Had ZERO to do with the Democrats in office. Had everything to do with the natural business cycle. The speculation-induced housing bubble ran its course in good time, leaving a nice hang-over in its wake. I hate the LibDems myself, but they had NOTHING to do with this economic downturn. We had a great economic expansion caused by consumers going in debt up to their receding hairlines and the party had to end some time. Now the same woefully indebted party-ers are getting the bill, with interest.
I know that - what do we have to put a /SARC in everything.
However it is also not just business cycle there are a lot of issues, the republicans interfering between two private contracts in a credit card agreement doubling minimum payments. They had no business being there, states spending and across the country talk of raising taxes.
Yea, it goes both ways.