I am no fan of President Bush and by extension i have not been a fan of his closest adviser, Karl Rove. After all, despite his “conservative” rhetoric, Bush has been a big-spending liberal who has stolen plays from LBJ’s playbook throughout his presidency.
That said, Rove makes some excellent points in his article in today’s Wall Street Journal on the current economic crisis. As Rove points out:
The housing meltdown is largely a story of greed and irresponsibility made possible by government privilege. If Democrats had granted the Bush administration the regulatory powers it sought, the housing crisis wouldn’t be nearly as severe and the economy as a whole would be better off.
The whole article is worth a read. While I’ll certainly complain about No Child Left Behind, a massive Medicare expansion, lost privacy, and massive government spending growth, Bush is largely not to blame for the housing crisis which precipitated the current economic crisis.