This speech should be required viewing for history classes, it is a pivotal economic moment in American history. And historians should ask... why did this speech occur on Sept 24th 2008 and not earier, much earlier? You know president Bush didn't wake up that morning and have his economic advisers tell him there is a problem. Maybe they were hoping the problem would go away but something tells me they waited until the last months of his presidency before dropping this bombshell.
A long and painful recession. He finally told the truth. However, it was too late by this time. This happened on his watch. CEO's did get a windfall, banks received a windfall, and Bush himself will be fine with money he receives for a lifetime by the American people.
Half lies, half truth. He was in office 8 years and it was the norm. We should have known.
A criminal con-man for president.......in every sense of the term. It's impossible to describe how evil this man is and just how bad that he and his henchmen left this nation in their wake! The devil incarnate.....and without a doubt the worst president in the history of this nation. What this president perpetrated on the American people will take decades to correct if it is able to be corrected at all. I'll celebrate on the day that this man dies.
@AtlasShruggery The 2001 Recession had nothing to do with the Bush -or Clinton- administrations. It was due to the Federal Reserve's reckless inflationary policies and its set-up of equity bubbles that happened to burst in the early Bush years.
if it wasn't for Bush's decisions we probably wouldn't have got a Osama today so don't say it's his fault, he has helped our economy so don't say he horrible as a president
2005 Bush speech...if the peoples of that region are permitted to choose their own destiny, and advance by their own energy and by their participation as free men and women, then the extremists will be marginalized...radicalism to the rest of the world will...eventually end…We’re encouraging our friends in the Middle East, including Egypt and Saudi Arabia, to take the path of reform, to strengthen their own societies...by respecting the rights and choices of their own people...
I cannot stand how Fox news plays up "Obama's trillion dollar bailout" when the bailout was totally non-partisan--this video is Bush's ANNOUNCEMENT of a federal bailout. But somehow, it's all Obama's fault.
@AngryScissor They're all simply racists. We should have known this would happen, but I figured since all rednecks like Football, somehow they'd be able to deal with it. Not so, as it turns out They're all making up reasons to hate Obama—anything, when its simply because hes black. That's it end of story.Deal with it white people.
Be wear of the wolf's extinction because the wolves is the direct result of the competition between the wolf and the market to have so much competition might be to much for the market and they breed like rabbits, I just seen a market double yesterday, get out you boom sticks it's time to go grocery shopping.
@nimportekoiTheory While some Democrats (or a lot of them) voted for these deregulation laws almost all Republicans did. So most of the blame is on the Republicans and their govt oversight reducing policies.
Bush/Cheney intentionally destroyed the U.S. middle class; they destroyed our economy by eliminating any oversight if those greedy bastards on Wall St. And since Obama was elected, they have plotted in back rooms to spend 100% of their time destroying HIS presidency, at the expense of the fortunes of every American family. Wake up voters: WHY WOULD YOU VOTE FOR ONE REPUBLICAN? They are the most foul traitors our country has ever seen. Send them packing on Nov. 2nd.
@JanisL The deregulation of the banks began in the Clinton era. He appealed the acts that limited what the banks could do. It wasn't until a decade later when the consequences became a reality.
Bush knew exactly what he was doing when he ran this nation in to the ground. The ultimate goal, as it is today, is to eliminate all social programs so the top 2% do not have to pay for the 'lazy welfare queens' who actually do all the real labor. The top 2% do work. They work on the portfolio of endless wealth-creating stocks and sending jobs overseas. Meanwhile the middle class is destroyed while the lower class swells daily. Greed is what is rotting the world.
@dudechongpare By not helping the banks, the American financial system would have been a complete disaster to the point where unemployment would rise so high and people would lose so much confidence in the markets. That will create an immense economic depression to the point where it will take a long time to bounce back.
How did he help the banks? Paulson let Lehman Brothers fail! They forced BofA to save Merrill Lynch's ass by buying them out or else Merrill would've failed as well.
@rizwanlatif you are a moron, the only reason the economy crashed is that Bush didnt Veto the democratic controlled congress enough (5 times) so it is his fault, he should have stoped dems when he was president.
The Democrats forced the banks to lend to high-risk people which caused the housing collapse. The only way to fix it is to vote out the reckless Democrats on November 2.
The 1933 plot failed but in 1963 the right wing fascists suceeded when they murdered JFK in dallas.And after the murder of RFK in 1968 Prescott's boy Nixon was in the whitehouse.Nixon made HW Bush ambassador to China and suddenly communism was ok.
In 1933 Gen Smedley Butler named Prescott Bush as well as GM,US Steel,Goodyear,Chase Bank and others as part of a plot to overthrow FDR and install a Fascist regime in the USA.Prescott Bush was also a huge supporter of Hitler and was charged with doing business with the enemy during WW2.
Republitards blame Dems for everything that goes wrong on their watch, yet they feel it is very important for Americans to vote GOP. This lack of accountability proves Republiturds have no business running for a position of leadership. Perhaps Republiturds are better off staying out of government completely and leave it to us grown ups who know how to accept the responsibility a position of leadership demands. Maybe it's best they continue to stay on the sidelines and cry like little girls.
I never like President Bush, but at 5:40 of this speech I began to realize that he listened to his advisors, isn't as arrogant as I thought and in this speech put so the so called pants on this problem. I too am a strong believer in the free enterprise system and dramatic financial government action (TARP) was necessary. Without this action, right now, most of the world economy would be pretty much back in the dark ages. This is a monumental speech, and the smartest thing Bush could do.
@rpwhitney Cant blame him on the oil spill can't bane him on more spending can't blame him on iran nuke threat can't game him on lost ground in afganistan can't blame him on the Mosk that's being biltong over ground zero that opens on 9/11 cant and you know what he did and that bull shit
@12musicvideoguy you are one smart guy. NO we can't blame him on any of that because he doesn't own BP or Religion for that matter. Your spelling is a little off but that's okay. George Bush set up the "No child left behind" and I can see it has worked wonders on the young and the old!
