For those of us interested in the truth, the following account is familiar. I, and my guess you, remember Bush’s administration warning the Democrats on several occasions that the loans they guaranteed Fannie Mae and Freddie Mac to lend were going to cause trouble eventually. I remember both Barney Frank and Shirley Waters saying right on TV camera that those lending companies were not in any trouble. Now we all know that was wrong. Both either didn’t have a clue or downright lied to other members of Congress and the American people. As bad as so many of our memories are (mine included), all of us need to be reminded of the following. I’m doing my part by forwarding this on to you. I hope you will follow suit. RB
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This is from a nephew whose father, my sister's husband, was one of the most rabid democrats I ever knew. He would be turning in his grave if he knew his son would even look at such as this. We/I need to be reminded. Take care, Art
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Jan 3, 2007 ~~~ Time for a reminder. Anyone who pays much attention to the news already knows the following is true. The problem is we tend to forget and this coming election is too important to forget. Don’t just skim over this, read it slowly and let it sink in. If in doubt, check it out. It is easy to check 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 CREATION!
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!
THANK YOU DEMOCRATS for taking us from almost 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).
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! Bush may have been in the car but the Democrats were in charge of the gas pedal and steering wheel.
Budgets do not come from the White House. (The previous sentence is wrong. Budgets DO come from the White House but they have to be approved by the Congress. The President himself cannot spend a dime. ALL expenditures must be Congressionally approved.) The party that controlled Congress since January 2007 is the Democrat Party. Therefore, the Democrats controlled the budget process not only for 2010 and 2011, but for 2008 & 2009 as well. 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 2008 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office in 2009. 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.
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 sends it on!
