I have never excused the avaricious assholes on Wall Street, from both parties, for their role in the mortgage meltdown, but no liberal has ever even tried to convince me that without the subprime mortgages there couldn't have been derivatives , dishonesty, shady deals and financial chicanery on Wall Street.<quoted text>
in early 2001. the CBO predicted that by 2012 we would have amassed a 5.6 trillion surplus.
In going through as to what changed this, the Bush tax cuts were part of the Bush policies that claimed nearly 40% of the reason. Obama's policies claimed only 10%.
Unfunded tax cuts while expanding government & at a time of war was indeed a major factor.
No subprimes, no derivatives.