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"When the historians chart the turning point for the US as a world power, they will focus on Bush and his Iraq War."

I disagree.

I think the turning point was the corporate takeover of government under Reagan in the 80's followed by Newt Gingrich's "Contract with America" in the 90's, followed by Clinton's agreement with Congress to repeal Glass-Steagall followed by the Bush presidency which completed the corporate takeover of the entire country - presidency, Congress and Supreme Court.
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