Skip to comments.Why Bush was so bad at the end of his term.
Posted on 05/02/2012 8:13:03 AM PDT by Sen Jack S. Fogbound
This may have been around before but it is worth reading it again!
This tells the story, why Bush was so bad at the end of his term.
Some people aren't aware of all of this. Don't just skim over this, please 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 3, 2007... 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!
OK, Guys! Let me say something here!
The President can only propose a budget, and gives it to the Congress. The Congress then takes it and drop it in the trash can!
They write their budget and gives it to the President for his approval or veto. They give the budget at the VERY LAST MINUTE of the Fiscal Year!
Now if the President vetoes the budget, he shuts down the Federal Government! What choice does he have? Shutting down the Government would cause a major disruption in the economy!
That’s the game the DIMS has been playing!
So Bush has to sign the budget and release it. He has to spend every penny of it. He cannot impound or hold back! That’s the Federal Law!
As for the Fanny Mae and Freddy Mac, they were in serious trouble since early 2000’s and Bush knows it. In fact, he gave the Congress warnings 14 times in his 8 years term. Nobody listened. Even Baawney said there is no problem!
The President has to keep it quiet from the public as not to create a panic.
Somebody or something moved 500 Billions from the Stock Market in an hour in 2008 and caused a financial collapse in our economy! So far to date, nobody knows who did it!
I don’t always agree with Bush on everything but he didn’t do a bad job as a President.
Bush would be a hellova better than the one we have now!
He’s not a bad man. Just not an effective President.
He rammed through tax cuts and big spending increases.
This is not exactly a profile in courage.
My God you set the bar in the mud.
Was he better than Obama? You bet. Jimmah Carter was better than Obama. Does that give you a warm fuzzy feeling?
Let’s talk about that. Do you think we need a king?
Good grief. You’re still drunk on the koolaid.
“Somebody or something moved 500 Billions from the Stock Market in an hour in 2008 and caused a financial collapse in our economy! So far to date, nobody knows who did it!”
Try looking up “money market fund” + “broke the buck” and your grand mystery will disappear.
Lehman failed on Sept 16 and that caused Reserve Primary Fund to break the buck. Fiduciaries have to protect their clients and they bailed out of Reserve Primary. There was a run on all money market funds. Money market funds had 3.5 trillion dollars in them at the start of all this, and a 500 billion swing is possible in a widespread panic.
“Want the name of the man who in part started the breakdowns that lead to it? Donald Rumsfeld. He was Gerald Ford’s Sec of Def. The military under Ford’s last tenure was pretty much like the Carter years. “
Right you are. Rummy is wildly popular with conservatives outside the military because of how he dealt with the press. But it’s not an opinion likely to be shared by the officer corps. Rumsfeld has much in common with Robert McNamara, another SecDef who believed he was wiser than all of the uniformed military.
I don't like Jimmy Carter, & I'll never like Carter. But by mid 1980 a lot of things were turning back around discipline wise and tradition wise.
In FEB 1977 on Navy ships tradition was gone with it went morale. Here is just an example. You did not hear the Bosuns Pipe used for announcements. By mid 1978 that was back. I know about the shortages etc during the Carter years. Here is something important many are missing though. I did not know of even one aircraft carrier unable to do lite off and get underway. We passed all of our readiness exercises and inspections as well including the month off GITMO.
That was certainly a major part, but another key factor was that GWB's SEC, in April 2004, in effect let the Wall Street mega-investment houses self regulate. Theoretically, the 2004 agreement gave the SEC more power, but they had neither the resources nor the talent to do it (so many experienced regulators left the government to make bigger bucks on Wall Street). Bernie Madoff had been doing his thing since the days of Clinton, but I say it got a lot uglier after that 2004 SEC meeting.
You may say that investment houses should do whatever they want, but if so, I don't want to bail them out.
had it not been for the overused 'lesser of evils' and the retard algore...
sure, initially W was prolly 'better', but i really wonder what ole albore wouldve done post 911 ??? sometimes i think that a commie in the whitehouse wouldve been pressured to, and allowed/expected to have gone massive retaliation and war, rather than the nation building of the compassionate conservative...cough cough...
I don't recall GWB doing anything like that. That doesn't sound right.
Gore was certainly capable of screwing up the economy to the extent that a similar crash could have occurred. Who knows.
I voted for GWB in 2004, but now I realize that there was no good choice. Next -> McCain. Next -> Romney. Why don’t the Dems have to run “moderates?”
Yep, and Bush didn't veto a single bill from those jackals. It may not be his fault, but he stepped aside when he still could've helped.
sometimes i cant tell if ya need a sarc tag or not...all things considered in Ws case, that was the initial issue that turned my stomach with him, reachin across to the commies to secure a few votes in the battle with albore...
it worked so well that he signed mcqueeg/feingold and let the scotus strike it down...
wait, WHAT ???
I don't remember GWB signing any bills that banned any guns. The assault gun bill expired and was never extended not even by Obama/Pelosi. There is no Federal ban on those anymore. I have no idea what you are talking about on that one.
Are you talking about something he said in the 2000 campaign?
yesSir..."get it [AWB renewal/extension] to my desk, I'll sign it"...
the congress failed to get it there, thankfully, unlike campaign finance that was delivered and signed by the compromiser, passed off for scotus to correct...
those things were merely precursors to the insanity to come from the capitulator in chief...
If I am going back to 2000 I would be more upset with GWB attacking Gore for believing in ‘nation building’ and saying that he would NEVER do that as POTUS, then conning us into the largest nation-building disaster in US history by claiming that mushroom clouds over cities were on the way and Iraq would pay for it’s own rebuilding, both total BS.
for all the campaign rhetoric, algore mightve nuked, or at least waged a destructive 'total war' on the jihadis from the gitgo, if for nothing else, to bolster his own polls/legacy...maybe not, but the 'anybody but gore' bs that gave us w is the ssdd, and the AWB stuff was a crystal ball of the appeasement to come with a meek POTUS...
he set himself up for being relentless ground down over the course of several yrs, and the financial fiasco was easy to come to pass once w was too tired to even play rope-a-dope the last couple yrs...
Just when ya think ya heard it all, this pops up.
There are some insane people out here. I'm talking lunatics here.