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Cause of the collapse

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Posted: February 3, 2012 - 3:27pm

What caused the economic downturn we are now experiencing? When I ask that question the answers I normally get are 1) the housing bubble collapse, 2) the near collapse of our banking system, or 3) the failed policies of the Bush administration. These answers are what the liberal media would like you to believe. If you hear this over and over again unchallenged, voters tend to believe it. The first two answers are the result of what happened, the third answer could have caused the recession.But, look at the facts. When President Bush entered office our country was in a recession as a result of the .com bubble collapse. His administration’s policies, even after 9/11, led our nation out of a recession into a period of growth. From 2001-2006 seven million jobs were created, tax receipts into the treasury set records, and the unemployment rates were at historic lows.

What changed? The 2006 elections. Because of the anti-war sentiment the Democrats took control of the House and Senate. The new tone in Washington, coming from Nancy Pelosi and Harry Reid, signaled a new era of big government. National health care, carbon taxes, cap and trade, value added taxes, and increased regulations frightened corporate America. Not knowing what the future business climate would bring businesses tightened their belts, stopped hiring, and began laying off employees. Laid off workers unable to find other employment, stopped spending and eventually quit making their mortgage payments. This started the snowball rolling down the hill and the recession started.

Because of the current business environment companies are sitting on $2 billion. To put this money to work Washington must change! We need to get back to a pro-growth, pro-business environment so we can begin creating jobs and get this country back to work.

Denny Bollig

Brainerd

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rolflindy
86
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rolflindy 02/04/12 - 03:57 am
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0

A bridge for sale

Anyone who thinks the world's businesses changed direction and closed shop because they were scared of Nancy Pelosi would probably be interested in this bridge I've got for sale in Brooklyn.
Bush inherited a big surplus from Clinton. Then he passed a trillion dollar tax cut and started a trillion dollar war on fake information. That dug the biggest budget hole in history.
I will even throw in the toll booths for Denny.

Cheyenne43
52
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Cheyenne43 02/04/12 - 08:35 pm
0
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The wing-nut propaganda machine

has done a good job of brain-washing these boys, hasn't it?

pdnet15
765
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pdnet15 02/05/12 - 09:55 am
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According to snopes

Clinton took office with a total debt of $4.1 billion and left with $5.7 billion. Hardly a surplus! And while I won't disagree with you that Bush ran up the deficit, to say that Obama has not done the same in less time than Bush and to continually blame Bush from 3+ years ago, is childish and reckless. If you like Obama, then vote for him. I would rather have an American who wants to improve America, not reinvent it!

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