14 Jul 2023 6:23 pm
such cute little eyes ...........
The last year of Bush's second term was dominated by the Great Recession. GDP declined in the 1st, 3rd, and 4th quarters of 2008 by -2.7%, -1.9% and -8.2%, respectively.Economic policy of the George W. Bush administration
The 2008 financial crisis began with cheap credit and lax lending standards that fueled a housing bubble. When the bubble burst, the banks were left holding trillions of dollars of worthless investments in subprime mortgages. The Great Recession that followed cost many their jobs, their savings, and their homes.
GW Bush left a huge financial disaster behind for Obama to clean up. Thus I believe that this mess required about $7 trillion to to save the economy and keep millions employed somehow.