W’s wars and his failure to arrange to pay for them aside, his two biggest financial blunders—excuse me, I mean accomplishments—were (1) letting Phil Gramm whisper policy into his ear, and (2) agreeing to sign Gramm’s idea allowing the 5 largest US investment banks (Lehman, Gold Sax, Morg Stan, Merrill Lynch, Bear Sterns) to reclassify themselves as bank and to take the lid off of their leverage ratios. All 5 IBs either went bankrupt or required billions in bail-outs. Should we also mention the wonderful energy policy that Cheney & W crafted?
My favorite, of course, is his 2001 and 2003 tax cuts. S&P 200 firms have more than 2 TRILIION IN CASH accumulated, and the tax cuts have had more than 8 years to create the jobs W said would be created. Oops!
Great points dwillis. The tax cuts were needed so " the jobs creators " would create jobs. Never mind only demand creates jobs. And now they have dropped that pointless argument and settled on " class warfare". I can understand (repulsed, but understand) why the rich want to keep every last dime and stick the tax payers with the bill. But I cannot understand these fox news moron viewers who are being harmed by GOP policy,and yet defend it.
Will we ever forget Bush , ever the propagandist, reading a school book to first graders in Texas when then news of a plane crashing into one of the twin towers was announced. After giving the messenger a "what the F does this mean" look, he resumed reading. Finally, after the messenger reported to him that the second tower was hit and hi jackers were all over our skies, he ran for his plane...where he circled around til the coast was clear. Let's not also forget his quick work with "Brownie" during Katrina. Or his fly in to an aircraft carrier , to announce MISSION ACCOMPLISHED a few months into a ten year war. Yes, ole dubya was a pistol. His Coast Guard duty performed from his backyard. His multiple recessions and the housing bubble. His invasion of a foreign country by mistake. HEY, just talkin about all this make me want to vote Republican just as soon as I can. Maybe one of the open primaries?