2003-2006 Republican Congress Vs 2007-2010 Democrat Congress

The economic malaise from which we now suffer was caused by Democrats.

Democrats gave us the sub-prime mortgage crisis and the fierce resistance, to reining in its abuses, leading to the housing collapse, bringing about the collapse of the economy.

All bills for raising revenue (thus spending) must originate in the House of Representatives. Democrats have controlled the House and Senate, since January 2007. Republicans controlled both from 2003 through 2006.

The Bush Tax Cuts Had No Bearing Whatsoever on Today’s Recession

-It is Impossible For A Tax Cut To Hurt The U.S. In Any Way, Unless:

-A Nation is UNDER TAXED to meet essential services

-Does any economically literate person believe Americans are under taxed?

2003-2006 Republican Congress Vs. 2007-2010 Democrat Congress

________Unemployment Rate________

Democrat Congress Present Data July 2010——–9.5%

Republican Congress December 2006 Final Month—4.5%

Source: Bureau of Labor Statistics

________Total Number of Unemployed________

Democrat Congress Present Data July 2010——-14.6 Million

Republican Congress December 2006 Final Month—7.0 Million

Source: Bureau of Labor Statistics

Total Deficits Democrats 2007-2010–Republicans 2003-2006

Democrat Congress 4 Yearly Deficits————$3 Trillion, 374 Billion

Republican Congress 4 Yearly Deficits———–$1 Trillion, 356 Billion

Source: Budget of the United States, Office of the President

Increase or Decrease In Revenues To Government

Republican Congress 2003-2006 (+) Plus $830.3 Billion

Democrat Congress 2007 To Present (-) Minus $281.2 Billion

Source: Bureau of Economic Analysis-Dept. of Commerce

Increase in Disposable Income -Inflation Adjusted

Republican Congress December 2003-2006——-$1820

Democrat Congress 2007-2010——————$ 427

________Black Unemployment________

Democrats—–July 2010——-15.6%

Republicans—-Dec. 2006——–8.4%

Source: Bureau of Labor Statistics

________Hispanic Unemployment________

Democrats———-July 2010–12.1%

Republicans——–Dec. 2006–4.9%

Source: Bureau of Labor Statistics

________Teen Unemployment________

Democrats———-July 2010—26.1%

Republicans——–Dec. 2006—15.2

Source: Bureau of Labor Statistics

-Revenues are Never The Problem in America, Excessive Spending Always is

-America does not need 1 More Penny For Essential Services

-It does need to cut the cost of the federal government as a % of GDP (the national income) from 25% to 16%, over 8 years.

Limiting spending to 16% would pull all that capital back into the private sector, where all net wealth creation and job creation takes place. Per capita income would soar for doing exactly what each worker is doing right now. This exact principle is what gave us soaring growth in the 1990’s.

Entitlements/Welfare must be reined in. “All” able bodied men and women must perform a service meaningful to taxpayers as a first requirement to be eligible for welfare. Families must take in and support all welfare recipients in most cases.

________The Bush Tax Cuts________

-Not a single person was hurt or treated unfairly by the Bush Tax Cuts

-The highest percentage cuts went to the lowest bracket taxpayers-33%, the smallest cuts to the highest bracket-12%.

-All “net taxpayers” were helped from the Bush tax cuts, until Democrats took control of congress, in January, 2007

-Every vital area of the economy made strong gains through 2006, the strongest by the lowest income Americans–(CBO Study 1995-2005 )

_Disposable income was $1800+ higher, for every man woman and child by December 2006

“It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.” – President John F Kennedy Dec. 14th 1962

JFK has many quotes, citing free market principles. Every JFK quote is 100% consistent with the Bush tax cuts and are as free market/limited government oriented (or more so) than that of every one of today’s Democrats; even more than many Republicans in congress today.

JFK’S quotes are also entirely consistent with the conclusions (along with the actual data) stated in this article.

http://www.wnd.com/news/article.asp?ARTICLE_ID=39517

-Almost immediately after Democrats took control of congress, the economy started slowing, then very quickly tanked.

-Democrat forced legislation, starting with Jimmy Carter’s Community Reinvestment Act, then expanded by Bill Clinton, then by threats and shameless intimidation by the Reno Justice Department, using ginned up data, led to the following:

-Democrat spending measures and strong armed support by Democrats to ACORN-led at the time by community activist Barack Obama

-Sub-prime mortgages forced on America by Democrats, ACORN and the Reno Justice department.

-Misuse and corruption of Fannie Mae and Freddie Mac by top Clinton Cronies, Raines, Gorelick, Johnson, etc.

No one boasted more about the great contribution to America of sub-primes, leading to Fannie and Freddie abuses, than Barney Frank and no one did more to block steps to avoid the collapse of the economy caused as a result of Fannie and Freddie’s monstrous corruption, than Frank.

Now he’s done a 180. Barney Frank has told Larry Kudlow, Fannie and Freddie should be abolished.

________Contrast Barney Frank-Then With Now________

See Barney Frank as early as 2004, praising the success of the sub-prime mess, as fellow Democrats ignore warnings by a federal regulator, even attacking the regulator as he warned the House Banking Commitee (Frank was the Ranking Democrat) as to what appeared to be a coming disaster, which is exactly what we got.

If you go to YouTube and search for Barney Frank, it is easy to find his videos including the one mentioned above. Frank is shown resisting attempts to rein in the whole sub-prime mess, while declaring its huge success, and subtly suggesting the callousness of Republicans. Frank’s Democrat underlings, Maxine Waters, Gregory Meeks, Lacy Clay, Arthur Davis cast all kinds of aspersions at the federal regulator.