For the last time the recession was due to Clinton putting pressure on lenders to let people buy houses that they could not afford which caused the housing market to crash which in turn caused everything to crash
Keep telling yourself that. Just ignore the deregulation that allowed that situation, ignore the tax cuts and the unfunded wars that drove the country into debt, keep ignoring the years of the fully controlled presidency and congress by the Republicans that led to the economic crash. President Bush inherited a booming economy and a surplus, and by the end of his 8 years, left us with an economy on the verge of a depression, and a brand new huge national debt.
Look at the facts more houses were being bought under Clinton because he wanted to give people a chance but those people were buying houses under an inflated market which was going to bust
Silly me. I told him sarcastically to ignore all the facts, and stick to his misguided talking points, and he took me literally. It's very easy to point to one event and blame the entire economic disaster of the mid 2000's on it. Especially when the research and explanation of the housing bubble is far more convoluted. Phil Graham's (Texas-R) 1999 legislation to deregulate the banks undoubtably assisted in the creation of the 2001-2006 housing bubble, but it was by no means the only factor. Yes there were pushes by the Federal Government during the Clinton years to improve housing, but these were accelerated in the Bush years. The Clinton economy was strong enough to support this push, but the Bush economy, lacerated by tax cuts and an unfunded war, was not, especially when the rules keeping the banks responsible were loosened or done away with altogether (deregulation). Let's not even start with discussing the interest rate games played in the early to mid 2000's. And just for the record on facts, home ownership was at its peak in 2004, which coincided with the 2004 Bush re-election campaign slogan "The Ownership Society" which helped promote the home owner "mania," which was a major contributor to the boom and bust. The housing crisis had a lot of causes and effects. It does not explain the economic disaster that was the Bush years, and it can't be blamed on just one party or president.