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Ted Cruz: Obama is to Blame For 2008 Financial Crisis

Republican presidential candidate, Senator Ted Cruz recently put the blame of the 2008 financial crisis on President Barack Obama. During a recent event hosted by the U.S. Hispanic Chamber of Commerce, Cruz compared the economic policies of Obama to those of former president Jimmy Carter.

According to Cruz, “Historically, the economy has grown 3.3 percent a year since World War II," he said. "There are only two four-year periods where growth averaged less than 1 percent: 1978 to 1982, coming out of the Jimmy Carter administration, and 2008 to 2012. Same failed economic policies."

Cruz did not select a four-year period that is necessarily representative of the economic policies of Obama since at the beginning of his presidency he was still dealing with the previous administrations' policies. In order to get a more accurate representation of Obama’s policies. Nonetheless, many experts believe that the real unemployment rate is a lot higher than published figures state, especially since many Americans have taken themselves out of the workforce altogether.

Photo: The Mittani

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