Sixty-eight percent of Americans — including 49 percent of Republicans — say President George W. Bush is responsible for the state of today’s economy, a new Gallup poll finds.
Indeed, the country is still reeling from Bush’s disastrous economic stewardship. His irresponsible tax cuts and deregulatory policies have contributed significantly to the slow recovery and are partly responsible for the nation’s 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, Bush’s tax cuts are still the main driving factor of the national debt:
3. Ran Up A Tab On Two Wars: The wars in Iraq and Afghanistan have cost the country trillions of dollars. Combined with Bush’s tax cuts, war spending was a main factor in blowing up the deficit and spending thesurplus accumulated under Clinton. Lawmakers now use the deficit as an excuse for inaction.
4. Left Homeowners In A Lurch: While Bush was happy to help out the banks in the wake of the housing crisis, he did little to assist struggling homeowners. Hope For Homeowners, Bush’s proposal to assist those struggling with their mortgages, was a colossal failure; in its first six months, it helped just one homeowner renegotiate his mortgage. Many mortgage holders — 15.7 million or, one in three — are still underwater today.
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.
More:
The BUSH DECADE LONG DEPRESSION WORST since Great Depression. FED Reserve just released its already antiquated 2010 3 Year Survey of Consumer Finances:
$209,500 was 2007 Median Home Value $170,000 was 2010 Median Home Value
$74,700 was 2007 Median Mortgage
$74,100 was 2010 Median Mortgage (Near ZERO change)
_7% of Income was 2007 debt payments
11% of Income was 2010 debt payments
$126,400 was 2007 Median Wealth of American Families
$_77,300 was 2010 Median Wealth of American Families (lowest since 1995)
12% of American families have A NEGATIVE NET WORTH - BR0KE!
O.OOO13% RICHEST MADE A MASSIVE HAUL (GAIN)!
$34,800 was 2007 for Americans with no high school diploma (15% of Americans)
$16,100 was 2010 for Americans with no high school diploma
54% DROP - Lowest since 1983 - 30 years ago
$14,800 or less was 2007 Bottom 25% Net Worth
$_8,300 or less was 2010 Bottom 25% Net Worth (44% decline)
$29,700 or less was 2007 Net Worth Among Minorities
$20,400 or less was 2010 Net Worth Among Minorities (Lowest since 1992)
$955,600 or more was 2007 Top 10% Net Worth
$952,500 or more was 2010 Top 10% Net Worth (1% decline)
_ 540% Higher White Median Wealth over Minority Median Wealth.
4,610% Higher Top 10% Median Wealth over Minority Median Wealth.
------------------------------
Learn From The Master Contractor
Have a Home Project That needs attention, But You Don’t Have the Money to get It Done. However, if you look at it maybe you can do it yourself? Wait! Why not learn from a Pro step by step at your own pace, on your own dime!
Indeed, the country is still reeling from Bush’s disastrous economic stewardship. His irresponsible tax cuts and deregulatory policies have contributed significantly to the slow recovery and are partly responsible for the nation’s 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, Bush’s tax cuts are still the main driving factor of the national debt:
3. Ran Up A Tab On Two Wars: The wars in Iraq and Afghanistan have cost the country trillions of dollars. Combined with Bush’s tax cuts, war spending was a main factor in blowing up the deficit and spending thesurplus accumulated under Clinton. Lawmakers now use the deficit as an excuse for inaction.
4. Left Homeowners In A Lurch: While Bush was happy to help out the banks in the wake of the housing crisis, he did little to assist struggling homeowners. Hope For Homeowners, Bush’s proposal to assist those struggling with their mortgages, was a colossal failure; in its first six months, it helped just one homeowner renegotiate his mortgage. Many mortgage holders — 15.7 million or, one in three — are still underwater today.
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.
More:
The BUSH DECADE LONG DEPRESSION WORST since Great Depression. FED Reserve just released its already antiquated 2010 3 Year Survey of Consumer Finances:
$209,500 was 2007 Median Home Value $170,000 was 2010 Median Home Value
$74,700 was 2007 Median Mortgage
$74,100 was 2010 Median Mortgage (Near ZERO change)
_7% of Income was 2007 debt payments
11% of Income was 2010 debt payments
$126,400 was 2007 Median Wealth of American Families
$_77,300 was 2010 Median Wealth of American Families (lowest since 1995)
12% of American families have A NEGATIVE NET WORTH - BR0KE!
O.OOO13% RICHEST MADE A MASSIVE HAUL (GAIN)!
$34,800 was 2007 for Americans with no high school diploma (15% of Americans)
$16,100 was 2010 for Americans with no high school diploma
54% DROP - Lowest since 1983 - 30 years ago
$14,800 or less was 2007 Bottom 25% Net Worth
$_8,300 or less was 2010 Bottom 25% Net Worth (44% decline)
$29,700 or less was 2007 Net Worth Among Minorities
$20,400 or less was 2010 Net Worth Among Minorities (Lowest since 1992)
$955,600 or more was 2007 Top 10% Net Worth
$952,500 or more was 2010 Top 10% Net Worth (1% decline)
_ 540% Higher White Median Wealth over Minority Median Wealth.
4,610% Higher Top 10% Median Wealth over Minority Median Wealth.
------------------------------
Learn From The Master Contractor
Have a Home Project That needs attention, But You Don’t Have the Money to get It Done. However, if you look at it maybe you can do it yourself? Wait! Why not learn from a Pro step by step at your own pace, on your own dime!
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