@rpwhitney And think what would have happened if we didn't go to Iraq I have been there it's not like what you hear but more inosent people would have died becouse of tarorist attacks on the US look at how easy it was to colaps the twin towers and I belive they can do it again
The culprit he should have spoke of was the Fed.... They kept interest rates too low without anyone saving their money to justify the low rates.... This caused an error in long term projects, such as housing and a buildup on prices in housing that were not sustainable.... Then the other factors played a role, such as people who thought they had 100k in equity borrowed against it to buy $7 ice cream cones at Coldstone, vacations, corporate fraud, gambling with cheap money, etc.
bill clinton is responsible fo this whole economic mess,,,,,,,,,,had he not arm twisted financial institutions to give loans to people who couldnt pay it back ,,,,,this crisis would not have taken place at all,,,,,,
mortage backed secrities = this financial instrument should have not been invented at all,,,,
such fancy and cola financial instruments cause trouble to all and sundry ,,,PHEW,,,,
whatever it may have been ,,,its only after i listened to his speech,,,did i get the complete understanding of the whole picture [crisis],,
its due to president bush ,,the dollar denominated world economy and its international trade were saved from an almost certain depression,,due to the crisis in america and its spill-over
That didn't mean that bankers and speculators had the ethical right to bundle and sell off the loans then bet against them a hundred times over. Then sell them again. The financial collapse can be attributed to many in Washington among both parties. Don't be so partisan. It's blinding.
the highest bankers [bernanke and fellow zionist cohorts] were behind the irrational raising of interest rates,,,which led to inability to pay back mortage loans,,which in turn caused the complete slide and failure of mortage backed securities,,,which again caused the crisis to spread to other sectors of the economy & the world,,,
i think clinton and the fed zionist bankers are the prime culprits ,,,and bush rescued the world economy from going in to the jaws of depression,,
@David12King Stop talking about things you know nothing about. Niether one of those guys should have been impeached. I bet you don't even know what habeas corpus is.
@David12King Yes, I have read the Constitution and how you come up with your cracked up conclusions is amazing! You don't crap. We are bringing terrorist to justice thanks to G-bay. It's people like you who are destroying this country! Don't respond to me again you dummy.
@David12King Wrong! Wrong! You do not have the right to a fair and speedy trial under the 8th amendment. Under the 8th amendment, you have the right to no cruel and usual punishment! See, you don't know crap!
@David12King You talk so much about how the constitution allows people who aren't citizens to gain constitutional rights no matter how they got into America, which you are right on, but here's a problem. These people are being held captive in a totally different country. Therefore, the constitution doesn't even apply to these people. These people are under a totally different rule of law. There, that ends the debate, I'm not responding to you anymore.
@David12King You talk so much about how the constitution allows people who aren't citizens to gain constitutional rights no matter how they got into America, which you are right on, but here's a problem. These people are being held captive in a totally different country. Therefore, the constitution doesn't even apply to these people. These people are under a totally different rule of law. There, that ends the debate, I'm not responding to you anymore.
He is not putting anything back together tho I agree Bush started the push towards socialism. Obama was just waiting for the hail mary pass. He has it now and is running.
Also this is the speech that Michael Moore edited for the movie Capitalism: A Love Story, in which he says we need democracy in capitalism, and cuts Bush's term "democratic-capitalism" into "Capitalism is the greatest system ever devised..." setting up a strawman because of course Bush didn't say that. But I guess it's cool since we all know that Bush really thinks that. That's not the only BS in his movie, though. I just wish someone would 'stand up for the American Worker' who isn't a grifter.
It's easy. Reinstate Glass-Steagall. The reason you don't hear Obama OR the GOP talking about it is because they want to protect the current system for the elite started by Reagan. That's why you have democrats who act like Reagan is the messiah--he "Turned the bull loose". They don't *want* to dismantle AIG because of the 'too-big-to-fail' created by CFMA of 2000, where they repealed most of Glass-Steagall. This is THE truth of the matter. Call your congressman. Tell 'em you want Glass-Steagall
Glass-Steagall act of 1933 prohibited financial institutions from housing commercial and investment banking under one roof. This was to PREVENT 'too-big-to-fail' from existing, essentially. In 1999 the Gramm-Leach-Bliley act, passed as the CFMA (Commodities Futures Modernization Act) and subsequent amendments to it, deregulated this as well as opened up the 'Credit Default Swap' market, a shadowy market indeed because a lot of those deals we still don't know how much was lost. Up to $60 trillion
Yes, almost as much money as the U.S. GNP. Because companies like AIG, CitiGroup etc. bet their entire companies on these things, known as 'Credit Default Swaps'... and since 2000 they have become centers of finance for the industry, they became "too-big-to-fail" because of the repeal of Glass-Steagall. Look up "Byron Dorgan 1999". It's a two-part video but sums up exactly what happened in 1999. Byron Dorgan was one of the only senators, (out of 8 dems) who voted AGAINST CFMA in 1999.
In glancing over this I realized I really didn't explain it full well enough. You should google Wall Street Journal, Washington Post, and other articles from what's been happening in the economic crisis between 2007 and today. It all goes back to the "CFMA of 2000". Get CBO reports, FED reports etc. It's a pretty ugly business. It's because when they bet their whole businesses on these CDS's, it was taking everyone else's money's value with it, because of insurance etc. Complicated? Yes and No.
Anybody who's eyes are open knows that President Bush is not even half of why we have this crisis. He is like Harry S. Truman, everybody hated him him during and a few years after his presidency, but ended up being judged by history as one of the greatest presidents ever.
I agree completely. As time passes, more and more people will come to realize that Bush did a real good job. History will view him much like Truman, in that he made difficult decisions that were unpopular at the time, but will be looked at years from now as absolutely the right course of action.
@insanekillamonster1 How can you possibly say that he was "judged by history as one of the greatest presidents ever" just two years after he left office? There is absolutely no 'historical' study that wouldn't be biased on way or another by current events. I'm curious where you even heard such a claim.
You're so right insanekillamonster1 is as stupid as his name. By the way who exactly is he talking about that thinks Truman was one of the greatest presidents ever????
@AngryScissor he is the worst. history will always show this. Amazing that anyone voted for him at all. Just goes to show, it doesn't matter what you say, only how you say it. An even worse version of Reagan.
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Fuck the Bush family, they and their friends spent the US money in a Stupid war, 9/11 was planned by the US Government, so sorry if you don't have anymore money to invade more countries with your excuse of "Inti Terrorism War" FUCK U ASSHOLE!you have killed thousands of civilians in the middle east and in the US, you should be in jail and all the money you have earned because of this should be given to those companies that are in bankrupt because of you, See "9/11 Coincidences" from part 1 to 19
his plan wasn't to scrap social security it was to allow an individual to stop paying payroll taxes and allow them the individual FREEDOM to invest where they want, be it in securities or bonds. Social Security is the largest ponzi scheme in the history of the world. Obama and his dems need to stop being so generous with other people's money. I know an old saying we say out west that sums up the Democrats. "you let me write you $1 trillion in hot checks and i'll show you a good time too".
remember his plan to scrap social security and invest it in the stark market.... LOL that's usually what I say when people ask if things could be worse
yes the biggest buffoon in history...not one single thing to recommend him as a dog catcher much less the leader of the free world and people want him back. I guess they want him to finish the job he started of sinking us.
