If you don't like G.W. Bush, you probably will declare that the following is wrong! This is a history lesson, so bear with me. Don't be afraid of the truth. Nothing we do can change the facts listed here!
The day the Democrats took over was not January 20, 2009 (Obama's first day as president, officially). It was actually January 3, 2007, the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress. The Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.
If you believe the fallacy that everything is "George Bush's Fault", think about this:
On January 3, 2007, the day the Democrats took control of Congress:
· 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 had set a record of 52 straight months of job creation!
January 3rd, 2007 was the day 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 the Banking and Financial Services part of the economy. THANK YOU DEMOCRATS (especially Barney Frank), for taking us from 13,000 DOW, a GDP growth of 3.5%, and 4.6% unemployment to this CRISIS by dumping $5-6 trillion of toxic loans on the economy from Fannie Mae and Freddie Mac fiascos, plus many other toxic decisions! By-the-Way: Bush asked Congress 17 times to put the brakes on Fannie & Freddie – starting in 2001 because it was financially risky for the US economy. Barney blocked it and called it a "Chicken Little Philosophy" (but...the sky did fall).
Who benefitted from the melt down? 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, especially Barney Frank, Christopher Dodd, Chuck Schumer! They played the 'race card' over and over during hearings.
So when someone tries to blame Bush: Remember 1/03/2007 - the day the DEMOCRATS took over Congress. President Bush may have been in the car, but the Democrats were in charge of the gas pedal and steering wheel while they were driving the economy into the ditch. Budgets are not passed in the White House. They are passed by Congress. The party that controlled Congress since January 2007 is the Democrat Party. Furthermore, the Democrats controlled the budget process for 2008, 2009, 2010, 2011. Senator Reid has stopped all budget votes, and Obama has now gone over 1000 days without a budget. He is still blaming it on the Republicans! In that first year, 2007, Congress had to contend with President George Bush, which caused them to compromise on spending when Bush got tough on spending increases, albeit belatedly. However, for fiscal year 2009 Nancy Pelosi & Harry Reid bypassed the lame duck President 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. Where was Barack Obama during this time? He was a member of that very Congress that passed all of those massive spending bills, and as President he signed the omnibus bill to complete 2009.
Remember what the deficits looked like during that period. The Democrats inherited the 2007 deficit, the last of the Republican budgets. That deficit was the lowest it had been in five years, and the fourth straight decline in deficit spending (even with the country fighting a war). After that, Democrats in Congress took control of spending, including Barack Obama, who voted for the bills. If Obama inherited anything, he inherited it from himself and a Democratic Congress.
In a nutshell, what Obama is saying is: "I inherited a deficit that I voted for." He then expanded that deficit four-fold since January 20, 2009. Obama has grown the deficit more than any other president, ever - more than all the others combined. There is no way this will be widely publicized unless each of us teaches others!
"The problems we face today exist because the people who work for a living are outnumbered by those who vote for a living."
- Posted using BlogPress from my iPad
Saturday, April 28, 2012
Tuesday, April 24, 2012
Senator Merkel loves us, he truly loves us!
If you live in Oregon you may have received a campaign letter from Oregon's U.S. Senator Jeff Merkley in which he puffed that he was a co-sponsor for the 'Buffett Rule'. Don't know if you have read it, but I am sorry to say almost nothing he said can be believed. I am not sure if the Senator is really as ignorant as the letter portrays. According to the letter, Warren Buffett wonders why he pays less taxes than his secretary; but we know that Mr. Buffett fights to pay as little as possible. By 'Buffett Rule' did Senator Merkley mean we can now all refuse to pay our taxes for ten years? Did he expect us to believe that if Warren Buffett had actually taken a salary instead of capital gains he wouldn't have to pay the same or higher tax rates as his poor abused secretary? Or if she was paid by means of investments and got paid by capital gains that she wouldn't pay the same capital gains tax rate as Buffett? His characterizations are dishonest. Even the CBO acknowledges taxing the dickens out of the 'millionaires, etc." will bring in a pittance. Saying, "every little bit helps" becomes a silly childish comeback.
Some of the Senator's statements are false and misleading. For example, he said, "When we make decisions about our budget, we also make a statement about our values as a nation... do we protect Social Security and Medicare, invest in our infrastructure, and give our children the skills they need in a 21st century economy?" What a load. His statements show his values - dishonesty. Senator Merkley, Harry Reid, Nancy Pilosi, and the president have done nothing to 'Protect Social Security and Medicare'. Senator Merkley, and the rest of the Democrats, refuse to acknowledge that SS is in financial trouble, e.g., there is no lock-box; there is no money in the system, it has all been borrowed to finance failed Democratic boondoggles. In fact, this week (week of 23-Apr) a report by the trustees indicates Social Security fund will totally defunct three years sooner than anyone thought. The Senator voted for Obamacare, which steals $500 billion from Medicare to finance, in part, the death panels. Obama has also proposed to take another similar amount for more profligate spending.
