Romney: Bush saved U.S. from another Great Depression

By Eric W. Dolan
Wednesday, March 21, 2012 18:21 EDT
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Mitt Romney on the campaign trail. Image via AFP.
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Former Massachussets Gov. Mitt Romney said Wednesday at a town hall meeting in Maryland that George W. Bush deserved credit for preventing the United States from entering an economic depression, not President Barack Obama.

“I keep hearing the president say that he’s responsible for keeping America from going into a Great Depression,” Romney said. “No, no no. That was President George W. Bush and Hank Paulson that stepped in and kept that from happening.”

Romney has said he supported the Troubled Asset Recovery Program (TARP), the controversial $700 billion dollar bank bailout enacted in 2008 in response to the subprime mortgage crisis.

But Romney opposed Obama’s plan to bail out the auto giants General Motors and Chrysler with federal funds, a program that is credited with saving the two firms.

Obama’s economic stimulus program has become one of the most popular Republican targets since he took office.

Watch video, courtesy of Talking Points Memo, below:

Eric W. Dolan
Eric W. Dolan
Eric W. Dolan has served as an editor for Raw Story since August 2010, and is based out of Sacramento, California. He grew up in the suburbs of Chicago and received a Bachelor of Science from Bradley University. Eric is also the publisher and editor of PsyPost. You can follow him on Twitter @ewdolan.
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