Friday, October 31, 2008

Obama Blames Deregulation for the Sub-Prime Disaster

Here is what Obama said, "Now, we also have to recognize that this is a final verdict on eight years of failed economic policies promoted by George Bush and John McCain, (Biden was in Congress adding fuel to the fire) a theory that we can shred regulations and consumer protection and give more and more to the most, and somehow prosperity will trickle down."

In a later debate, Obama said "I believe this if a final verdict on the failed economic policies of the last eight years...that essentially said that we should strip away regulations, let the market run wild, and prosperity would rain down on all of us."

Proof again that Obama is a "packaged piece of Democrat double talk". The truth is that the Bush administration set an all time record in 2004, when it published more than 75.000 pages of proposed and enacted regulatory rules in the Federal Register. When it comes to spending on regulatory agencies, Bush is almost in a class by himself, with an increase of almost 68% during his two terms. In constant dollars the Bush regulatory budget increases vastly exceed those of his predecessors from Clinton to Lyndon Johnson.

Bush's staggering 2003 increase of more than 24% was the largest in the last 50 years. If Obama considers this a record of deregulation--and if current polls hold--America's economy could be in for a very long 4 years.

Excess regulatory drove much business and capital from our shores. Unless the puppets pulling the strings can restrict Obama from most major economic decisions and keep him busy with his "socialist reform" agenda this country will be in very deep trouble come January, 2009.

That the Bush Administration and the Congress's that harnessed, supported and screwed up a great deal of us and who some think is 6 years (2 years of Democrat control of congress) was a political body that propelled us into a better world is certainly going to be debated for years to come.

Personally, I am glad to see him go but dread the future even moseso I Obama is elected president.

No comments: