Since the Democrats Took Control of Congress

[VaYank5150]

Since the Democrats Took Control of Congress

Good, solid post Frank. You are obviously trying. Thanks. Now, while I have not had time to digest everything in your post, can you please tell me one thing the Democrats DID to cause all of the ills you listed?

For starters, Democrats are anti-business, anti-free enterprise; they threw free trade with Columbia under the bus. They have no respect for private property or the Rule of Law and believe that all wealth rightfully belongs to the State to distribute as it sees fit.

Instead of finding new sources of energy, they are on a campaign to cut our energy production as mush as possible taking our economy down with it

Most telling was that they tried on 47 separate occasions to strand this nations soldiers on the filed of battle by cutting off their funding. Who in their right mind would want to do MORE business with a country so bent on suicide?

I asked you to give me one example of something the Democrats have done that impacted our economy as you suggest they have. Do you have even one?

 

[garyd]

Did you read my post?

 

[edthecynic]

Nonsense, stonewalling of reform for FAnnie and Freddie by the Dems from 2003 onward is the primary culprit in the collapse of the housing market and the precursor to the collapse of the finanacial markets.

To date the Dems have done absolutely nothing to solve the underlying problem in the housing market. They have merely papered over the problem by stealing money from our grandkid's pockets.

BALONEY!!!

There was nothing wrong with Fannie and Freddie UNTIL Bush and the GOP changed the rules with their ADDI in Dec 2003. ADDI is the primary culprit in the crash of the wonderful Bush economy. You know it and I know it.

Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) is what changed the rules to allow no downpayment loans, to people with bad credit, for more than the house was worth and who were at least 20% below the median income for the neighborhood.

American Dream Downpayment Initiative - Affordable Housing - CPD - HUD
American Dream Downpayment Initiative
Summary

The American Dream Downpayment Initiative (ADDI) was signed into law on December 16, 2003. The American Dream Downpayment Assistance Act authorizes up to $200 million annually for fiscal years 2004 - 2007. ADDI will provide funds to all fifty states and to local participating jurisdictions that have a population of at least 150,000 or will receive an allocation of at least $50,000 under the ADDI formula. ADDI will be administered as a part of the HOME Investment Partnerships Program, a formula grant program.

Purpose

ADDI aims to increase the homeownership rate, especially among lower income and minority households, and to revitalize and stabilize communities. ADDI will help first-time homebuyers with the biggest hurdle to homeownership: downpayment and closing costs. The program was created to assist low-income first-time homebuyers in purchasing single-family homes by providing funds for downpayment, closing costs, and rehabilitation carried out in conjunction with the assisted home purchase.

Type of Assistance

ADDI will provide downpayment, closing costs, and rehabilitation assistance to eligible individuals. The amount of ADDI assistance provided may not exceed $10,000 or six percent of the purchase price of the home, whichever is greater. The rehabilitation must be completed within one year of the home purchase. Rehabilitation may include, but is not limited to, the reduction of lead paint hazards and the remediation of other home health hazards.

Eligible Customers

To be eligible for ADDI assistance, individuals must be first-time homebuyers interested in purchasing single family housing. A first-time homebuyer is defined as an individual and his or her spouse who have not owned a home during the three-year period prior to the purchase of a home with ADDI assistance. ADDI funds may be used to purchase one- to four- family housing, condominium unit, cooperative unit, or manufactured housing. Additionally, individuals who qualify for ADDI assistance must have incomes not exceeding 80% of area median income.

Eligible Activities

ADDI funds may be used for downpayment, closing costs and, if necessary, rehabilitation in conjunction with home purchase. ADDI funds used for rehabilitation may not exceed twenty percent of the participating jurisdiction's total ADDI allocation. The rehabilitation assisted with ADDI funds must be completed within one year of the home purchase.

Funding Status

In FY 2007, Congress appropriated $24,750,000 for ADDI. Previously, Congress appropriated $74,513,000 in FY2003 and $86,984 in FY2004, $49,600,000 in FY2005 and $24,750,000 in FY2006. HUD has issued formula allocations for FY 2007 to assist participating jurisdictions in preparing their consolidated plans.

Obtaining Assistance

First, check the formula allocation page to determine whether your local HOME administering agency received ADDI funding. If they did not receive ADDI funding, ADDI funds may be available through your state. Every state received ADDI funds. The contacts for state are available in the HOME administering agency list.

USATODAY.com - Bush seeks to increase minority homeownership

Bush seeks to increase minority homeownership
By Thomas A. Fogarty, USA TODAY

In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.

In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.

Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.

The FHA isn't a direct lender, but guarantees loan payments for mortgages on moderately priced owner-occupied property. The FHA guarantee now permits private lenders to finance as much as 97% of the purchase price of a home for millions of low- and middle-income borrowers.

In the proposal soon to be delivered to Congress, Bush would allow the FHA to guarantee loans for the full purchase price of the home, plus down-payment costs. As a practical matter, the FHA would guarantee mortgages as high as 103% of the value of the underlying property.

 

[JakeStarkey]

ADDI needed Dem votes to pass. Many GOP and some Dems voted for this terrible bill. And then the worst president since Andrew Johnson signed it. Yeah, it was generally the GOP's fault with some help from the Dems.

 

[CrusaderFrank]

Most telling was that they tried on 47 separate occasions to strand this nations soldiers on the filed of battle by cutting off their funding. Who in their right mind would want to do MORE business with a country so bent on suicide?

Link for this, that way when you give one, I can prove you wrong.

Still waiting for the Republicans in this thread to give me a link to such accusations.

