This is what radicalized right wing nut jobs like yourself love to parrot but it doesn't hold water. If it were true, we would've seen the effect soon after, not eight years later.
Did you bother to read my Bush Jr quotes about his American Dream Downpayment Act? OK, I'll post it again and ask you this: Do you think Bush Jr deserves any amount of blame for the 2008 mortgage crisis and economic collapse?
2003: Bush Jr signs the American Dream Downpayment Act:
https://georgewbush-whitehouse.archi...0031216-9.html
2004: The housing bubble starts. Millions of low income people buy homes they can't afford because Bush Jr pressured the banks to give them no-downpayment loans.
2007: Millions of low-income homeowners default (walk away) on their mortgages, putting pressure on banks holding the Lons.
2008: The crisis snowballs and the economy tanks.
Bush Jr: "Last year I set a goal to add 5.5 million new minority homeowners in America by the end of the decade. That is an attainable goal; that is an essential goal. And we're making progress toward that goal. In the past 18 months, more than 1 million minority families have become homeowners. (Applause.) And there's more that we can do to achieve the goal. The law I sign today will help us build on this progress in a very practical way.
Many people are able to afford a monthly mortgage payment, but are unable to make the down payment. So this legislation will authorize $200 million per year in down payment assistance to at least 40,000 low-income families. These funds will help American families achieve their goals, and at the same time, strengthen our communities."
Read it and weep:
https://www.nytimes.com/2008/12/21/business/21admin.html?pagewanted=all&_r=0
From his earliest days in office, Mr. Bush paired his belief that Americans do best when they own their own home with his conviction that markets do best when let alone.
He pushed hard to expand homeownership, especially among minorities, an initiative that dovetailed with his ambition to expand the Republican tent — and with the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards.
As early as 2006, top advisers to Mr. Bush dismissed warnings from people inside and outside the White House that housing prices were inflated and that a foreclosure crisis was looming. And when the economy deteriorated, Mr. Bush and his team misdiagnosed the reasons and scope of the downturn; as recently as February, for example, Mr. Bush was still calling it a “rough patch.”
The result was a series of piecemeal policy prescriptions that lagged behind the escalating crisis.
“There is no question we did not recognize the severity of the problems,” said Al Hubbard, Mr. Bush’s former chief economics adviser, who left the White House in December 2007. “Had we, we would have attacked them.”
Looking back, Keith B. Hennessey, Mr. Bush’s current chief economics adviser, says he and his colleagues did the best they could “with the information we had at the time.” But Mr. Hennessey did say he regretted that the administration did not pay more heed to the dangers of easy lending practices. And both Mr. Paulson and his predecessor, John W. Snow, say the housing push went too far.
“The Bush administration took a lot of pride that homeownership had reached historic highs,” Mr. Snow said in an interview. “But what we forgot in the process was that it has to be done in the context of people being able to afford their house. We now realize there was a high cost.”
Thinks tax cuts have instantaneous results.