The Assumptions That Tanked Our Economy

Contrary to all the campaign rhetoric from both parties, the government didn’t cause the recession and can’t do a whole lot to fix it. How a mass lapse in character and critical thinking by thousands of executives tanked our economy.

As the November election looms, we are faced with a nonstop barrage of commentary about the economy. Those trying to unseat an incumbent blast them because the economy has not been fixed or even blame them for the recession. Incumbents claim their programs prevented the economy from getting worse.

There is only one tiny problem with all this political rhetoric. They’re all wrong. This recession was not caused by anything done by the government in any administration or session of congress whether current or past. And the numbers would be the same today even if the other party had been in control.