glad to see that these are opinions only,cause the FACTS are definitely the opposite.
OK how about THESE FACTS!!!
1) $5 trillion was LOST in the dot.com bust that bubbled under Bubba!
GUESS WHAT?? That is a tax write off meaning starting in 2002 over $166 billion was not
collected as federal revenue! $166 billion!
2) $2 trillion from a minor event that happened
9/11/2001! and it cost
hundreds of thousands of JOBS, 18,000 businesses.. remember airlines didn't fly for 3 days???
That after 2003 added another $66 billion in REVENUE that wasn't paid to Federal govt.. now $233 billion!
3) Oh obviously you forgot... THE WORST HURRICANE SEASONS!!!! happened 2003 to 2008 another $1 trillion!
So you THESE facts that Bush's budgets did NOT get the revenues projected because of EVENTS not planned nor under HIS control! $266 billion a year for the last 9 years (2002 to 2011) almost $1.9 trillion UNcollected Federal Revenue!
WHY don't people like you recognize that?
YET you blame Bush for these events because YOU seem to forget them!
Finally YOU tell me Bush caused the housing collapse?
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems. Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."..
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie
Mae," New York Times, 9/11/03)
* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)