Our next president needs to be an expert financial troubleshooter, everything else aside. I don't care who it is, but right now in our history, America literally needs to be run like a business. The kind that trims the fat and makes smart decisions.
Bullshit...If the first recession was Clinton's fault whose fault is this one? Bush remains the only president in history with not just one but TWO recessions in his tenure. By the way did Clinton make him attack the wrong country after 9/11?
Wrong, Reagan did too haha But if anyone takes anytime to pick up a modern U.S. History domestic policy and foreign diplomacy book will see that Bush pretty much just copied Reagan's homeland policies but to a much more potent extent
Bush picked up after 8 years of clintons bullshit. Bush payed the price for Clintons poor administration. 6 months after Bush took office the world turns upside down, and you people point the finger at Bush. Bush did a good job considering the conditions he was under.
This is great, "I believe companies that make bad decisions should go out of business. Under normal circumstances, I would have followed this course." But I guess these companies were just too big to let fail. Oh yeah, if it were some small business, fuck em. God, what an asshole. I'm independent by the way, fuck Obama too.
from a credit card that is under Citi bank. I only owe 520.00. Yet Ive never had a late fee, thus they have increase my min payment of 20.00, to 54.00. For one thing, Citi bank went belly up and got a bail out of 20 billion I think. I'm calling them tomorrow to get this reverse, there not gonna screw me, that's for sure >:( They will get that back down to 20.00, or they want recieve another payment from me.
01;06. the root cause of ALL the crap that is"happening" is his masters pulling the strings on all their puppets, republican and democrate alike. final goal, one world leader, new world order. complete control of the sheepple...wake up!, stop focussing on the puppet's, do some research on their master's, like the illuminat,the builderburg group, the rothchild's,etc.etc. check out, arron russo, and listen to someone who had inside info...
For those who are so quick to join the Hate Bush chorus, if you actually listened to what he actually said, you might have learned something about our financial status and how it came about. No one person is responsible for this. There was a systemic breakdown of the lender-borrwer relationship. If you can't afford it, don't take out the loan. Don't write the loan if you know the deadbeat can't pay it back.
Well Obama is in office and look how fucked up the country and financial situation is. Congress is also controlled by dumbocrats. Still waiting for a fix......Any fresh ideas??? Fucking idiots...
ALERT: The US-MEXICO borders are very sensitive area, it should be stood by the US troops like most countries & USA must create a DMZ!!! otherwise the USA will be falling OFF to the Ocean. (be invaded)
MEXICO would become the Most Base of Terrorist-Gangs Smugglers Country in the World including Illegal Aliens-Crossing, Sneaking into the USA. (Millions# illegals inside the USA already) Time is Running Out.
Bush, you are, if not, THE WORST PRESIDENT IN HISTORY!!!!! you are so full of crap and you're an asshole, who doesn't know which way is up or which way is down. words can't explain how happy i am and relieved that you will no longer be our president. You're a coward and a liar!!!!!
Jimmy Carter was by far the worst President we have ever had and you are truly uneducated. He dealt with terrorists and befriended the worst terrorist leader, Khomeini. He assisted the Islamic Republic of Iran and Muslim terror that eventually spread across the world. Terrorist activity has been around for awhile in our country. Because Bill Clinton did not do shit in office as soon as George enters, our country is attacked by terrorists and he was put to blame.
I know this would be hard to do, but imagine if all those guys who are in Iraq were here at home working in factory jobs that didn't get outsourced to other countries in order to get a tax break for reinforcing the mandate to help foreign trade. They could have been buying and living in the houses that would have enventually had to go down in price, since the housing market got stupid with prices at the whim of the mortgage trade (again the banks). We wouldn't have a crisis.
Reaganomics, my ass. He should have said, "Seven years ago I was told this would happen but I am rich so I don't care, I knew it wouldn't effect me. I am announcing this as if it just happened beyond my control. Like 9/11, if I had listened to someone besides my reflection in the mirror and the voices I hear that I call Jesus, (I really should have been institutionalized), then this wouldn't have happened, but I stand on the White House lawn and act like I don't understand how this ocurred."
Gosh, I'm filled with such pride, George. Gee, you are a model of honesty and decency. I'm so filled with hope now, boss. Now go fuck yourself with your diamond-encrusted dildo you pathetic puppet.
Bush, you have no more credibility left in you. Today, you're just nothing but a mockery in the eyes of the world and even to you're own people. You're a person free to be insulted, to be stepped at. You're a dirty heel. The world will judge you for your war crimes
When Bush took office, the national debt, accumulated since the founding of the nation, stood at $5.6 trillion. Today it approaches $9 trillion. By the time Bush leaves office, it will exceed $11 trillion. In only eight years, he will have created more debt than all other U.S. presidents combined.
Most people including both houses of Democrats used the 5.6 & 9.6 Trillion, either it is plain deceiving or ignorance. $1 then is not $1 now. (5.6 should be 6.4 to 6.7).
Converts to 2005 dollars.
Debt in trillion - Debt % of GDP average to end of term.
2.2 - 36.4% Nixon Ford, within 1.8 trillion is historic.
0.1 - 34.3% Carter.
2.5 - 42.9% Reagan, Soviet end, worth it.
1.3 - 58.5% Bush.
0.6 - 64.5% Clinton, cut military.
2.9 - 63.0% Bush, a lot happened, if democracy take hold, worth it
If Bush took office at 6.4, creates zero debt in 8 years, even with 3% interest, 6.4 will exceed 8 trillion.
If Bush leaves office at 9.6 or 10 trillion, he should responsible for 1.6 or 2 trillion. He should responsible more if not the democrats & 80% of medias undermined his policy & credibility for politic.
Should tend to economy grow than debt. See Carter.
If GDP exceed debt grow rate, debt reduce. If grow equally, remain constant, still ok.
His socialized banking system has failed .. He should of read and asked help to understand before signing any housing bill. The cost of a war he started caused instability in a market damaged already by 911 and cooking the books. you can't remove a great risk.. not even repair it. habbits of greed in must change first.. land speculation caused the great depression as the housing defalt caused this one..
For the record, of course America is not God. This country needs to get right with God NOW! Otherwise, those who have not been saved will be destroyed. God does not nor has He ever wanted that. He would love it if all would turn from their wicked ways and turn back to Him, accept Jesus, the Messiah, His Son, as Lord and Savior...but the majority refuses to do it and instead follow the father of lies--Satan, who steals, kills, and destroys. "The wages of sin is death..."
