How can it not be anymore painfully obvious?
http://www.usnews.com/blogs/barone/2008/鈥?/a>
Obama had his chance to correct the economic crisis caused by the democrats as a result of their own parties role in destroying the housing market which in turn caused banking problems, and instability in the market.
Instead of fixing the problem as promised in his campaign, he passed a money laundering stimulus plan which was the largest expense in Government history, knowing it would have ZERO effect on our economy. It was typical Chicago political style dirty payback for his crooked supporters, through a hidden bill that wasn't released to the public.
On top of that, Dodd and Frank have not been held responsible.
Obama is responsible for the current state of the economy, not Bush.|||1. They don't remember what it was like before we elected a democratic congress.
2. Obama said so
3. Whomever is in office when the market crashes is responsible, has nothing to do with Congress's apparently
4. CNN says so
5. Ignore the fact Obama had something to do with the housing problem, he couldn't defend that with McCain in final debate.
6. I guess they don't believe if you call a man Mr. President he's assuming this is his country now to run, and his responsibility to own up to. Just like bush took all that bashing although it was congress's mess.
Hence..... hypocritical - they'll be blaming bush for decades.|||This is what people have failed to understand that now that Obama and Burris are in Washington, they have moved the Chicago corrupt political machine to Washington, and continue in their repayment of campaign donations to these corporations.
While the stock hit the lowest in years and people continued to loose their jobs and homes, Obama goes to basketball games and host parties costing thousands of dollars, spitting in the face of those who voted for him.|||Obama even said Bush didn't cause this that it was started in the Federal Reserves but you are right, he had the chance to fix the problem. He only had to do basically two things to get it right but he chose not to. Instead he complains about the debt he inherited and then proceeded to nose dive us into another one!|||It is easier to blame Bush than it is to learn about economics.
You are absolutely correct about the housing crisis and its direct relation to the state of the economy. Libs would much rather quote Obama's speeches as doctrine even though his figures are way off.|||so you think that these problems instantly began on 1-20-2009. they all began when bush was in office, and now that red neck is gone and left the problems for obama to deal with. obama's term began at one of the worst possible times, and now people like you are blaming him for it.|||No the current state of the economy started with Bush, since Obama is trying his best to turn everything around everyone wants to blame him.|||Stupidity. They caused this turmoil deliberately to push Fascist laws upon this nation. Remember 2010 and all will be well.|||Democrats entered into a recession thats why.|||We are in a depression? Wow, that's news to me. How can anyone answer this question when it's premise is based on an untrue argument?|||The problem was started by the administration before.
It it gets worse... it will be both Bush and Obama's mess.|||becuase uhhbama and the media have told them otherwise, but both parties are to blame|||Talk about blinders on. No one can intelligently put blame on either side for this mess when BOTH parties are at fault !!!|||I am really getting sick of Obama. He doesn't know what he's doing, and if|||They're running about 8 years behind us here.|||Of course Obama is not responsible for the current state of the economy. That's kind of silly actually, given that he was just elected to the senate a few years ago and he just became president at the tail end of January. But, I also can't say that the Democrats are totally innocent in this - I think that there is plenty of blame to go around - but this problem lies squarely at the feet of the Bush Administration - no matter how you slice it.
Why do I say this? Because there are a number of reasons for the economic downturn - one of which is the deregulation of many industries, including financial, which led to less oversight. So, when the entire derivative market was booming with money that didn't exist anywhere else but on paper - there was no one to really object. Additionally, the wars (Afghanistan and Iraq) have taken a huge bite out of our budget. And we do know, from the election, that Obama didn't vote for the war (he wasn't in office then). We've also had a lot of problems with housing and the mortage industry. Housing prices soared and loans were incredibly easy to get a few years ago. I remember thinking about buying a house and finding out that I could "afford" a home that cost 400,000 dollars. Of course, I knew that no matter what anyone else said, I couldn't really do that. I always knew that an ARM could get me into trouble, so I chose not to do it. But a lot of people didn't - they believed it when loan specialists told them that they could afford a certain amount - they wanted or needed the home - so they bought. It was irresponsible on the part of the people in some cases - because some knew they couldn't afford a house. But in many many many other cases, companies were just plain old deceptive. Look at the mortgage bankers (countrywide for example) that lied to their customers. On top of this, for years we've not been investing in our country. Instead, we've outsourced jobs because it is cheaper to get someone in India or China to do work - we have a horrendous trade imbalance, and so many of our assets are owned by foreign entities that it is very sobering when you think about it.
