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The
Frannie and Freddie mess was created by the Democrats in the Carter
administration, expanded by the Clinton administration, and
predicted by the Bush Administration in 2001 of dire consequences
that would occur, if new regulations on Freddie and Fannie,
were not implemented. Republicans from Bush, Alan Greenspan, the
Secretary of the Treasury, and others were blocked by Barney Frank,
Chris Dodd, Charles Schumer, and sufficient other Democrats, to
rein-in Freddie and Fannie.
Obama regularly blames George Bush
for the economy he inherited. Continue reading and you
will see that Obama voted for the budgets for which he blames Bush.
The Democrats are the politicians that controlled the budgets from
January 3, 2007 until now.
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 FY 2009 though, Nancy Pelosi and Harry Reid bypassed George Bush
entirely, passing continuing resolutions to keep government running
until Barack Obama could take office. When Obama was inaugurated,
they passed a massive omnibus spending bill ($800+Billion) to
complete the FY 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 FY 2009. Let's
remember what the deficits looked like during that period: (see
chart below)
If the Democrats inherited any deficit, it was the FY 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 increased spending.
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 20, 2009. "
the Frannie and Freddie mess was
created by the Democrats in the Carter administration, expanded by
the Clinton administration, and predicted by the Bush Administration
of dire consequences that would occur, if new regulations were not
implemented. Republicans from Bush, Alan Greenspan, the Secretary
of the Treasury, and others were blocked by Barney Frank, Chris
Dodd, Charles Schumer, and sufficient other Democrats, to rein-in
Freddie and Fannie because their failure could lead to financial
catastrophe.
Obama regularly blames George Bush
for the economy he inherited. After reading the article, you
will see that Obama voted for the budgets for which he blames Bush.
The Democrats are the politicians that controlled the budgets for
FY2007 to FY2011. Obama voted for or approved all of these budgets.
The Washington Post babbled again
today about Obama inheriting a huge deficit from Bush.
Amazingly enough, a lot of people swallow this nonsense. So once
more, a short civics lesson.
Budgets do not come from the White House. They come from Congress
and the party that controlled Congress since January 3rd,
2007 is the Democratic Party.
Furthermore, the Democrats controlled the budget process for FY 2008
and FY 2009 as well as FY 2010 and FY 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 FY 2009 though, Nancy Pelosi and 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 ($800+Billion) to complete the FY
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 FY 2009. Let's
remember what the deficits looked like during that period: (below)
If the Democrats inherited any deficit, it was the FY 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 20, 2009.
These are the facts. Every statement/claim here can be verified
in numerous ways, including Google and the records of the US
Congress.’’
So now let’s here “what did Obama
inherit. The Democrats have
been in charge of the US Economy since January 3, 2007. Obama was
inaugurated 24 months later, but the financial mess became known
15 months after Barney Frank and Chris Dodd became chairmen of
the committees in Congress that set policy for our financial future.
And of course, the root of the problem was Freddie and Fannie,
created
and controlled by Democrats.
The Democrats
have been in charge of US Financial Policy
since January 3, 2007!! 15 months BEFORE the financial crisis
emerged!!
Obama INHERITED the financial mess from HIMSELF!!!
These are the facts. Every statement/claim here can be verified
in numerous ways, including Google and the records of the US
Congress.’’
So now let’s here “what did Obama
inherit. The Democrats have
been in charge of the US Economy since January 3, 2007. Obama was
inaugurated 24 months later, but the financial mess became known
15 months after Barney Frank and Chris Dodd became chairmen of
the committees in Congress that set policy for our financial future.
And of course, the root of the problem was Freddie and Fannie,
created
and controlled by Democrats.
The Democrats
have been in charge of US Financial Policy
since January 3, 2007!! 15 months BEFORE the financial crisis
emerged!!
Obama INHERITED the financial mess from HIMSELF!!!
The last 2 budgets submitted by Obama were
defeated with no
votes from their own party- 98 to 0 in the Senate, and 245-0 in the House.
Each of these budget submittals increased the federal deficit by over
1 Trillion dollars per year, forever.
The Democrats/Obama have increased the national debt by over 50%
since Obama was elected.
Real unemployment has risen from 6+% since
Obama's inauguration, to
over 15% in 2012 despite the administrations continual re-definition
of how you count the unemployed.
Energy production under the control of the
federal government has
declined every year since Obama took office. The cost of gasoline
is manipulated by forces that could be addressed by this administration,
but they do nothing about it, hoping the American public adjusts
their lifestyles to higher energy prices, thereby enabling less-efficient
energy generation (wind and solar) to be competitive with fossil fuel
generation. The biggest factor in the price of gasoline is the OPEC "tax",
which is typically 50% of the total cost per gallon.
IF THIS DOESN'T C
ONVINCE YOU TO VOTE ABO, WE ARE ALL DOOMED !
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