Tell Me Again Whose Fault It Is!

I think most of us know this but it is a good reminder with all the INVALUABLE information coming out of the present administration!

This tells the story, why Bush was so bad at the end of his term. Don't just skim over this, it's not very long, 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. 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,the Democrats had to contend with George Bush, who caused them to compromise on spending, when he 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 the very Congress that passed all of those 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.

Another Democrat Lie

In recent weeks the White House has been pushing a new argument about the economy: "We didn’t know how bad it was."  President Obama used this line Tuesday in an interview with KIRO in Seattle, saying that he wished he understood just how deep the economic problems were when he took office. Obama said: “I think we understood that it was bad but we didn’t know how bad it was.” He added: “I think I could have prepared the American people for how bad this was going to be had we had a sense of that.”

So, was Barack Obama surprised by the seriousness of the economic problems in 2008, as he now claims?

In a word: No.

On September 28, 2008, in the first head-to-head debate with John McCain, Obama said: “We are going through the worst financial crisis since the Great Depression.” He called it “a defining moment in our history.”

A post on the Obama administration’s transition page said that the United States “faces its most serious economic crisis since the great depression.” 

“Our country faces its most serious economic crisis since the great depression. Working families, who saw their incomes decline by $2,000 in the economic ‘expansion’ from 2000 to 2007, now face even deeper income losses. Retirement savings accounts have lost $2 trillion. Markets have fallen 40% in less than a year. Millions of homeowners who played by the rules can't meet their mortgage payments and face foreclosure as the value of their homes have plummeted. With credit markets nearly frozen, businesses large and small cannot access the credit they need to meet payroll and create jobs.”

If Obama was exaggerating, others believed him. The depth of the recession was widely reported when Obama was elected. On November 5, one day after the election, Agence France Presse reported that “Obama faces the biggest global crisis since the 1930s Great Depression and a host of domestic economic ills, including rising unemployment, falling home values and deeply shaken confidence when he takes office on January 20.” An analysis by the Associated Press sounded a similar note, arguing “the president-elect must immediately confront the worst economic conditions since the 1930s Great Depression.” The Boston Globe called it “the worst economic crisis since the Great Depression.” A memo from the Obama-friendly Center for American Progress called the situation “perhaps the most daunting economic challenge faced by a new president since the Great Depression.”

Why would Obama say something so easily refuted? Perhaps he’s simply hoping the media won’t call him on it – a reasonable expectation. Or maybe he’s hoping for the opposite – that the media will call him on his current mendacity and, as a consequence, remind voters just how bad the economy was when he came to office. Who knows?

Either way, the White House’s current claim that it was unaware of the depth of the economic problems is not true.  In other words, another Democrat lie.