Many households are one missed debt payment or serious medical diagnosis away from financial collapse. But you can't lay the blame entirely at the Bush administration's feet.
The nation's prosperity under Bill Clinton sprang from multiple causes, few of which had to do with him. Most were not sustainable. The economy did rebound on a wave of optimism when we finally shook off the grasp of the Reagan era's ill-advised fiscal policies, but the boom that followed was not based on sustainable principles.
Factors like housing starts and a surging real estate industry can't last, because they don't put money in circulation widely enough, and they really just represent tumor growth in humanity's metastatic expansion in already overpopulated areas, and incursions into the few remaining uncrowded ones.
Politicians have a way of standing in front of the rising moon, pointing and saying "look what I did!" Priest magicians have been claiming credit for volcanic eruptions for a long time.
I don't have the answers, but I'd like to see us at least look for them in the right place.
In the meantime, I try to make all my few and carefully chosen debt payments on time and hope to avoid that medical diagnosis.
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