I see it this way, I blame Clinton and the Bush(s) for the mess we are in now. In fact, I think you can probably blame every president down to Hoover for the mess we are in now. But for recent history let's stick with Clinton and Bush(s).
Clinton inherits an economy from H.W that is in the dumps (I remember that was the last time I saw full-time drivers bumping part-timers). H.W.'s little foray into the Gulf, unlike WW2 which caused a post war economic boom (which, in retrospect, was a anamoly that I don't care to delve into here, but lets suffice to say that war does not usually create wealth but destroys it.), probably had a hand in this. So too, Reagan's unfortuanate policy of lowering taxes but unfortunately increasing spending (Heck, we did out spend the USSR and defeated them in the Cold War but let's not forget there was a price for doing that).
Clinton does nothing to get us out of this recession but because of the internet/personal computer boom, stocks rise, jobs are created, and we have the birth of the tech bubble. Unfortunately, reality sets in and Wall Street discovers that all the web is not pixalated in gold. Market gets saturated with hardware (which, no thanks to Clinton era polices, is mostly made in China), shutting down the initial strong demand for personal computers. And, if anything, consumers start to use the internet not to line advertisers pockets with cash, but to download music, movies, software for free, thus depriving stockholders of income. Tech bubble burts, W. inherits a mess.
What is W.'s solution? Through interest rate manipulation, the Fed creates an abundance of cheap money. What does the American consumer do with it? Why, refinance their homes not to lessen their debt but to create more of it! We went on the biggest spending spree since after WW2. This created a housing boom as people traded up for bigger and better. There was so much work that most people overlooked the fact that our country was being overrun with illegals, there was work for all! But, like all good (!?) things, this has all come to an end, thanks to greed and the government.
The government, in a bid to create more home ownership, told the banks to make more loans to those who may not be able to handle them. But did the government than tell the financial industry to package this debt into bundles that other's could invest in? Are we to believe that this entire melt down was caused by poor people defaulting on their loans? Or maybe, did the banks gleefully write as many loans as possible to everyone as they were making money hand over fist? Loaning small amounts to someone trying to buy an affordable housing unit is different than loaning money so somebody can trade his quaint little cape cod for a Mcmansion. Which borrower do you think hurt the banks more?
Nevertheless, only a fool would believe that the housing market was going to sustain this economy forever. What originally created this First World economy is what is creating China's now, a strong manufacturing based one. But since we have squandered that to save a buck at Walmart and to make our stocks go up a percent, I guess we will have to suffice by flipping eack other's pizzas as we pump each other's gas. Oh wait, we can get an illegal to do that cheaper so I guess us citizens are out of luck.
Add to this the incessant war mongering that we do. Heck this was just dandy when we were number one in the world financially. But since we are quickly becoming the opposite, we are running out of ways of paying for being the world's policeman for a world that resents us for wearing that uniform.
And I do understand W. had 9/11 land in his lap. But it landed there due to the negligence of both parties catering to a business community that has a lust for cheap labor that is so outrageous, that the government allows legal immigration from countries that have cultures that forment hatred of America while at the same time we have borders so wide open that we now ironically protect the South Korean border better than our own.
So, to sum up, I have no use for either party. They are two sides to the same wooden nickel. They both fail when it comes to protecting American lives and livelihoods. What we need is a real choice.
Grill baby...Bling Bling...What size rims you running?
sheep without a clue what O was really all about. All they saw was a free handout. What they never took into consideration was the consequences of electing this ultra liberal buffoon, along with his pack of jackasses in Congress, were.
