Blaming Bush for recessions
A letter writer today claims that Republican presidents have been responsible for most U.S. recessions in the last 50 years.
He tags George W. Bush for the 2001 recession as well as the possible recession we're heading into now.
I'm no economist, but I can read that the U.S. economy did fall into recession during the first three quarters of 2001. I also know that Bush took office as president on Jan. 20, 2001. What I'm wondering is what policies he enacted upon taking office that caused that recession to commence immediately, or even sooner. Or would it be more reasonable to suppose that the causes of the recession that began in the first quarter of 2001 were laid in 2000 or earlier, before Bush became president?
Frankly, I'm not sure how much presidents deserve credit or blame for economic ups and downs. But it seems an attempt to lay blame for the 2001 downturn at Bush's feet is misdirected. It would be more logical to give him credit for pulling the country out of recession, because that happened after he'd been in office long enough to actually do something.
Now, those who want to blame him for the current skids, go right ahead. There aren't many other possible culprits around -- not in Washington, anyway.
Comments (4)
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Well, to me, when anyone who makes claims that they can make a difference, and is the steward of our country. Then, that person, took the responsibility of what was previous, what is present, and what will be in the future.
But then again. All blame does not lay with just this particular steward. There are 535 people are who are just as responsible for any reasons why we are in a recession.
Not to mention all the other government entities that place economic incentives and development into one pot, instead of investing in resources that can be much more productive for it's citizens.
Corporate America! Corporate America! They are the unblameable culprits that put us into such a state of economic chaos.
But, we live each day, and be blessed for what we have to survive with.
Posted on January 28, 2008 9:34 AM
Well, to me, when anyone who makes claims that they can make a difference, and is the steward of our country. Then, that person, took the responsibility of what was previous, what is present, and what will be in the future.
But then again. All blame does not lay with just this particular steward. There are 535 people are who are just as responsible for any reasons why we are in a recession.
Not to mention all the other government entities that place economic incentives and development into one pot, instead of investing in resources that can be much more productive for it's citizens.
Corporate America! Corporate America! They are the unblameable culprits that put us into such a state of economic chaos.
But, we live each day, and be blessed for what we have to survive with.
Posted on January 28, 2008 9:34 AM
Well, to me, when anyone who makes claims that they can make a difference, and is the steward of our country. Then, that person, took the responsibility of what was previous, what is present, and what will be in the future.
But then again. All blame does not lay with just this particular steward. There are 535 people who are just as responsible for any reasons why we are in a recession.
Not to mention all the other government entities that place economic incentives and development into one pot, instead of investing in resources that can be much more productive for it's citizens.
Corporate America! Corporate America! They are the unblameable culprits that put us into such a state of economic chaos.
But, we live each day, and be blessed for what we have to survive with.
Posted on January 28, 2008 9:35 AM
There aren't many other possible culprits around -- not in Washington, anyway.* Doug
Sure there is a big culprit Doug! They have been doing since 1913, It's call the Federal Reserve System...It's neither Federal nor a Reserve for the America people...See how easy it is to let the Presidents off the hook for depressions and hoards of funny paper money?
Posted on January 28, 2008 12:39 PM