It was the Bush administration that decided to bail out the banks. Vice President Dick Cheney was among those arguing two years ago that the federal government should help the auto industry. And in 2008 the Bush team successfully pushed for a $168 billion economic stimulus package. Yet “the right-wing collectives fail to apply the socialist label to conservatives Bush and Cheney,” noted Washington Post columnist Colbert King. He concluded: “Averting the collapse of the financial and auto industries — and the U.S. economy — served the country’s best interests. The federal presence in both industries is now being ratcheted down. Bush and Obama were right to act as they did. It’s the singling out and demagoguing of Obama that’s wrong and disgusting.”
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