The study specifically states..
Oh, the downturn first started with “correction of an excess in the housing stock and a sharp increase in energy prices” — the housing bust and the oil shock. Indeed, those two things were enough, in Hetzel’s view, to cause a “moderate recession” beginning in December 2007.
Considering the energy spike was pretty much caused by criminal behavior of the unchecked energy sector, that alone implicates Bush having caused a substantial portion of the mess… geesh.. get your own articles straight!
(Source: , via wherelibertydwells)