Chuck Schumer Says If It Wasn’t For George W. Bush, We’d Be In A Second Great Depression

Sen Schumer says without President Obama, President Bush, and President Bush’s pick for chairman of the Federal Reserve, Ben Bernanke, the economy could have been worse.

1. Sen. Chuck Schumer (D-NY) listed President George W. Bush as one of three men who saved the United States from a second Great Depression.

J. Scott Applewhite / AP

2. Schumer told The New York Times, “[Federal Reserve Chairman] Ben Bernanke, along with George Bush and Barack Obama, saved us from another Great Depression. Twenty years from now, that’s what history will say about all three of them.”

Josh Reynolds / AP

Jason Reed / Reuters

 

3. Schumer was previously a vocal critic of Bush, criticizing his “disastrous course” in 2008.

4. “On economic issues, Bush was not an ideologue,” Schumer said. “On his most important economic appointment, he showed who he was.” Bush selected Bernanke, a Princeton University economics professor and expert on the Great Depression, as chairman in 2005.

Pool / Getty

5. Obama reappointed Bernanke as chairman in 2009. He is expected to step down from the position later this year.

Alex Wong / AP

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