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

Tell Us What You Think

More News Stories

Half of Bernie Sanders’ supporters will end up voting for Donald Trump in this year’s general election, a spokeswoman for the apparent Republican...

A man from Pennsylvania decided to bring his wife on a little outing to a county fair, but he was worried that the woman, who suffers from...

Social media fell into a veritable tizzy over the weekend, and this time it wasn’t because of something the president had to say. A portrait of...

Police in California are still investigating a kidnapping case in which a wife and mother says she was abducted by two Hispanic women. A blog in...

Houston couple Angela Huckaby and James Moehle are shocked with the behavior of an American Airlines employee and have demanded an apology.

...