Potomac Fever is the blog of the Hamilton College Semester in Washington Program.
Did the past 10 years just not exist or something?
"President George W. Bush, with his bailouts, spending sprees, and new entitlements, abandoned the free market at the behest of Wall Street and drug makers... Make no mistake -- President Bush's Wall Street bailout was probably America's biggest dose of corporate socialism since World War II."
You were referring to Bush's adherence to what Carney dubs "Obamanomics", right?
I'm saying, this is exactly what's happened for, well, all time. But most notably this was just a colossal issue under the Bush administration. Not that it isn't one now, but to just brush off the Bush era as a lead-in for Obama seems shortsighted.
It's irrefutable that Bush's misguided corporate welfarist policies have been amplified under Obama. To say that Bush was responsible for the "biggest dose of corporate socialism since World War II" is hardly brushing it off. He's not writing a history of government-business relations, he's writing a book on Obama-business relations. Obviously he's going to begin by noting that the previous president did the same thing, but on a smaller scale, and then jump into the unprecedented (in peacetime) federal interventions in the private sector undertaken in the last year.
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