This speech should be required viewing for history classes, it is a pivotal economic moment in American history. And historians should ask... why did this speech occur on Sept 24th 2008 and not earier, much earlier? You know president Bush didn't wake up that morning and have his economic advisers tell him there is a problem. Maybe they were hoping the problem would go away but something tells me they waited until the last months of his presidency before dropping this bombshell.
Jamesscearce 1 week ago
A long and painful recession. He finally told the truth. However, it was too late by this time. This happened on his watch. CEO's did get a windfall, banks received a windfall, and Bush himself will be fine with money he receives for a lifetime by the American people.
Half lies, half truth. He was in office 8 years and it was the norm. We should have known.
neugentk 1 month ago
the gov put 700 billion on the line . the Fed put 9 trillion on the line information
got out
sha370z 3 months ago
he said we think people going to pay there home loans
sha370z 3 months ago
Listening to this guy makes me sick. He caused this mess by drawing 9/11 & lunching 2 wars on Muslims. All that for his his Isreali masters.
rrb634 4 months ago
A criminal con-man for president.......in every sense of the term. It's impossible to describe how evil this man is and just how bad that he and his henchmen left this nation in their wake! The devil incarnate.....and without a doubt the worst president in the history of this nation. What this president perpetrated on the American people will take decades to correct if it is able to be corrected at all. I'll celebrate on the day that this man dies.
maxiswooper 4 months ago
2009 was the aftershock
sha370z 5 months ago
Worst. President. Ever.
"I inherited a recession." - George W. Bush April 9, 2002
"I inherited a`recession." - George W. Bush January 9, 2009
Junior Bush inherited many things but not his recessions.
AtlasShruggery 6 months ago
@AtlasShruggery The 2001 Recession had nothing to do with the Bush -or Clinton- administrations. It was due to the Federal Reserve's reckless inflationary policies and its set-up of equity bubbles that happened to burst in the early Bush years.
Frenchyification 5 months ago
@Frenchyification dotCom bubble burst also.
T0B0KKE 3 months ago
It's scary how Obama's debt speech is so close to Bush's bailout speech. Both fear mongers, apparently.
turbotrauma 6 months ago
"YES WE CAN'T"!
jjtiojohn12 6 months ago
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sha370z 6 months ago
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by 2005 it was already set
sha370z 6 months ago
Gunshooter is a total dumbfuck....absolute moron.
citizenchi 7 months ago
if it wasn't for Bush's decisions we probably wouldn't have got a Osama today so don't say it's his fault, he has helped our economy so don't say he horrible as a president
GunShooter1314 8 months ago
yes we have come along way since this
gregevanski 9 months ago
It's happening.
2005 Bush speech...if the peoples of that region are permitted to choose their own destiny, and advance by their own energy and by their participation as free men and women, then the extremists will be marginalized...radicalism to the rest of the world will...eventually end…We’re encouraging our friends in the Middle East, including Egypt and Saudi Arabia, to take the path of reform, to strengthen their own societies...by respecting the rights and choices of their own people...
hkslee 11 months ago
Don't let the TEA party rewrite history. The problem started with Bushs tax cuts and two wars.
DGS1954 11 months ago 2
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David12King 10 months ago
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David12King 10 months ago
@DGS1954 The problem started in the friggin 80s.
skorpionsks 9 months ago
@DGS1954
The problem started with the Community Reinvestement Act under Carter, so shut the hell up.
budi360 5 months ago
Hurensohn = Wohreson !
KosovaHereq 1 year ago
I cannot stand how Fox news plays up "Obama's trillion dollar bailout" when the bailout was totally non-partisan--this video is Bush's ANNOUNCEMENT of a federal bailout. But somehow, it's all Obama's fault.
AngryScissor 1 year ago
@AngryScissor They're all simply racists. We should have known this would happen, but I figured since all rednecks like Football, somehow they'd be able to deal with it. Not so, as it turns out They're all making up reasons to hate Obama—anything, when its simply because hes black. That's it end of story.Deal with it white people.
toddy1968 11 months ago
Be wear of the wolf's extinction because the wolves is the direct result of the competition between the wolf and the market to have so much competition might be to much for the market and they breed like rabbits, I just seen a market double yesterday, get out you boom sticks it's time to go grocery shopping.
TheSeaMyst 1 year ago
The Democrats voted for the bail out. You can blame Bush all you like.
nimportekoiTheory 1 year ago
@nimportekoiTheory While some Democrats (or a lot of them) voted for these deregulation laws almost all Republicans did. So most of the blame is on the Republicans and their govt oversight reducing policies.
SupernautG 1 year ago
After viewing this, there is no way I want Republicans back in control. I hate being forced to choose the lesser evil:(
1Harribo 1 year ago
And the Republican dominated House and Senate (in 2001) rejected legislation to address Fannie Mae & Freddie Mac.
harleyjspoon 1 year ago
Bush/Cheney intentionally destroyed the U.S. middle class; they destroyed our economy by eliminating any oversight if those greedy bastards on Wall St. And since Obama was elected, they have plotted in back rooms to spend 100% of their time destroying HIS presidency, at the expense of the fortunes of every American family. Wake up voters: WHY WOULD YOU VOTE FOR ONE REPUBLICAN? They are the most foul traitors our country has ever seen. Send them packing on Nov. 2nd.
JanisL 1 year ago
@JanisL The deregulation of the banks began in the Clinton era. He appealed the acts that limited what the banks could do. It wasn't until a decade later when the consequences became a reality.
GunsNRosesbitches 1 year ago
Well if nothing else he sure can read that teleprompter well. A real pro.
beachbreakbarrel 1 year ago
Bush knew exactly what he was doing when he ran this nation in to the ground. The ultimate goal, as it is today, is to eliminate all social programs so the top 2% do not have to pay for the 'lazy welfare queens' who actually do all the real labor. The top 2% do work. They work on the portfolio of endless wealth-creating stocks and sending jobs overseas. Meanwhile the middle class is destroyed while the lower class swells daily. Greed is what is rotting the world.
jjtb4v 1 year ago
Bush borrowed Billions from China to finance the wars in Iraq and Afganistahn.
BobDaniel56 1 year ago
Bush - help the american people or the bank!? he choose to help the banks.
and now more Americans are in poverty, and the banks are getting fealty rich!
dudechongpare 1 year ago
@dudechongpare By not helping the banks, the American financial system would have been a complete disaster to the point where unemployment would rise so high and people would lose so much confidence in the markets. That will create an immense economic depression to the point where it will take a long time to bounce back.
How did he help the banks? Paulson let Lehman Brothers fail! They forced BofA to save Merrill Lynch's ass by buying them out or else Merrill would've failed as well.
GunsNRosesbitches 1 year ago
Bush destroyed the USA.
