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Tuesday, March 20, 2012

Recent History

We received this from a reader: Dear Cowboys and Tea Parties. Just wanted to give you a short history lesson. No matter what people and pundits say, history and the facts can't be changed.

The day the Democrats took over was not January 22nd 2009 (Obama being sworn in), 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. This was the first time the Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.

It should really concern us that the facts do not support the Obama and his Adminstration blaming former President Bush at every turn. These facts are common knowledge and easy to look up, so the conclusion I draw, and every American should conclude, is that this current Democrat led
Administration is plain lying for political gain.

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%
Under George Bush's Administration there was a record 52 straight months of job creation.

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% this current CRISIS. Dumping 5-6 TRILLION Dollars of toxic loans on the economy from Fannie Mae and Freddie Mac.

Bush asked Congress 17 times to stop Fannie & Freddie - starting in 2001 because it was financially risky for the US economy. Barney and Chris Dodd blocked it and called it a "Chicken Little Philosophy".

Which politician took the 3rd highest pay-off from Fannie Mae and Freddie Mac? That would be Barack Obama.

Who fought against reform of Fannie and Freddie? Then Senator Obama and the Democrat Congress, especially Barney Frank and Chris Dodd.

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 and 2009 as well as 2010 and 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. Bush should have vetoed every bill that came in front of his desk!!

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.

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." Let's repeat that: "I inherited a deficit that I voted for, and then I voted to expand that deficit four-fold since January 20th."

The problems we face today exist because the people who work for a living are outnumbered by those who vote for a living. This is the main problem in Greece today and we are quickly heading in that direction.

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