HAVE YOU FORGOTTEN JANUARY 3, 2007?

REMEMBER JANUARY 3rd, 2007....THE DAY THE DEMOCRATS TOOK OVER!"

  

Rep. Nancy Pelosi  (D-Calif.) was elected America's first female speaker of the House  in a raucous, bipartisan celebration of a historic breakthrough, and hours later she presided over passage of the broadest ethics and lobbying revision since the Watergate era.

Democrats took control of the House and Senate after 12 years of nearly unbroken Republican rule, with resolute calls for bipartisan comity and a pledge to move quickly on an agenda of health-care, homeland security, education and energy proposals. Sen. Harry M. Reid  (D-Nev.), the soft-spoken son of a hard-rock miner, took the helm of the Senate, after a closed-door session in the Capitol's stately Old Senate  Chamber. 

Some people have short memories…..so here is a quick reminder.

At the time:
The DOW Jones closed at 12,621.77
The GDP for the previous quarter was 3.5%
The Unemployment rate was 4.7%

George Bush's Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB GROWTH

Remember that on October 9, 2007, 11 months before our “economic crisis” occurred (that was actually created), the Dow hit its highest point ever, closing at 14,164.53 and reaching 14,198.10 intra-day level 2 days later. Unemployment was steady at 4.7%. But things were already being put in place to create the havoc we have all been experiencing since then. And it all started, as this email explains, on January 3, 2007. 

Democrats Influence on the End of the Bush's Administration
This tells the story of why Bush was so “bad” at the end of his term.

The day the Democrats took over was not January 22nd 2009, it was actually January 3rd 2007, which was 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.

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? Senator Obama. And who fought against reform of Fannie and Freddie? President Obama and the Democrat Congress.

So when someone tries to blame Bush. REMEMBER JANUARY 3rd, 2007....THE DAY THE  DEMOCRATS TOOK OVER!"

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 President Barack Obama could take office. At that time, they passed the $410 billion dollar omnibus bill to complete the 2009 budgets.

And where was Senator 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 Senator Barack Obama, who voted for the budgets.

If President Obama inherited anything, he inherited it from himself and the Democratic controlled 110 Congress. In a nutshell, what President 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."