It's No Longer Bush's Fault

It is hard to believe that, well into Barack H. Obama's first term, he and his top officials, and their Democrat counterparts in the congressional leadership, are still blaming George W. Bush for the economic woes Americans are still experiencing.   

The president, while putting great pressure on congressional Democrats to pass his trillion dollar (with interest) stimulus bill shortly after he was inaugurated, warned that the unemployment rate  --  which was 7.7% when he became president  --  would go above 8% if the Democrat-controlled Congress did not pass his stimulus bill.  So, most of the "moderate" Democrats joined over 200 left-wing Democrats in the House  --  with no Republicans supporting the bill  --  and passed Obama's stimulus bill.  In the Senate, 3 liberal Republicans joined most of the Democrat Senators in supporting the stimulus legislation.  

The result?  Unemployment has not only gone above the 8% rate which Obama threatened it would if his bill was not passed, but the unemployment rate has averaged over 10% for months.  Most economists believe that the unemployement rate will actually average between 10% and 10.2% in 2010.  The expected unemployment rate in 2011  --  clearly due to Obama's gigantic government spending  --  is projected by the Obama administration to average 9.2%.  So much for the president's dire prediction that the rate would go above 8% if his stimulus bill was not passed.  Unemployment has gotten far worse as a result of Obama's big government solutions and programs.  

Yet, Obama and his top officials are blaming the Bush administration for the plight in which they now find themselves.  President Bush's unemployment rate during his last year in office (2008) averaged 5.8%.  Today's "The Washington Times" reported that the chairman of the White House Council of Economic Advisers, Christina Romer, said:  "The economic challenges in many ways have never been greater."   

Christina Romer lamented the "terrible" economic and financial crisis which the Obama administration inherited from the Bush administration.  She, other Obama officials, and their president have been projecting blame for their economic mess on President Bush for months now.   

Like Barack Obama, Christina Romer in January 2009, predicted that a $775 billion stimulus bill would prevent the unemployment rate from rising above 8 percent.  Instead of doing what Presidents John F. Kennedy and Ronald W. Reagan did  --  cutting taxes across the board, including capital gains taxes  --  the Obama administration chose to try to spend their way out of their recession, and it has resoundingly backfired against them.  

It is time for the Obama administration to quit blaming Bush and adopt John F. Kennedy/Ronald Reagan-like economic policies, and indeed make permanent the highly successful tax cuts which Obama's predecessor put into effect in 2001 and 2003.  Bush's economic downfall was due to huge government spending and government interference in America's economy such as the liberal lending policies by the semi-government housing agencies, Freddie Mac and Freddie Mae, demanded by the newly-elected Democrat-controlled Congress in 2007.  Obama and his congressional leaders have noone to blame but themselves.

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