Economy: Don’t Blame President Bush
I am about as much an expert on the economy as Rosie O’Donnell is a serious political analyst. Nonetheless, I am more than capable of reading experts (probably more so than Rosie).
Here is the thing - Democrats (or at least Leftist Dems) lie. President-Elect Obama proved if you lie enough about your past (via the dismissal of relevance), then people will vote for you.
The President-Elect was quick to blame President Bush for the economy in the initial stages of its faltering that began with the Freddie and Fannie floating of horrific home loans to poor people who had NO WAY to pay back.
Now I know that Republicans in the House and Senate did their best to reform Freddie and Fannie (of which Senator McCain was one Republican involved) when the economic signs pointed to a possible future disaster. Of course the possible became the actual. That actuality was set up by ranking Democrats that were heavily lobbied to the tune of $170 MILLION.
I at first felt the Republican Congressman was doing their job and that President Bush missed the boat by not getting behind fellow Republican watchdogs. Now former Bush Administration insider Karl Rove sets the record strait. The Dems, Freddie/Fannie and Leftist lobbyists combined to paint a false picture of altruism to help the poor own their own homes.
As Karl Rove points out, President Bush was not against the poor owning homes. President Bush was against providing loans to the poor to buy homes they couldn’t possibly afford. So DO NOT blame President Bush for this economic crisis, blame the Dems and the Leftist lobbyists that pushed for bad loans to go through to satisfy the greed of a buck that later would crash America’s economy.
When banks began to crash (e.g. Freddie and Fannie) those industries that depend on banks began to crash; ergo the current economic crisis is not a case of Capitalism gone wild, it is a case of mismanaged Democrat Leftism gone wild.
JRH 1/10/09
