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gabeana

(3,166 posts)
Mon Apr 27, 2015, 11:24 PM Apr 2015

Did Bush screw up the economy or not?

Posted last night about Bush commenting on Obama, I basically said Bush was a failure, had civil discussion, seems like a long time Duer says Bush not to blame for economy
was it the system or was it Bush's policy that were directly responsible or combination of both?

34 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Did Bush screw up the economy or not? (Original Post) gabeana Apr 2015 OP
That should be "or what". pscot Apr 2015 #1
Bush really didn't hold the purse strings and only signs what yeoman6987 Apr 2015 #5
Is there a republican you won't defend? Kingofalldems Apr 2015 #31
Well all the laws that covered housing and banking yeoman6987 Apr 2015 #33
Bush's crew enabled and encouraged it. elleng Apr 2015 #2
Bill Clinton's horrendous decisions laid the groundwork DJ13 Apr 2015 #3
It was the damned Clinton budget surpluses pscot Apr 2015 #13
Uhuh, sure AgingAmerican Apr 2015 #24
Did a bear poop in the woods? 99th_Monkey Apr 2015 #4
Tax cuts for the rich, now made permanent, and war spending, oh yes he did! TheNutcracker Apr 2015 #6
^^This^^ Marie Marie Apr 2015 #8
Obama actually ended the Bush tax cuts for the highest earners, Nye Bevan Apr 2015 #9
Don't ruin perfectly good outrage with facts!!! JoePhilly Apr 2015 #27
The 2008 crash came during his last term. He had a little help from Bill Clinton who signed jwirr Apr 2015 #7
It should be well remembered that Clinton signed that against a Repub majority.... A HERETIC I AM Apr 2015 #14
I'd have made them own it and override the veto. jwirr Apr 2015 #15
And if you were Clinton at the time.... A HERETIC I AM Apr 2015 #17
And was he smart enough to realize that he would be blame years later? He passed NAFTA which jwirr Apr 2015 #20
I'm not arguing your larger points. A HERETIC I AM Apr 2015 #23
Okay. I also agree with you that there may be much more to the story. I watched the assassination jwirr Apr 2015 #25
Clinton shouldn't get off that easily AZ Progressive Apr 2015 #28
For that matter, no politician should. A HERETIC I AM Apr 2015 #29
Economy was great under Clinton. trumad Apr 2015 #10
Giving huge tax breaks reducing revenue at the onecaliberal Apr 2015 #11
Bushe's Onwership Society initiative led direclty to the House Bubble Agnosticsherbet Apr 2015 #12
GWB played a role in it bigwillq Apr 2015 #16
It was Bush.... Bigmack Apr 2015 #18
Bush crashed the economy in both terms. We forget the first down turn only because Johonny Apr 2015 #19
The groundwork for a US economic implosion far predates Bush TampaAnimusVortex Apr 2015 #21
Bush was a symptom, and did very little. Orsino Apr 2015 #22
It was war. It was the ramp up in security measures. Repeal of Glass Steagall, sometimes referred to merrily Apr 2015 #26
Yes, Bush screwed it up, massively, in multiple ways ,on multiple levels. geek tragedy Apr 2015 #30
Wall Street and those who refused to enforce the law One_Life_To_Give Apr 2015 #32
Reagan broke it. Bush tortured it. JaneyVee Apr 2015 #34
 

yeoman6987

(14,449 posts)
5. Bush really didn't hold the purse strings and only signs what
Mon Apr 27, 2015, 11:31 PM
Apr 2015

is put in front of him from Congress. Perhaps more VETOs from him may have helped. He was unable to communicate very well which was a huge problem. If we go with he was responsible overall regardless then he is to blame. Not easy being the final say.

 

yeoman6987

(14,449 posts)
33. Well all the laws that covered housing and banking
Tue Apr 28, 2015, 01:16 PM
Apr 2015

That would have been a start. Oh funny how you miss me sticking up for Hillary....how convenient.

pscot

(21,024 posts)
13. It was the damned Clinton budget surpluses
Tue Apr 28, 2015, 11:05 AM
Apr 2015

Bush had no choice but to make huge tax cuts for 1 percenters.

Marie Marie

(9,999 posts)
8. ^^This^^
Mon Apr 27, 2015, 11:38 PM
Apr 2015

Paying for 2 wars "off the books" sent our deficit soaring. Tax cuts for the rich plus allowing Wall Street to run amok with subprime mortgages and turning a blind eye to any type of oversight on the banks and Wall Street (then bailing them out when it all came tumbling down) sent our economy spiraling downward. JMHO....

Nye Bevan

(25,406 posts)
9. Obama actually ended the Bush tax cuts for the highest earners,
Mon Apr 27, 2015, 11:38 PM
Apr 2015

and also slapped an additional tax on the investment income of the wealthiest to help pay for Obamacare.

jwirr

(39,215 posts)
7. The 2008 crash came during his last term. He had a little help from Bill Clinton who signed
Mon Apr 27, 2015, 11:34 PM
Apr 2015

the repeal of Glass-Steagell.

A HERETIC I AM

(24,370 posts)
14. It should be well remembered that Clinton signed that against a Repub majority....
Tue Apr 28, 2015, 11:07 AM
Apr 2015

who promised an override of a veto.

Had he vetoed it, it would not have stood.

A HERETIC I AM

(24,370 posts)
17. And if you were Clinton at the time....
Tue Apr 28, 2015, 11:20 AM
Apr 2015

your veto would have been overridden.

