Posted on 09/10/2009 2:53:45 AM PDT by Scanian
President Obama inherited a mess of an economy. He inherited it from his fellow Democrats in Congress. As it turns out, which party controls Congress, especially the Senate, probably has a lot more impact on the economy than who resides in the White House.
The last time Republicans controlled Congress, unemployment stood at 4.4%, the S&P 500 closed over 1400, and the economy grew at an average of 3% per year over the four years under a Republican Congress.
After two and a half years of Democrats controlling both houses of Congress, the unemployment rate is at 9.7% and teen unemployment is at 25.5%, the highest since it started being tracked in 1948. The S&P 500 lost more than 25% of its value. And real GDP has declined each of the last four quarters and is, in fact, below where it was when Republicans last controlled Congress.
(Excerpt) Read more at americanthinker.com ...
But I thought it was Bush’s fault!
TX for the reality check. Too bad Republicans are afraid to say it.
Remember when the GOP was in charge and people had jobs?
I think that'd make for great campaign slogan.
As if everything is a vaccum. The downturn reflects many things, most importantly the low interest rates by the Fed. Thus creating a housing boom and free money.
Any monkey can grow the economy, with a low interest rate, and now we are paying the piper.
And, where are the private sector jobs? Both parties are to blame, but zealots are doing CYA.
Gov. Wilson left Kali with a surplus too, the RATS ‘’cured’’ that at breakneck speed. Wanna buy some Kali bonds?
Take a look at the increase in the national debt during W’s tenure as president. Something like 60 pct of the increase came in the last two years, when the Dems controlled Congress.
For any Toby Keith fans out there — He has a new song called ‘American Ride.’ In it he says “Look ma, no hands” a few times. He told a radio interviewer that its a shot at Obama for not taking any reponsibility and blaming Bush for everything. LOL.
So what did the DEMs do specifically in those two years to create the derivatives crisis, the housing crisis, the banking crisis? This article smells like BS.
He inherited it from himself. He was a member of that body when the destruction started.
FYI
http://www.youtube.com/watch?v=FIWb8HJ5gLo
Maybe its time to resurrect this old standard. Or maybe this other one here.
http://www.youtube.com/watch?v=FnhKpdgHSO8
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