Not completely by himself.Those greedy ass banks played their part in it as well.If they weren't ****ing around with people's 401k,bank accounts,and **** like that,we wouldn't have this problem.Not to mention all the outsourcing being done by other greedy ass companies leaving the job market oversaturated,resulting in teenagers & college students having to compete for jobs at Mc-****ing-Donald's with ex factory workers.
George Bush was one of the WORST presidents of the last 20 years IMO,but you can't blame him alone when there's many greedy,money hungry businesspeople just as responsible.
It was going to fall since the Clinton administration. First American citizens don't save money, they also took out more loans than they could pay back. When the housing bubble burst Americans lost home, and creditors lost money. This affects everything else, America is a consumer economy, when people smell something is wrong they don't spend. This had nothing to do with Bush, it was going to happen anyway. Also you have to remember, America always goes through a boom and bust. Its a constant cycle. Then you have to remember the student loans, and the corruption on Wall St. It was crap that was under the President. The economy was falling as soon as 9/11 took place.
Also, if you save money, you can stimulate the economy. America is a consumer economy, if people save too much, no one is buying. If people spend too much, and don't save this affects the economy too. Because people have to get money from somewhere, and here comes to loans.
No, not solely George Bush. The President doesn't have that much power. Although, he certainly didn't do much to stop it from collapsing. The crash in 2008 was imminent by the time he left office.
His biggest blunders were probably allowing Halliburton (an oil company) to work on no-bid no budget contracts, as well as not vetoing any of the gigantic congressional spending bills while he was in office...
No. He definitely didn't help anything, but you can't blame only him. It's a long, complex line of events that lead to the destruction of the US economy.
The US economy is NOT destroyed. If it were, it would be worse than a Depression, and the WHOLE world would be in chaos because every country is connected. This is called Globalization.
His decisions weren't always wise, but there were signs that the economy would crash even before he took office. He definitely wasn't the sole contributing factor.
And he is NOT the worst president in U.S. history. We've had much over the years.
