Wednesday, December 03, 2008

Republicans and the economic crisis

During the campaign I was always puzzled as to why the Republicans did not launch and all out massive assault against the Democrats for causing the economic crisis. After all, we had Democrats on tape denying there was any problem with Fannie Mae and Freddie Mac! We had proof that Democrats blocked attempts to reign in Fannie and Freddie and we had Republicans on tape arguing for a crackdown on Fannie Mae and Freddie Mac.

It turns out that although some Republicans, warned about the economic crisis and tried to do something about it, others--including some in the Bush administration--may have been just a guilty as the Democrats! I suspect that is why Republicans were not as hard on the Democrats as they might have been.

2 comments:

Kevin said...

It's a lot harder to sell a struggling/failing war (at the time) and tax cuts for the middle class with the benefit of an artificially inflated economy. Whether or not it's the right thing to do... speculative economic warnings are easier to ignore when you don't want to hear about them.

Kevin said...

That should be "without the benefit of an artificially inflated economy."