The Conservative Edge began writing about the causes of what we now know as the Great Recession two years ago. At the time, the argument fell of deaf ears because conservatives and Republicans were fooling themselves that there was no recession. They continued deluding themselves until the great financial meltdown in September of 2008. Then, they went into shell shock and could only respond to Barack Obama’s false assertion that Bush caused the economic meltdown (Bush was actually labled the lamest of lame ducks, who was irrelevant, following the liberal takeover of Congress in 2006) with “I am not George Bush, and I didn’t like his policies anyhow”.
Now, liberals are unwittingly compiling the proof that it was them, and not Bush and certainly not conservative economic principles that caused the Great recession. Fareed Zacharias writing in the Washington Post about Barack Obama’s “CEO problem” had this to say on Monday:
“But government spending can only be a bridge to private-sector investment. The key to a sustainable recovery and robust economic growth is to get companies investing in America. So why are they reluctant, despite having mounds of cash? I put this question to a series of business leaders, all of whom were expansive on the topic yet did not want to be quoted by name, for fear of offending people in Washington.
Economic uncertainty was the primary cause of their caution. “We’ve just been through a tsunami and that produces caution,” one told me. But in addition to economics, they kept talking about politics, about the uncertainty surrounding regulations and taxes. Some have even begun to speak out publicly. Jeffrey Immelt, chief executive of General Electric, complained Friday that government was not in sync with entrepreneurs. The Business Roundtable, which had supported the Obama administration, has begun to complain about the myriad laws and regulations being cooked up in Washington.
One CEO told me, “Almost every agency we deal with has announced some expansion of its authority, which naturally makes me concerned about what’s in store for us for the future.” Another pointed out that between the health-care bill, financial reform and possibly cap-and-trade, his company had lawyers working day and night to figure out the implications of all these new regulations. Lobbyists have been delighted by all this activity. “[Obama] exaggerates our power, but he increases demand for our services,” superlobbyist Tony Podesta told the New York Times.”
In my brilliant 2008 column entitled “It’s Time for Conservatives to play to pin This Recession on the Donkeys“, written on July 3rd, 2008, I outlined how the liberal takeover of Congress, and other liberal policies brought about the shallow recession that eventually became the Great Recession. Included in that outline were the liberal’s new proposed business regulations and taxes. Those liberal economic policies along with the mandatory across the board wage increases triggered by higher minimum wage that the liberals pushed into law, caused the economy to fall into recession by late 2007.
From there it was just a liberal “global warming” scare and the liberals much desired $4.00 a gallon gasoline, to the economic hard landing in the spring of 2008 that triggered the “liberal government mandatory lending policy” created financial meltdown. Since then, the liberals have only made things worse.
In time, GOP candidates for office may gravitate to The Conservative Edge when it comes to pinning the Great Recesion on the Donkeys. Until then, the liberals appear to be unwitting accomplises to their own political funeral.