Monday, February 15, 2010
Who's to blame?
There has been a vast majority of the American population that has blame former President George W. Bush for the current state of the economy. I have heard the same thing over and over again, "Bush is the reason the economy is so bad." It is somewhat unimaginable to think that one person could cause such short falling for an entire nation. We live in a nation that is based on a democracy of checks and balances. We don't vote for a single dictator. The American voters vote for several Senators and Representatives to help facilitate the nation. It has been a popular voting scheme of the Democrats to rally their voters around the mishaps of President Bush. It would be more feasible to rally their voters around the economic policies of the Bush administration. We must note that President Bush did not do the "job" all by himself. The Wall Street Journal has stated that the tactic of blaming President Bush for the economic hard times is becoming ineffective. The American people want action to fix the economy rather than repeated claims of why it is in the current state. Recently elected Senator Scott Brown has gone under heavy scrutiny for his "Bush-like" politics; however, American voters elected him despite of his views. In this upcoming election year, I feel that the American voters will not remember the mishaps of President Bush, but rather the policies of the administration that has put our economy in a dysfunctional state. I feel this article brings light to a prospective that might be representative of the current American ideal.
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In reality it is not George Bush's fault, if the mainstream media really wanted to find out who cause the economic crisis; they should look at no other then their fellow Democrat Bill Clinton. The whole economic meltdown began with the repeal of the Glass Stegal Act by Bill Clinton. This allowed for governement agencies such as Freddie Mae and Freddie Mac to give out loans unregulated. There has been regulation on these public sector groups but Clinton took them away, Which allowed these groups to give loans to people that were a risk and could not afford the amount they were loaned. On the loan the borrower only made enough money to pay the interest and not the principle. In reality thats what began the housing bubble and brought down the rest of the economy with it, which happened under Bush.
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