Why the Bush debt-recession will topple Clinton's equity-recession

This credit crisis has come primarily from the state of California and Florida. It is easy to blame George W. but he didn't make one loan of the 47% that went to people not credit worthy enough to receive them in the first place. Why aren't we examining the billions of wasted dollars going to illegal aliens through health care and welfare payments, as well as the trillions being wasted on welfare itself? And now is a great time to ask the question, when will the environment wackos take responsibility for the high gas prices as our country's ability to produce more supply has been eliminated due to no new refineries being built over the last 40 years as China and India are gobbling up supplies without any restrictions on polution. For all you Bush bashers and haters, when he is gone, the current situation will still be here as it was before he was elected. A bloat of able bodied welfare recipients raping our govenment coffers, a spiraling polluting economy in India and China and our country being influenced by a liberal Left media that continues to place blame on George Bush. Wake up, Government is the Problem as President Regan's policies proved correct to create the largest economic boom in our countries history. Lower taxes and government handouts to able bodied people, placing an importance on education and productivity. Build more refineries now because we have an abundance of oil in our own country and if given the opportunity to drill and produce it would eliminate our debt and economic struggles overnight with the increase of blue collar jobs that would be generated that are being outsourced to other global countries.

But aren't we safer today than before 9/11? Isn't that what this costly war was supposed to do? Where are all the flag wavers that supported Bush during his wild and crazy spending years? Let's hope America we'll do better next time we vote a leader in. Next time don't listern to promises and what the candidate thinks America should be. Next time vote for a leader by his accomplishments and his record for which George Bush had NONE

the next president should try Bush nee BOBO and his whole cabinet as war criminals and be bi-partisian about it

This is not the time to spew hate and doom. We
all agree with the failure of this administration. Now
is the time for thought, sacrifice, and saving all that
is possible. We must rebuild this country, not by
force, but ingenuity, sacrifice and genuine apology
to all nations we have unjustifiably offended. We
need World Peace or get World obliteration.Pray
for leadership, true leadership for this country.

I am amazed that people actually think that the problems with our government lie solely with the President. I am not happy with the job that Bush is doing but I do know that he is not the only one to be blamed. You need to look at the job that your senators and representatives have done also. Get involved in your local politics and help make a difference and stop complaining about one person. Our country is in the mess it is because we elect people to follow the constititution that is supposed to protect us from government getting so big, then we turn our heads and ignore the fact that the people we have put in Congress don't do their job correctly.

The only bigger idiot than those who voted for this current president are those who voted the second time. They have spent the last three years trying to justify they made two mistakes in a row.

I love the way they always have to blame Bill Clinton some way or some how regardless of how big the blunder of the current white house dunce, they drag Bill Clinton into it.

So let's just get it out of the way...forget the increased jobs...low inflation great economy and most of all THE BALANCED BUDGET...let's instead focus on the end of his presidency and the recession we were heading into...It is acknowledged but how Bush mishandled it and that is why we are in the fix we are in. So get over Clinton...or let's just get it out of the way...Bill Clinton is responsible for the current problems...he is also responsible for all the economic problems of the past and will also be responsible for all the economic problems of the future. Right now this country could darn sure use a little bit of the way Bill Clinton handled the economy...you people who keep on hanging with this guy remind me of parents who always say...not my kid...he wouldn't screw up...well your kid is in the white house and what a mess he has made

There can be no doubt, GB is the worst of the worst. He has led us to the brink of bankruptcy and to the brink of disgrace to the rest of the world. Before him, we were the super power. What are we today ?? Chopped liver. I'm calling for his resignation. The American people deserve better. The children deserve better. I say to you GB, "Step down; let us get back our dignity and our pride in our country".

Americans are squeezed between outsourcing and illegal immigration. More than 50% of US companies including federal, state and local governments outsource production and services to India, China, Vietnam, Indonesia and other countries. Average pay of workers in these countries is between 10c and 35c an hour without any benefits. Americans can not compete with these workers. Illegal immigration created flood of chip labor from Mexico and South America. Illegal immigrants take away low pay jobs from Americans, receive free education, free medical services and free room and board in prisons. Americans lost millions of good jobs to chip foreign labor and lost hundreds of billions of dollars dealing with illegal immigrants. Is corrupted and incompetent American government capable to resolve these problems ?

we need a democrate in office

now the time to think for thirt party,not lib or cap

Bush & congress will bail out Wall Street , the investment bankers and the loan sharks. Just remember the American standard of living has not risen since 1974, in fact it has been in decline and now it is in the avalanche phase

The people at the top of the heap that pay to put these jerks in office will do it again in the near future.

