Is Bush to Blame for the Economy?

In fairness, Bush, like all presidents, does not deserve all the blame (or credit) for the economy's performance under his watch. But he turned a blind eye to the mounting evidence of an economic crisis.

Dean Baker | February 25, 2008

Last summer, President Bush told the American people that "the American economy is the envy of the world." He continued, "The fundamentals of our economy are strong. ... Job creation is strong. Real after-tax wages are on the rise. Inflation is low." None of this was exactly true then, but it is certainly not true now. When President Bush signed the stimulus package he finally acknowledged what the rest of us already knew: The economy is in real trouble. The collapse of the housing bubble is throwing the economy into a recession, and quite possibly a very severe recession. For most workers this means that the economic situation is about to go from bad to worse.