Another interesting tidbit: Obamacare destroys the 'Medicare Advantage' supplemental insurance program beginning in January 2013. However, since senior citizens must decide on how they will pay for supplemental insurance in October, Obama is illegally taking over $8 billion from the HHS budget to fool seniors into thinking there is no problem. Almost everyone under 65 years old probably doesn't give a rip about this - but they should. Rather looking out for senior citizens, the Democrats are attacking us. They can't get rid of us in one fell swoop, so are going to nibble us to death, with painful little cuts. And yet, Senator Merkley and Obama will expect us to be thankful. "Please, sir. Can I have some more?"
***
Excerpts from the Senator's campaign letter follows:
"This week, the U.S. Senate had the opportunity to make sure millionaires and billionaires pay their fair share of taxes. Inspired by billionaire investor Warren Buffett – who rightly asked why he should pay a lower tax rate than his secretary – President Obama proposed the much-needed "Buffett Rule."
"This rule would ensure that millionaires and billionaires cannot use loopholes and special exceptions to pay a lower tax rate on their income than hardworking middle class families. It would do so by closing loopholes for those earning more than $1 million, scaling up to an effective minimum tax rate of 30% for households earning more than $2 million.
"As a cosponsor of this legislation, I was very glad that the Senate scheduled time to debate and vote on it this week. Unfortunately, a minority of senators filibustered the motion to begin debate on the legislation. I am deeply disappointed that the Senate could not even debate this common-sense bill.
"When we make decisions about our budget, we also make a statement about our values as a nation. Are we a nation that showers millionaires and billionaires with handouts they don't need? Or do we protect Social Security and Medicare, invest in our infrastructure, and give our children the skills they need in a 21st century economy?
"With so many in our society making sacrifices to get by, I do not believe our federal government should be using its limited resources to pad the wallets of the most affluent, which is exactly what our current tax system does. Please know that I will keep fighting for a fairer and more fiscally responsible tax system."
- Posted using BlogPress from my iPad
Some of the Senator's statements are false and misleading. For example, he said, "When we make decisions about our budget, we also make a statement about our values as a nation... do we protect Social Security and Medicare, invest in our infrastructure, and give our children the skills they need in a 21st century economy?" What a load. His statements show his values - dishonesty. Senator Merkley, Harry Reid, Nancy Pilosi, and the president have done nothing to 'Protect Social Security and Medicare'. Senator Merkley, and the rest of the Democrats, refuse to acknowledge that SS is in financial trouble, e.g., there is no lock-box; there is no money in the system, it has all been borrowed to finance failed Democratic boondoggles. In fact, this week (week of 23-Apr) a report by the trustees indicates Social Security fund will totally defunct three years sooner than anyone thought. The Senator voted for Obamacare, which steals $500 billion from Medicare to finance, in part, the death panels. Obama has also proposed to take another similar amount for more profligate spending.
Another interesting tidbit: Obamacare destroys the 'Medicare Advantage' supplemental insurance program beginning in January 2013. However, since senior citizens must decide on how they will pay for supplemental insurance in October, Obama is illegally taking over $8 billion from the HHS budget to fool seniors into thinking there is no problem. Almost everyone under 65 years old probably doesn't give a rip about this - but they should. Rather looking out for senior citizens, the Democrats are attacking us. They can't get rid of us in one fell swoop, so are going to nibble us to death, with painful little cuts. And yet, Senator Merkley and Obama will expect us to be thankful. "Please, sir. Can I have some more?"
***
Excerpts from the Senator's campaign letter follows:
"This week, the U.S. Senate had the opportunity to make sure millionaires and billionaires pay their fair share of taxes. Inspired by billionaire investor Warren Buffett – who rightly asked why he should pay a lower tax rate than his secretary – President Obama proposed the much-needed "Buffett Rule."
"This rule would ensure that millionaires and billionaires cannot use loopholes and special exceptions to pay a lower tax rate on their income than hardworking middle class families. It would do so by closing loopholes for those earning more than $1 million, scaling up to an effective minimum tax rate of 30% for households earning more than $2 million.
"As a cosponsor of this legislation, I was very glad that the Senate scheduled time to debate and vote on it this week. Unfortunately, a minority of senators filibustered the motion to begin debate on the legislation. I am deeply disappointed that the Senate could not even debate this common-sense bill.
"When we make decisions about our budget, we also make a statement about our values as a nation. Are we a nation that showers millionaires and billionaires with handouts they don't need? Or do we protect Social Security and Medicare, invest in our infrastructure, and give our children the skills they need in a 21st century economy?
"With so many in our society making sacrifices to get by, I do not believe our federal government should be using its limited resources to pad the wallets of the most affluent, which is exactly what our current tax system does. Please know that I will keep fighting for a fairer and more fiscally responsible tax system."
- Posted using BlogPress from my iPad
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