OK, Guys! Let me say something here!
The President can only propose a budget, and gives it to the Congress. The Congress then takes it and drop it in the trash can!
They write their budget and gives it to the President for his approval or veto. They give the budget at the VERY LAST MINUTE of the Fiscal Year!
Now if the President vetoes the budget, he shuts down the Federal Government! What choice does he have? Shutting down the Government would cause a major disruption in the economy!
That’s the game the DIMS has been playing!
So Bush has to sign the budget and release it. He has to spend every penny of it. He cannot impound or hold back! That’s the Federal Law!
As for the Fanny Mae and Freddy Mac, they were in serious trouble since early 2000’s and Bush knows it. In fact, he gave the Congress warnings 14 times in his 8 years term. Nobody listened. Even Baawney said there is no problem!
The President has to keep it quiet from the public as not to create a panic.
Somebody or something moved 500 Billions from the Stock Market in an hour in 2008 and caused a financial collapse in our economy! So far to date, nobody knows who did it!
I don’t always agree with Bush on everything but he didn’t do a bad job as a President.
Bush would be a hellova better than the one we have now!
He’s not a bad man. Just not an effective President.
He rammed through tax cuts and big spending increases.
This is not exactly a profile in courage.
“Somebody or something moved 500 Billions from the Stock Market in an hour in 2008 and caused a financial collapse in our economy! So far to date, nobody knows who did it!”
Try looking up “money market fund” + “broke the buck” and your grand mystery will disappear.
Lehman failed on Sept 16 and that caused Reserve Primary Fund to break the buck. Fiduciaries have to protect their clients and they bailed out of Reserve Primary. There was a run on all money market funds. Money market funds had 3.5 trillion dollars in them at the start of all this, and a 500 billion swing is possible in a widespread panic.