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| Re: Mitt Romney: George W. Bush Saved Country From Depression (922964) | |||
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Re: Mitt Romney: George W. Bush Saved Country From Depression |
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Posted by WillD on Fri Mar 23 19:34:12 2012, in response to Re: Mitt Romney: George W. Bush Saved Country From Depression, posted by AlM on Fri Mar 23 08:45:43 2012. But it's not necessarily right that they did so. If the Bush Administration had not tried to curry political favor with the electorate by sustaining the dot com bubble with the housing bubble then we'd likely have had a natural downturn in the economy back in 2003. Things would have been bad for a few years, but they certainly would not have given the mortgage bundlers five years in which to have their bad decisions fester and become disastrous. More importantly we wouldn't have had six years of stagnant economic growth and the worst job creation numbers of any two term president despite tax cuts that were absolutely ruinous to our deficit.Recessions are like wild fires. They may be destructive, but they're essential to weed out the weak undergrowth and garbage investments before they can do real damage when they fail. We can delay the onset of a recession, but as the Bush administration showed us, only at extreme cost and only at the risk of increasing downturn when it eventually comes. |
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