EDITOR:
Not sure where some of the people writing letters to the editor were during the Bush Administration. Were they out of the country, sleeping for eight years or just listening to Fox Cable News that was telling them the only problems we had were the people who were questioning the direction the Bush Administration was taking this country?
Some highlights from the Bush Administration:
Bush entered office with a projected surplus. In his first year, with his tax cuts to the wealthy in place, he turned our projected surplus into our largest deficit at the time.
In Bush's first six years in office, with the help of the Republican led Congress, he signed two bills for tax cuts to the wealthy (passed by reconciliation in the Senate) that added almost a trillion dollars to our debt alone. Some might call that re-distribution of wealth.
Under Bush our deficit grew from $5.6 trillion in 2000 to $10.7 trillion in 2008. Why? Because he could...
How did the Bush Administration pay for its tax cuts to the wealthy and its other spending policies? By borrowing money from the Chinese...
The financial sector was allowed to run wild under the philosophy of "markets will regulate themselves." The Credit Default Swap sector alone grew from $144 billion in 2000 to over $62 trillion in 2008, unchecked, unregulated and unsustainable.
So here we are today, fighting two wars, with record deficits, our worse economic crisis since the Great Depression, huge debt to the Chinese and it apparently all happened in one day, the day Obama was sworn into office.
Irene Gutierrez
Gardnerville
