Pelosi: We were given an economy in the “depths of hell” (We know better)

Hot Air.com ^ | September 23, 2012 | Erika Johnson

[Kaslin]

Well, gee whiz — in a press conference earlier this week, House Minority Leader Nancy Pelosi yet again brought out the over-the-top dramatics the blame all of President Obama’s ‘inherited’ economic problems on ‘the previous administration.’ This level of political pageantry is right up there with the ‘Republicans hate clean air and clean water’ she likes to trot out at every available opportunity:

Four years ago on September 18 – read it, I won’t go into all the details, except to bottom-line it — we had a meeting in the Speaker’s office in the Capitol — bipartisan, bicameral — at which the secretary of the Treasury described a situation of our economy and our financial institutions that was so dire. He took us to the depths of Hell, a place so low that even Dante couldn’t find it — make a circle down there, it was so low. …Four years ago and two days ago the chairman of the Fed said if we don’t act immediately we will not have an economy — after hearing the description and knowing the crisis we were in as a result of the policies of the Bush administration. So for them [Republicans] to have the unmitigated gall to ask the question, ‘Are your better off now than you were four years ago?’ when they had taken us to the brink of a great depression, a meltdown of our financial institutions, deep indebtedness, deepening the national debt to the point that if we didn’t act immediately we wouldn’t have an economy — an economy by Monday. I mean, this election is urgent, because what are they advocating? Going back to the same tax breaks for the rich that got us here in the first place.

So, nothing too out of the ordinary for her, but I need to take a beat and reflect on this because, once again, I find myself absolutely flabbergasted about the Democrats’ strategery in this race. This is it, guys — this is all they have to go on, and it is nothing short of pathetic. Blame Bush; Republican obstructionism; and tax breaks for millionaires. Translation? Not our fault; nothing we could do about it; low-rent populism.

The Democrats had two full years in which they had all the sweet time in the world to do whatever they wanted, during which they chose to pass massive behemoths of unpopular healthcare legislation and financial regulation and stimuli, and President Obama promised we’d see unemployment fall below eight percent.

Yet, lo and behold, here we are: Stagnant. Weaksauce economic growth, increased welfare-program participation, and joblessness have been the hallmarks of this administration’s policies, and the fact that the Democrats have so few of their own positives to tout and instead have to resort to all this mind-bogglingly stupid scapegoatism should be very, very telling.

I mean, come on — ‘tax breaks for the rich that got us here in the first place’? As if low taxes are a bad thing, because low taxes can’t pay for all the government the Democrats want? Sorry, but I’ll take less government, not higher taxes, thanks.

[TribalPrincess2U]

We’re not that stupid, BEO*CH!

[Ken522]

Nancy needs to go to confession for the LIE she told in this interview; this LIE is a MORTAL SIN!

[El Cid]

The Dems controlled both houses of Congress from 2007 through 2010. They did what they could beginning in 2007 to trash the economy (from Pelosi almost single handedly starting an energy crisis, to Schumer starting the run on Financial stocks) to ensure a Dem got elected as President.
All for power.

[theDentist]

Quit whining you old frigid scarecrow.

[Maceman]

Any person who attains the position of Speaker of the House, and then tells the American people that “we have to pass bill so you can find out what’s in it,” should never be taken seriously by anybody about anything.

[Liz]

In a fair accounting, President Obama is responsible (along with the then-Democratic Congress) for the $1.3 trillion in deficit spending in 2010 and the estimated $1.6 trillion in deficit spending in 2011. He [Obama] should not get credit, moreover, for the $149 billion in TARP (Troubled Asset Relief Program) repayments made in 2010 and 2011 to cover most of the $154 billion in bank loans that remained unpaid at the end of the 2009 fiscal year—loans that count against President Bush’s 2009 deficit tally.

The Treasury Department says that all but $5 billion of the TARP bank loans has now been repaid. The portion of repayments that was for loans issued in 2009 should be deducted from Bush’s deficit tally, not credited to Obama as deficit savings. There is some astounding number crunching in this article, and a chart of modern day president’s “average annual deficit spending” ........a frightening conclusion of what happens if Obama has an 8 year term.

graph

[A_Former_Democrat]

Wasn’t she the Speaker then? What was the unemployment rate beginning with her term and at the end?

What were the deficits?

[ROCKLOBSTER]

Pelosi: We were given an economy in the “depths of hell”

Given!

Hell bitch...ya caused it. (We know better)

[MNJohnnie]

Hmm Nancy where were you from 2007 and 2008 when the US economy when from Heaven to Hell?

OH that right YOU WERE SPEAKER OF THE US HOUSE!

[TwelveOfTwenty]

How the Democrats Created the Financial Crisis

Notice that Senator Obama was one of the Democrats who blocked the GOP's efforts to reel in Fannie and Freddie. In other words, President Obama inherited the mortgage meltdown from Senator Obama.

[Brad’s Gramma]

She’s admitting then, that she & her coherts are really stupid?

[posterchild]

The 2008 economy wasn’t Bush’s fault nor Obama’s. It was millions of people thinking that their houses were going to appreciate forever and ever, spiraling upward without bound, and filling them with equity that they could tap for easy cash

Obama and a complicit congress are to blame for the deficit bloating response.

[griswold3]

Her followers are really, really stupid. God help this nation.

[Jaguarmike]

If they have to make excuses, they weren’t successful. The American people don’t believe them.

[Hotlanta Mike]

Which party was in charge of the purse strings beginning in 2006 through 2010?

And by the way, which party defended Fannie Mae/Freddie Mac from being reformed beginning as way back as 2003?

[griswold3]

I almost forgot about Chuck ‘Don’t Blame Me for the IndyMac Failure’ Schumer!!!

[Freddd]

‘we were given’........

NOT HARDLY

She worked hard to make it a place of hell...she negotiated with other Democrats to spend all that money.

Along with her co horts in congress...
Obama
Clinton
Biden

[ROCKLOBSTER]

The 2008 economy wasn’t Bush’s fault nor Obama’s.

Yeah it was. Obama's, and Bill Clinton, and Jimmy Carter, and Barney Frank, and Chris Dodd, and Ben Bernanke, and Tim Geithner and a large cast of RAT operatives who deliberately crashed the system by turning the lending industry into a mockery of itself.

Similarly, they are trying to destroy health insurance by regulating it out of business, they also have been trying to destroy the banking system...and the energy sector, and practically any form of private enterprise.

[musicman]