How is it possible that George Bush brought us to a recession?

Answer by  malone (4817)

Clinton's push to allow people with no credit, no money and no fiscal sense to buy homes is what started it and in the end, finished it. The housing market started to cave in while Bush was still in office, but Clinton is absolutely to blame.

Answer by  Roland27 (16334)

Not one person can be blamed for the recession. I think it was a lot of the decisions from the past and present, not just Bush that trigger this downfall.

Answer by  Lynore (191)

I think your looking in the wrong place, you need to check out the Federal Reserve Bank, check out a movie online called "Monopoly Men", it's an excellent and very informative film explaining how the US is owned by foreign bankers who manipulate all the money thereby causing recessions, depressions.

Answer by  Turkwork (1150)

He obviously made some economic policy decisions that did not turn out as expected because no one would plan to have a recession. But it is also important to understand that some things that happen in our economy are beyond the control of the president. Poor economic advice from his economic advisors is probably the number one factor.

Answer by  Spock (261)

Well, under his watch, taxes were cut, government spending was increased, and the financial industry was largely deregulated. This deregulation allowed new, complicated financial vehicles like mortgage-backed securities and credit default swaps, which turned out to be worthless. This isn't all Bush's fault, but he certainly helped.

Answer by  BrianSJ (524)

Business cycles tend to last for six to eight years, so it was likely that a recession would occur under a two-term President. (Bill Clinton is the only two-term president never to have a recession or depression during his terms. ) Measures taken to make homes more affordable resulted in unstable mortgages, and the defaults triggered more defaults and the recession.