lmfao ok what did bush to do cause the collapse?
andre, you can chime in too. What did bush do to cause the collapse?
Dude, once a president is 6 years into office, the state of the economy is THEIR credit, or their blame.
They have veto power (which he never chose to use on any spending in his presidency, rubber stamping them all)
Here are 5 pretty good reasons we can credit/blame bush for the collapse - Imagine the better shape 2008 would have been if Bush would have helped homeowners AND NOT THE BANKS. Imagine if he regulated that bullshit house of cards that lehman and others were giving the financial world. imagine if he had made the 2 wars smaller - OR ACCEPTED HELP FROM OTHER COUNTRIES (he wouldn't relinquish control). See, the "saving banks, letting homeowners sink in an unregulated banking industry" alone should be enough for your to agree.
1. Deregulated Wall Street: It was a great time to be a Wall Street executive during the Bush administration. Sweeping financial deregulation helped build the housing bubble and allowed financial institutions to pursue risky trades unchecked. In fact, Bush eliminated the rules that allowed Wall Street to cause the financial crash that plunged the nation into the Great Recession.
2. Cut Taxes For The Wealthy: The Bush tax cuts — over 50 percent of which benefited the richest 5 percent of American taxpayers — cost about $2.5 trillion over the decade after they were enacted. Ten years later, Bush’s tax cuts are still the main driving factor of the national debt:
3. Ran Up A Tab On Two Wars: The wars in Iraq and Afghanistan have cost the country trillions of dollars. Combined with Bush’s tax cuts, war spending was a main factor in blowing up the deficit and spending the surplus accumulated under Clinton. Lawmakers now use the deficit as an excuse for inaction.
4. Left Homeowners In A Lurch: While Bush was happy to help out the banks in the wake of the housing crisis, he did little to assist struggling homeowners. Hope For Homeowners, Bush’s proposal to assist those struggling with their mortgages, was a colossal failure; in its first six months, it helped just one homeowner renegotiate his mortgage. Many mortgage holders — 15.7 million or, one in three — are still underwater today.
5. Weakened Workers: Bush weakened worker safety regulations and collective bargaining rights under the Occupational Safety and Health Administration (OSHA) and the Department of Labor throughout his time in office. Today, corporations are back to making record profits, while workers’ incomes are falling.
