As much as we all like blaming the current administration when economic times are bad or lauding the current administration when they're good. Most of us know that the American economy is a multiple-trillion-dollar ship and it can't be turned on a dime. The current financial meltdown isn't a result of policies put in place a year ago or even four years ago. It's a result of incremental victories by free-market evangelists (mostly Republican) over the past 28 years to destabilize the economy by reducing regulation. And Democrats wimping out and giving in.
Dispite patches like the bailouts of Freddie-Mac, Fannie-May, and AIG, this ship isn't going to turn in a hurry and we're going to take a lot more damage even if we elect a captain who pulls the helm far to port or starboard immediately.
Regulation isn't a panacea, but the greed-driven free-for-all only makes things worse. Times have changed since the 30s, I don't think this coutry can survive another depression - and that's where we're headed.
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"also individual consumers are at fault for over purchasing. "
It's so nice to see a conservative admit Bush's admonition to keep spending when he started the Iraq war was stupid. Good for you!
Maybe Bush has been more vocal about urging people to spend to help the economy, but I don't think that is an idea that is unique to him.....the whole govermental machine seems to want the country to run on debt.........both Republicans AND Democrats..........
..............and don't get me started on the amount of money we send to countries that hate us and would love to see us disappear from the face of the earth, ........we have been doing this too long........REGARDLESS of who sits in the White House...