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View Diary: Republicans undiscover fire (246 comments)

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  •  You're confusing issues. (0+ / 0-)

    While you're right about the failings of the Bush administration's economic and fiscal policies, most of what you're identifying had little to do with the recession.

    Sure, you can lay the huge inflation of the deficit and US debt square at Bush's feet... but that had almost no bearing on the recession.  Actually, by implying as much, you're feeding the Republic delusion that the deficit is the single most critical economic problem facing the United States.  About the only real link is that the size of the deficit has made our politicians more reluctant to use fiscal stimulus to to combat the recession.

    The recession was caused by the housing bubble, which had in turn been caused by over-investment in mortgage-backed securities and similar assets.  While I'm not convinced that older regulations stripped away by Republicans (or any regulation, really) could have actually prevented that bubble from occurring, that would certainly be a better target for your ire than the tax cuts and war budgets (at least as it relates to this issue).

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