There are advertisements all over the Internet that ask the question: who ruined the economy, and it has pictures of George W. Bush, Bill Clinton and Barack Obama. Inside there is a poll with questions that all point to Barack Obama as the man responsible for the economic precipice America stands on.
However, the facts tell a different story that is difficult to argue with, and it plainly points the finger at George W. Bush and the Republican controlled Congress as the culprits guilty of ruining the economy.
When Bill Clinton was President, there was a huge deficit that George H.W. Bush left for him to deal with. The Democrat controlled Congress put in place regulations to control the banking industry and by the end of Clinton’s tenure as President, there was a huge surplus left for W to work with.
Bush and the Republican controlled Congress certainly did work with the surplus and squandered it away on tax cuts for the very wealthiest white Americans, and in 2002, they let the regulations on the financial industry lapse and with no regulations in place, the thieves went crazy.
Then Bush got a wild hair idea to invade Iraq and give no-bid contracts to Cheney’s Halliburton and the Christian extremist Blackwater group, and spent billions on an unnecessary war. Besides destabilizing the region, the war wasted billions of dollars and thousands of lives.
Bush and the Republican controlled Congress also set up the deal to send thousands of American jobs to Asia because there were no regulations for companies in foreign countries, and the foreign countries did not have their own regulations. These items guaranteed windfall profits for corporate America and the banking industry, with no oversight or regulations to keep them honest.
That brings the scene to 2010, and there is a push back against any new regulations on the financial industry or increased taxes on the obscenely rich by Conservative Republicans who are desperate to protect their rich, white corporate buddies some of which are heavily involved in the Tea Party movement like newly elected Massachusetts Senator Scott Brown.
So the answer to the poll regarding who is to blame for the economic downturn is George W. Bush and the Republican controlled Congress. It began in 2002 when the regulations on the banking and financial industry expired and were not renewed so corporate America and the financial institutions could continue raping the American public out of hard earned money, and Fox News heavily promoted tax cuts and deregulation then and they continue today.
It continues now with Republicans letting the Tea Party Patriots and Sarah Palin rail against the health care reform bill so the insurance industry can keep their monopoly and stranglehold on people, and keep their bottom line in the stratosphere.
The next instance of a poll that asks who is responsible for the economic downturn, let us remember the answer is Bush and Republicans who let regulations expire in 2002, and the ultra extremist Conservatives will continue if they get their way. They care more about corporations and big oil than they do the American people.
So, thank you W, and your rich, white, tax evading corporate buddies in the banking, oil, and bomb loving, military industrial complex business, because it is important that you do well and get richer while the average American goes without access to affordable health insurance.