How the US economy got into the mess it’s in now
Posted by Stephen Cline on March 21st, 2010The US economy is quite in the doldrums right now. Note since the Great Depression have things been so bad for the US economy and the American people. Well, we live in a civilized country, but if such things and such mistakes had been made in a less civilized nation, the national leaders could have been stoned or lynched. A lot of people think that President Obama’s policies have been at the center stage of the debacle, but poor thing, President Obama is just a new kid on the block. It is the policies and the fuzzy thinking of George W Bush and his policies that have got us into such a mess.
For one, there was no proper regulation of the financial system. Large companies could get away with the financial equivalent of murder most foul and not be made to pay up at all. The tax system was lopsided which allowed the rich to pay fewer taxes and become much richer due to the unfair concentration of wealth in the hands of a few. The Medicare system was just allowed to runaway with unimaginable monstrosities and the US economy got into the sorry pass that it finds itself mired in for so long now.
Tags: mess, US economy