Skip to comments.How Long can it all be Republicans fault??
Posted on 11/01/2009 7:05:40 AM PST by sickoflibs
Every president will blame the past one, either directly or indirectly (using media commentators or spokesmen.) And many times it is valid to do that. Most Americans agreed that G.W. Bush could not be (entirely) responsible for the successful Sept 11, 2001 attacks or the 2001 market crash. Much of what he had to work with his first nine months was left over from the Clinton administration. But liberals (progressives) to this day still say that the "September 11, 2001 attacks were on Bush's Watch" after only nine months in office and that Bush was left a booming economy by Clinton. Yet they also claim that this is not yet Obama's economy even now in October 2009, unless there is good news. Good news is always the Obama economy.
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In the case of Hoover, it was about 60 years.
as long as the democrat media keeps reporting it and fails to correct the lies put forth by this America killing Democrat administration
As long as it works for them.
60, that's a joke. The libtards are still blaming him.
"How Long can it all be Republicans fault?? The answer will be that : "It will always be republicans fault." No matter how bad things get, unemployment, deficits, inflation, health care rationing or prices under democrats. We will be told that "Things would have been even worse without Obama. We tried free markets and capitalism and it failed under republicans, now we will try socialism (never tried before apparently) and so far it is working fine."
Until there are no more Liberals
Some thoughts I had on the blame game.
It is going to work for a while, but not much longer. Hussein did walk into a mess so Americans have cut him some slack. But that will go away.
Not that it will slow Hussein’s blame game any.
It’s time to make the Democrats own this. It was their stimulus that was sold to us with rosy scenarios and sales pitch
But liberals (progressives) to this day still say that the “September 11, 2001 attacks were on Bush’s Watch” after only nine months in office and that Bush was left a booming economy by Clinton.
“It’s funny listening to David Axelrod lower expectations of the new incoming administration with all this talk of inheriting problems. Of course if you look back at the promises that were made we were told that Obama would just fix them for us.
Oh how things have changed since November of 2000. Obviously there’s a financial crisis, nobody is denying this. There was also a recession underway during 2000, that was warned about by the Bush administration (or Booosh administration as John Mellencamp says). Yes, those are the same warnings that were being criticized as:Talking down the economy. Today, we have Obama and others, saying this is the worst financial crisis since the Great Depression. The ONLY thing this crisis has been so far is the worst government interference with the economy since the Great Depression, no thanks to Bush and the Democrat Congress. Dot’ get me wrong, when the banking infastructure is breaking down this is similar to what happened back in the 1930’s. There is certainly a problem. However, this hasn’t been a Depression, far from it, yet. Heck, I even posted a youtube video portraying this possibility. Things are certainly going to get worse before they get better.
In the 1930’s, Unemployment reached 25%. Today it’s around 6.2%, and the worst states are Michigan and Rhode Island both at 9.3%. This is hardly close to the Depression standards. In fact, I don’t know anyone, ANYONE who stands in a soup line to get their lunch. Do you? I’d say if you do, chances are you’re homeless and reading this from a library.
So what’s my point? My point is; if this were Bush in the place of Obama he would be criticized by the media for talking down a recession into a depression. The first time Bush sat down behind the desk of the Oval Office we we’re in a mild recession. It was inherited (at really nobodies fault). Nobody on the left wanted to pay attention to that tiny little fact. It was: Bush’s fault simply because he was now the sitting President. The Corporate scandals that manifested in 2001 were all his fault because he was connected to Ken Lay. Never mind the fact, that there were TWO other companies that were in the same boat with Enron— Tyco and WorldCom. Nobody on the Left cared that these accounting irregularities began as far back as 1997, that didn’t matterBoosh was President.
If the problems with the economy are as bad as they say they’re going to be, then Obama will have a mess on his hands that will be: Obama’s fault. Oh yes, it will be his fault for simply sitting at the desk of the Oval Office. This was the same standard applied to Bush. Let’s have a run down of all the things that were his fault simply because he was President, with not asking why things really happened, or who else was involved:
The 2000-2001 Recession: never mind the first quarter of 2000 showed a huge decline in gdp.
The Corporate Scandals: never mind the numbers went back into the 90’s.
9-11: never mind the hand cuffing applied to the CIA and FBI by the Clinton admin, I guess Bush was supposed to clone himself 5 times so he could be at all four airport security checkpoints, while attempting to read a children’s book to elementary kids at the same time.
Katrina: (never mind the incompetent weeping governor and her emotional inability to call on the National Guard or the idiotic mayor who was too stupid to use all the school buses that ended up in 4 feet of water— but stupid Bush went ahead and blamed himself anyway.)
Gas prices/Price of Oil: (never mind the attempt to remove the offshore drilling ban that was filibustered by Democrats, the same ban that these bafoons let expire that contributed to the bottom falling out of the price of oil.)
