Mr. 21.5% Prime Rate Criticizes Bush on Economic Crisis

The president who presided over the highest prime rate in history (21.5%), a 444 day hostage crisis, energy problems galore, and who created the Community Reinvestment Act that laid the groundwork for the current mortgage crisis, is trying to blame President Bush:

BRUSSELS (Reuters) - Former President Jimmy [Jimmuh] Carter said on Friday the "atrocious economic policies" of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

Carter told reporters on a stopover in Brussels that "profligate spending," massive borrowing and dramatic tax cuts since President George W. Bush took office in 2001 were behind the market turmoil and economic crisis.

"I think it's because of the atrocious economic policies of the Bush administration," said the 84-year-old Democrat, who served in the White House from 1977-1981 during a period of high inflation and energy crisis.

Tax cuts don't create economic crisis. That's just foolish. It was the liberal housing policies, first started by Carter and continued by Clinton with the aid of various Democrats who blocked reform efforts, that gave us hundreds of billions of dollars in bad loans that have killed major banking and investment institutions and clogged the credit markets.

Jimmuh is a fool.