The big mess is that Bush was listening to Rove.
It's no coincidence that this country's economy began to see the first signs of some serious turbulence back in the mid-2000s when the Federal government stopped reporting one of the key indicators of our nation's money supply (M3).
The reason that cellphones and computers don’t cost $10,000 isn’t that Motorola and Apple love us: It’s that consumers spending their own money are cost-conscious, so everybody has to compete on both price and quality. The only important products in the United States that do not get better and cheaper every year are K–12 education and health care, which are about 97 percent and 55 percent dominated by the government, respectively, and therefore have little consumer-price pressure.
Mark Levin articulated this fact on his radio show last week -- it's a damned shame that there are no prominent GOP elected officials making the same point everytime the 'Rats demagogue about 'tax cuts for the rich' being a 'cost'.
HW Bush. “Read my lips, no new taxes”
GW Bush. “Compassionate Conservative”, i.e., ‘I can do big gov socialism better!’
LBJ’s Great Society got us into this mess.
A majority of Democrats (incuding Obama as Senator)in a majority Dem Congress voted for the intial bank bailouts (TARP).
A minority of Republicans voted for TARP.
A majority of Democrats (incuding Obama as Senator)in a majority Dem Congress voted for the intial bank bailouts (TARP).
A minority of Republicans voted for TARP.
I stopped reading here. Because of the Laffer curve, I would argue that the tax cuts put more money into the Treasury rather than taking from it.
Obama is well aware of the Laffer curve, but prefers to hurt the country so that he can really stick it to those who provide jobs.
Your average poorly informed righty (the willfully blind-types like the author of this article) will reliably tell you that our current fiscal straits are the result of "anyone and everyone but Bush".
It's funny how these willfully-blind neo-cons always ignore Bush's actions upon taking office in 2000 and their effects on the US economy.
They never mention the Partnership for Prosperity, signed on September 6, 2001.
Nor do they mention the provision in the USA PATRIOT Act of 2001 that allowed banks to accept the Mexican Matricula Consular card as valid ID to open US bank accounts, while allowed Mexican illegal aliens to obtain US credit cards, auto, home and business loans.
Prior to Bush, this was illegal by law in the US.
They never mention the New Alliance Task Force, formed in 2003.
The NATF is a broad-based coalition of 62 members, including the FDIC, Mexican Consulate, 34 banks, community-based organizations, federal bank regulatory agencies, government agencies, and representatives from the secondary market and private mortgage insurance (PMI) companies.
Their goal was to open the Mexican illegal alien market to US banks and visa-versa using low-cost remittances as the bait. As Bush's 2002 speeches show he was talking about hundreds of billions of U.S. tax dollars going to directly benefit millions of Mexican illegal aliens.
The NATF was organized into four working groups that were tasked with the following goals:
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They never mention the American Dream Downpayment Act which gives Mexican illegal aliens US taxpayer dollars for them to use as the down-payment for the houses Bush's Wall Street banker buddies were financing through sub-prime loans.
They never mention Bush hobbling border and interior immigration enforcement.
Worksite arrests of illegal aliens fell some 97 percent, from 2,859 in 1999 to 159 in 2004. Investigations targeting employers of illegal immigrants fell more than 70 percent, from 7,637 in 1997 to 2,194 in 2003. Arrests on job sites fell—precipitously, from 17,554 in 1997 to 445 in 2003. Fines levied for immigration-law violations fell from 778 in 1997 to 124 in 2003. Notices of intent to fine employers fell from 865 in 1997 to just 3 in 2004.
Nor do they mention Bush signing the Social Security Totalization Agreement with Mexico in 2004, which would have allowed Mexican illegal aliens to collect US Social Security benefits for the time they worked illegally in the US. Not only for themselves, but also for their families back home in Mexico, even if they had never stepped foot in America.
Of course, given Bush's record, if I were a Bush lick-spittle, I too, would do everything in my power to blame "anyone and everyone but Bush".
and it still won’t change there minds...