15 Mar
Posted by MacRanger as Uncategorized
This has been circulating for a while, and gaining steam. One thing is for sure, if the Democrats – who were in control of congress from 2006 till now somehow “allowed” the economy to collaspe there is going to be hell to pay. Here’s how.
In 1992 Democrats won the White House based on “It’s the Economy Stupid” campaign tactic, taking advantage of a recession during the waning months of George H.W. Bush’s term.
About January of last year Democrats began floating the idea of a coming recession long before it was fashionable. Even then they, and the two candidates for office, Hillary Clinton and Barack Obama, began talking about rolling back taxcuts and about the possibility of 2 trillion dollars in tax hikes.
But the current crop of Democrats were only building on the work of their predecessors. Back in 1994 we know that Bill Clinton and the Democrats who controlled congress put forth a bill to promote low-income home ownership. This we know that this was the beginning of the current mess.
This video outlines the indictment of Democrats who fiddled while the economy burned.
It’s a well established fact that Democrats resisted the calls for reform. But then they could claim “ignorance”, except that they saw a political advantage to allowing the problem to continue until we ended up where we are today. The risk was great but they were confident that a Obama-adoring media would not look into it and indeed take the opposite approach to wrongly blame it on the Bush administration.
They have no shame.
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One Response
retire05
March 15th, 2009 at 10:01 pm
1Why did the Democrats so ferociously defend the GSEs when it was clear they were faltering?
Why was there a run on the money market, pulling billions out of the economy just days after McCain took the lead?
I have always been of the belief that the Democrat, i.e. Barney Frank, Chris Dodd, et al, were fully aware of the impending doom. Too many economists, like Stan Liebowitz of the University of Texas, were warning about it. But it was to their political advantage to let it fester. I don’t think those responsible ever dreamed it would turn into the nightmare it has.
If Americans had a media with journalist standards, we would know exactly what happened. But instead, we will be hidden from the truth, just as the media hide the truth about a little known Senator from Illinois.
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