President Barack Obama attacked the economic policies of his Republican predecessor George W. Bush in Bush's home state on Monday as evidence of the way Republicans would operate if given power in November 2 U.S. congressional elections. At a fund-raising event for Democrats in Dallas, where Bush now lives, Obama said the former president's "disastrous" policies had driven the U.S. economy into the ground and turned budget surpluses into deficits.
Obama defended his repeated references to Bush's policies, saying they were necessary to remind Americans of the weak economy he inherited from Bush in January 2009.
"The policies that crashed the economy, that undercut the middle class, that mortgaged our future, do we really want to go back to that, or do we keep moving our country forward?" Obama said at another fund-raising event in Austin, referring to Bush's eight years as president.
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This is fraudulent BS. What crashed the economy was the Democrat housing policy of requiring lenders to fund loans to people who could not afford them. Those loans wormed their way into the financial system and caused the credit markets to seize up. So far the Obama administration has done nothing to fix the broken housing finance system and has in fact persisted in the old policy of loaning money to people who can not afford the the loans. Obama has done nothing to fix the mess at Fannie and Freddie that facilitated the financial debacle.
It is passed time for Republicans to attack Obama on this issue and prosecute the case against his fraudulent view of history.
President Bush has too much class to get into a debate with Obama. Obama knows this which makes his bogus attacks cowardly.
