Times poll: 75% blame Bush’s policies for deterioriating economy

[minnie61650]

Did President Bush's policies lead us into this recession?

Times poll: 75% blame Bush’s policies for deterioriating economy
The figure includes large numbers of dissatisfied Republicans and represents a sharp increase in pessimism over the last year. Higher fuel prices have sharpened the criticism.

By Maura Reynolds
June 26, 2008

Three out of four Americans, including large numbers of Republicans, blame President Bush’s economic policies for making the country worse off during the last eight years, according to a Los Angeles Times/Bloomberg poll released today, reflecting a sharp increase in public pessimism during the last year.

Nine percent of respondents said the country’s economic condition has become better off since Bush became president, compared with 75% who said conditions had worsened. Among Republicans, 42% said the country is worse off, while 26% said it is about the same, and only 22% thought economic conditions had improved.

Phillip Thies, a registered Republican and clothing store owner in Cedar, Mich., who was one of those polled, said the president was doing an able job through the Sept. 11, 2001, terrorist attacks but that “right after that, it was steadily, steadily downhill.”

“There has been a lack of leadership and a lack of timeliness of leadership, of not being conscious of the magnitude of the problems,” Thies said of Bush in a follow-up interview. “He’s always a day late and a dollar short.”

“I’m not as well off as I was before he was president and that pertains to all my friends, too, everyone I know,” said Lois Coleman, 84, of Floyds Knobs, Ind., who described herself as an independent.

The economic pessimism has deepened sharply in the last year, intensified by higher fuel prices, the poll found. When the question was asked in March 2007, 24% of respondents said Bush’s policies had improved the nation’s economy and 46% said they had made it worse.

The increased unhappiness is reflected in an all-time low in Bush’s approval rating – just 23% now, compared with 34% in February.

“It is no surprise that Americans are feeling very pessimistic about the economy – with rising gas and oil prices and food prices affecting their pocketbooks,” said Times polling director Susan Pinkus.

“They don’t see an end to the rise in prices… . Americans blame the president, along with the oil companies, for not having done enough to stem the tide of rising gas prices.”

Seventy percent of respondents said the rising cost of fuel had caused hardship for their families and the pain appeared spread across all income groups: 79% of people with incomes of less than $40,000 a year said the higher prices were a hardship, but so did 55% of respondents with incomes above $100,000.

Scott White, 47, a registered Republican from Saco, Maine, said he had to get public assistance twice last year to pay for home heating oil. He said he expects things will get worse before they get better.

“I’m what I call middle-class poor,” said White, who has muscular dystrophy and recently had to stop working because of his disability. “It seems like [President Bush] is not in touch with the American people… . I voted for him both elections, but I wouldn’t vote for him again.”

Asked for their view of the cause of the higher prices, respondents blamed the Bush administration and oil company profits in roughly equal measure – 29% holding the administration responsible and 25% blaming the oil companies, a spread within the poll’s margin of error.

Thirteen percent of those polled said commodities speculators were responsible for the increases; another 14% said they were not sure who was at fault.

Amber Guckenberg, a 28-year-old stay-at-home mom in Kalispell, Mont., said she’s not sure Bush deserves all the blame for rising energy prices, but she wishes he had found a way to rein them in.

“We’ve had to scale back on a lot of things – not going on camping trips, watching what we buy at the grocery store,” Guckenberg said, noting her monthly heating bills now top $300 a month. “This year my kids probably won’t be able to take swimming lessons because I can’t afford it.”

The poll also suggested that public support for a foreclosure rescue bill has weakened some while opposition has strengthened. Only 25% of respondents in a May Times/Bloomberg poll said they opposed government assistance for homeowners, while 36% oppose it now. Just 55% of respondents said they favored such government assistance now, compared to 60% of respondents in the same poll.

“I’m totally opposed to government coming to the aid of individuals who made poor decisions,” said Thies, the clothing store owner from Cedar, Mich. “It’s tough cheese, Charlie.”

While respondents had strong opinions about the state of the economy, they were not sure how to make it better. Asked what the top priority for improving the economy should be, 27% said cutting taxes, 20% said reduce the federal deficit, 13% said fund public programs and 13% volunteered that something should be done to address the price of energy.

All together, 82% of respondents said the economy is doing badly, compared with 71% who felt that way when the question was asked in February. And the pessimism has intensified: 50% of respondents said the economy is doing “very badly,” compared to 38% in February.

The Times/Bloomberg Poll, conducted June 19-23 under Pinkus’ supervision, interviewed 1,233 adults nationwide. The poll’s margin of sampling error is plus or minus three percentage points.

 

[Tink888]

There is A LOT that I think Bush did wrong but I do not believe that his policies are only cause of the state of the economy.

The government, business and everyday American citizens all have a part in this mess we are in.

 

[Mickeyistheman]

I think the biggest issue with the economy that no one really addresses in regards to our former President is both wars that we became involved in.

Wars are expensive and not just the lives lost on both sides.

That takes a toll on the economy as well.

 

[Charade]

Not surprised.

Strangely it was doing fine (after coming back after 9/11) until the Dems took over. Now it's in the crapper. Coincidence?

 

[Mikelly1221]

So..what exactly is the point of yet ANOTHER "bash Bush" thread?

And why is an article that is dated June 2008 important?

 

[AndyLL]

Not surprised.

Strangely it was doing fine (after coming back after 9/11) until the Dems took over. Now it's in the crapper. Coincidence?

1) The loans that are the root of the current problem were made from 2002-2006 (1st half)

2) Much of the strength of the economy at that time were the result of those loans, huge deficit government spending, tax cuts that encouraged profit takening from the market, and Greenspan manipulation of rates to prop up the stock market.

