Quote:
Originally Posted by Rochard
Yes, the economy goes through changes.... But the President and our government has a huge impact on this. Bush failed us. He didn't just fail us, he failed us in a spectacular fashion. Do I think Obama was our hero and our savior?
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Bush had nothing to do with the legislation that required lenders to make loans to increasingly unqualified borrowers. It also was not Bush's fault that Wall Street got very very good at selling bad loans wrapped into securities. The failure was in not recognizing how bad the problem was until it was too late. Obama certainly didn't fix anything in spite of trying.
The housing bubble burst, the economy imploded and as is the case every single time, it began to recover.
Obama didn't cause the economy to recover. Bush didn't cause it to collapse.
Clinton didn't cause an economic boom which was brought on by explosion of ecommerce... he just happened to be in office at the right time.
Presidents don't even make laws. That requires the House and Senate and there is NO legislation which you can blame for anything of that era which doesn't have significant votes from the other party. It certainly doesn't trace to one person.