country recess

America’s great housing divide: Are you a winner or loser?

The overall U.S. housing market has recovered from the crisis that plunged the country into recession. But a new analysis by The Washington Post shows that the recovery has been deeply uneven, creating winners and losers along lines of race, income and geography.

See the full graphic and search for your neighborhood.

You don’t need a Ph.D. in economics to remember the history of the last quarter-century. Bill Clinton raised taxes, and Republicans said the country would plunge into recession and the deficit would balloon; instead we had one of the best periods of growth in American history and we actually got to federal budget surplus. Then George W. Bush cut taxes, and Republicans said we’d enter economic nirvana; instead there was incredibly weak job growth culminating in the Great Recession. Barack Obama raised taxes, and Republicans said it would produce economic disaster; instead the deficit was slashed and millions of jobs were created.
—  We don’t actually have to argue about whether the Republican tax plan will increase the deficit, because the theory behind it has been tested again and again, and the results are obvious.

When George W. Bush was president, the deadliest attack on American soil occurred, despite his administration having prior intelligence suggesting not only that it would occur but the nature of how it would. After this, Bush drove the country into deep debt by starting a war under false pretenses in which tens of thousands of lives were lost and a country was destabilized leading to the formation and enhancing of terror groups that are still an issue today. His administration’s lack of oversight and regulation was a large factor in the wildly speculative and in many cases outright criminal behavior that led to the mortgage crisis that put the country in a recession and a lot of people out of their homes. Bush created a tax plan that not only increased the national debt, but specifically favored corporations and people with the highest incomes, which furthered the income inequality that was already getting out of hand in this country. Bush and his Republican congress presided over the creation of the Patriot Act and PRISM which gave the government massive power to invade privacy and which the NSA abused to spy on innocent people for years before Snowden’s leak. 

My point here is that George W. Bush was an absolute disaster of a President. He destroyed the economy, sent thousands of young people to die or be injured physically and mentally in a false war, turned a surplus into a massive deficit, and signed terrible things into law that still affect us today. If Donald Trump becomes president and can top all that, I would actually be surprised.