TheRealMafoo on 13 October 2008
| MikeB said: @ TheRealMafoo Bush did a worse job as president then Clinton, there is no question. The Government is worse off due to Bush. But Clinton, in an attempted to stop the growing gap of rich vs poor, tried to grow wealth for the poor with sub prime lending. H[ I don't quite agree with your perspective. Bill Clinton left office leaving the country in a supremely healthy state. The bulk of those defaulting on their mortgages are the ones who bought houses after he left office. The Bush administration turned huge surpluses into amazing debts, the general market is in a bad shape. It's the government's responsibility to act accordingly. Clinton did his best to improve things by using resources which were readily available at the time. Due to bad policies the economy weakened, the Bush administrated failed to react on this and made matters even far worse. It's all about timing, adapt to the current state of affairs. IMO it is impossible to blame an ex-president from a decade ago for problems created in recent years by the Bush administration. For example if I have 1 million in cash and you have nothing, it's OK for me to lent you a couple of thousand bucks. But if I lent 1 million to other people and need to lent money myself to lent you some money, that's a very stupid concept. Times change and you will have to adapt to new situations, which clearly the Bush administration failed to do. They leave a lot of a mess for any new government to fix and it will be hard. |
I only said Clinton did these things, because he said he did.
http://www.youtube.com/watch?v=VCSZakjyVsI
The question is at 3:19.