Clinton was/is no dummy. He knew what would happen.

jwirr

(39,215 posts)
20. And was he smart enough to realize that he would be blame years later? He passed NAFTA which
Tue Apr 28, 2015, 11:29 AM
Apr 2015

had been written by GHW Bush. Then he does not fight back on this which ended up letting a lot of innocent people lose their savings.

We are now furious at President Obama for doing exactly this with the TPP. Why not look at the entire history of this whole sellout to the corporations?

It is not that he would have been overridden. It is did he fight the effort to take the savings of a lot of people and give it to the gamblers?

Enough of this playing along with the Rs. They are not working to help the average person.

A HERETIC I AM

(24,370 posts)
23. I'm not arguing your larger points.
Tue Apr 28, 2015, 11:45 AM
Apr 2015

I agree the repeal was a bad idea, but I am convinced of one thing;

I am convinced it is made VERY clear to the president elect that there are certain things he can do and certain things he can't. One of the things he can't do is dramatically change the way this country operates or change the way things are in a truly significant way.

The last two presidents who did so (or attempted to do so) were shot in VERY public ways.

Now, you can call that opinion anything you want, but I still feel the message to any president is clear: Do as we wish or you're a dead man.

Money and profit trump everything in this country. Everything. It trumps the public good in spades. If it hurts profits, it's a bad thing. That is what we have been fed forever and that's the way it is. Want to change it? Well, you can't, as long as the politicians get to pick the voters instead of the other way around, nothing will change.

Clinton did the best job he could under the circumstances, just as Obama is doing. Bush however, was/is an idiot, just as Reagan was and did exactly as he was told.

jwirr

(39,215 posts)
25. Okay. I also agree with you that there may be much more to the story. I watched the assassination
Tue Apr 28, 2015, 11:54 AM
Apr 2015

of JFK and I also fear that.

One proof of what you say is the crazies that Rs run for president. The PTB do not care because they know that even if elected none of them is actually going to call the shots. This has been clear in the Rs party but not so clear with Democratic presidents. I have thought of it as one reason President Obama would back the TPP. But because Bill Clinton was so popular I did not think in those terms about what he was doing.

AZ Progressive

(3,411 posts)
28. Clinton shouldn't get off that easily
Tue Apr 28, 2015, 12:10 PM
Apr 2015

Clinton with Robert Rubin


Clinton with Larry Summers



Robert Rubin was a senior partner, VP, and chairman in Goldman Sachs, and Larry Summers was his protege. Both ended up being the Secretary of the Treasury during the Clinton Administration. Both of them worked with Congress to get Glass Steagall repealed.

A HERETIC I AM

(24,370 posts)
29. For that matter, no politician should.
Tue Apr 28, 2015, 01:08 PM
Apr 2015

But it has been said many times over the years, that one of the jobs the president has is reaching a compromise or consensus.

You just can't please everybody.

Again, I am convinced that this falls under the realms of "There are some things you can do and some that you can't"

None of us are privy to the private conversations that go on.

I suppose I am excusing what is barely excusable, but I try and be pragmatic.

onecaliberal

(32,863 posts)
11. Giving huge tax breaks reducing revenue at the
Mon Apr 27, 2015, 11:51 PM
Apr 2015

Same time he waged war in two countries. Unprecedented. Yes it IS the fault of bush economic policy.

Agnosticsherbet

(11,619 posts)
12. Bushe's Onwership Society initiative led direclty to the House Bubble
Tue Apr 28, 2015, 12:34 AM
Apr 2015

The bursting of the Housing Bubble led to the great recession.

Johonny

(20,851 posts)
19. Bush crashed the economy in both terms. We forget the first down turn only because
Tue Apr 28, 2015, 11:28 AM
Apr 2015

the second was so much worse. You know who did the same thing... Reagan. Yes, GOP economics suck. He left the country with a banking crisis, an energy crisis, a debt crisis, a hopelessly low tax situation, an endless war debt, a second endless war debt... and no plan how to deal with them. Yes, the system isn't great, but Bush's response to every problem was classic neocon GOP policies which only set the country up to spiral further into the rabbit hole. Hence Bush is to blame. Bad things happen to every president, but not every president responses with bad policies. When the tax cut didn't work, he didn't do a thing to change it. When Enron was shown to basically loot California, he did nothing in energy reform. When Iraq spiraled out of control he simply let it with no plan on how to get out. He sucked. The worst president possible.

TampaAnimusVortex

(785 posts)
21. The groundwork for a US economic implosion far predates Bush
Tue Apr 28, 2015, 11:30 AM
Apr 2015

It seems about every president for the last 100 years didn't mind giving it a bit of a nudge towards the cliff in one way or another.

merrily

(45,251 posts)
26. It was war. It was the ramp up in security measures. Repeal of Glass Steagall, sometimes referred to
Tue Apr 28, 2015, 11:58 AM
Apr 2015

as Gramm, Leach, Bliley, or "deregulation" of banks under Bubba had a very sizeable role in the ability to deal in mortgage derivatives, which also led to a housing bubble. It was a lot.

 

geek tragedy

(68,868 posts)
30. Yes, Bush screwed it up, massively, in multiple ways ,on multiple levels.
Tue Apr 28, 2015, 01:10 PM
Apr 2015

The proof is in the pudding.

One_Life_To_Give

(6,036 posts)
32. Wall Street and those who refused to enforce the law
Tue Apr 28, 2015, 01:15 PM
Apr 2015

There is no shortage of people who bear responsibility for the Mortgage Crisis/Crash. That would include the then current administration it's predecessor administration. But much more so the DOJ, SEC and FED for their failures and omissions. However principal primary responsibility has to lie with the corrupt people on Wall Street and the Banks who ruined the lives of hundreds of millions to make a couple quick bucks.

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