Posted on 11/04/2010 2:34:46 PM PDT by afraidfortherepublic
Begin...The day the Democrats took over was not January 22nd 2009. It was actually January 3rd 2007, the day the Democrats took over the House of Representatives and the Senate, the start of the 110th Congress. The Democrat(ic) Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.
For those who are listening to the liberals propagating the fallacy that everything is "Bush's Fault", think about this: January 3rd, 2007 was the day the Democrats took over the Senate and the Congress!
At the time: The DOW Jones closed at 12,621.77 The GDP for the previous quarter was 3.5% The Unemployment rate was 4..6%. George Bush's Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!
Remember the day...January 3rd, 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 meltdown that happened 15 months later was in what part of the economy?
BANKING AND FINANCIAL SERVICES!!!
THANK YOU DEMOCRATS for taking us from 13,000 DOW, 3.5 GDP and 4.6% Unemployment... to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOS! (BTW: Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001 because it was financially risky for the US economy).
And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac????
OBAMA!
And who fought against reform of Fannie and Freddie???
OBAMA and the Democrat(ic) Congress
So when some one tries to blame Bush...Set the record straight on Bush!
*Now let's look at it a different way....
*The Washington Post babbled again today about Obama inheriting a huge deficit from Bush. Amazingly enough,...... a lot of people swallow this nonsense. So once more, a short lesson in Civics....
Budgets do not come from the White House. They come from Congress, and the party that controlled Congress since January 2007 is the Democrat Party. They controlled the budget process for FY 2008 and FY 2009, as well as FY 2010 and FY 2011. In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.
For FY 2009 though, Nancy Pelosi and Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive Omnibus spending bill to complete the FY 2009 budgets.
And where was Barack 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 FY 2009.
If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets. If Obama inherited anything, he inherited it from himself.
In a nutshell, what Obama is saying is, * I inherited a deficit that I voted for, and then I voted to expand that deficit four-fold since January 2009 *
REMEMBER JANUARY 3rd, 2007.... THE DAY THE DEMOCRATS TOOK OVER!"
Bush may have been in the car but the Democrats were in charge of the gas pedal and steering wheel, and they were driving.
There is no way this will be widely publicized, unless each of us sends it on!
Jeb is gonna run for 2012. I will not vote for another Bush. Not after all this. I will bail out of the RINO party so fast it will make the head spin.
This graph is a bit deceptive in that the first budget (2001) was actually in place when Bush was elected so generally his first budget year is Sep 2001 - Sep 2002. In addition, that makes Obama’s first budget actually Bush’s last budget although Obama did revise the Fiscal Year 2008 budget early in his Presidency and add a bunch of spending to it. To be totally accurate one would have to figure out which part of the 2008 budget belongs to each administration.
bfl
BOOKMARK.
I apologize for not being “totally accurate”.
lol I remember that too..but he was not the entire blame for the crashing economy..in fact it started crashing when clinton was in office and the tax cuts improved things..just who is minding the store right now? any improvements on financial practices..all i see is bank takeovers and bailouts.
This seems to be accurate.
The media is either too lazy or too dim to follow the actions of 535 senators and congressmen. So much easier to keep your sights on the Oval Office. Why should they bother to get it right?
The Clinton Budget surplus is a myth too.
http://silentmajority09.com/2010/10/17/destroying-myth-clinton-surpluses/
“It’s not that our “Progressive” friends know so much, it’s that so much they know isn’t true.
Who signed the devestating legislation that came out of Dodd’s and Frank’s commettes?
Our problems started before Bush, but Bush and Obama share a lot of blame for the way this economic mess has been handled.
All in all, Republicans, while hardly perfect, have been consistently far better stewards of the Federal Budget than Democrats have been over the last 30 years, at least.
You can always count on the Democrats to run up huge debts and weaken national security.
Bookmark
What legislation are you referring to?
Those revenues were due largely to Ecommerce and the techs needed to set all of those servers up, and Y2K. Both created plenty of jobs/tax payers while they lasted, and both would have happened regardless of who was in the White House.
Read the Constitution. Congress passes the budgets and all appropriations and spending legislation.
All bills presented by the Republican since 2003 to regulate Fannie and Freddie were either killed in committee by Democrats or filibustered by Democrats.
bkmk
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