I know I won't get best answer because I'm disagreeing with you - and that isn't the reason I'm writing this. To be very frank, I think at this point, we as Americans shouldn't look at this issue in very simplistic, dualistic terms - Republicans = good - Democrats = bad. This is much bigger than that. The blame can be placed at the feet of many people of both parties - and the solution will lie there as well. What we need to do, is look at the current plan, voice objections to things that aren't helpful, voice support for things that are, and start looking at our own part in this.|||Both parties are responsible. The whole blame game is how the Super Parties keep "We the people" from holding out own party responsible. For the first TARP we were told that the 3 page bill passed by the house was a blank check for Wall Street and the Senate was going to add oversight to "protect" us. They ended up with 140 pages with earmarks for "Alaskan fisherman" and "arrow head makers" and many, many others. And oversights? NONE! Then they had the gull to close their sessions knowing that they were getting an automatic pay raise. They could have turned it down, knowing that the tax payers had just been put on the hook to bail out Wall Street (which promptly misused that money) but they did not. That is on BOTH parties friends, and we are kept distracted with the "evil other party" blame games so we will not confront or vote out those self serving SOB lifers in Congress. I told my Senators by email to vote No to the first bail out as many others had, and was ignored. They will not get my vote in 2010 because #1 They ignored me when I said vote NO! #2 They failed to protect the tax payer from the misuse of tax payers money. #3 They took a pay raise adding to the burden on the tax payer. That showed me that they do not represent my interests, just their own interests.
They are two sides of the same coin. They look different, but neither is worth the cooper they are imprinted on when it comes down to serving the interests of "We the people."
A whisle blower warned the SEC about Madoff and nothing was done. How is that the fault of the Democrats? And then yet another fraud has been uncovered.
Money managers accused of $550 million fraud
http://news.yahoo.com/s/nm/20090226/ts_n鈥?/a>
I expect more frauds to be uncovered in the weeks to come. These were not Freddie Mac or Fannie Mae fruads. They were Wall Street were deregulation was applied under the Bush administration. Add to that the Corporate welfare:
The USA economy is a consumer driven economy. By outsourcing jobs the corporations have nearly destroyed the consumer base which drove the economy. Now the stimulus bill is like a tow truck trying to pull the consumer base out of the ditch that the corporations drove them into. Once they are out of the ditch (jobs are created and restored) the tow truck will no longer be needed and the consumer driven market can return to a more normal functioning. It is a solution to a crisis and will not become the forever situation that people are so worried about.|||This is 100% the result of the Democrats whether they like to hear it or not, I could really care less. Obama's main advisor, Axlerod, says Obama doesn't pay attention to the stock market and I have to ask Obama's supporters how they can possibly tolerate that attitude if they have a 410k because their 401k is diving because of the stock market...where do they think their retirement comes from, the tooth fairy?|||Eric, you appear a fool when you ask so to be for sources when you have failed to provide sources.
In your case you are in denial of the facts as reported by the media for the last two years.
The Bush administration lost $12 billion in cash in Iraq, this is over and above the billion a month spent to wage a war based on lies. Billions that were not included in the budget.
The Bush administration has strangled the ability of our protective agencies, food and drug, environment and fiscal to protect the interests and safety of the American people.
While you whine that instead of fixing the problem "he passed a money laundering stimulus plan" you offer no other solution to our failed free market system, any suggestions, other than more tax cuts for the very rich?
Do you even know what "money laundering" is and can you explain its relationship to this event?
Just as Hoover was responsible for the Depression of 1930 Bush is responsible for the Depression of 2008.|||Obama did not make the problem
.
It all started with Bush anomics
.
And Obama was given the sinking ship to try and keep afloat
.
Sorry to say
.
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