What is the cause for the current recession?

That is the question that has become worth 6.2% of America's GDP.

Democrats are responsible for causing this crisis:

Former President Bill Clinton placed significant pressure on Fannie Mae to increase lending to "low and moderate income people," as a September 30, 1999 New York Times article reported. Those who bash George W. Bush as having deregulated the financial sector should realize that Clinton repealed part of the Glass-Staegall Act, which had been in place since 1933. Former President Jimmy Carter, who presided over the highest interest and unemployment rates since the Great Depression, signed the Community Reinvestment Act in 1977. The Act 'encouraged' subprime lending, especially lending into what many proponents of the Act called "communities of color" with less regard for the potential loan recipients' financial standing.

Both Democrats and Republicans are responsible for exacerbating and prolonging the crisis, but there is no doubt amongst the knowledgeable and honest (both parts required) as to where the root cause lies. [snip]

The good news is that there is a very easy solution to this problem.

Government: stop the apocalyptic rhetoric and immediately cut taxes.

The bad news is it's showing no interest in doing so.

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