5 Reasons Americans Are Right To Blame Bush For The Economy

[cal04]

Sixty-eight percent of Americans — including 49 percent of Republicans — say President George W. Bush is responsible for the state of today’s economy, a new Gallup poll finds.

Indeed, the country is still reeling from Bush’s disastrous economic stewardship. His irresponsible tax cuts and deregulatory policies have contributed significantly to the slow recovery and are partly responsible for the nation’s economic plight. Here are 5 reasons why:

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:

(snip)
3. Ran Up A Tab On Two Wars
4. Left Homeowners In A Lurch
5. Weakened Workers

http://thinkprogress.org/economy/2012/06/14/499523/5-reasons-americans-are-right-to-blame-bush-for-the-bad-economy/

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[hughee99]

1. Apparently I don't remember 1999 as well as I thought I did.

I recall Glass-Steagall was repealed, but I didn't remember * being president.

[Laelth]

2. I think Ronald Reagan is more to blame, personally.

Bill Clinton deserves a lot of the blame too, but there's plenty to go around. Shrub certainly contributed mightily to the national debt with his two, unfunded wars and with his massive increases in government spending.

-Laelth