WHO CAUSED THE CRISIS? – READ THIS; WATCH THE short CLIPS
– IT IS BEYOND CLEAR
For the entire Bush presidency, the economy was in amazingly good shape with unemployment around just 5%, inflation under 3% and housing interest rates about 5%.
I say remarkable because the Clinton years delivered to Bush the .com crash the year before (1999) and notably a very lethal enemy who masterminded the 2001 attack within the 1st few months of his presidency.
Nevertheless, the Bush policies (similar the Kennedy and Regan) saw incredible success despite those starting block economic handicaps, the attack on 9-11 and a nation on a war footing in response.
So what happened? Who was at fault? I’ll say it plainly.
o The democrats caused it !
o The republicans warned about it but failed miserably in resolving it
The republicans failed for lack of backbone and political skill.
What? How can you say the Democrats caused it? Wasn’t it on Bush’s watch?
Barely. Recall that the Republicans never had a super majority like the
Democrats currently enjoy and kindly recall that the last two years saw
Pelosi and her Democrats in complete charge of the congress and hence the economy.
Look at the history of urban development and it’s enablers bundling bad loans, Freddy Mac and Fanny Mae which were created by the Democrats to foster another dependent voting bloc amongst the poor and protected in court by one Barak Obama and also in congress from any attempt at regulation by the Republicans by Barney Frank and almost 100% of Democrats (Obama absent again)
Don’t buy the baloney the Dems inherited the recession. They caused it all right, but like a caught spoiled child quickly (and I might say effectively) shifted blame elsewhere to Bush. Listen to this report from Brit Hume:
You have to watch the short CSPAN clips here of the Democrats forcefully defending their vote getting cash-cow Freddy & Fanny and Republicans raising the calls or corruption and need for regulation – The vociferously responding Democrats is striking! Even ex-President Clinton agreed with this assessment. Watch this!
Backbone was the problem with Republicans. Some had become democrat ‘lite’ and when the Democrats began to cry “we got to do something” instead of sticking to their guns and delivering the proper medicine, Bush and some key fellow republicans like McCain (worried about their image in upcoming election) capitulated to the siren song of bailout.
That is why the Tea Party moment has been as much against Democrats, who caused the problem, as they are against Republicrats who acquiesced to the Democrats and flat out failed us.
The Republican platform is sound. Let’s shore it up now with candidates with backbone to fight the socialist effectively and implement the time proven conservative policies.