by Larry Grohn
Why Bush was so bad at the end of his term . . .
Some
people aren't aware of all of this. Please don't just skim over this
message. Please read it slowly and let it sink in. If in doubt,
check it out. Dates HAVE BEEN verified.
The day the Democrats took over was not January 22, 2009. It was actually January 3, 2007, the day the Democrats took over the
House of Representatives and the Senate -- at the very start of the 110th Congress.
The Democratic 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 3, 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 GROWTH
Remember the day...
January 3, 2007, was the day that Barney Frank took over the House Financial Services Committee,
and Chris Dodd took over the Senate Banking Committee. These were two, along with Sen. Charles Schumer,
that required that Fannie Mae and Freddie Mac have 50% of their mortgage loans to be of the high risk variety
toxic loans made to those unable to pay the loans back) in order for more Americans to realize the
'American Dream' of home ownership.
The economic meltdown that happened 15 months later was in what part of the economy?
BANKING AND FINANCIAL SERVICES!
Unemployment... to this CRISIS by (among MANY other things) dumping $5-6 trillion of toxic loans on the
economy from YOUR Fannie Mae and Freddie Mac FIASCOES!
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 Democratic Congress!
So when someone tries to blame Bush…
REMEMBER JANUARY 3, 2007.... THE DAY THE DEMOCRATS TOOK OVER!"
Budgets do not come from the White House -- they come from Congress.
And the party that controlled Congress since January 2007 is the Democratic Party.
Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 &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 2009 though, Nancy Pelosi & 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 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 2009.
If the Democrats inherited any deficit, it was the 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 should be saying is
"I inherited a deficit that I voted for and then I voted to expand that deficit four-fold."
There is no way this will be widely publicized unless each of us sends it on!
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