The decision to go to war, lies about WMD (even though the Democrats voted to go as well, based on the same damn information).
The Housing bubble: never mind the CRA legislation that was the foundation to this mess, the same kind of legislation that allowed former attorney Barack Obama to sue Citi bank to continue to issue these kinds of loans.
None of this mattered, it was: Bush’s fault and Bush’s watch. So get ready for it, it’s now going to be: Obama’s watch and Obama’s fault. Oh and we should throw in, Obamanomics in for good measure.”
I slightly disagree with you, my friend.
Was telling someone tonight, this:
We’ve always known about this lib wet dream about national health care. We can’t claim it a surprise; they’ve been angling for it for nearly 75 years. What we should have done was enact it on OUR terms, while Bush was in the White House and we had control of both houses of Congress.
Just like was done with the Medicare thing, which is the only part of Medicare that came in UNDER budget, because it was run by the free market.
We have known for YEARS that the first time they had their first crack at power that they would try to pull this whole Obamacare thing. And we should have known that by the time they had the kind of numbers to bring it up, that we would be unable to stop it.
This Obama/Pelosicare is a failure of OUR leadership. We should have co-opted this issue from them, using common sense, conservative, free market principles and then forced Democrats to vote AGAINST IT.
We had a chance to screw them over, but help the nation...and we punted.
Until 4 Nov 2008 then 52% of STUPID Americans fell for this Halfrican, Communist BASTARD!
This BS about the CRA is nothing more than BS, it was attached to a bill written by republicans and 90% of the republicans voted for it. The banks wanted to make the damn loans, they were making about $9,000 a pop they thought they were above the laws of supply and demand. They would still be doing it if they had not run out of warm bodies to sign loan papers.
You certainly have your facts, bro!
Unfortunately, the libtards aren’t INTERESTED in TRUTH.
But you’re right on!
The Nasdaq crash began in March of 2000. When Bush took office it was down 40% off its peak and the trend was downward.
The CRA was the germ. But it laid dormant through 3 administrations until Clinton put it on steroids.
The price of oil is starting to rise. Who are they gonna blame this time, since it can’t be GWB.
Maybe the investment banks who have purchased tankers that are sitting offshore, full of oil, unwilling to unload at the docks until the price is right?
Those are Obama’s friends. Read market-ticker and you’ll find it.
Let’s see if the MSM investigates this use of our bailout money.
The Repubs had plenty to do with it. They didn’t stop the Freddie and Fannie Fraud, The Graham Leach bill was a Repub bill and they did nothing to clean up Wall St. fraud. Toss in the lack of oversight on what the banking and mortgage sector was doing and they have a lot of blood on their hands.
The beauty of the Two Party system is that voters always think it’s the other side’s fault. But they’re both culpable, and we’ll keep voting them in no matter what. I say lay back and enjoy it.
Considering that they're still blaming Herbert Hoover for the Great Depression, Joseph McCarthy for the Cold War, and Richard Nixon for everything else, I'd say it can continue to be the Republican's fault indefinitely.
To: firstname.lastname@example.orgBush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone... Dems Ignored Warnings
For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) 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 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.
The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001.
Unfortunately, Congress did not act on the president’s warnings:
April: The Administration’s FY02 budget declares that the size of Fannie Mae and Freddie Mac is “a potential problem,” because “financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity.”
May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)
January: Freddie Mac announces it has to restate financial results for the previous three years.
February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that “although investors perceive an implicit Federal guarantee of [GSE] obligations,” “the government has provided no explicit legal backing for them.” As a consequence, unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market. (”Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO,” OFHEO Report, 2/4/03)
September: Fannie Mae discloses SEC investigation and acknowledges OFHEO’s review found earnings manipulations.
September: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact “legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises” and set prudent and appropriate minimum capital adequacy requirements.
October: Fannie Mae discloses $1.2 billion accounting error.
November: Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any “legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk.” To reduce the potential for systemic instability, the regulator would have “broad authority to set both risk-based and minimum capital standards” and “receivership powers necessary to wind down the affairs of a troubled GSE.” (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)
February: The President’s FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: “The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore should be replaced with a new strengthened regulator.” (2005 Budget Analytic Perspectives, pg. 83)
February: CEA Chairman Mankiw cautions Congress to “not take [the financial market’s] strength for granted.” Again, the call from the Administration was to reduce this risk by “ensuring that the housing GSEs are overseen by an effective regulator.” (N. Gregory Mankiw, Op-Ed, “Keeping Fannie And Freddie’s House In Order,” Financial Times, 2/24/04)
June: Deputy Secretary of Treasury Samuel Bodman spotlights the risk posed by the GSEs and called for reform, saying “We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System.” (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)
April: Treasury Secretary John Snow repeats his call for GSE reform, saying “Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America Half-measures will only exacerbate the risks to our financial system.” (Secretary John W. Snow, “Testimony Before The U.S. House Financial Services Committee,” 4/13/05)
July: Two Bear Stearns hedge funds invested in mortgage securities collapse.
