Tag Archives: china loans

Bush Experts-It’s Not Us–It’s Them!

George Bush and Dick Cheney insist there were WMD in Iraq and Republican administrative leaders insist the financial crisis has nothing to do with Bush economic policies but are the fault of nations like China. Secretary of the Treasury, Hank Paulson, insists, “In the years leading up to the crisis, super-abundant savings form fast-growing nations such as China and oil exporters…. put downward pressure on yields and risk spread everywhere.” The assumption of such statements is that nations which do not run deficits are responsible for economic problems in nations that run enormous deficits by reducing taxes and becoming engaged in crazy wars.

What if George Bush had NOT passed the ridiculous tax cuts which benefited the wealthy of America and helped transform a Clinton surplus into a Bush deficit? America fed on the money of others to run up enormous debts so Bush people are now claiming China and the others should not have loaned money to America. Is there anyone in the Bush administration who can admit that mistakes were made?