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:
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 GROWTHRemember 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
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.
There is no way this will be widely publicized, unless each of us sends it on!
We’ll never get straight answers from the media when it comes to Obama. It was so easy to dump on Bush when society had a liberal media willing to spin facts, distort the truth, and give Barry a much needed leg up.
So, what does a trillion look like? Come over and take a look! Now think of that huge stack and multiply it by 16. It is mind-numbing to ponder what our federal government does with our tax money, but it is even worse to think about how the politicians borrow even more money because what we have just isn’t enough. It will stop sooner or later because all of this nonsense is not sustainable. All you have to know is simple math to figure out the crushing effect of interest payments alone. Our media certainly doesn’t give this one issue the attention it truly deserves. There should be a debt clock behind every news anchor and reports should be pummeling the administration and Congress for answer regarding the out-of-control spending and the necessary cuts that must be implemented. I know, I’m just spitting in the wind.
The video speaks volumes about Barry’s ineptitude. It is time for him to go back to Chicago and sleep in that house he can now afford.
Even this, however, understates the size of catastrophe the United States faces. There are no precedents in history for a great power spending itself to death on the scale America is doing. President Obama has added $5 trillion to the national debt, and has nothing to show for it. Do you know how difficult that is to do?
Personal debt per citizen is currently about $50,000, but at least you got a La-Z-Boy recliner and a gas-fired barbecue out of it. Obama has spent America’s future, and left no more trace than if he and his high school “choom gang” had wheeled a barrow of $5 trillion in large notes behind the gym and used them for rolling paper.
I was reading a short commentary page regarding the federal governments push to get more people hooked on handouts. I came across this reader’s letter to Barry:
The Allowance . . .
Dear Mr. Obama,
Welfare was not practiced in the Doake’s household.
Upon coming home from Junior High school I walked into my fathers office, and began to demand an allowance. As you can imagine I was very persuasive, I explained at length that I could not fit in unless I wore the right clothes, and therefore I would need money to purchase them. I thought this completely reasonable. I, his son, must look good he, my father, must pay. An entitlement mentality only a child could possess.
The old man leaned back in his chair, leaned forward, turned over the sheet of paper he was working on, cleared his Texas Instruments calculator, that cost hundreds of dollars and was 5,000 years old, and said “Well Joe let’s see here . . “ and began to list out all of the costs he was providing for me. At the end he came up with a figure of my share of the family homestead. Then he declared “Joe, how do you want to handle your bill?” At this point not only did I not have an allowance, I was in debt! Growing by the second! Then he explained that I could wash and wax the car to pay him back, and if I wanted money I could go do the same thing for someone else, and he and I would call it even. That gave birth to an entrepreneur. All I needed was a bucket, my dirt bike, some soap, and wax. Pretty soon I had figured out a way to get a car from the local train station to my driveway without the benefit of a drivers license.
Forgetting my breeching the vehicle and traffic law what did I learn through this exercise. For one, the value of money. You see when someone actually does work for something they tend not to act wastefully with what they earn. All that stuff I told my father I wanted to be cool, I still wanted to be accepted by the crowd, but no longer that crowd, I wanted to be part of the smart and athletic crowd. I also opened up a savings account, back then our monetary policy awarded savers, and didn’t punish them like it does today. In addition I wasn’t idle as a young boy, and the idea of earning money caught fire, pretty soon I was mowing lawns, baby sitting, cleaning houses even got a job taking pictures at the local paper. At one point I was making more money then some people double my then age.
Then there is you. You don’t know the value of money, you have no capacity to lead, and you firmly believe that the Federal Government can be made benevolent, that a mosk should be placed less then five hundred feet from the site of the largest attack on the continental United States, instead of putting the gifts Allah, I mean God gave you to work for some positive end. You filled your head with every pinko commie piece of dreck that could fit, and then you sought public office, so you could spread the word of Allah, I mean communism, no wait, dependency, no I’m sorry I forgot the narrative “Hope” and “Change.” I have wondered what it would be like to truly be governed by ones own intellectual and moral inferior, and I must say I feel terrible, but somehow empowered to fight against you.
Actually, the pilot of Air Force one put it best. Do you remember your first step on Air Force One? I do. Unbeknownst to you there was a National Geographic film crew on the aircraft concluding the show describing the 747 that allows you to take all those vacations on our dime. Anyway, the camera is trained on the pilot, and the pilot is concluding his comments, and he sees your limo pull up and he says with a look of loss on his face, his head darting between you and the camera, “ . . . no matter who is President we take them where they need to . . . uh . . . go . . .” He could barely contain his surprise that a commie was elected to be the President of the United States.
