The Mess and how Obama inherited it
This tells the story, why Bush was so bad at the end of his term.
Don’t just skim over this, read it slowly and let it sink in. If in doubt, check it out.
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 Democrat 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 GROWTH
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!
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!
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 Congress
So when someone tries to blame Bush..
REMEMBER JANUARY 3rd, 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 Democrat 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 is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th.
Truth? We don't need no sinking truth!
ReplyDeleteIf Obama is not defeated in November, I do not expect Congress to ever create a budget again. Ever.
ReplyDeleteHere is a mind blowing piece on the Highway Bill before Congress as published in the Wall Street Journal.
ReplyDeleteExcerpted [carefully snipped & edited] here:
There was bipartisan joy in Washington ... Congress passed a $120 billion highway funding bill. Who says Democrats and Republicans can't agree on anything?
It's crammed with a remarkable array of budget gimmicks voters aren't supposed to notice.
Those gas tax funds have been dwindling, so Congress has begun to fund transit and road projects with money from general revenues—[already in the hole, eh?]
House Republicans originally sought sensible reforms for transportation funding—more state flexibility over how road money is spent ... At the insistence of Democratic Senate Majority Leader Harry Reid, nearly all these money savers were stripped from the final bill. Republicans also folded on their demand for a green light on the Keystone XL pipeline.
The bill pays for 27 months of highway funding with 10 years worth of revenues and spending cuts. This promise to "pay for" spending now with cuts in the future is a fiscal ruse ...
The most outrageous highway hoodwinking is the almost $9 billion of budget "offsets" from allowing corporations to contribute less over the next several years to their defined-benefit pensions ... phantom savings ... The American Enterprise Institute dubs this ruse "the big lie at the heart of the highway bill" and notes that the "100 largest [pension] plans were roughly $200 billion underfunded at the end of last year." Of course, taxpayers are on the hook ... [the usual taxpayer bend over, we're here to help you routine]
Everyone in Washington is celebrating this bipartisan spending blitz. [you may projectile vomit here!]
Read the whole article at the link, if you can ...it is even worse ... the whores of Congress are are rolling the drunks and fagots again.
The highway bill is a giant pile of poo-poo.
ReplyDeleteMy R congressman sent me a mass email, bragging about passing it. I sent him an email back. I hope the MIB's aren't knocking on my door anytime soon.
Noah and I made a quick trip back east last month. There are massive highway projects everywhere, but very few workers on site. At one project in Illinois, there were warning signs every 100 yards or so, starting with "road construction: 16 miles". Really? You need 16 miles of road signs to warn drivers of upcoming construction? We were fuming, wondering how much taxpayer money was wasted making hundreds of signs, let alone the *cough* union *cough* labor to put them up.
We have one smallish highway project in our county that's a screaming example of mismanagement. It's about a two mile stretch of road that they're widening to four lanes, and it's been under construction for YEARS. A few men will show up with big machines, work on it for a week or two, and then disappear for months. Meanwhile, it's tore all to hell and a hazard for those of us who have to drive that stretch every day.
Of course, this is just one aspect of the highway (robbery) bill. The pension scam is one more aspect; the heart of the matter, really.