Saturday, Aug. 1, 2009 | 2:04 a.m.
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Six months into President Barack Obama’s administration, the Republican National Committee has decided to blanket Nevada with TV ads that blame him for the bank and auto bailouts, and criticize him because the economy has not recovered instantaneously. At the same time, certain Republican politicians loudly call for truth in reporting and to “stop making things up.”
They must think most folks have very short memories. In September 2008 the Republican-“deregulated” economy unraveled when the Bush administration allowed Lehman Bros. to fail. Next the Bush administration had to rescue AIG and the economy to the tune of $80 billion. Finally, the Bush administration determined that almost every major bank in the U.S. was close to collapse — $750 billion was needed right away, or else!
Then, in December 2008, General Motors and Chrysler were on the verge of liquidation; Congress could do nothing because of Republican calls for bankruptcy. So the Bush administration decided to give them $20 billion — to push the problem to the next administration — because even George W. Bush recognized that the economy could not survive the loss of both of these companies.
Republicans controlled both houses of Congress from 1995 through 2006 and guided us into the great recession of 2008 with a huge assist from the Bush presidency.
The Republican economic catastrophe of 2008, which had simmered for 14 years and was served cold to America, is all President Obama’s fault? And six months into his administration, what took all that time to cook is not yet fixed? Never mind we pulled back from the brink or that we can see light. The Republican plan remains more of the same, only more!
Where is the truth or a solution in anything the Republican National Committee broadcasts?
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