InsaneGoonRules 1 year ago
and he got away with it! and wash his hands clean!
dudechongpare 1 year ago
bush just like obama and everyone since LBJ are just puppets... nothing more and nothing less
Foreign banks OWN this country
coolkyd383 1 year ago
thick cunt
peppersdog1 1 year ago
Those were some good times! IMAO!
anglekan 1 year ago
Former Moron In Chief.
Slayerfan84 1 year ago
DEATH TO THIS BASTARD BUSH!!!
rizwanlatif 1 year ago
@rizwanlatif you are a moron, the only reason the economy crashed is that Bush didnt Veto the democratic controlled congress enough (5 times) so it is his fault, he should have stoped dems when he was president.
TheJoeShow411 1 year ago
@TheJoeShow411
lol dude i wanted to be a bit dramatic
yeh everyone knows bush is a bastard, hes fucked in his head, he is da most dumbest president in the history of USA
rizwanlatif 1 year ago
@TheJoeShow411: That is the most ludicrously false statement I have ever read on YouTube. Ever.
Yosef1952 1 year ago
The Democrats forced the banks to lend to high-risk people which caused the housing collapse. The only way to fix it is to vote out the reckless Democrats on November 2.
superman93994 1 year ago
The 1933 plot failed but in 1963 the right wing fascists suceeded when they murdered JFK in dallas.And after the murder of RFK in 1968 Prescott's boy Nixon was in the whitehouse.Nixon made HW Bush ambassador to China and suddenly communism was ok.
themeaningoflife38 1 year ago 2
In 1933 Gen Smedley Butler named Prescott Bush as well as GM,US Steel,Goodyear,Chase Bank and others as part of a plot to overthrow FDR and install a Fascist regime in the USA.Prescott Bush was also a huge supporter of Hitler and was charged with doing business with the enemy during WW2.
themeaningoflife38 1 year ago
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Bush made America what it is today...... jobless!
OhioDemocrat 1 year ago
Republitards blame Dems for everything that goes wrong on their watch, yet they feel it is very important for Americans to vote GOP. This lack of accountability proves Republiturds have no business running for a position of leadership. Perhaps Republiturds are better off staying out of government completely and leave it to us grown ups who know how to accept the responsibility a position of leadership demands. Maybe it's best they continue to stay on the sidelines and cry like little girls.
Palin123Sucks 1 year ago
I never like President Bush, but at 5:40 of this speech I began to realize that he listened to his advisors, isn't as arrogant as I thought and in this speech put so the so called pants on this problem. I too am a strong believer in the free enterprise system and dramatic financial government action (TARP) was necessary. Without this action, right now, most of the world economy would be pretty much back in the dark ages. This is a monumental speech, and the smartest thing Bush could do.
Teva72 1 year ago
fuck this asshole and you who voted for him!
omotherfuckenr 1 year ago
"If low IQ ... all be dead."
Great, a dead man writing.
hkslee 1 year ago 4
I want Bush back :(
idontknow5858 1 year ago
I am so fucking tierd of Obama blaming things on bush it's time for him to take responibilty for his actions
12musicvideoguy 1 year ago
@12musicvideoguy
and what are these actions?
rpwhitney 1 year ago
@rpwhitney Cant blame him on the oil spill can't bane him on more spending can't blame him on iran nuke threat can't game him on lost ground in afganistan can't blame him on the Mosk that's being biltong over ground zero that opens on 9/11 cant and you know what he did and that bull shit
12musicvideoguy 1 year ago
@12musicvideoguy you are one smart guy. NO we can't blame him on any of that because he doesn't own BP or Religion for that matter. Your spelling is a little off but that's okay. George Bush set up the "No child left behind" and I can see it has worked wonders on the young and the old!
rpwhitney 1 year ago
@rpwhitney And think what would have happened if we didn't go to Iraq I have been there it's not like what you hear but more inosent people would have died becouse of tarorist attacks on the US look at how easy it was to colaps the twin towers and I belive they can do it again
ElmoGamingNetwork 1 year ago
@12musicvideoguy YOU MEAN LIKE FINALLY PUTTINGBUSH'S 2 WARS ON HIS DEFICT TOTAL'
ttowntammy 1 year ago
The last great republican was Ronald Reagan! Only Ron Paul would be able to follow his footsteps
Aloishinternberger 1 year ago
bush is the reason were in this mess, and obama is only doin an average job, we need to start lookin at independents, they are always overlooked ):
LilScotty777 1 year ago
This was the big payout on a HUGE con game.
doyna 1 year ago
The culprit he should have spoke of was the Fed.... They kept interest rates too low without anyone saving their money to justify the low rates.... This caused an error in long term projects, such as housing and a buildup on prices in housing that were not sustainable.... Then the other factors played a role, such as people who thought they had 100k in equity borrowed against it to buy $7 ice cream cones at Coldstone, vacations, corporate fraud, gambling with cheap money, etc.
soliloqy 1 year ago
"The market is not functioning properly". "There's been a widespread loss of confidence".
An oxymoron coming from the moron since the loss of confidence simply means the markets are working as promised.
pntluck2 1 year ago
what a bumbling moron
rs09985 1 year ago
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TheMattd546 2 years ago
What planet are you from?
MrPontiusPilate 2 years ago
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TheMattd546 2 years ago
Republicans are full of a bunch of old redneck cocksuckers that hate on anyone that does not agree with their Right Wing ideological bullshit!
2010NOSaints 2 years ago
2001 = Bush warned congress about Fannie/Freddie!
mikewiz316 2 years ago
Was Fannie/Freddie the only problem? Did you forget about Lehman Bros., Bear Stearns, Merrill Lynch, and Countrywide?
MrPontiusPilate 2 years ago
@mikewiz316 Then he spend 7 years sitting on his butt.
ETericET 1 year ago
@mikewiz316 yeah bush was a friggin visionary.
Rome 1 year ago
this is the best ,,,explain on the crisis ,,ever ,,,straight from the horse mouth,,,,
anybody who thinks ,,the president is stupid ,,,must listen and reflect on this speech,,,
23580578H 2 years ago
bill clinton is responsible fo this whole economic mess,,,,,,,,,,had he not arm twisted financial institutions to give loans to people who couldnt pay it back ,,,,,this crisis would not have taken place at all,,,,,,
mortage backed secrities = this financial instrument should have not been invented at all,,,,
such fancy and cola financial instruments cause trouble to all and sundry ,,,PHEW,,,,
23580578H 2 years ago
reading a Tele Prompter dosent make u smart jack ass!!
