O man, the truth is far from what you portray it to be. The lions share of blame for the economic meltdown of our economy lays in the hands of Jimmy Carter(D) and Bill Clinton(D). Carter initiated programs which foisted bad lending procedures on the fiduciary institutions and then Clinton took them multiple steps further by making denial of loans, and not JUST loans, but SUBPRIME LOANS to unworthy borrowers a crime, which BTW had several cases prosecuted by Barack Obama, setting a national example to other lenders that if they too failed to make similar bad loans to unqualified borrowers, they'd be similarly prosecuted.

This then led to parceling of junk bond loan packages that were then sold offshore which led in no small part to the global financial collapse.

BTW, while GWB was in office, at several points within his presidency there were Congressional mentions of the pending collapse and the havoc it would reap if these type loans/lending policies weren't curtailed as the Repubs tried in vain to get this issue before Congress for consideration.

However, the then Democratically controlled congress pulled their usual fear mongering BS in stating "The Repubs only care about the fat cats and are hell bent in keeping all Americans from the American dream of home ownership!" and belittled the warnings as attacks on the American middle class, quite successfully, I might add. Then the whole thing was quickly swept under the congressional rug after the congress REFUSED to even hold hearings on the matter ..... and was DAMNED SURE downplayed even further when all these bad loans went into default, setting into motion the domino effect globally!

GWB was a US president who just happened to be in office when the chickens finally came home to roost from these ridiculous lending practices, which then continued to unfold after Obama came into office. The difference however is that Obama has made a bad situation even worse through bad financial policies that were stated over and over to have historically proven themselves ineffective and even counterproductive.

To see the folly of his policies just ask yourself this O man : If you have $100 in the bank and no realistic hope that the balance would appreciably accrue anytime soon, would it seem practical to slap $1000 onto a credit card you know you couldn't reasonably expect to pay back, or worse yet the reality is that you'd then expect totally uninvolved parties to pay it back FOR YOU instead?

If that seems to make sense to you then it would seem you are lock-step in line with the lunacy Obama and the again Democratically controlled congress enacted with their "stimulus" spending

BTW, in case you actually read this far PJ, good for you, but I won't hold my breath that you'll "get it" anyway