Nor can the American people, and on November 6, 2012 we are going to do something about that.
The social experiment that was Barack Obama’s election and presidency is over. Way over.
As one who was born in the heart of Boston and worked the political world of Washington for 20 years, I know quite a few Democrats. Some are family, and many are close friends. Most voted for Obama in 2008. None at this point is inclined to vote for him in 2012.
Why? Because they view him as an abject failure across the board and have decided to put the welfare of their families and themselves before the empty rhetoric of the Obama campaign before it’s too late.
Power Abuse: According to this administration, the nation’s largest mortgage lender —Wells Fargo — and dozens of other banks are racist. Don’t believe it: They’re targets of a massive witch hunt.
Attorney General Eric Holder has also added SunTrust Bank, one of the country’s largest home lenders, and Bank of America to his ever-growing list of bank bigots.
Some 60 other lenders are said to be under investigation for allegedly denying blacks and Latinos home loans solely due to the color of their skin; or for allegedly “steering” them into higher-cost subprime mortgages when they could have qualified for prime loans.
Gross Domestic Product: The U.S. economy grew at a slothful 1.5% in the second quarter and way below the level needed to create new jobs. Workers and small businesses are losing hope. Yes, Mr. President, “you built that.”
Despite our $16 trillion in debt and a bloated federal deficit of $1.2 trillion, Obama and the Democrats keep telling us that we need more spending and intervention in the economy for it to reach “escape velocity,” as if the economy were a rocket ship or something.
Obama also likes to say the economy “grows from the middle out,” and that America needs “bottom-up prosperity” — two nifty little sayings that, as any economist worth his salt will tell you, are utterly bereft of meaning.
Economies grow when entrepreneurs start businesses and create jobs. That’s what creates “the middle,” and also what lets “the bottom” rise up. It’s that simple.
My wife saw this tax lesson in the comment section and mentioned it to me. I remember reading about the 10 men and how the rich guy was treated. Here’s the lesson for those who are willing to read and learn:
Suppose that every day, ten men go out for beer and the bill for all ten comes
If they paid their bill the way we pay our taxes, it would go something
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18..
The tenth man (the richest) would pay $59.
So, that’s what they decided to do. The ten men drank in the bar every day and
seemed quite happy with the arrangement, until one day, the owner threw them a
curve. ‘Since you are all such good customers,’ he said,’I'm going to reduce the
cost of your daily beer by $20. ‘Drinks for the ten now cost just $80.The group
still wanted to pay their bill the way we pay our taxes so the first four men
were unaffected. They would still drink for free. But what about the other six
men – the paying customers?
How could they divide the $20 windfall so that everyone would get his fair
share?’ They realized that $20 divided by six is $3.33. But if they subtracted
that from everybody’s share, then the fifth man and the sixth man would each end
up being paid to drink his beer. So, the bar owner suggested that it would be
fair to reduce each man’s bill by roughly the
same amount, and he proceeded to work out the amounts each should pay.
And so the fifth man, like the first four, now paid nothing (100% savings)
The sixth now paid $2 instead of $3 (33%savings)
The seventh now pay $5 instead of $7 (28%savings)
The eighth now paid $9 instead of $12 (25% savings)
The ninth now paid $14 instead of $18 ( 22% savings)
The tenth now paid $49 instead of $59 (16% savings)
Each of the six was better off than before. And the first four continued to
drink for free. But once outside the restaurant, the men began to compare their
I only got a dollar out of the $20, declared the sixth man.
He pointed to the tenth man, but he got $10!
Yeah, that’s right, exclaimed the fifth man.
I only saved a dollar, too.
It’s unfair that he got ten times more Than I
That’s true! shouted the seventh man.
Why should he get $10 back when I got only two?
The wealthy get all the breaks!
Wait a minute,’ yelled the first four men in unison.
We didn’t get anything at all. The system exploits the poor!
The nine men surrounded the tenth and beat him up.
The next night the tenth man (the richest) didn’t show up for drinks, so the
nine sat down and had beers without him. But when it came time to pay the bill,
they discovered something important. They didn’t have enough money between all
of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax
system works. The people who pay the highest taxes get the most benefit from a
tax reduction. Tax them too much, attack them for being wealthy, and they just
may not show up anymore. In fact, they might start drinking overseas where the
atmosphere is somewhat friendlier.
David R. Kamerschen, Ph.D.Professor of Economics
University of Georgia
For those who understand, no explanation is needed.
For those who do not understand, no explanation is possible.
Here’s an old post regarding government largess. It’s also worth reading.