Following the Dow’s 600-point drop, former President Jimmy Carter had some pointed words for the Bush administration on Friday, blaming the current economic crisis on the “atrocious” policies of the past eight years and declaring the economic situation to be an “entrenched problem” that will “take years to correct”.

Reuters:

Former President Jimmy Carter said on Friday the “atrocious economic policies” of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

Carter told reporters on a stopover in Brussels that “profligate spending,” massive borrowing and dramatic tax cuts since President George W. Bush took office in 2001 were behind the market turmoil and economic crisis.

“I think it’s because of the atrocious economic policies of the Bush administration,” said the 84-year-old Democrat, who served in the White House from 1977-1981 during a period of high inflation and energy crisis.

Whoever wins next month’s U.S. presidential election would inherit economic problems that would force them to postpone implementing some of their proposed reforms, he said.

Read more

 Your support matters…

Independent journalism is under threat and overshadowed by heavily funded mainstream media.

You can help level the playing field. Become a member.

Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.

Give today to support our courageous, independent journalists.

SUPPORT TRUTHDIG
In this Article:
#blame#crisis#economics#finance#george w bush#jimmy carter#lol#taxes