Monday, January 12, 2009

Admission of Guilt

"I readily concede I chucked aside my free-market principles when I was told . . . the situation we were facing could be worse than the Great Depression."  -George W. Bush, January 12, 2009

And I readily concede that I lost a great deal of respect for President Bush at that very same time.  -SLC


dameon said...

I'm still wondering how he went from "the economy is in good shape" to "a situation worse than the Great Depression" in six months.

latinmassgirl said...

Big government never helps. Just look at Roosevelt's huge expansion of our government during the Depression. It was the war that finally got us out of the horrible, jobless shape we were in. Big spending just made everything worse for a good seven years. Several other countries are benefitting from figuring that out, among them, Ireland and Russia.

So, the Bush's signing on with the Democrat's recent spending to save our country, just helped contribute to the recession.

Dameon - Things weren't as dire as they are now, six months to a year ago. Obama's promise to spend our money and raise taxes on corporations and individuals dropped the stocks and the confidence of the American people, thus the recession.

Dameon said...

Okay, so you're blaming the economy on Obama before he takes office?

I don't doubt that he probably doesn't have the right plan, but thinking he has that kind of influence on the economy just running for office is ludicrous.

The housing market has been set to colapse since the Clinton administration openned the doors to risky financing. The Fed has been proping it up for years with their interest rate manipulation. It was the oil prices at $150 a barrel and gas at $4.00 a gallon that pushed it over the top, not Obama's campaining.

Open your eye's and put down that koolaid.