Yes, you're better off. Bush admits serious financial failures

[kpete]

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Warning, Republican reader. The video of Bush delivering this speech -- or excerpts from it, below -- will probably be played over and over again between now and election day. You may want to pick up some ear plugs. And you may not want to check out these excerpts showing precisely where we were four years ago.

But before you go, remember that during those days -- in fact, during the entire two terms of the Bush presidency -- there were job losses on a scale that will embarrass Republicans even as they're trying to minimize Obama's job gains.

Yes, you're better off. Bush admits serious financial failures:

http://video.msnbc.msn.com/the-ed-show/48889442#48889442

........... We've seen triple-digit swings in the stock market. Major financial institutions have teetered

on the edge of collapse, and some have failed. As uncertainty has grown, many banks have restricted lending, credit markets have frozen, and families and businesses have found it harder to borrow money.

We're in the midst of a serious financial crisis...

... Financial assets related to home mortgages have lost value during the house decline, and the banks holding these assets have restricted credit. As a result, our entire economy is in danger.

So I propose that the federal government reduce the risk posed by these troubled assets and supply urgently needed money so banks and other financial institutions can avoid collapse and resume lending. ...NYT transcript

President Bush then, of course, had to introduce and propose measures that Republican weren't going to embrace -- like using the government to bail out private companies.

Even as the man was speaking, the markets were spiralling downward -- out of control. If you asked me whether I'm better off now than four years ago, you'll get a resounding "of course!" Jobs are coming back; the markets are much healthier. And we're ending costly "wars of choice."

http://prairieweather.typepad.com/big_blue_stem/2012/09/yes-youre-better-off-bush-admits-serious-financial-failures.html



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We fell off the cliff on 9/15/2008

The descent was so steep and the bottom so deep that we were still falling fast when President Obama was inaugurated.

He couldn't stop the drop on a dime, but cushioned the landing with the stimulus and GM bailout.

Then, beginning the long climb out, the GOP has been obstructing every step of the way.

The country is much better off today than when the President was inaugurated but we could be a lot farther without GOP obstruction.

We need to work as hard for a Dem House and Senate as for the President's re-election.

http://www.dailykos.com/comments/1127607/47390941#c3

[Xyzse]

1. Posting so I can come back to this

Later when I can watch it.

[enough]

2. So important. May that video be seen everywhere! (nt)

[Scuba]

3. "...Republican weren't going to embrace - like using the government to bail out private company"

Republicans are all too willing to have the taxpayers bail out private companies. They're even keen on having taxpayers subsidize already-profitable private companies - think GE and Exxon.