- Presidents do not make laws. In particular, they have no ability to assess taxes. That is congress.
- Yes, the current president is an idiot. But if you want to blame the whole housing crisis collapse on a president (and ignore the first point) then you have to put it on Clinton. Yes, he (congress) did a lot to influence a balanced budget. I commend him on that. But he (or, like I said, the congress that was in session during his presidency) bolstered the Community Reinvestment Act1 -- you know -- the legislation that mandated the housing crisis.
- The economy will turn up. It always does. Whomever gets elected next will get credit. And the credit is not theirs to own. I say this not knowing who is going to win. But one of them will say in 4 years "are you better off today than you were in the housing/banking crisis of 2008?" and invariably people will say "yes." It ain't his fault that it gets better. I am warning you now.
1Interestingly enough, I heard reference to this on mainstream media for the absolute first time yesterday -- though I have been talking/reading about it for months. Of course, the interviewer ignored it, so it was only a tiny blurb.