The “House” has more influence than any other part of government regards spending: http://en.wikipedia.org/wiki/United_States_House_elections,_2006
http://en.wikipedia.org/wiki/United_States_Senate_elections,_2006
So, now the Democrats with their President, their House and Senate since 2006, a majority that can ram whatever they want down the throat of any opposition since 2008, are blaming the spending, economy, and financial melt down on the Republicans. I'm sure Barney Franks also blames the mortgage crisis on the Republicans too!
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While I do not agree with what happened regards spending under Bush, what many Conservatives don't understand (IMHO) is that he actually wasn't the “big spender” he was made out as. He simply had a war, stalling economy in 2001 after 911, and faced a Congress that he HAD to make compromises with.
Let’s plug in some numbers and see what patterns develop.
November 1992: Clinton elected President - Dow = 3240
November 1994: Republicans retake control of the House and Senate - Dow = 3807
June 2001: Jumpin’ Jim Jeffords gives control of the Senate to the Democrats - Dow = 10,990
November 2002: Republicans retake Senate - Dow = 8537
November 2006: Democrats retake control of House & Senate - Dow = 12,342
November 2008: Obama elected President - Dow = 8943
Today, four months since Obama was elected President - Dow = 6626.
Let’s review. During the first two years of Clinton, while the Democrats retained control of the House and Senate, the Dow increased but was relatively flat.
In 1994, the Republicans took control of the House and Senate. The Dow exploded, increasing at an annual rate of almost 18% per year for the next 6 & 1/2 years, the entire period while the Republicans remained in control.
In June 2001, the Democrats gained control of the Senate. The Dow then plunged at an annual rate of almost -16% until November 2002, when the Republicans regained control of the Senate.
From November 2002, until November 2006, the Dow increased at a rate of over 20% per year, until the Democrats regained control of both the House and the Senate.
In November 2006, the Democrats regained control of both the House and Senate. During the first two years of Democrat control (from November 2006 to November 2008), the Dow plunged at an annual rate of almost -15% per year. Since the Democrats gained control of the House and Senate in November 2006, the Dow has dropped over 46% or a total of over 5700 points.
Since Obama was elected President, the Democrat controlled plunge in the Dow has accelerated, and the Dow is now down over 25% in the four months since election day.
Anyone else notice a pattern here?
Republican Control = Bull Market and Prosperity
Democrat Control = Bear Market and Depression
It is not hard to do the math.