Monday, October 13, 2008

Bush Legacy: America near Ruin

As the Bush (also known as the Joe six-pack) presidency in nears its end, its legacy has become very clear. The country is in a financial disaster that could possibly surpass that of the Great Depression. We are in the fifth year of the war in Iraq where things have gotten better, but no end is in sight. This was a war the Bush presidency took us to with lies, false information, and an ongoing agenda of fear mongering. At the same time, Afghanistan which was nearly won, is now nearly lost.

The free-market system of banking and finance is in total shambles and countries around the world must work together to prevent a global meltdown. The initial cause started here with an absence of any regulation of the financial marketplace that led to systemic abuses ranging from fraudulent home loans to the major financial institutions on Wall Street lying to themselves, lying to their shareholders, lying to the government, and lying to the American public about their true financial state. In the end, the financial institution survivors had to be rescued by the taxpayers of this country. All this happened while the president was keeping us safe from unnamed horrors abroad.

Even the so-called "safe" giant insurance companies found themselves facing financial difficulties that few would have imagined. It all comes back to the commander-in-chief. What the president did, he did poorly. He mismanaged the war and ran up the biggest budget deficit in history. And this was supposed to be a conservative president? What he failed to do was legion, most importantly provide leadership and see to it that the country was better off at the end of his administration that it was at the beginning of his administration. In the end, when his leadership was needed, he had none to display and his credibility was gone. The reputation of this nation is a fraction of what it was when he took over.

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