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Absolutely, and I can come back and provide some links to back up what I say if you want. When he was running for re-election in 2004, he introduced measures to make credit rating agencies, financial institutions and other lenders throw the rule book out of the window and offer 125% loans to people with bad credit ratings, so he could lay claim to creating an "ownership society". He introduced tax reforms which were too far-reaching, which caused the deficit to rise. He encouraged people who had high personal debt to continue to spend their way out of a temporary economic blip, causing them to get into even more personal debt. He did not put the brakes on imports, causing the trade deficit to spiral out of control. He took us into an unnecessary and expensive war which looked good on paper since defence spending represents such a relatively high percentage of national GDP, but it contributed hundreds of billions of dollars to the national debt. He caused consternation in the Treasury by effectively ordering the Fed to keep interest rates at an unsustainable level for too long, which helped him to get re-elected but at the same time drove up inflation while driving down the value of the US dollar. As a result of Bush's economic decisions, we are faced with the worst of all worlds. If the Fed lowers interest rates we are screwed because that will cause inflation and a further slump in the dollar. If the Fed raises interest rates to counter inflation and help the dollar, then we will end up in a very deep recession. We can't spend our way out of recession because Bush's policies have resulted in the highest levels of public and personal debt in history. If we pull out of Iraq, headline growth figures will slump. The banks won't lend money to people who have good credit, because they were burned by people with bad credit. And the people they do choose to loan money to will pay much more in interest than they did in the past. Did you realize that no matter how good your credit rating is, if you are turned down for a loan for any reason it is a black mark on your credit rating? What an abominal mess he has got us in.
I not only feel that MR. BUSH HAS PLAYED A BIG PART indiana OUR CURRENT RECESSION, he is the entire reason for it; and until he is replaced no one in their right mind, or without an ulterior motive, would invest in the U.S.A.!! It is not because of immigration, free trade, or some corporate outsourcing that we have nothing left for our society; it is the trillions$$ of our very hard earned tax money that he has taken from us and given away to IRAQ for, their roads, their bridges, and their businesses, that is the reason our homeland is crumbling! The truth hurts; and, anyone who voted for him, or did not vote against him, has no other person in this universe to blame for their current economic circumstances but themselves....
First off the unemployment rate is still only 5%, and that is extraordinarily low. You might be young, I'm in my 40's and I can remember when we rejoiced over 7%. I've seen it as high as 11% in my lifetime. Free trade in theory will create jobs in the long run, because our products will be sold in more markets. The only issue I think you and I agree on is free trade should be done fairly.And it seems to me that hasn't always been the case, especially with our dealings with mexico. But let's get to the reason companies leave. We have the second highest corporate tax rate on the planet. Second to Japan. If I'm going to build a factory, why would I put it in a place that's going to tax me 30% when I can put it 700 miles south and pay 10%? If we want more manufacturing jobs, we have to make America more attractive of a place to build a plant in. It's that simple.
They all have but they increased there cost of living>And work less> Time to replace them with 1s that will enforce our laws> Remove illegals so we have there jobs we had before they invaded the USA>Reduce the trade travesty & bring companys back>
Bush financial package is as big of a disaster as all of his other policies . With soaring gas prices and the very gas company's he gave tax cuts . Gas prices are creating the recession .. And GW does have the ability to deal with this . He wont . For the first time he ask OPEC nicely to increase production . If he took a harder stand like past presidents did . This would help .
Unemployment is low so its not that people don't have a job. people borrowed against their house to buy more toys they could not afford. they got sucked into loans they were not going to be able to keep up with and now they are paying the price. picking cabbage would not save them. illegal immigrants would not be able to get a job here if you demanded that everyone who does work for you had a green card. the government can not fix the economy they can only reduce the size of government so it does not hurt the economy.
LMFAO... NO I DO NOT what in gods name does immigration have to do with anything. most immigrants take jobs americans wont do outsourcing returns common sense to the economy so that union thugs cant demand wages beyond the value of services preformed. CLINTON, no bush authored nafta and gatt for your trade....issue and no actions have backfired, conservatives have defeated massive liberal pork spending
Bush is a narcissistic warmonger who is a marionette for special interest(the same his father had, and his father had), he only plays dumb to downplay the intentions that he has.......... and as you can see by his actions, isn't very patriotic at all! actions speak louder than mispronounced words!!! I think it's insulting that he's trying now, to throw us a bone with his proposed tax refund...... he never should have had the money in the first place! lillian- so you don't think the federal reserve( a private institution who sets interest rates on thier own whim, and prints money out of thin air) has anything to do with this economic crisis? keep living from bursting bubble to bursting bubble then!
Hi, Hen the way you put it asdose your president is the biggest sabotager in USA,keep talking man,freedom of speech is also freedom after speech ?.bye
This is about the credit crunch. The last time I looked, the president didn't tell people who could and could not have credit. It's about lenders who took a risk on shaky credit scores and have lost. It's about stupid people who don't take responsibility for their own finances. So no, I do not blame this president at all.