The Bush presidency major reason for recession?

im doing a english paper on this topic and wanted your opinions and facts.........."The Bush presidency is major reason why the United States is facing a recession. Suggest logical reasoning for your position."................................. and wanted your opinions and facts

The Bush presidency major reason for recession?
Well it certainly sounds like whoever chose the title of the paper has made his or her opinion loud and clear.





Because the country wasn't already in financial turmoil before Bush was in office or anything... Bush had to try and clean up after the huge mess Clinton left. Also forgot that the Senate and Congress are mainly Democratic. Do you recall the checks and balances system? Bush doesn't make all the rules, nor Congress nor the Senate. Bush is the scapegoat, not everything is his fault. The sad catch is iff Bush were to veto everything then Congress and the Senate would not support him either. Give and take, sometimes the hands are tied.





If you read Fortune 500, the Wall Street Journal, other financial publications or watch various financial media on television you would know that we are not (yet) in a recession. Remember the media is all about focusing on the negative stuff. Never do they focus on the hopeful prospects. I have seen plenty of optimistic changes in the business world (investment, expanding the workforce, etc).





HOWEVER, for Americans that live in the middle class it's an entirely different story. Plenty of job losses, increase in health care costs, taxes, the housing market is out of control, interest rates (specifically for lower to middle class families) are insane, and the price of oil...good gosh.





There is no reason for oil to be the price it is today. People attribute it to the war in Iraq and/or inflation but those are excuses, distractions really, to raise prices. All we're doing is making the rich son of a guns who deal in oil that much richer. Yes, legislature needs to be put in place to control oil but we cannot always control international trade. Still we need legislature to intervene *sound of crickets waiting for support from the Senate and Congress*.





I think what we are seeing happen is that the years of being underpaid and overly taxed are catching up to the lower and middle class. Credit card companies literally prey on these families, suckering them with high credit availability and suddenly changing the interest rates so that people can barely meet the minimum. What happens? Well the bills increase of course. It's a vicious cycle. By people only making the minimum payments they aren't paying off all of the principal from the interest rates therefore the bills steadily increase. They end up in deeper debt and I think you get the picture. Again we need legislature to intervene...but...see above.





Think about the cost of gas. For someone who is blessed to not have to live a lower or middle class lifestyle filling up the car with $50 worth of gas is no big deal. Yet, think about the mom who earns minimum wage and has children to feed- $50 is A LOT of money to take away. Wow, the tax on gas is huge- why in the world would Democrats reduce this money maker??





Healthcare costs. Premiums are so high people are not able to afford it, or, they pay high premiums for minimal health care coverage. It's not just the fault of the companies they work for, it's also the greed of the insurance companies. Again..legislature...





Interest rates. The housing market is at a stand still right now. The government is trying by reducing the prime interest rate and by offering tax relief but that is just scratching the surface. Bush's presidency will end; the relief he is trying to put into place will only last so long, do you really thing the Democrats can or will do better? Don't be deceived, they are coming for our wallets and unfortunately the middle class pays first.





Really, the lower and middle class are suffering and who gets the blame? Bush and the Republicans when in fact several Democratic programs which REQUIRE an increase in taxes have only fueled the turmoil. The very programs that were supposedly put in place to help people in the low and middle classes have back fired and our costing them MORE.





Democrats greatly INCREASE taxes in deceitful ways. They sugar coat things with "better this program" "better that program" "relief to the hard working Americans" yet when that paycheck comes people's eyes nearly pop out at the increase in taxes. What do you expect? How do you think the Democratic government is going to pay for all of these "better" programs? Your tax dollars!





The common myth is that the Democrats fight for the middle class but that's a crock. They are nothing but big talkers yet when it all comes down to it they increases taxes for everyone and guess who suffers the most? The middle class! Yet still the Republicans get blamed. "You took away this that and the other thing." Well, those were the programs that the Democrats put into place in order to tax you...the programs obviously failed so they're made obsolete. Look at that, less taxes deducted.





What's going to happen if a Democrat is elected into office- how is the tax formulation going to change? Oh yes, it's going to change very soon. How about in 2010 when Bush's tax cuts expire. I'm telling you this right now, the Democrats WON'T continue them. The Dems WILL increase them and hold onto your hats because the ride is going to get bumpy.





See, Democrats put on a good song and dance but when it comes down to the wire, they go after the very people they said they were fighting for.





Lastly, the myth I'm sure you've heard about "the rich don't pay as much as the poor" is a CROCK too. Have you ever looked at a tax table? Have you noticed the percentage increase as the salaries increase? All these lies about the upper classes finding ways to cheat the taxes and getting money back are nothing but lies. Have you ever sat down with someone who earns a 6 figure income and see the look of horror on his or her face when they realize the taxes they OWE? Where is their relief? Not that much. Why do you think that the tax relief that Bush put into place caters people of a specific income class? Over $150K and no one sees a penny, but you bet your bottom dollar they are still going to owe plenty on their taxes. Don't get me wrong I'm all for the economic stimulus, I am. I also want you to see that no matter which side of the fence you are in, there's still dirt and there's still grass.





As for the continual battle about "big corporations" and tax loopholes and all this other media filled frenzied stuff and the fantasies that Hollywood feed...is that really the fault of the government or is that reall the issue of greedy men and women, regardless of political standing? Hmmm, I'll take the latter too.





I hope this helps. Good luck on your paper. Hopefully your teacher grades fairly and not based on his or her own bias.





Try this:


http://twitter.com/CostOfDemocrats
Reply:Their is a looming recession, it hasn't happened yet, but probably will. Anyway, the major cause is the housing market, and it actually mostly happened under Clinton's watch via Greenspan. Greenspan repeatedly promised it wouldn't be a problem, and just after he stepped down it fell apart. Most of the loans were made while Clinton was president, Clinton was pushing for home ownership of the lower class, and he did bring it up..... only to have it come crashing back down.





http://www.marketoracle.co.uk/Article383...
Reply:Bush has spent most of his presidency prosecuting and ill concieved war and little time paying attention to domestic issues. While corporate America has reaped huge profits, like Exxon/Mobil with it's record profits for any corporation ever; they have done so through outsourcing and on the backs of the American consumer, who is also paying record prices for gasoline and oil.





Of course Bush and Cheney have long ties to big oil, so they have done nothing to control these profits or prices.





The auto industry is hurting due to outsourcing, as is the manufacturingsector in general.





This is a crisis largely ignored by a president who has always had great wealth and never known what it is like to live from paycheck to paycheck as most Amicans do.





Additionally the administration bails out big banks, while leaving the consumers to fend for themselves.





Mortage foreclosures were up 57% last month alone.


http://money.cnn.com/2008/04/15/real_est...





This administration still offers nothing real to help consumers. The Senate and house are considering legislation, but the President may well veto anything they come up with, as he has most legislation sent to him by the democrats.





The tax rebates are considered by most economists as too little and too late to help the failing economy.





This recession is now underway in many areas of our country and will hit the entire nation probably in summer. Oil prices which have driven inflation of all good and especially food items has hit at a time when outsourcing has led to layoffs and the American people are being hit with a double whammy recession.





This is Bush's recession for sure.





Hope this helps.
Reply:Wrong on both counts. The recession has not het hit. Also, the Bush Presidency has little to do with wjhether we are in a recession.
Reply:There is no recession.