Iraq War is Top Underlying Reason Why We are in a Recession

I would also say the new recession is also due to poor regulatory control of the banking and financial corporations in relation to home mortgage and other predatory credit activities, and taxes being far too low on wealthy individuals and Fortune 2000 corporations. The decision by the Bush junta and Congress to run up huge deficits and allow enormous trade imbalances are also at fault.

http://www.motherjones.com/mojoblog/archives/2008/01/6962_this_is_the_ira.html

http://www.motherjones.com/mojoblog/archives/2008/01/6936_a_global_recess.html

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