Monday, March 16, 2009

Cheney Defends Bush

Former Republican Vice-President Dick Cheney made a rare appearance on a talk show Sunday, March 15,2009 in order to refute the known facts that the Republican Bush Administration was at the helm of the Unites States Executive Branch at the beginning of the economic collapse that is now besieging the American Economy. Mr. Cheney denying reality said that the Economic Collapse was not caused by Bush Administration policies and that it was beyond the control of the Administration because it was a global recession.

Mr. Cheney must have forgotten the rhetoric that the Administration was using throughout their tenure in claiming right up through the Presidential Election of November 2008 that the economy was strong and healthy and growing because of the Bush Administration Policies. In a speech in Arizona on August 1, 2003 when he was campaigning against John Kerry and John Edwards Mr. Cheney said, " The Bush tax cuts have helped our national economy create jobs for 10 consecutive months. We've added more than 1.5 million new jobs since last August. Here in Arizona, more than 62,000 jobs have been created over the last year. Home ownership is now at an all-time high. Mortgage rates, interest rates, and inflation are all low. Consumers are confident, businesses are investing, and families are taking home more of what they earn home. Over the past year, the economy has grown at a strong rate of nearly 5 percent. This is a strong economy, it's growing stronger every day. The Bush tax cuts are working. "

As Mr. Kerry and Mr. Edwards warned during that campaign the Economy soon began a downward spiral which accelerated two years later to the point of that United States Treasury under a plan called TARP had to begin bailing out the Nation's banking system. TARP was formed after the Treasury made arrangements to fund AIG, let Lehman Brothers fail and Bailed out Bear Sterns. Contrary to Mr. Cheney's statements the Bush Administration WAS very involved and responsible for the current economic downturn.

The Bush Administration used deficit spending to fund TWO invasions of Sovereign Nations while continuing to cut taxes for the most wealthy individuals and corporations, thus stripping the United States Government of needed revenue. The fallacy that tax cuts for the wealthy creates jobs has been disproved from the Administration of Ronald Reagan right through the Administration of George W. Bush. What the Bush tax cuts accomplished was the largest deficit in U.S. History. The Bush Administration left the economy and the Nation in far worse shape than even the Obama Administration would like to admit.

Even after bringing the Nation to the edge of economic doom, Mr. Cheney would like the American People to believe that the Bush Administration grew the economy, it is simply not true.
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