Saturday, April 11, 2009

The Lost Decade

Take a look at this noteworthy background piece on the Bush years:

The Bush years will be remembered for many things, but above all they represent a lost decade during which American economic might was squandered. The wealth that was generated during the first decade of the millennium was essentially illusory; except for some advances in computing and electronics technology, increases in the value of assets were strictly on paper, based on speculation and, as we’ve discovered, Ponzi schemes.

It didn’t have to be this way. Our current problems are the result of specific policy decisions made by the Bush Administration, and a public that let them get away with it.

No comments: