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Response of Bush Administration to 2001 recession

The response of the Bush Administration to the 2001 recession.

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Response of Bush Administration to 2001 recession
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Bush administration cut taxes
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The Fed cut interest rates in response to the recession
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Incomes didn't keep up with productivity
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Financial innovation made credit cheaper and more widely available
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Many assets bought with cheap credit weren't worth price paid
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People encouraged to live beyond their means
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