of the mortgage meltdon: Clinton's National Homeownership Strategy...BusinessWeek - Business News, Stock Market & Financial Advice)
1996 clinton signed The Telecommunications Act of 1996 (The Act was claimed to foster competition. Instead, it allowed industry consolidation whose actions reduced the number of major media companies from around 30 in 1993 to 10 in 1996, and reducing the 10 in 1996 to 6 in 2005.)
1999 Clinton DEREGULATES the banking industry
2000 clinton signs the China trade bill
2000 clinton signs the Commodity Futures Modernization Act of 2000..(which paves the way for ENRON)
2001 Clinton pushes to get China as part of the World Bank
then you have bush's mistakes.....plenty of them.....and OBAMA is making it WORSE
Considering the recession began in 2006 while the GOP was large and in charge an had been for the past 6.5 years, I find it interesting that there are still people out there who blame the current administration for the global meltdown.
A new Washington Post/ABC poll suggests that most Americans continue to blame the sluggish economy on former President George W. Bush, a development that could complicate Republican efforts to lay it at President Barack Obama's feet this fall.
Nearly six in ten (59 percent) of those polled said that Bush was to blame for the current state of the economy while 25 percent put the blame on Obama.
While those blaming Obama has risen from a July 2009 Post/ABC survey when 16 percent said the economy was his fault, the number of people blaming Bush is virtually unchanged -- 61 percent in July 2009 as compared to 59 percent now.
I think that's a wrongful attribution. It's not a Bush economy because this far predates him as a lone character. This is a wildly over deregulated economy. I wouldn't say we need to heap 5 million regs to correct it, but to intelligently restore regulations that would restore accountability to capitalism. Not a lot to ask IMO.
I think that's a wrongful attribution. It's not a Bush economy because this far predates him as a lone character. This is a wildly over deregulated economy. I wouldn't say we need to heap 5 million regs to correct it, but to intelligently restore regulations that would restore accountability to capitalism. Not a lot to ask IMO.
It began with Gramm-Leach-Bliley, a huge mistake, which allowed banks to go into the investment business.
People want to put the blame squarely on the shoulders of the current administration, which is not accurate.
not so fast.....if its still a 'bush' ecomony....then you might as well blame clinton and NOW obama too
Sorry to inform you that this deregulation plan was hatched in a conservative think tank in the 70's and implemented by Reagan (and all conservatives since). Less was more if anyone was paying attention.
.....People want to put the blame squarely on the shoulders of the current administration, which is not accurate.
what people????
the fact is this has been going on for years... and just keeps getting worse with each admin
do you not think that Clinton (thru HUD Cisneros/coumo) easing the rules for mortgages didnt cause the housing bubble?????
do you not think that clinton/newt ballanced the budget???.... do you not think his CUTTING of the infrastructure (government...clinton was closer to a republican than bush was) caused problems like by cutting the DOT we had bridges falling down...by cutting the VA/army..we had walter reed not being able to handle the war vets...by cutting the dept of interor,,we have mine failures....
and its not just clinton
goes back nearly as century
FDR, Ike, LBJ, nixon( he took us off the gold standard), carter, reagan, bush1, clinton, bush2....and now obama
Sorry to inform you that this deregulation plan was hatched in a conservative think tank in the 70's and implemented by Reagan (and all conservatives since). Less was more if anyone was paying attention.
and so it the BIG problem
republicans tend to UNDER-regulate...which leads to theft
democrats tend to OVER_regulate....which leads to a stiffled economy
Considering the recession began in 2006 while the GOP was large and in charge an had been for the past 6.5 years, I find it interesting that there are still people out there who blame the current administration for the global meltdown.
A new Washington Post/ABC poll suggests that most Americans continue to blame the sluggish economy on former President George W. Bush, a development that could complicate Republican efforts to lay it at President Barack Obama's feet this fall.
Nearly six in ten (59 percent) of those polled said that Bush was to blame for the current state of the economy while 25 percent put the blame on Obama.
While those blaming Obama has risen from a July 2009 Post/ABC survey when 16 percent said the economy was his fault, the number of people blaming Bush is virtually unchanged -- 61 percent in July 2009 as compared to 59 percent now.
LOL I don't think that "most Americans" are that stupid! Give me a break.
Obama has had more than enough time to turn the economy around if he wanted to. The fact of the matter is that he doesn't. He has something else in mind ("fundamentally transform[ing] the United States of America").
He has done nothing but make things hundreds of times worse with his policies.
Sorry, but this is the Obama economy. The Bush economy was not bad, even at it's worst, toward the end. It was just sluggish. This is close to a depression, and Obama has created it.
Obama has had more than enough time to turn the economy around if he wanted to. The fact of the matter is that he doesn't. He has something else in mind ("fundamentally transform[ing] the United States of America").
Sooo, you're saying that the recession, which is the worst in a generation, should have just magically disappeared in 2009?
republicans tend to UNDER-regulate...which leads to theft
democrats tend to OVER_regulate....which leads to a stiffled economy
we never can seem to find the middle ground
Not when government regulators believe their well heeled patrons ought to be served first at the expense of the greater good. My government has no validity if it views itself as the puppet of commerce.
Perhaps commerce has come to appreciate that having cops is a good thing, and ultimately good for business because stability is what makes material commerce a basis to exist. It also prevents organized crime from being unfair competition for honest businessmen. The faux commerce we never needed. Puffery can be dealt a needle, not a cleaver.
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