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying “first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options.” (President George W. Bush, Press Conference, The White House, 8/9/07)
September: RealtyTrac announces foreclosure filings up 243,000 in August up 115 percent from the year before.
September: Single-family existing home sales decreases 7.5 percent from the previous month the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying “These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I’ve called on Congress to pass legislation that strengthens independent regulation of the GSEs and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon.” (President George W. Bush, Discusses Housing, The White House, 12/6/07)
January: Bank of America announces it will buy Countrywide.
January: Citigroup announces mortgage portfolio lost $18.1 billion in value.
February: Assistant Secretary David Nason reiterates the urgency of reforms, says “A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully.” (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
March: Bear Stearns announces it will sell itself to JPMorgan Chase.
March: President Bush calls on Congress to take action and “move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages.” (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
April: President Bush urges Congress to pass the much needed legislation and “modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by helping people stay in their homes.” (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
“Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans.” (President George W. Bush, Radio Address, 5/3/08)
“[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that and Congress is making progress on this is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator.” (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
“Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans.” (President George W. Bush, Radio Address, 5/31/08)
June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying “we need to pass legislation to reform Fannie Mae and Freddie Mac.” (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
July: Congress heeds the President’s call for action and passes reform of Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
In 2005— Senator John McCain partnered with three other Senate Republicans to reform the governments involvement in lending.
Democrats blocked this reform, too.
More... Not only did democrats not act on these warnings but Barack Obama put one of the major Sub-Prime Slime players on his campaign as finance chairperson.
Don’t bother that poor chap whose email is listed. Not sure if he’s one of the characters on the forward list or what.
“This BS about the CRA is nothing more than BS, it was attached to a bill written by republicans and 90% of the republicans voted for it.”
Wrong. Further revisions to the CRA was attached to a bill written by Republicans.
Republicans played a role in this with the GLB-act. True. However, it was Clinton who refused to sign the GLB-act unless those institutions were subject to CRA-regulation.
CLINTON SIGNED IT. The whole point of my post was: how DEMOCRATS BLAMED BUSH.
Bush did ease some lending requirements later in ‘05 but at the same time they also did attempt some regulation on Fannie Mae. The bubble was already going to go either way.
CRA been around since 1977. Democrats controlled congress in 1977.
And Obama DID SUE based on those laws.
Come to New Jersey
Liberals will give Corslime a pass and blame all our problems on Christie Whitman even though she hasn’t been in office since 2001 and even though there was even 2 other Rat govs before Corslime.
Delusion is a powerful thing
Perpetuity. Why aren’t you used to it yet?
Thanks, sickoflibs! Mr MC & I were just discussing this very subject.
As are fiscal conservatives who don't like his bailout/spend-spend-spend policies.
It’s important to remember that much of the “regulation-loosening” that Clinton’s people lobbied for in the waning days of his administration (yes, a Republican congress with TONS of Democratic help) was due to this fact:
They (Clinton’s people) knew they were no longer at the gov’t teat. These changes paved the way to ensure they could earn vast sums of money (which they did) once in the private sector.
You’ll also note that they rolled back to the taxpayer teat the minute Obama won the election, so they could suck a little more from us.
My sweetie used to be a far left lib whackjob. It took me 3 years, but I straightened his ass out. He’s a pariah in Chicago, but now, he’s a true believer....and one of US.
Didn’t Obambi appoint Bush as the Blame Czar????
Okay...I haven’t heard people blame Hoover for the length.
I find it sadly amusing that FDR spoke out against Hoover’s gubmint spending—until he was in office himself.
Let us not forget that although it was setup by big spending Repubs and their Dem cohorts, the “Bush” economy didn’t fully go to crap until the Dems took over Congress in 2006. Then Bush helped them along with the socialist TARP economic “solution” he helped push through the willing Dem Congress.
I never said the dems played no part in this mess...
I think the “Bush’s fault” is now at the end of its useful life, if Republicans simply start pointing out the election was now one year ago.
That’s a milestone, which most everyone understands.
To blame Bush at this point is just plain silly.
But ... Republicans need to start saying that. People won’t realize it by themselves, and Dems (or the media) certainly won’t point it out.
“It’s already been ONE YEAR, since the election”.
Just say that, and make a face like you think liberals are silly.
Thank you for the ping. Fascinating question.
I don't know how long it'll be the fault of Republicans, but I can tell you this:
Until the Republicans come up with a cohesive plan to lead, and loudly voice a cohesive message of smaller government and less intervention, the childish blaming and name-calling by the Democrats will continue to be effective.
