As many of you probably don't know Minority House speaker John Boehner laid out his "economic plan". This involved calling for Obama to fire his economic advisors, extend Bush tax cuts to everybody rather than just the rich, challenging the old ways of Washington, and a few ideas to cut federal spending without and this is a big shocker.....going into detail of how to do that. In 2006 James Sherk wrote about how successful the tax cuts were, that Americans really do know how to spend their money much better than government, that there is no need for all those silly rules and regulations on big business. What I say is REALLY? Are we really that much better? What did it lead to? More savings by the American people or more "I need this. I need a bigger house to show off my wealth. I need more cars. I need more expensive clothes for my kids." ?? Let's face it, we didn't do much better. The housing crisis played a huge roll in this economic downward spiral people. People being stupid with their money and buying houses they couldn't afford caused this. Banks that were not properly regulated allowed people to get mortgages common sense would say a person couldn't afford. The result, mortgages went unpaid. Banks were stuck with over valued homes. So yes, while there may have been some job recovery during this so called growth period in 2003, it also was the beginning of very aggressive 'living beyond your means'.
I find it interesting that during the recession of 2001, the recession was excused away by Republicans at the time for being a result of the 9/11 terror attack, the tech bubble collapse and stagnant investment but when a significant recession that the Democrats inheirted, the recession is just blamed on the Democrats. Maybe just maybe this recession happened because of the housing market crash perpetuated by people overspending and lack of regulation in big business. Which party brought that on? The Republicans held the majority during almost all of Bush's years in office and what did they do? NOTHING. The so-called welfare state did not roll back at all, it actually increased people with the prescription drug plan!! No federal programs or departments were eliminated, they were actually increased with the invention of the all but useless Homeland Security department! People are delusional if they think things will change when midterm elections come up. The only thing that will change is more and more of wasting time debating and posturing.