5 Reasons Americans Are Right To Blame Bush For The Economy
5 Reasons Americans Are Right To Blame Bush For The Economy
By Annie-Rose Strasser and Tara Culp-Ressler
Sixty-eight percent of Americans including 49 percent of Republicans say President George W. Bush is responsible for the state of todays economy, a new Gallup poll finds.
Indeed, the country is still reeling from Bushs disastrous economic stewardship. His irresponsible tax cuts and deregulatory policies have contributed significantly to the slow recovery and are partly responsible for the nations economic plight. Here are 5 reasons why:
1. Deregulated Wall Street: It was a great time to be a Wall Street executive during the Bush administration. Sweeping financial deregulation helped build the housing bubble and allowed financial institutions to pursue risky trades unchecked. In fact, Bush eliminated the rules that allowed Wall Street to cause the financial crash that plunged the nation into the Great Recession.
2. Cut Taxes For The Wealthy: The Bush tax cuts over 50 percent of which benefited the richest 5 percent of American taxpayers cost about $2.5 trillion over the decade after they were enacted. Ten years later, Bushs tax cuts are still the main driving factor of the national debt:
3. Ran Up A Tab On Two Wars<...>
4. Left Homeowners In A Lurch<...>
5. Weakened Workers: Bush weakened worker safety regulations and collective bargaining rights under the Occupational Safety and Health Administration (OSHA) and the Department of Labor throughout his time in office. Today, corporations are back to making record profits, while workers incomes are falling.
http://thinkprogress.org/economy/2012/06/14/499523/5-reasons-americans-are-right-to-blame-bush-for-the-bad-economy/