However this is the result of bush Deregulating wall street and banks. Presidents have the power to regulate and deregulate.

So this is clearly a direct result of bush's actions and why we crashed so hard.

Or should I say the power to not enforce regulations.

Damn that George Bush for repealing Glass-Steagall!

I fully blame Clinton for that and it was also a republican congress bill that did that. President can only choose to not enforce regulations. Yes glass steagal was removed and under GOP control of congress. clinton should have vetoed the bill.

I do find it interesting that from 1992 to 2000 the improved federal finances are credited to Bill Clinton, and from 2000 to 2008 the poor federal finances are blamed on George W. Bush, by the same people who now want to distance Obama from the state of federal finances.

The truth is that the senate, congress and president all have a hand in the finances of the country because nothing can be done without their co-operation. Tomorrow the house could propose a bill that would put the finances of the federal government in order but unless it passes the senate and the president signs the bill it is worthless.

If Obama was a good president he would (essentially) refuse to sign any bills until their was a proper budget passed, and he would demand that the deficit be reduce in this budget bill to a certain level and let the house and senate figure out how they were going to do it.

Why on Earth would he veto the repeal of the Glass-Steagall Act when he had supported its repeal for years?

Oh, and let Billy tell you who deserves credit for the subprime mortgage crisis:

I agree but the tea party is bat-sh-t nuts and was started by billionaire Koch brothers. . A few weeks ago, former Reagan and George W. Bush adviser, Bruce Bartlett lashed out at his Party (which he has now been excommunicated from) saying, “The Republican Party was the Party of ideas and now it’s the Party of crazy people, ignorant Tea Party people – people who know nothing and are proud of it.”

http://truth-out.org/opinion/item/13581-republicans-are-the-ruling-party-of-billionaire-istan

Never said I liked clinton, He was a massive shift to the right for the democrates and lot of the party was pissed about that.

Then why, as badgenome said, did you post a graph of presidents? You're clueless.

That graph extends to 2008, 2008 is the Year the Democratic party took control of both the house and senate. Notice the huge spike? The Democratic party didn't relinquish control of either house of congress until 10/2010 when they split control in the House, and then the House control went to Republicans in 10/2011.

2007 deficit (for comparison - last year of house and senate split) - $500 billion

2008 deficit (first year of full control for Democrats in the House and Senate) - $1 trillion

2009 deficit (Democratic majority in the house and senate continues) - $1.8 trillion

2010 deficit (Democratic majority in the house and senate continues)  - $1.6 trillion

2011 deficit (Democratic majority in the Senate, split House) - $1.2 trillion

2012 deficit (Democratic majority in the Senate, split House) - $1.2 trillion

It is abundantly clear which party is responsible in Congress for the reckless spending.

Yeah, I can tell how pissed off they are whenever they publicly blow him like they did at the DNC.

Well when it was happening they where not so happy. Now people love him because the economy was booming from .com bubble. People don't look into sh-t very well but yes you are right people make me sick how much they suck him off.