- Dow Jones closed at $12,621.77
- GDP for previous quarter was 3.5%
- Unemployment rate was 4.6%
- George Bush's economic policies set a record of 52 straight months of job growth!
On Jan. 3, 2007 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 BANKING & FINANCIAL SERVICES!
President Bush asked Congress 17 times to stop Fannie Mae & Freddie Mac (starting in 2001) because it was financially risky for the US economy.
Who fought against reform of Fannie & Freddie? OBAMA & THE DEMOCRAT CONGRESS. Also, Obama took the third HIGHEST pay-off from Fannie & Freddie.
The Democrats controlled the budget process for 2008 through 2012. In 2008 Pelosi & Reid bypassed George Bush entirely and passed continuing resolutions to keep government running until Obama could take office. At that time they passed a massive omnibus spending bill to complete the 2009 budgets. Obama 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.
Any deficit the Democrats inherited 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 Obama who voted for the budgets.
Obama's Dismal Record:
- 23 million unemployed or underemployed
- 47 million on food stamps
- 5.5 million homes in crisis/foreclosure
- $4,500 drop in annual household income
- $5.5 trillion of new national debt
- $716 billion in medicare cuts
- $2.6 trillion for Obamacare
- $1.9 trillion in new taxes in Obama's budget
- 100% increase in gas prices
And remember Obama's promise to have the most transparent administration ever, with discussions on CSPAN? Never happened! As soon as the Democrats took control, they held meetings behind closed doors and would not consider any Rebublican input. Once Republicans took control of the House in 2010, the Democrat-controlled Senate would not take up bills the House passed. It is not the Republicans who are holding up work in Congress; it is the Democrats and Obama. Allow me to put a quote in here: For a moment, the lie becomes truth. ~ F. Dostoevsky. I'm hoping & praying these lies are just for a time and on November 6 we can begin to straighten out this mess, a mess Obama & the Democrats keep distorting.
How do we explain the total incompetence of Obama's administration? How can the president of a major nation and society talk about business when he's never worked for one? Or about jobs when he has never really had one? The same is true of his senior staff and closest advisers. They've spent most of their time in academia, government and/or non-profit jobs or as "community organizers." It's time to get a competent leader in the White House!