Quote:
Originally Posted by Pooka
The debt to GDP ratio in 1946 was 118%. During the last years of Bush's administration the debt to GDP ratio was 84%.
The US pulled through both of those with no Depression.
And don't forget, the entire economy started to contract just after Jan of 2007. Remember? That's when the housing bubble began to unwind.
To blame something as complex as the economy on one political party or another is truly something only a Conservative would think is intelligent. But then, it sure beats trying to understand what's really going on.
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I am not blaming on one party or the other only pointing out s few facts. One of the other little tidbits is that any policy put in place to "help" an economy in the short term normally doesnt rear the ramifications until 8 to 10 years later.
Community redevelpment act is one that come to mind. It was expanded under Clinton to ensure that banks would no longer be able to require a strict down payment, or proof of income. Ten years later was the mid 2000's and what happened? The housing bubble........