Is the Bush Administration responsible for the economic crisis?

There is always market instability when the end of a presidential term happens. But this one is significant. Banks are going under, insurance companies are getting federal pardon, people are losing their homes, the unemployment rate is HIGH, the economic stimulus checks didn't do DIDDLY, and the price of our utility bill, grocery bills and gas are HIGH. Tuition is the highest its ever been, etc. How many of you think this will change with a new administration?

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averillholistix

Asked by averillholistix at 3:40 PM on Sep. 20, 2008 in

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This question is closed and filed in the CafeMom Encyclopedia.
Answers (23)
  • Yes I do. I blame the current administration. Before he came into office we were enjoying great spending power. In the last 8 yrs. this administration has managed to shrink that spending power considerably. There are no jobs and he has done nothing to stimulate our economy. Spend billions in an oil war and ship our jobs over seas. A new administration can help solve the problem but it will be a slow process. we won't rebuild in a couple of years what he destroyed in 8 yrs.
    ny.chica

    Answer by ny.chica at 6:28 PM on Sep. 20, 2008

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  • Our monetary system requires exponentially more debt to stay alive. Each bubble has been an order of magnitude greater than the last and if there is another, it will truly be the mother of all bubbles. The Bush admin. did not create the problem (certainly hasn't done anything to stem the tide, though). It's been festering for many years, republican and democrat. No, I don't believe that Obama or McCain will do anything to change the trend... their statements prove them both to be economically clueless.
    Cecropia

    Answer by Cecropia at 4:05 PM on Sep. 20, 2008

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  • I don't think that Bush alone is to blame for the economic status, but we're definitely in a bigger hole than we were the previous eight years before him. Before that, I can't say I remember much. All I know is billions of dollars went to the war effort. A huge chunk of American revenue went out the door when he sent our jobs to China, Mexico, and Canada. The biggest problem was, even though he wasn't spending, spending, spending (besides on the war), we just weren't getting in any new revenue. For instance, one time he cited that the job market was starting to increase and people were starting to get more jobs. If you looked at the studies, those jobs were part-time jobs or McDonald's-like jobs. Don't get me wrong; a job is a job, but we need new careers in the US.
    KatieBatey

    Answer by KatieBatey at 5:46 PM on Sep. 20, 2008

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  • I DO!!!
    Anonymous

    Answer by Anonymous at 5:57 PM on Sep. 20, 2008

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  • I don't blame him entirely. We (as a country) have been living beyond our means for years.
    Imaginaryfriend

    Answer by Imaginaryfriend at 6:08 PM on Sep. 20, 2008

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  • No I do not blame just Bush. If Congress would quit putting bullshit that costs us taxpayers millions of dollars in every damn good bill that is passed, we may actually be doing better.
    AKEllen

    Answer by AKEllen at 7:12 PM on Sep. 20, 2008

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  • I do too! The President has more to do with this than what people are aware of! Are you mad?
    coke2pep

    Answer by coke2pep at 7:52 PM on Sep. 20, 2008

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  • The President DOESN'T MAKE THE LAWS ... Congress does. THE DEMOCRATIC CONGRESS has been running this country into a recession for the last 4 years.
    We enjoyed prosperity during the Clinton terms because THE REPUBLICANS WERE RUNNING CONGRESS! We enjoyed a housing boom during the first 4 years of Pres Bush (current) term because THE REPUBLICANS WERE RUNNING CONGRESS.
    The Democrats get their hands in the money and recession hits. Look at the 80s during Pres Reagan's term. We had a slowing of the economy back then as well BECAUSE THE DEMOCRATS WERER RUNNING CONGRESS.
    See the trend??
    Our economy has NOTHING to do with who is in the White House, it has everything to do with who is running Congress.
    Do the research! I have.
    USMCwife2girls

    Answer by USMCwife2girls at 8:42 PM on Sep. 20, 2008

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  • Oh, please don't do the whole Democrat/Republican thing. The Dems have had the House and the Senate for two years, and things were slipping extremely quickly before that. I don't know why, I'm not a politician, but I can tell you this: it doesn't matter what the freak the political party is! We are all human, we're those ones who vote, if you wanna place blame, blame everyone.
    KatieBatey

    Answer by KatieBatey at 9:35 PM on Sep. 20, 2008

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  • Someone need to take another look Democrats won the House and Senate in the 2006 elections but didn't "take control" until January 2007. Wow thats 4 years???? I dont see it..
    homemom1620

    Answer by homemom1620 at 9:50 PM on Sep. 20, 2008

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