From this article on President Obama’s speech:
Point by point, the president listed the Bush-era economic and policy choices — embraced by Mr. Romney and Congressional Republicans — that he said had led to the recession of 2008 and 2009: tax cuts for the wealthy, deregulation, spending on the wars in Iraq and Afghanistan that was added to the deficit.
Some Bush-era public policy choices deserve some blame for the recession, but not these. I can’t imagine that even his leftist economics team buys that.
Spreading the dream of home ownership by sanctioning Fannie and Freddie to invest in future bailouts and spitting cash out of the Fed would be the proper policies to blame.
And, I can’t end the post without acknowledging that the ‘tax cut for the wealthy’ was not an actual policy. That’s what leftists call an across-the-board tax cut in their preferred system of progressive taxation. They want it both ways.
Here’s the decoded version of Obama’s speech:
Do the issues that worked like a charm in 2008 still have any miles left?