Joe Nocera in today’s New York Times pegs the genesis of the crisis we currently endure:
Has any president in American history left behind as much lasting damage as George W. Bush? In addition to two unfinished wars, he also set us on the path to our current financial mess. The Bush tax cuts, which turned a surplus into a growing deficit, have been disastrous.
And I thought, if for nothing else, the GOP stood for fiscal responsibility. Lower taxes if you want, but not at the expense of solvency.