The only thing Obama did was get the average person into more consumer debt. From cars to appliances to homes. The CEOs didn't run the companies into the ground. In the case of GM, you can blame that on legacy costs. It's the unions that killed that company. With the banks, it was the Community Reinvestment Act that forced banks to either make monetary or equipment donations to ACORN, or give out bad loans that they knew would default. If they didn't comply, interstate banking operations would be halted by the US Government.<quoted text>
Bush put money directly into the hands of CEO's who ran their companies into the ground. Billions to the auto industry, investment firms, banks, insurance companies etc. How can you not call that socialist. Obama is offering incentives to average americans to jumpstart an economy in ruins. Bushs bailouts acheived absolutely nothing except to enrich the CEO's. Obama's tax incentives helped out car dealers and average americans reying to sell their homes and put the economy moving in the correct direction. I think it's you who needs a class in economics...one in recent history might not be a bad idea either.
The same people that got themselves into homes they couldn't afford are the same people that went out and bought a new car simply because they could trade their junker in for up to $4,500. When people can no longer keep up with their new car payments in 2010 and beyond, are you still going to blame that on Bush?
Americans have an uncanny ability to get through anything life throws at them. When you have government try to fix a situation, it only ends up worsening. As show in each of our past bubbles that have popped.