Just keeps getting worser

This was posted from another site by an observer… It started on October 9, 2007…11 months before our “economic crisis” occured (that was actually created), the Dow hit its highest point ever, closing at 14,164.53 and reaching 14,198.10 intra-day level 2 days later. Unemployment was steady at 4.7%. But things were already being put into place to create the havoc we’ve been experiencing since then. And it all start with an e-mail on January 3,2007. No one has considered this – as it tells the story of WHY GW Bush was so “bad” at the end of his term. The day the Democrats took over was not Jan. 22, 2009, it was actually Jan. 3 ,2007, which was the day the Democrats took over the House of Reps & Senate, at the very start of the 110th Congress. The Dem Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995. For those who still listen to the liberals propagate the fallacy that everything was GW’s fault…Jan. 3, 2007 was the day Dems took over the Congress, and at the time, the Dow was closed at 12,621.77; the GDP for the previous quarterwas 3.5%; the unemployment rate was 4.6%. Bush’s economic policies set a record of 52 straight months of job growth.
Also, remember…Jan. 3, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee. The “economic melt down” that happened 15 months later was in WHAT part of the economy?? BANKING & FINANCIAL SERVICES! Add unemployment to this CRISIS (among many other things) dumping 5-6 trillion dollars of toxic loans on the economy from Fannie Mae& Freddie Mac FIASCOES! Bush had asked Congress 17 times to stop F.Mae & F. Mac in 2001 because it was financially risky for the US economy. And WHO took the THIRD highest pay-off from F. Mae & F. Mac?? Barak H. Obama! And WHO fought against reform of F. Mae & F. Mac? Barak H. Obama and the Democrat Congress!!
So…When someone tries to blame GW Bush…remember Jan. 3, 2007…THE DAY THE DEMOCRATS TOOK OVER!! Budgets DO NOT come from the White House. They come from CONGRESS and the PARTY that controls Congress…in this case since January 2007…it has been the DEMOCRAT PARTY!! Furthermore, Dems controlled the budget process for 2008 & 2009 as well as 2010 & 2011. In that first year, they had to contend with GWB which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.
For 2007 though, Nancy Pelosi & Harry Reid bypassed Bush entirely, passing continuous resolutions to keep the government running until Obama could take office. Then in 2009 they passed a massive omnibus bill to complete the 2009 budget. And wherewas Mr. Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009. If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in 5 years & the 4th straight decline in deficit spending. After that, Democrats in Congress were to control ALL spending, and that included Obama who voted for the budgets. So…if Barak H. Obama inherited anything, he “inherited” it from himself. In a nut-shell,what Mr.Obama has been actually saying is “I inherited a deficit that “I” voted for, and then “I” voted to expand that deficit four-fold since January 20, 2009.

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About drrik

3rd career and 2nd childhood. Spends spare time repairing old things. Aspires to burn more gasoline, gunpowder, and ink in pursuit of slowing down. Child of the 60s and aspiring student of history. No desire to see us repeat the failed social experiments that keep failing for lack of human beings that meet the left wing standards and have to be killed off. Did engineering long enough to realize that very little is new and the wheel does not need to be reinvented.
This entry was posted in constitutional, economy, election, mainstream media, Obama, socialism and tagged , , , , , . Bookmark the permalink.

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