January 3, 2007
— 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, 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 3rd, 2007, the day the Democrats took over
the Senate and the House:
- 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 that 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
THANK YOU DEMOCRATS (especially Barney ) 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 FIASCOES!
(BTW: Bush asked Congress 17 TIMES to stop Fannie & Freddie –
starting in 2001 because it was financially risky for the US economy).
Barney blocked it and called it a "Chicken Little Philosophy" (and the
sky did fall!)
And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac?
And who fought against reform of Fannie and Freddie? OBAMA and the
Democrat Congress, especially BARNEY!
So when someone tries to blame Bush...
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 – they were driving the
economy into the ditch.
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 fiscal year 2009 though, Nancy Pelosi &
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 budget.
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. Let's remember
what the deficits looked like during that period.
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 is saying is "I inherited a deficit that I
voted for, and then I voted to expand that deficit four-fold since
There is no way this
will be widely publicized, unless each of us sends it on!