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Old 06 December 2011, 01:50 PM
DemonWolf's Avatar
DemonWolf DemonWolf is offline
 
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Default Things were better under Bush

Quote:
Lori Ehricke
REMEMBER JAN. 3, 2007
The day the Democrats took over was not January 22nd 2009, it was January 3rd 2007, the day the Democrats took over the House of Representatives and the Senate, the start of the 110th Congress. The Democratic Party gained 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 Congress:
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 SERVICES!
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? OBAMA

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 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 budget.

Andwhere 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 January 20th, 2009."

There is no way this will be widely publicized unless each of us passes it on.

"The problems we face today exist because the people who WORK for a living are outnumbered by those who VOTE for a living."
It's making the rounds on FaceBook, but I don't have the stats to debunk it. Anybody got cites?
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  #2  
Old 06 December 2011, 02:14 PM
fitz1980 fitz1980 is offline
 
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The timetable of who was in power is accurate, but you'd have to be a pretty uninformed to really believe that the current economic crisis was built up in 15 months. Here's a list of the 25 people most responsible for the 08 meltdown.

http://www.guardian.co.uk/business/2...iduals-economy

Notice that most of them (and there are Democrats and Republicans on that list) did the things that contributed to the meltdown several years before 2007.
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Old 06 December 2011, 04:42 PM
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Mickey Blue Mickey Blue is offline
 
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By the logic in the OP 9/11 was Bush's fault. It happened on his watch and prior to 9/11 republicans were in the majority in the senate and the house.
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Old 06 December 2011, 09:58 PM
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crocoduck_hunter crocoduck_hunter is offline
 
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There's some other parts that even if technically correct (don't know, didn't check) would still be factually misleading, like the part about 52 straight months of job creation, which ignores the serious whammy the economy took at the very beginning of Bush's first term from the dotCom bubble bursting followed by 9/11, so a lot of that growth was really going back towards previous levels after it had fallen quite a bit.
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Old 18 December 2011, 04:01 AM
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Elwood Elwood is offline
 
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Or, instead of Congress, use who is President.

When Clinton took office, the DOW was 3241.95. On his last day it office it was 10587.59.

When G. W. Bush took office, the DOW was 10587.59. On the last day of his term, it was down to 7949.09.

When Obama took office, the DOW was 7949.09. The most recent close as I write this is 11,866.39.

It looks to me as though the market tolerated those pinko socialist democrats just fine!
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