KEEP TRYING TO HAMMER the purported point (it isn’t, but whatever) that Obambi “inherited” a mess from Bush.
Which is true insofar as economic conditions were in freefall at the time that teh Won was immaculated, but a bald-faced lie in attempting to push the blame onto Bush.
Q: What caused the crash? A: The collapse of the housing bubble.
Q: What caused the housing bubble? A: Unrestrained lending supported by the corrupt government commercial entities Fannie and Freddie.
Q: Why were Fanny and Freddie supporting unrestrained lending? A: Because socialists on the Left wanted to curry favor with grievance groups by making it easier for them to buy houses they could not afford under a more-disciplined lending regime.
Q: Whose policies drove this process? A: The Democrats’.
Q: Was anything done to prevent the crash? A: The Bush administration in particular and the right in general had/have been warning against the practices mandated by Democrats at every opportunity — threatening banks and bankers with all manner of sanctions if they didn’t knuckle under to the Democrats’ demands — demands that are the economic equivalent to legislating that pi=3.0.
Q: Did the Democrats cooperate? A: No. They did everything they could to stonewall any attempt to rein in Fanny and Freddie, defending indefensible compensation packages for the very executives who managed the process which brought the country — and as a consequence, the global economy — to the present brink of the abyss.
Q: Have the parties responsible for the collapse been punished? A: No.
(Those would be such individuals as Franklin Raines, Jamie Gorelick, Barney Frank, Maxine Waters, Nancy Pelosi, Harry Reid, inter alia.) In fact, the Democrats continue to fight a desperate rear-guard action. And, it is predictable that they will continue to obfuscate and use all manner of parliamentary tricks to scotch any investigation by Republicans after the election.
Q: So this all happened on Bush’s watch? A: Despite his best warnings and attempts to stop it, yes.
Q: You’re saying it’s not entirely fair to blame him for the current state of the economy? A: No. I’m saying that the blame rests squarely on the Democrats — including the President, who was in Congress during the latter period of the buildup to the disaster — starting with their takeover of Congress in 2007 and continuing to today.
Q: So what’s your solution? A: Voting the Democrats out of office would be a good start. But, in all honesty, there may not be a solution. It may be that disaster — runaway hyperinflation, government collapse, enconomic calamity, and depression on a scale not hitherto seen — is inevitable, that we’ve already passed the tipping point all unawares.