Okay, now Mitt Romney is saying that George Bush and Hank Paulson saved the economy from a Great Depression. Really?
Here is a link that might be useful: link
I'll bite, JG. Why not?
George Bush took this country to the brink of financial ruin and started two wars based on false pretenses that have taken the lives of many young Americans. No way he should be commended for saving the country from a Great Depression. He was the one who put us on the road to a Great Depression.
I suspect we are looking at a little payback from Romney to Jeb Bush for his endorsement today.
I also suspect that we are seeing the beginning of a new chapter in the republican playbook - the Rehabilitation of W. Pretty soon they will be talking about how W. walked on water.
I thought you conservatives were against TARP and the auto bailout? You do realize that's the remedy Bush and Paulson came up with right?
Yes, KT, I was against TARP and the auto bailout, and the bailout of Wall Street.
I don't know of any conservative on this forum that has completely defended or backed George Bush on every issue.
NOT at all delusional. They took the first excellent moves which were followed by other 'great depression' preventing moves.
This has nothing to do with J. Bush payback.
Add to that Romneycare and oh yea, the 2008 Bush stimulus package. errr, was that Socialism?
Republicans have twisted themselves in knots in order to reposition themselves for the election.
Unfortunately when the economy was on the brink, they failed to support the stimulus package and the auto loans which prevented the further tanking of a crippled economy and a likely Depression. Instead they flipped out all angered out about a black President, allowing their right flank to do the dirty work with asinine attacks on Obama, making him prove that he was a Christian, coughing up his birth certificate again, and sitting on their hands as the BP spill filled the Gulf Coast sea bottom with oil...while obama acted decisisvely to make BY set aside 25 Billion to clean up the mess and make people and businesses along the guld cost whole.
Delusional and Angry they are...and all the while they have done nothing but b1tch for three straight years while our economy has slowly recovered and jobs have been created.
I thought they didn't want to relitigate Bush.
OK, I'm all in if they want to talk about Bush again.
Let's start with him and Cheney talking down the stock market before they were selected in 2000. Then we can talk a bit about the vacationing sleepy eyed Bush failing to warn about hijacking threats from bin laden pre 9/11.
Then allowing bin laden to escape and hide without focusing on getting him.
How about those Bush tax cuts? How'd that hope and change for the top few percent work out for the rest and our deficit?
Sure OK, let's talk Bush.
Etch-A-Sketch reset time.
I will give credit to President Bush and Paulson that when they saw that there was a cliff ahead, they turned the vehicle. Now as for why that vehicle was speeding towards the cliff - ignoring warning signs - is another story.
I was in favor of TARP; the alternative was too destructive to consider. We no longer wonder which brokerage house or bank is next to go under.
There should have been demands for much stricter regulation in exchange for the government's actions. Instead the long knives were out for Elizabeth Warren and her agency.
So, let me get this straight.
The republican/teapartiers hated the auto bailout and the stimulus. Socialist, they screamed at Obama! But, it was Bush that started it. And, now that it's working, Bush saved us from the Great Depression II. Delusional spin.
I'm so sick of them yelling about how Obama grows government and spends, spends, spends.
Delusions of Growing Government
Delusions of Spend Spend Spend
Delusional is the perfect title for this post!
Delusional enough to make one's head spin.
Maybe they think that they can spin the electorate's head so fast that they fall for the delusions now being spread.
Otherwise, how in creation are they expecting anyone to believe the crock they are now trying to feed us?
Romney is just making stuff up as he goes along. This whole Etch A Sketch scandal says it all - the staffer ADMITS that they are pandering to the most conservative of their base and when the actual election comes around everything they have previously said will change.
The guy I work with is conservative and I am liberal and the only thing we agree on is that we would BOTH rather vote for Obama than Romney.
This probably signals the tactic the Republicans will take to counter an improving economy. They will circle back around to embracing TARP and the auto bailout and of course conservatives will roll their eyes and forgive them and STILL claim that Obama's carrying forward both of these programs and making them work was socialist. Its the silly season.
They've got to rehabilitate W. so that they can court Jeb and maybe get him on the ticket. They want the latino vote and they think Jeb can bring it.
As they play etch-a-sketch, I hope the Republicans realize that if they are going to revise recent history and re-cast W. as the hero who saved the economy, that means they will have to revise their assessment of Obama who not only continued those policies but expanded and extended them--which makes Obama a super-hero who saved the economy.
I just can't wait to hear Republicans gushing over how wonderful Obama was as he carried on in the Bush economic rescue tradition.
Of course, that will hurt one of Romney's best political lies--that Obama didn't CAUSE the economic depression, but he made it WORSE with his policies. Now how are Republicans going to talk themselves out of that corner? Bush's policies CAUSED the economic depression, but Bush's policies rescued us from economic depression although Obama's extension of Bush's policies made everything WORSE. Oh dear, this just is not working out right--how to get out of this pickle of cross-rhetoric and lies and propaganda?
"I thought you conservatives were against TARP and the auto bailout? You do realize that's the remedy Bush and Paulson came up with right?"
Yep. And as I recall, our fellow libs here were as opposed to the plan as conservatives were. Maybe you weren't here then? It was a lib who started the thread about the plan, and there was a great deal of concern on both sides about the wisdom of government intervention. Bush was in a great big hurry to get it passed before anybody had time to think about it. As with Obama and the Obamacare turkey, the Bush administration rushed to get what IT wanted. No time to listen to anybody. Obama simply continued with the Bush template, and hasn't stopped throwing our money around since he took office.
Yes Nik I was here years before you came and I expressed the same concern and misgivings about TARP as many but thought it was important to pass it to keep the banking system from crashing.
You seem to be unaware that Obama took TARP and made it more accountable than Bush did - his plan had no requirements for banks. Obama's did impose some rules and accountability but but not as accountable as I would have liked. I would have liked to see the President and Congress use the leverage they had at that moment to require banks to take a bigger hit than they did, to write down loans, to give owners easier terms, to break up banks if necesary, to reform the banking system, etc. Unfortunately, it was the Repubs who undermined that possibility - remember how the GOP was offended that Obama didn't want TARP money being spent on bonuses? Remember how the Tea Party revolt was precipitated by a rant on Wall Street against the plans to help owners get better terms from banks?
History cannot be rewritten. It stands as it happened. Delusional is too mild a word.
Even people with poor memories will remember the truth.
KT,you've presented a good summary of the situation.
You must be overly cynical just to keep up with political proclamations during an election year.
Obama simply continued with the Bush template, and hasn't stopped throwing our money around since he took office.
I guess you didn't click on the link above. I'll include it here again. Not throwing the money around as much as Bush and Reagan did.
Here is a link that might be useful: Delusions of Spend Spend Spend
I love this quote from jill's article:
The AtlanticÃ¯Â¿Â½s Derek Thompson put it best: "Going by federal expendituresÃ¯Â¿Â½it would seem that if ObamaÃ¯Â¿Â½s a socialist, Ronald Reagan is Karl Marx with an ICBM."
...ignoring warning signs - is another story.
Well all I remember is that just weeks before the 2008 elections, the Republican administration backdated the beginning of the recession by about 10-11 months...pushing the date back to December 2007. Now the way I interpret it is that somebody was asleep at the helm.
And remember, Bush and Cheney didn't even show up at their own national convention. How often does that happen? What does that say?
I don't think they were asleep at the helm... I think they were positioned behind closed doors with their Wall Street associates, panicking and wondering what to do... trying quickly to put a plan in place that would keep the public in the dark.
It's already been noted several times in past threads that Moody's and Standard & Poor's were lying about the state of things... lies they were paid to tell, from what I hear tell.