TheMsfts 2 years ago
@themsfts
whatever it may have been ,,,its only after i listened to his speech,,,did i get the complete understanding of the whole picture [crisis],,
its due to president bush ,,the dollar denominated world economy and its international trade were saved from an almost certain depression,,due to the crisis in america and its spill-over
23580578H 2 years ago
That didn't mean that bankers and speculators had the ethical right to bundle and sell off the loans then bet against them a hundred times over. Then sell them again. The financial collapse can be attributed to many in Washington among both parties. Don't be so partisan. It's blinding.
MrPontiusPilate 2 years ago
@pontius pilate
the highest bankers [bernanke and fellow zionist cohorts] were behind the irrational raising of interest rates,,,which led to inability to pay back mortage loans,,which in turn caused the complete slide and failure of mortage backed securities,,,which again caused the crisis to spread to other sectors of the economy & the world,,,
i think clinton and the fed zionist bankers are the prime culprits ,,,and bush rescued the world economy from going in to the jaws of depression,,
23580578H 2 years ago
You sound like a Nazi. What the hell is wrong with you?
MrPontiusPilate 2 years ago
Ya sure he did. With two unpaid wars and with two tax cuts to the top one percent. Get a grip man.
MrPontiusPilate 2 years ago
no it wont because nobody misses hitler
newchurch1 2 years ago
A time will come when people miss George Bush
yelserpsivle 2 years ago
He used the word "Teeter" come on! A red tie? give me a break, and what's with his facial expression? Come on, Really?
Paulwhoisvegan 2 years ago
@yelserpsivle you're right
springjo1 11 months ago
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David12King 10 months ago
@David12King Stop talking about things you know nothing about. Niether one of those guys should have been impeached. I bet you don't even know what habeas corpus is.
springjo1 10 months ago
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David12King 10 months ago
@David12King Rights are not absolute. There was not freaking torture! Waterboarding, which happened to only a few people, is not torture!
springjo1 10 months ago
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David12King 10 months ago
@David12King Yes, I have read the Constitution and how you come up with your cracked up conclusions is amazing! You don't crap. We are bringing terrorist to justice thanks to G-bay. It's people like you who are destroying this country! Don't respond to me again you dummy.
springjo1 10 months ago
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David12King 10 months ago
@David12King Wrong! Wrong! You do not have the right to a fair and speedy trial under the 8th amendment. Under the 8th amendment, you have the right to no cruel and usual punishment! See, you don't know crap!
springjo1 10 months ago
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David12King 10 months ago
@David12King You talk so much about how the constitution allows people who aren't citizens to gain constitutional rights no matter how they got into America, which you are right on, but here's a problem. These people are being held captive in a totally different country. Therefore, the constitution doesn't even apply to these people. These people are under a totally different rule of law. There, that ends the debate, I'm not responding to you anymore.
springjo1 10 months ago
@David12King You talk so much about how the constitution allows people who aren't citizens to gain constitutional rights no matter how they got into America, which you are right on, but here's a problem. These people are being held captive in a totally different country. Therefore, the constitution doesn't even apply to these people. These people are under a totally different rule of law. There, that ends the debate, I'm not responding to you anymore.
springjo1 10 months ago
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David12King 10 months ago
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David12King 10 months ago
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David12King 10 months ago
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David12King 10 months ago
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David12King 10 months ago
@David12King Age haves nothing to do with this. I've been studying American Government in Collage and throughout high school.
springjo1 10 months ago
what a fool, glad he's gone
jg729 2 years ago
He is not putting anything back together tho I agree Bush started the push towards socialism. Obama was just waiting for the hail mary pass. He has it now and is running.
jsh78mang 2 years ago
So what Bush is proposing is Socialism.
jsh78mang 2 years ago
bush might have been terrible but at least he is better than obama!!
salsancheznumber1fan 2 years ago
Also this is the speech that Michael Moore edited for the movie Capitalism: A Love Story, in which he says we need democracy in capitalism, and cuts Bush's term "democratic-capitalism" into "Capitalism is the greatest system ever devised..." setting up a strawman because of course Bush didn't say that. But I guess it's cool since we all know that Bush really thinks that. That's not the only BS in his movie, though. I just wish someone would 'stand up for the American Worker' who isn't a grifter.
igytsiycm 2 years ago
remember people bush broke the egg now obama has to put it back together and I don't know of anybody that could do it
Mcfreezy18 2 years ago
It's easy. Reinstate Glass-Steagall. The reason you don't hear Obama OR the GOP talking about it is because they want to protect the current system for the elite started by Reagan. That's why you have democrats who act like Reagan is the messiah--he "Turned the bull loose". They don't *want* to dismantle AIG because of the 'too-big-to-fail' created by CFMA of 2000, where they repealed most of Glass-Steagall. This is THE truth of the matter. Call your congressman. Tell 'em you want Glass-Steagall
igytsiycm 2 years ago
can you explain to me more about glass-steagall
Mcfreezy18 2 years ago
Glass-Steagall act of 1933 prohibited financial institutions from housing commercial and investment banking under one roof. This was to PREVENT 'too-big-to-fail' from existing, essentially. In 1999 the Gramm-Leach-Bliley act, passed as the CFMA (Commodities Futures Modernization Act) and subsequent amendments to it, deregulated this as well as opened up the 'Credit Default Swap' market, a shadowy market indeed because a lot of those deals we still don't know how much was lost. Up to $60 trillion
igytsiycm 2 years ago
Yes, almost as much money as the U.S. GNP. Because companies like AIG, CitiGroup etc. bet their entire companies on these things, known as 'Credit Default Swaps'... and since 2000 they have become centers of finance for the industry, they became "too-big-to-fail" because of the repeal of Glass-Steagall. Look up "Byron Dorgan 1999". It's a two-part video but sums up exactly what happened in 1999. Byron Dorgan was one of the only senators, (out of 8 dems) who voted AGAINST CFMA in 1999.
igytsiycm 2 years ago
In glancing over this I realized I really didn't explain it full well enough. You should google Wall Street Journal, Washington Post, and other articles from what's been happening in the economic crisis between 2007 and today. It all goes back to the "CFMA of 2000". Get CBO reports, FED reports etc. It's a pretty ugly business. It's because when they bet their whole businesses on these CDS's, it was taking everyone else's money's value with it, because of insurance etc. Complicated? Yes and No.
igytsiycm 2 years ago
lol he always moves his head to the right when he talks. Its so annoying..
vve1vve1 2 years ago
What a fucking tool. Good riddance.
diecheneydie 2 years ago
Anybody who's eyes are open knows that President Bush is not even half of why we have this crisis. He is like Harry S. Truman, everybody hated him him during and a few years after his presidency, but ended up being judged by history as one of the greatest presidents ever.
insanekillamonster1 2 years ago 2
I agree completely. As time passes, more and more people will come to realize that Bush did a real good job. History will view him much like Truman, in that he made difficult decisions that were unpopular at the time, but will be looked at years from now as absolutely the right course of action.
tylercjcl 2 years ago
exactly! and i dun no why so many ppl are crazy abt the new president, come on, he can do nth but talk!
vzzou 2 years ago
@insanekillamonster1
YOU ARE 100% CORRECT! HE WILL BE VIEWED DIFFERENTLY AS TIME GOES ON
mikewiz316 1 year ago
@insanekillamonster1 How can you possibly say that he was "judged by history as one of the greatest presidents ever" just two years after he left office? There is absolutely no 'historical' study that wouldn't be biased on way or another by current events. I'm curious where you even heard such a claim.
