Was it Really All Bush's Fault?

Discussion in 'Politics' started by AAAintheBeltway, Oct 1, 2012.

  1. I received this forward recently:



    This is not meant to offend anyone, just passing along interesting information. Voting can detrimental to our country’s future and our children’s futures, but be educated when casting your vote. It is your God given American right!

    Some people have short memories…..


    I’ve been saying this for years, but this email probably explains it
    better and more clearly. This is NOT a political message, but rather
    a clarification to remind us all of the correct facts.

    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’ve all been experiencing since then. And it all started, as this email explains, on January 3, 2007.

    I'm sending this to each of you regardless of your party preferences
    because I believe it is something you may not have considered.

    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, 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.

    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.

    There is no way this will be widely publicized, unless each of us sends it on!

  2. mostly. the seeds to the crash in 2007 were sown earlier. the one thing that might have kept the system from blowing up had bush not done it was this:

    5. The Securities and Exchange Commission changed the leverage rules for just five Wall Street banks in 2004. The “Bear Stearns exemption” replaced the 1977 net capitalization rule’s 12-to-1 leverage limit. In its place, it allowed unlimited leverage for Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers and Bear Stearns. These banks ramped leverage to 20-, 30-, even 40-to-1. Extreme leverage leaves very little room for error.

  3. You're "Hollering into the wind"...

    The hoi polloi Odumbo voters only care about things like, "somebody else should pay for my birth control/college loans", and "Odumbo gave me a free cell phone"...

    Those type of things are the issues which matter to today's electorate.

    :mad: :mad:
  4. pspr


    Liberal voters think everything they don't agree with is a lie. It's amazing how blind they are.

    <iframe width="560" height="315" src="http://www.youtube.com/embed/LPSDnGMzIdo" frameborder="0" allowfullscreen></iframe>
  5. More partisan propaganda nonsense from AAAbeltway.
    The prospect of 4 more Obama years has rendered him incompetent. I am hereby downgrading AAA to b+. He is now b+inthebeltway.
  6. He lost me with .. It is your God given American right!..

    What does God have to do with our rights as Americans to vote?
  7. you need to get to church more. the religious are told that god created america.

    "This century must be an American century," Romney said. "In an American century, America has the strongest economy and the strongest military in the world. God did not create this country to be a nation of followers."Mitt Romney
  8. BSAM


    Oh my goodness.
    It's amazing what spin can do.
    No, it isn't all Little George Bushit's fault.
    Did Little George get the ball rolling in the wrong direction?
    Of course.
    Did Obama make it way worse?
    Of course.

    Moral to the story: Never vote for a democrat.
    Never vote for a republican.
    Either way, the government wins.

  9. Yeah, I guess if Mitt says so. So, our Founding Fathers did not do this themselves, they had God's help. This is all fine, just keep Religion out of Politics, that's all I Pray for. Yeah, I know.
  10. BSAM


    Brother Bill, I perceive that thou art very young.
    It is impossible to keep religion out of politics, regardless of what you have heard/been taught.
    #10     Oct 1, 2012