Why do you keep bringing up Bush? We all know what happened. It has been
gone over and over until the subject has been beaten to death. Obama had
four years to get the economy moving again and he didn't do it. It should
have taken less than a year if he had let the small business man do what he
does best; i.e. make jobs. Instead Obama spent all of his energy getting the
stupid Health Care Bill passed.
We have had many bubbles over the years. The housing one is nothing new and
we always recovered quickly when the government stepped aside. Bubbles are
the consequence of the government messing around in the economy. Do I need
to explain that to you?
Nick Geti
----- Original Message -----
From: "lelandj" <[email protected]>
To: "ProFox Email List" <[email protected]>
Sent: Thursday, November 01, 2012 11:06 AM
Subject: Re: [OT] 8 years Bush $4 trillion, 4 years Obama $5 trillion
A lot of the Obama Deficit was due to a couple of Bush era events:
1) The tax policies enacted during the Bush years to lower taxes,
especially on the wealthiest 2% of Americans, who really didn't need the
gift: The tax cuts to the wealthiest 2% of Americans did little, if
anything, to stimulate the economy; because, the increased demand for good
and services in this group was much smaller proportionally, dollar for
dollar, than the demand created in the remaining 98% of working, middle
class and poor Americans.
2) The housing bubble created during the Bush years, which concealed the
true state of the USA economy: When the housing bubble burst, trillions
of dollars in wealth were vaporized into thin air. This required
President Obama, and his administration, to take immediate, drastic
measures, in the form of stimulus, to prevent a collapse of our country,
and to contain the contagion effect on the rest of the world.
Regards,
LelandJ
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