It has been claimed more than once that the current recession is due to the failed economic policies of President George W. Bush.
But think back to 2006. The economy wasn’t doing so terribly then, though things were supposedly “slowing down”. President Bush’s biggest problem was not his management of the economy (although that’s not even the President’s job, anyway). The problem with him was the War in Iraq. I also oppose the War in Iraq and that is the reason why I think President Bush was harmful to this country. I don’t have a problem with his handling of the economy, however. Certainly it was better than the president before him.
What happened in 2006 were the United States midterm elections.
“All United States House of Representatives seats and one third of the United States Senate seats were contested in this election, as well as 36 state governorships, many state legislatures, four territorial legislatures and many state and local races. The election resulted in a sweeping victory for the Democratic Party which captured the House of Representatives, the Senate, and a majority of governorships and state legislatures from the Republican Party.”
The economic recession became reality in the 2 years after their victory.
Not a single Democrat senator voted against the “economic stimulus”, an action which certainly did far more harm to the economy than good. Is it any wonder that the economy has become so terrible since the Democratic victories of 2006?
Congress is far more responsible for the economic downturn than the President. We’ll see if Congress is smart enough to pass bill H.R. 1207, the Federal Reserve Transparency Act, which is being debated right now.