3) The bubble started collapsing in late 2006 and the recession officially started in 2007.

All before the Dems.

The Fed and Treasury are under control of the President which means congress could have done little to affect monetory policy.

Of course any bailout bill that congress would've have proposed in 2007-08 would not have passed the senate much less have been signed by Bush.

 

[basas]

I think the biggest issue with the economy that no one really addresses in regards to our former President is both wars that we became involved in.

Wars are expensive and not just the lives lost on both sides.

That takes a toll on the economy as well.

Wars, generally, help the economy, actually.

I'm not surprised by this poll...but things were doing quite well up until Nov 2006. It's been all down-hill from there.

 

[Family Fun Mom]

Well, duh! EVERYTHING is Bush's fault. Everybody knows that.

When in doubt, blame Bush.

 

[Bobbles]

Well, duh! EVERYTHING is Bush's fault. Everybody knows that.

When in doubt, blame Bush.

Oh please! The right blamed Clinton for just about everything bad for almost 8 years after bush was elected.

Or did the cons forget about that?

 

[travelbug]

So..what exactly is the point of yet ANOTHER "bash Bush" thread?

And why is an article that is dated June 2008 important?

I was wondering the same thing.

 

[bicker]

I'd have thought there would be no surprise about this. Of course today's economic mess is substantially attributable to the administration setting fiscal policy for the previous eight years. My niece would say, "Duh!"

 

[Reah Bourne]

I think the biggest issue with the economy that no one really addresses in regards to our former President is both wars that we became involved in.

Wars are expensive and not just the lives lost on both sides.

That takes a toll on the economy as well.

So far, the "war" is 13 times less expensive than the stimulus bill...and that does not include the interest.

I bet if you ask the same set of people polled what an ARM is or who is Chris Dodd or Barney Frank, or heck even Fannie Mae, they couldnt answer the question.


Everyone wants to talk about "the last 8 years" with regards to the economy, but they forget GWB entered the office in a recession, dealt with the blow to the markets after 9-11 and STILL had success with the economy for 5.5 years (up until the elections of November 2006).

Make no mistake, though, he authorized waaaay to much spending. But it will not be near the spending we are going to be subjected to now.

 

[Reah Bourne]

1) The loans that are the root of the current problem were made from 2002-2006 (1st half)

2) Much of the strength of the economy at that time were the result of those loans, huge deficit government spending, tax cuts that encouraged profit takening from the market, and Greenspan manipulation of rates to prop up the stock market.

3) The bubble started collapsing in late 2006 and the recession officially started in 2007.

All before the Dems.

The Fed and Treasury are under control of the President which means congress could have done little to affect monetory policy.

Of course any bailout bill that congress would've have proposed in 2007-08 would not have passed the senate much less have been signed by Bush.

With regards to the loans, the Administration sounded the alarm on them twice but Frank, Dodd, and Maxine Waters defended them and Fannie Mae/Freddy Mack as being financially sound.

 

[Reah Bourne]

I'd have thought there would be no surprise about this. Of course today's economic mess is substantially attributable to the administration setting fiscal policy for the previous eight years. My niece would say, "Duh!"

If the standard is a child's knowledge of economics and the political system, then it is no suprise you agree with the article's assertion. When more reasonable, and intelligent standards are relied upon (of which you are clearly more than capable of applying), then the opinion changes.

 

[Magic Mom]

Well, duh! EVERYTHING is Bush's fault. Everybody knows that.

When in doubt, blame Bush.

Silly girl, even when there's no doubt it was someone else....blame Bush.

 

[bicker]

If the standard is a child's knowledge of economics and the political system...

The point was that GWB's accountability here is so incredibly obvious that not only 75% of Americans realize it, but even young children realize it.

When more reasonable, and intelligent standards are relied upon..., then the opinion changes.

No, it doesn't. Right-wing Republicans will deny it without thinking; Left-wing Democrats will believe it without thinking; leaving the rest of us in the middle to make an informed, rational decision, i.e., that GWB, who inherited a budget surplus which he quickly turned into deficit, was substantially responsible for our economic woes.

 

[Carly_Roach]

Times poll: 75% blame Bush’s policies for deterioriating economy

The other 25% make up the majority of that 33% approval rating he had right before he left office.

 

[PeterPan09]

Oh please! The right blamed Clinton for just about everything bad for almost 8 years after bush was elected.

Or did the cons forget about that?

They're still blaming Clinton for the housing crisis!

I blame a bunch of people for the mess we're in-politicians of both parties, CEO's, stock traders, consumers....a disaster this large could never have been the work of one person.

I have a co-worker who used to work on Wall Street, he left a few years ago when he saw the writing on the wall. The gravy train was coming to an end. He was telling me yesterday that the weeping and wailing we're all hearing from the Street is the sound of children who had their toys taken away.

 

[Geoff_M]

Times poll: 75% blame Bush’s policies for deterioriating economy

Well, as Bicker's niece says "duh!". The past president is universally "blamed" (or "credited") for the economy on their watch, deserved or not. However, it would have been educational if Time had bothered to ask the surveyees which Bush "policies" were to blame for the bad economy! In reading the article, they appear to think that "high oil prices" was a "Bush policy".

The point was that GWB's accountability here is so incredibly obvious that not only 75% of Americans realize it, but even young children realize it.

Yeah, and to the population at one time it was pretty "obvious" that the Earth was flat too. "Obviousness" isn't "proof". This isn't the say that Bush is a completely innocent man, but you've got to do better than that.

 

[crcormier]

I put my house on the market in 2006, and it took nearly a year to sell, so the housing market burst before 2007.