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Originally Posted by whell
Give me a break. The Bush first term was met with the economic impact of the burst of the dot com bubble, the lingering impact of the Y2K scare. EGTRA was passed in June 2001, but then we had planes ramming into the WTC and the Pentagon. This caused the recession to deepen and lengthen, caused a huge ripple in the insurance / reinsurance markets and a significant downward push in stock prices. To say that the tax cut, and the face of that set of circumstances, "didn't lead to economic growth" is really playing pretty fast and loose with the facts.
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The Deafness Before the Storm
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The direct warnings to Mr. Bush about the possibility of a Qaeda attack began in the spring of 2001. By May 1, the Central Intelligence Agency told the White House of a report that “a group presently in the United States” was planning a terrorist operation. Weeks later, on June 22, the daily brief reported that Qaeda strikes could be “imminent,” although intelligence suggested the time frame was flexible.
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Bush II was warned and then as retaliation, he started a war in Iraq.
Whether you like it or not, he gets the blame for compounding our financial woes. Tax cuts, war(s) and the the beginning of TARP.
From the failing NYT of course.
http://www.nytimes.com/2012/09/11/op...-warnings.html