(September 8, 2012 at 7:08 pm)Polaris Wrote: The legacy from the Clinton Presidency was economic collapse (well that's what I see we are in now). It's because of the deregulation started under his term that we had the 2006 subprime mortgage crisis that brought down the banking industry and lead to a domino effect....Bush is guilty of wasting hundreds of billions on the War in Iraq and his tax cuts (that did not really do anything one way or the other under his term....they should have ended under his term), money which could have been used as a buffer, but that would have only served to delay the inevitable.
Yes, the subprime mortgages were what caused this recession, but if you look through American economic history, we always have some crisis every 20-30 years that causes a recession. So if it hadn't been this, something else would have happened. The problem for me isn't so much that we had the crash in the first place as much as how Bush responded to it: give the banks millions in bailouts with no strings attached and do squat to help all the people made homeless because of predatory banking practices.
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"If you cling to something as the absolute truth and you are caught in it, when the truth comes in person to knock on your door you will refuse to let it in." ~ Siddhartha Gautama
"If you cling to something as the absolute truth and you are caught in it, when the truth comes in person to knock on your door you will refuse to let it in." ~ Siddhartha Gautama