AngryScissor 1 year ago
@AngryScissor
You're so right insanekillamonster1 is as stupid as his name. By the way who exactly is he talking about that thinks Truman was one of the greatest presidents ever????
TheProjektcc 1 year ago
@AngryScissor he is the worst. history will always show this. Amazing that anyone voted for him at all. Just goes to show, it doesn't matter what you say, only how you say it. An even worse version of Reagan.
toddy1968 11 months ago
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miguelsotoseudonimo 2 years ago
wow bush destroyed our country and spiraled it into a decline that mite possibly never b repaired by anyone.
wyteboybb 2 years ago
This comment has received too many negative votes show
Fuck the Bush family, they and their friends spent the US money in a Stupid war, 9/11 was planned by the US Government, so sorry if you don't have anymore money to invade more countries with your excuse of "Inti Terrorism War" FUCK U ASSHOLE!you have killed thousands of civilians in the middle east and in the US, you should be in jail and all the money you have earned because of this should be given to those companies that are in bankrupt because of you, See "9/11 Coincidences" from part 1 to 19
spektro4 2 years ago
his plan wasn't to scrap social security it was to allow an individual to stop paying payroll taxes and allow them the individual FREEDOM to invest where they want, be it in securities or bonds. Social Security is the largest ponzi scheme in the history of the world. Obama and his dems need to stop being so generous with other people's money. I know an old saying we say out west that sums up the Democrats. "you let me write you $1 trillion in hot checks and i'll show you a good time too".
abbottbj 2 years ago
GWB is just another asshole who ought to be in jail. Fuck that piece of shit.
riotactiii 2 years ago
remember his plan to scrap social security and invest it in the stark market.... LOL that's usually what I say when people ask if things could be worse
sharktrinity 2 years ago
yes the biggest buffoon in history...not one single thing to recommend him as a dog catcher much less the leader of the free world and people want him back. I guess they want him to finish the job he started of sinking us.
kgkg62 2 years ago
We love you President Bush, your still our leader.
nyyankfan05 2 years ago
BUSH COME BACK OBAMA GOT NO BALLS
Grewal792 2 years ago
Our next president needs to be an expert financial troubleshooter, everything else aside. I don't care who it is, but right now in our history, America literally needs to be run like a business. The kind that trims the fat and makes smart decisions.
fingerbang666 2 years ago
FUCK BUSH!!!!
vancouver13 2 years ago
Bullshit...If the first recession was Clinton's fault whose fault is this one? Bush remains the only president in history with not just one but TWO recessions in his tenure. By the way did Clinton make him attack the wrong country after 9/11?
kgkg62 2 years ago
Why is it wrong country?
hkslee 2 years ago
Wrong, Reagan did too haha But if anyone takes anytime to pick up a modern U.S. History domestic policy and foreign diplomacy book will see that Bush pretty much just copied Reagan's homeland policies but to a much more potent extent
sharktrinity 2 years ago 2
Bush picked up after 8 years of clintons bullshit. Bush payed the price for Clintons poor administration. 6 months after Bush took office the world turns upside down, and you people point the finger at Bush. Bush did a good job considering the conditions he was under.
Jdudepsm3 2 years ago
Didn't 'conservatives' sponsored by Fox News protest this very thing!?
IDIOTS!
DemBeatle 2 years ago
This is great, "I believe companies that make bad decisions should go out of business. Under normal circumstances, I would have followed this course." But I guess these companies were just too big to let fail. Oh yeah, if it were some small business, fuck em. God, what an asshole. I'm independent by the way, fuck Obama too.
adamlesh 2 years ago
This comment has received too many negative votes show
Fuck you mother fucker Ass hole ... GO WOrk And give me back my Fucking money ! mother fucker -.-
magallane999 2 years ago
what the fuck are you talking about?
stranger590 2 years ago
hehe You clean ass.. your money is safe. No one is touching your pennies.
NewRemorse 2 years ago
I just got a suspcious late fee of 39.00,
from a credit card that is under Citi bank. I only owe 520.00. Yet Ive never had a late fee, thus they have increase my min payment of 20.00, to 54.00. For one thing, Citi bank went belly up and got a bail out of 20 billion I think. I'm calling them tomorrow to get this reverse, there not gonna screw me, that's for sure >:( They will get that back down to 20.00, or they want recieve another payment from me.
vox2007 2 years ago
History will prove this man will go down as one of our Greatest Presidents!
(and he didn't cause this crisis)
mikewiz316 2 years ago
so just because he didn't cause the crisis he will be remember as one of our greates president's?
bush was hated because he lied to us, he got us in to the war lied lied lied
Sebamb970 2 years ago
are you being sarcastic?
i'm conservative by the way, not trying to make you feel stupid
viperdawg41192 2 years ago
man or sould i call you monkey face youre the one whos to blame bitch
coolgang1234567 2 years ago
01;06. the root cause of ALL the crap that is"happening" is his masters pulling the strings on all their puppets, republican and democrate alike. final goal, one world leader, new world order. complete control of the sheepple...wake up!, stop focussing on the puppet's, do some research on their master's, like the illuminat,the builderburg group, the rothchild's,etc.etc. check out, arron russo, and listen to someone who had inside info...
TCostellos 2 years ago
For those who are so quick to join the Hate Bush chorus, if you actually listened to what he actually said, you might have learned something about our financial status and how it came about. No one person is responsible for this. There was a systemic breakdown of the lender-borrwer relationship. If you can't afford it, don't take out the loan. Don't write the loan if you know the deadbeat can't pay it back.
fingerbang666 2 years ago
BRAVO. BRAVO. .....applause.....Now get to work and give me my money.
7514328 2 years ago
This was Bush's best speech. I actually learned something from this address.
Saban1983 3 years ago
BYE BYE MR STUPID
grodvil 3 years ago
Well Obama is in office and look how fucked up the country and financial situation is. Congress is also controlled by dumbocrats. Still waiting for a fix......Any fresh ideas??? Fucking idiots...
