The Republicans say that the financial melt down of 2008 wasn’t because of there was a republican president ( with veto power) in the white house or because there was a republican controlled senate…They say it was because of a Dem controlled Congress…Now we have a Democrat president and Dem controlled Senate. The congress is controlled by the Republicans…According to their own logic, aren’t the Republicans now responsible for the economy?….
Republican wrong-way POLICIES are to blame for the multiple problems with our economy, and this includes the housing and credit markets’ COLLAPSE that began as far back as 2004 (when National Public Radio’s "All Things Considered" issued their first dire warnings about Fannie Mae and Freddie Mac, both of which had been DEREGULATED by the GOP-controlled government.
Deregulation, if you think about the meaning, is basically saying to greed-driven corporate CEOs, banksters, or Wall Street that you "trust them to make their own rules"—you are removing any checks and balance systems, any consumer protections, and any government oversight and pretty much letting for-profit companies or banks or Wall Street tycoons "self-regulate" in the "hope" that they will "play fair" with the American people or that they will act in the "best interests" of the nation’s economic well-being. Both Libertarians and the far-right-wingers that control the GOP think this is a workable idea, but the COLLAPSE of our savings and loan industry from the Reagan/Bush and Bush/Quayle days would suggest otherwise, just as the FINANCIAL SYSTEM MELTDOWN that followed the COLLAPSE of our housing and credit markets offers even more proof. Review former Fed Chairman Alan Greenspan’s testimony before a Senate Committee are the Bush/Cheney and GOP-caused GREAT RECESSION on C-SPAN (sentiments he repeated on "Meet The Press" in the months following his Senate appearance): "I was WRONG to believe that they [housing and credit markets, Wall Street, AIG, financial institutions] could or even WOULD self-regulate."
The DEREGULATION fiasco was accompanied by Republicans’ DRUNKEN-SAILOR SPENDING that swallowed up President Clinton’s massive surplus (Krugman, 2008; Suskind, 2004), and their tendency to ignore any "Pay-Go" rules (pay as you go) when they passed UNFUNDED MANDATE after UNFUNDED MANDATE (the FAILED and NOT PAID FOR "No Child Left Behind"; the UNPAID FOR Medicare Part D that added trillions to our debt; the ILLEGAL and UNFUNDED invasion of Iraq which meant borrowing money from Communist China; etc.).
Yes, Republicans are responsible for the economic messes, and this 112th Congress which is again under the aegis of right-wing Republicans is thus far the "least productive Congress" in more than 50 years (according to several news reports). The Republicans want to deliberately TANK THE ECONOMY in their ongoing efforts to undermine any successes the Obama administration has. In addition, the teabagging evangelical extremists and far-right-wing Republican governors of at least seven states are causing massive LAY-OFFS in their ongoing war on full-time American workers that began when Reagan idiotically (alzheimeredly) fired PATCO in the 1980s—not good for recovery at all!
Check out recovery.gov and whitehouse.gov for the positive actions that have been taken by the Obama administration since he first took office—you will be quite impressed. Trade deals to have more American-made exports sold on foreign markets (India, Indonesia, etc.); new and refurbished plants operating in more than 40 states to make alternative energy products so the U.S. can REBUILD its GOP-outsourced MANUFACTURING JOBS BASE; the Jobs bills that passed after being deliberately HELD UP (filibustered or otherwise blocked unreasonably) by Senator Mitch McConnell (a multi-millionaire from a very poor state of KY where the unemployment rate surpasses the national average)—YES, the state of our struggling economy is the fault of the Republicans.