johnm h Wrote:
Nov 15, 2012 7:12 AM
No, Bush made lots of mistakes, some gigantic, but the economy would be recuperating strongly with just a few reforms. Bush's fiscal mistake was to see the burst dot com bubble and 9/11 as recessions requiring stimulus. They were a decline following over investment in a new technology and a one time shock, and would have recovered quickly on their own. Obama in contrast inherited a burst artificial bubble caused by the Fed and really stupid financial policies which Bush didn't try hard enough to stop. But Obama is delivering more of the medicine that made the economy build an artificial bubble and go boom. It is really criminally stupid what we're doing.