We tried tax cuts for the rich under Bush, remember. What happened? The biggest Recession in decades. As predicted by liberals.
Bush did a lot of messed up things but he had absolutely noting to do with the financial collapse. This whole "too big to fail" nonsense did, and Clinton's community reinvestment act didn't help either....
I suppose it's easy to blame Bush now isn't it? but it is harder to understand Congress, backroom dealings and basically votes on the bidding block...
I could write a 2000 page book on this financial collapse..
What the hell do you think happens when bigger banks start buying smaller banks and then use those assets to invest in garbage? what do you think when the government forces these big banks to lend to people who are unqualified for a mortgage?
Yeah take a look at Detroit or Gary Indiana.
But this is what you get when you have greedy idiots making false promises to inept politicians in an attempt to legitimize their "banks" - Rockwell tried this **** 60 years prior and it lead to the Great Depression.
But here we are believing that these politicians are the best minds in the world when in reality they're probably dumber than your typical US citizen.
And this chart DOES lend credence to the assertion that roughly half of the decrease in the LFPR is due to retiring seniors.
I was definitely mistaken saying it was not.
Civilian noninstitutional population by age, sex, race, and ethnicity
Man...look at all the old people...their numbers are growing like mad.
We need Carousel for over 75's...
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."
If this is what you see as success, if people dropping out of the workforce and getting on the government dole is such a good thing, hell, everyone should just quit, then we'd have full employment.
Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.
Alexis de Tocqueville
However, that said, I would like to think that somewhere within our government is a team of economic advisors, who would have been sounding warning bells long before we got to the crises state. Some individuals in the private sector were certainly doing that, but apparently no one was listening. So to at least a limited extent, it may be fair to say that Bush was "asleep at the wheel", as the bubble inflated and bursts.
Can't you at least come up with some sexier, weirder talking points to explain Bush complete and utter economic failure. Can it involve gerbils and black helicopters?