Your standard of living is in the tank and yet the top 1% of income earners actually get $1.34 for every dollar they earn thanks to our tax system.

The voters keep allowing the top 1% to buy the presidency. Where do you think the hundreds of millions of dollars come from. It isn't from $100 donations from people in the middle class.

Hillary Clinton has more money in her election fund than the entire Domcratic National Committee. She is bought and paid for and yet the stupid people rant about her. The total stupidity of the American public never ceases to amaze me.

Bruce,
You are right on.............Loved your remarks

Let's get a few US Economics facts correct in this debate:

1. Industry and Banks drive this economy, not Washington DC. Decisions made by Industry and Banks affect how we all live, not the Reps or Dems.

2. Washington DC has never produced a product or a meaningful job. All they produce is "Unintended Consequences."

3. Washington encouraged (also known as political pressure) the banks and mortgage companies to expand home ownership to more Americans. What was the unintended consequence - traditional and stable mortgage lending practices were thrown off the bus and we got a whole series of "creative mortgages" - aka: "Junk Bond mortgages."

4. Individual Homeowners have an equal share of the blame. Whatever happened to the rule - don't invest in something you do not understand. What is about a mortgage that is charging less the interest you can get at a bank that doesn't tell the normal person that there are hidden costs that HE will pay. Nothing is ever free. If people bought a home without doing the pre-planning to determine they could make any and all payments, then they are part of the problem. I am sorry that they maybe foreclosed on, but they are suppose to be Adults, making the most important decision of their lives - buying a home. If they didn't take the time to do the budgeting and get advice, then they are guilty of the same mentality that has generated the credit card debt problem.

5. Individual and Corporate Investors share an equal share of the blames. CDOs are the "elephant in the living room" on this one. Investors (of all sorts) bought an advertised investment in which they could not realistically determine what they "actually owned" and then they re-sold them again and again. Anybody remember the numerous times we have had a "TimeShare Rental" bubble burst. Owning a fractional piece of something is akin to owning nothing.

6. Washington spending does not improve economic conditions. All it does is calm fears of the citizens in the short run. When you ask for Washington to "pay for something" or to "invest in something," always ask where are they getting this capital (aka money) from? Remember Fact 2 from above - Washington does not produce anything - they merely re-allocate capital from Industry, Investors, and Individuals to their current best idea, never thinking of the "unintended consequences."

7. Our current economy is a "consumer driven" economy. What does that mean - if the individual consumer stops spending, the gears of this economy start winding down quickly: less purchases = less production or products needed = less workers needed to produce the fewer products = layoffs & reduced tax collection = less spending by consumers and so on and so on.

Conclusions:
- All politicians are to blame because they feed the cycle of "No one is at fault."
- Consumers need to learn real economics and budgeting. If you have no money left at the end of the month - you are facing financial ruin - the only question is who, or what event will push you over that cliff. If you have no money left at the end of the month, how do you plan to handle all the "known-unknown" expenses of owning a house (broken pipes, increasing property taxes, recurring maintenance, etc.)
- Bankers need to get a firm grip on Ethics and Ethical practices. Consumers and Wall Street must insist that unethical practices such are these are punished - low of job, all stock options, all golden parachutes, and FUTURE EMPLOYMENT in the Industry. Clean House and keep it clean.
- Washington unfortunately needs to inject the capital into the Banks and Investments houses to fix this mess. If there is insufficient capital, then we face a serious correction and/or serious economic down-turn. Lack of capital = lack of cash to loan = lack of growth = decreasing markets = increasing loan requirements = less & less loans and higher interest rates on current/future loans, etc. etc. Remember the US is a consumer driven economy, unless the consumer can spend (responsibly we all hope), this economy will come to screaming stop.
- Lastly: Every American has a stake in this. That is, unless you wish to see your retirement plans (IRAs, 401ks, etc.), home equity, personal savings all vanish