Pendragon1717 3 years ago
This has been flagged as spam show
ALERT: The US-MEXICO borders are very sensitive area, it should be stood by the US troops like most countries & USA must create a DMZ!!! otherwise the USA will be falling OFF to the Ocean. (be invaded)
MEXICO would become the Most Base of Terrorist-Gangs Smugglers Country in the World including Illegal Aliens-Crossing, Sneaking into the USA. (Millions# illegals inside the USA already) Time is Running Out.
MEXICO is Number 1 Crime & Terror in the USA.
jtx1bx 3 years ago
According to AOL Quiz, not seems pro Bush site:
Bush inherited a budget surplus of 128 billion when his presidency began. He leaves with a record budget deficit of 485.2 billion.
The deficit swelled to 485.2 billion in first three months of fiscal year that started Oct.1, the treasury announced on Jan.13 2009.
As I see it, the surplus from Clinton wasn't a lot. And 911 & Katrina combine could be 300 billion, let alone Iraq War.
If try to pin 5 trillion, think first, where it has been spend.
hkslee 3 years ago
Bush, you are, if not, THE WORST PRESIDENT IN HISTORY!!!!! you are so full of crap and you're an asshole, who doesn't know which way is up or which way is down. words can't explain how happy i am and relieved that you will no longer be our president. You're a coward and a liar!!!!!
guitarbabe21 3 years ago
Jimmy Carter was by far the worst President we have ever had and you are truly uneducated. He dealt with terrorists and befriended the worst terrorist leader, Khomeini. He assisted the Islamic Republic of Iran and Muslim terror that eventually spread across the world. Terrorist activity has been around for awhile in our country. Because Bill Clinton did not do shit in office as soon as George enters, our country is attacked by terrorists and he was put to blame.
cactusman3000 3 years ago
i dont believe crap wat u say stop reading the script!!!!!!!!!!
jorgediaz2010 3 years ago
I know this would be hard to do, but imagine if all those guys who are in Iraq were here at home working in factory jobs that didn't get outsourced to other countries in order to get a tax break for reinforcing the mandate to help foreign trade. They could have been buying and living in the houses that would have enventually had to go down in price, since the housing market got stupid with prices at the whim of the mortgage trade (again the banks). We wouldn't have a crisis.
azmildman 3 years ago
Reaganomics, my ass. He should have said, "Seven years ago I was told this would happen but I am rich so I don't care, I knew it wouldn't effect me. I am announcing this as if it just happened beyond my control. Like 9/11, if I had listened to someone besides my reflection in the mirror and the voices I hear that I call Jesus, (I really should have been institutionalized), then this wouldn't have happened, but I stand on the White House lawn and act like I don't understand how this ocurred."
azmildman 3 years ago
Gosh, I'm filled with such pride, George. Gee, you are a model of honesty and decency. I'm so filled with hope now, boss. Now go fuck yourself with your diamond-encrusted dildo you pathetic puppet.
kensho3 3 years ago
What he actually did try to say "now 3 month ago" is.
Dear fellow Americans, we are bankrupt.
upssups 3 years ago
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Kill the fuck.
Roddingtons 3 years ago
This has been flagged as spam show
Saddam Hussein never issued a declaration of war.
Roddingtons 3 years ago
Bush, you have no more credibility left in you. Today, you're just nothing but a mockery in the eyes of the world and even to you're own people. You're a person free to be insulted, to be stepped at. You're a dirty heel. The world will judge you for your war crimes
homer30 3 years ago
This has been flagged as spam show
im bored on cam
energetic fun smart and loves this video 9v
DOMINATER20 3 years ago
That's it, converts to 2008 dollars, 5.6 should be 6.74 trillion.
Paid interest from 2001 to 2008, in trillion respectively, 0.36, 0.33, 0.32, 0.32, 0.35, 0.41, 0.43, 0.45, total 2.97 trillion.(Clinton 8 years, interest paid 2.7 trillion.)
In 8 years, if Bush create zero debt, 6.74 + 2.97 =9.71 trillion. This is created by inflation & interest, not Bush.
If Bush leave office at 10.7 trillion, that is about right, the cost of Iraq war, 911 & Katrina.
Try not to pin 5 trillion on some one, ok?
hkslee 3 years ago
The expired Bush tax cuts will go from 36 to 39% Bush missed the target He got he wrong man.
123demaio 3 years ago
When Bush took office, the national debt, accumulated since the founding of the nation, stood at $5.6 trillion. Today it approaches $9 trillion. By the time Bush leaves office, it will exceed $11 trillion. In only eight years, he will have created more debt than all other U.S. presidents combined.
123demaio 3 years ago
Most people including both houses of Democrats used the 5.6 & 9.6 Trillion, either it is plain deceiving or ignorance. $1 then is not $1 now. (5.6 should be 6.4 to 6.7).
Converts to 2005 dollars.
Debt in trillion - Debt % of GDP average to end of term.
2.2 - 36.4% Nixon Ford, within 1.8 trillion is historic.
0.1 - 34.3% Carter.
2.5 - 42.9% Reagan, Soviet end, worth it.
1.3 - 58.5% Bush.
0.6 - 64.5% Clinton, cut military.
2.9 - 63.0% Bush, a lot happened, if democracy take hold, worth it
hkslee 3 years ago
If in 2005 dollars, 5.6 should be 6.4 to 6.7.
If Bush took office at 6.4, creates zero debt in 8 years, even with 3% interest, 6.4 will exceed 8 trillion.
If Bush leaves office at 9.6 or 10 trillion, he should responsible for 1.6 or 2 trillion. He should responsible more if not the democrats & 80% of medias undermined his policy & credibility for politic.
Should tend to economy grow than debt. See Carter.
If GDP exceed debt grow rate, debt reduce. If grow equally, remain constant, still ok.
hkslee 3 years ago
His socialized banking system has failed .. He should of read and asked help to understand before signing any housing bill. The cost of a war he started caused instability in a market damaged already by 911 and cooking the books. you can't remove a great risk.. not even repair it. habbits of greed in must change first.. land speculation caused the great depression as the housing defalt caused this one..
123demaio 3 years ago
For the record, of course America is not God. This country needs to get right with God NOW! Otherwise, those who have not been saved will be destroyed. God does not nor has He ever wanted that. He would love it if all would turn from their wicked ways and turn back to Him, accept Jesus, the Messiah, His Son, as Lord and Savior...but the majority refuses to do it and instead follow the father of lies--Satan, who steals, kills, and destroys. "The wages of sin is death..."
mpr4christ 3 years ago