When the GOP embraces true fiscal conservatism, they'll be able to respond to the Democrats. Until then, they look like what they are: confused, mewling, spineless wimps.
We saw this last week when the GOP pours Heaven-knows how much money into Dede Scozzafava's coffers, all the while reassuring "the base" that she was conservative, and that they were the ones who were traitorous.
We saw prominent Republicans loudly whinging about the fact that a lot of conservatives were supporting the conservative in the race (fancy that, eh?).
Today, Dede Scozzafava has endorsed the Democrat and the GOP looks like a bunch of feckless imbeciles. It's easy to blame the guys who are always messing up, and that iss what the Democrats are doing.
As long as the GOP is constantly playing catch-up, is constantly confused, without a plan, and makes huge public mistakes in judgment and strategy, they are the Democrat's Whipping Boys.
So: How long will it last? As long as the Republicans maintain the public perception that they couldn't pour water out of a boot if the instructions were on the heel ( quote has been sanitized for your protection).
I wince whenever Hoover comes up.
The nation gave FDR 4 consecutive terms after Hoover, and FDR used his time to expand the role of the federal government in all directions.
Honestly, everyone who says that they GOP will win because the economy is terrible now must not have history books that go back to the mid-20th century.
In what may be a sign of the apocalypse, I agree 100%.
You’re so right.
I mean look who was running Fannie Mae!
Look who’s job it was to over see Fannie Mae!
RE :”Let us not forget that although it was setup by big spending Repubs and their Dem cohorts, the Bush economy didnt fully go to crap until the Dems took over Congress in 2006. Then Bush helped them along with the socialist TARP economic solution he helped push through the willing Dem Congress.”
I didnt want to get bogged down on the details in this specific post but we agree, plenty of blame to go around.
RE :”Didnt Obambi appoint Bush as the Blame Czar????’
LOL, I think you mean “Get all the blame” czar.
You are kidding right? The seeds of the collapse were sowed years before that. The eventual collapse (starting Fall 2007) was triggered by Berneke in 2006 with raising interest rates. The economy was a house of cards. Try :
Just saw this re-edited one which ends with passing TARP1: THE FED DID IT!!! Ron Paul & Peter Schiff Were Right!!!
As org.whodat put it perfectly, no coolaid. Our Bush butt kissers have given us enough of that.
Wait...that can't be! Just the other day, a noted Bush apologist, FReeper STARWISE, said publicly that Bush had been warning Congress about "the systemic risk posed by the GSEs" Fannie Mae and Freddie Mac, including during years when the Republican Party held control of both houses of the United States Congress.
In my reply (on that day) to STARWISE's comments, I wrote:
Bush faced a Republican controlled Congress from 2000 to the 2006 elections.
So, you have two choices (well, maybe three!): either Bush screwed up, Congress screwed up, or both. In all three cases, Republicans screwed up. And, irrespective, Bush still signed the TARP bailout bill into law.
One could counter such choices (but not the cold, hard reality of Bush's signature on the TARP bailout bill) by attempting to deflect blame onto the Democrats, but such buck-passing would appear as silly as anything the Democrats are saying today.
My reply stands. Someone here (and it's not sickoflibs, bamahead, or myself) is NOT telling the truth or is otherwise grossly misinformed on this matter. While the Democrats' role in orchestrating the present financial crisis can not be emphasized enough, it should be noted, for the sake of completeness and for intellectual and political honesty, and to avoid the appearance of an attempt to "whitewash" the Republican record, that the Republican Party leadership was a willing participant, and an integral accessory, to the perpetration of the present financial crisis, and as such, is at best, partially culpable for the present financial crisis, and at worst, wholly culpable--as it is the Republican Party and not the Democrat Party that claims to speak for free markets--and worthy of being tossed into the dustbin to join its Whiggish predecessor.
Remember, fascism is only acceptable when the RINO Party is at the helm!
After all, Bush kept
the trains running on time us safe! /bleats like a sheep
Speaking of Bush apologists. Here is an example I posted of a talk radio neo-con Bush defender’s (Mark Levin) view of the economy in May 2007. In comparision I posted Peter Schiff’s writing from that same month. Since then Levin has changed his tune, like all Bush defenders had too.
“ One warns us of the phony debt economy and the coming crash(Schiff). The other tells us we will be sorry because we didn’t appreciate the great Bush economy and minority homeownership that Bush accomplished(Levin). “
Growth is in the Eye of the Beholder May 04, 2007 by Peter Schiff
The speech George W Bush SHOULD give (by Mark Levin on his Radio Show) May 10, 2007. Filed under Mark Levin Audio
Dr. Paul’s Excellent Speech Before The House
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