What's there to refute. He doesn't even try to make any serious economic arguments to support his opinion even though the whole purpose of his submission is to divert any blame for the economy away from Obama. His whole premise is wrong. It's nothing but a liberal rant to blame Bush and the conservatives for all our economic woes. He's just like Obama. The private sector is evil and the government is here to save us. He says the private sector caused this economic recession. Give me a break. Even if you accept the premise that all lenders are greedy, we never could have had the housing bubble and all the issues with derivatives, CDOs, etc. unless government policy was creating the environment for those problems to grow in, including the Fed making credit so cheap with artificially low interest rates.
Yes, some jobs are created by wealthy business owners, but a lot of jobs are created by small business owners and I don’t think that high a percentage of them are considered wealthy. As far as businesses themselves being at fault for not creating more jobs, baloney. It is a high degree of uncertainty about regulations and taxes that is causing businesses to hold back, despite what this guy thinks. You think most businesses can successfully operate by the seat of their pants and expect to survive for long? With Congress writing monstrous laws that they don’t even bother to read ahead of time or know what’s in them, of course businesses are going to hold back from hiring until they see how things shake out. They have to plan for the future to be successful and the government is making it much too hard for them to do that planning.
This guy wants to blame the deficits on Bush and his tax cuts while totally ignoring the issue of spending by Congress . That’s enough to show his inability to think logically. We can double our taxes and if Congress increases spending fourfold based upon projected increases in tax revenue, what good will it have done us? And I'm not even a Bush fan by the way.