…It is facile for Democrats to blame Republicans (who have not been in control of Congress since 2006, when unemployment was 4.4%).  While this argument is facile, it is also flaccid.  If you’ll notice, the Democrats never quite say exactly what Bush did to make this happen.
(There is a good case that Democrats, Barney Frank in particular, caused the housing bubble and burst, and the Fannie/Freddie failures in particular.  But I still fail to see how that relatively minor failure in one sector of the US economy led to a global financial meltdown.)

Did Bush spend too much?  Or too little?  If he spent too much, why are Democrats spending even more, by absurdly humongous amounts?  If he spent too little, why do they criticize his deficits, while quadrupling the deficit from 2008 to 2009 themselves?  And don’t blame it on tax cuts…

                                          (Clinton)2000            (Bush)2008                % Increase

Total Debt (dollars)                  $5,628.7B          $9,654.4B                  72%
Held by Public ($)                    $3,409.8B          $5,428.6B                  59%
Total Debt (%GDP)                 58.0%                  67.5%                       16%
Held by Public (%GDP)           35.1%                 37.9%                         8%


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