The Truth about Bush's term
This tells the TRUTH about Bush's financial term.
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.
What a load of crap....
Originally Posted by Larryrsf
Quote from Wikipedia "The President, according to the Budget and Accounting Act of 1921, must submit a budget to Congress each year." The House and Senate wrangle over it and pass a bill. The bill is sent to the president to be signed into law or vetoed. Bush signed it. So, what you are telling me is Bush was to cowardly to stand up to Pelosi & Reid. That I would believe.
Yes, Bush and Obama have many things in common when it comes to spending, or should we say over spending, our money...
I don't really care.
Spending is the way out of a depression.
Spending got us out of the last great depression, and spending is all that will get us out of this one.
Spending requires taxation, and taxes can only be garnered from those that have the money.
Redistribution? I honestly do understand that this is ideologically repugnant to some people. But the people whom it would benefit outnumber the people whom it would hurt. Thus, it is in the best interest of the struggling working class majority to vote ideologically "left."
Politics are about right and left, not right and wrong.
(Maybe right and wrong would work in a universe that was actually a product of intelligent design, not our universe which is amoral, having obviously been fashioned by the random confluence of sub-atomic particles.)
In other words, politics are about "us" and "them," so if people were really voting their best interests, the majority would vote not necesarily for O'Bama, but actually to the left of him. And the comfortable minority would and do have every right to be livid about it. I just don't care.
Not a bad attempt, but maybe a bit blunt. There is an art to this business, and while your post is no Picasso, it's probably on par with that overrated hack Andy Warhol.
Originally Posted by NiftyNiblick
I see you finally understand your brother's fascination with this place. It's a shame we are a closed society at GR, unable to get new members signed up.
2010 recipiant of TRG Commendation of Excellence
Member GR Club 5K
Member GFF Crew
*Plus many more accolades that are the cause of jealousy
The Dow crashed in 2007/2008 because of the housing market crashing and the failure of several banks. Anyone with any education knows that to be true.
Originally Posted by Larryrsf
Under Obama, the Dow is back up to where it was prior to 2007 so what's your point?
Bush was a horrible president. He ignored the wishes of the American people because his own pride was more important to him. He wasted trillions of our tax dollars to go fight Iraq under the guise of weapons of mass destruction and vingeance for 9-11, even though Iraq had nothing to do with it.
He is one of the worst we've ever had.
The other night, I stumbled into Larry's dream. I saw an overgrown rabbit carrying a timepiece and running into a hole. I followed him there and ended up drinking tea with a goofy Englishman with a big hat and smiling cat that talked. Then, I had a narrow escape from a King of Hearts that looked very much like Obama.
Word to the wise . . . do not eat mushrooms before going to sleep or posting on golf forums.
Larry, all you have to do is answer one question correctly in order to see how stupid it is to continually post these praise threads for George W. Bush: Did he make our nation economically better, diplomatically closer to nations worldwide, or militarily stronger?
Last edited by SoonerBS; 06-21-2012 at 12:22 PM.
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