is it right?

[Ronin]

No one person even the president of the united states can be blamed for what is going on...

he didn´t help none...that´s for sure....but saying it´s his fault is going too far.

[Seamus Fermanagh]

Administrations do influence the economy, as do various tax/estate/regulatory laws etc. enacted by Congress. At best, government is only one player in a very complex game. The problem is that they think their role to be more central than it can be.

The important thing to remember, in assigning blame, is that there is almost always a multiple-year lag time between government change and economic impact.

E.G. Congress' efforts to promote minority home ownership were begun in the latter-1990s. They did not intend to create a sub-rime lending derivative market...but that is what happened as Wall Street pursued the high basis point return and accepted the risk that went with it. Obviously, 12-15 years later, there are some problems with this. Good on intentions, not so good on long-term unintended consequences.

On the bright side, there's plenty of blame to go around. Congress was controlled by the GOP at the time, so they signed off on it even though the Dems led. Then, with GB43, a GOP admin pushed to continue these programs with Congressional Dem support against those who sought to reign in FM & FM. Then, the "money is the greatest game" crowd packaged all the debts into seemingly lucrative bundles of joy -- and lots of folks bought into it.