S. 433 [110th]: Iraq War De-Escalation Act of 2007 (GovTrack.us)

BBC NEWS | Americas | Democrats frustrated in Congress

“The Democratic Congress will go on record – every day if necessary – to register a judgment in opposition to the course of action that the President is taking in Iraq. The Democratic Congress will go on record – every day if necessary – to fight for a redeployment of our forces as the central element of a New Direction strategy for Iraq.”
- Speaker Pelosi, 7/25/07

Speaker Nancy Pelosi | Current Legislation

Pelosi Vows To Block Funding For Troops In Iraq

Pelosi Vows To Block Funding For Troops In Iraq | Sweetness & Light

“President Bush insists on war without end in Iraq, but Democrats in Congress stand with Americans who want to bring our troops home responsibly, safely and soon, and with taxpayers who believe that the Iraqi government must begin to pay its fair share for the reconstruction of their country. With Americans confronting an economy teetering on the brink of recession and struggling to afford rising prices, we are extending unemployment benefits for those searching for work and supporting a new GI Bill to help make the veterans of the wars in Iraq and Afghanistan part of our economic recovery. Democrats are putting rebuilding America on par with the President’s priorities. We have crafted an Iraq plan the President should sign—and one that makes the economic needs of the American people a priority once again.” Nancy Pelosi May 6, 2008

"In addition to the war funding, an Iraq accountability amendment will place tough restrictions on the use of funding, begin the redeployment of U.S. troops, and require the Iraqi government to begin to pay for the reconstruction of their country."

The Gavel » Iraq

The House has just passed two of three amendments constituting the emergency supplemental bill. Amendment #1, which contained the funding for the wars in Iraq and Afghanistan, failed after 132 Republicans voted present, refusing to take a position for or against. Amendment #2 placing restrictions on the Iraq policy, and Amendment #3 funding domestic priorities including an expanded GI Bill and unemployment insurance, both passed.

Speaker Pelosi, who voted against the war funding included in Amendment #1 and in favor of Amendments #2 and #3, said of the votes:

“With today’s vote, the Republicans have shown that they are confused and are in disarray. House Republicans refused to pay for a war they support, and by voting against the GI bill, they refused to support our veterans when they come home.”

Democratic Leader Steny Hoyer added:

“On this war funding vote, Democratic members – to a person – had the courage of their convictions and cast either a yes or no vote. The same cannot be said for the 132 Republicans – or two-thirds of Republican Members – who refused to cast a yes or no vote on this very clear issue and instead voted ‘present.’ They failed to take a stand. And, I can only speculate as to how they intend to explain that to their constituents back home.”

The Gavel » Iraq

5 minutes without even trying.

Want to go over The Surge?

 

[CrusaderFrank]

Then and Now:

1) Consumer confidence stood at @ 102.9. Consumer confidence plummet 54 which is an increase over the last 2 months! That’s down from 102!

2) Regular gasoline sold for $2.19 a gallon. The cost of regular gasoline soars to over 4.12 and is now $2.58 a gallon;

‘With Skyrocketing Gas Prices, Americans Can No Longer Afford Rubber Stamp Congress” Nancy Pelosi Monday, April 24, 2006

Barack Obama: “I think that I would have preferred a gradual adjustment.” June 2008

3) The unemployment rate was 4.5%. Unemployment is now 9.7%

4) Gold was $625 down from $700 in May 06 when it looked like Reps might hold control. Spot Gold 9/17/2009 $1012.

5) Barrel of Crude $60. Barrel of Crude $72 (9/17/09) Price of crude falls as US Economic activity continue to contract under Socialist policies of Obama & Dems.

6) Value of Dollar (euro) 1.28. Value of Dollar (euro) 1.47

7) Deficit $248 Billion. The Number is so huge we need to use scientific notation. It’s 1.8 X10^12 !!

8) US Debt $8.4T. We need to use Scientific notation again because the debt ceiling was just raised to 1.2X10^13!

“America has a debt problem and a failure of leadership.” -- BH Obama

 

[concept]

Aside from the "indisputable" stupidity of CON$ervative rationalizations, please tell us what specific laws the the 110th Congress, that took office on Jan 4, 2007, "inflicted on the US economy" in November of 2006????????

And as a follow up, what specific laws on what dates did the Dems get passed the record number of GOP filibusters after Jan 4, 2007 that might have burst the Bush economic bubble????

The Bush economic house of cards fell from its own inertia without any help from the Dems!!!

So what you are really telling us is that the dems were either:

a) so incompetent that they never thought anything was wrong? As evidenced by their bleating that Fannie/Freddie was fine.

or

B) so despicable and power hungry that they did see a problem but deliberately CHOSE not to do anything about it so that they can use the negative talking points to gain power.

Which one is it lib?

Neither, of course.

You are saying that because you can show nothing that the Dems actually did to damage the wonderful Bush economy, they are STILL the ones who are responsible for the collapse of the wonderful Bush economy because when the GOP screws up it's the Dems fault for not stopping the GOP from screwing up. BRILLIANT

[ame=http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=player_embedded]YouTube - Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis[/ame]

Watch as the democrats show themselves to be clueless and/or outright lying about Fannie and Freddie.
From 2004.

 

[MarcATL]

Remarkable how the libs here have no compelling argument against Bush, so I guess I'll have to make one for them.

In the 8 years Bush was president, the number of private sector jobs decreased slightly. In the 8 years Clinton was president, the number of private sector jobs increased by 21 million. Virtually all of the 2 million net jobs created while Bush was in office were in the government. Virtually all of the 22 million net jobs created while Clinton was in office were in private corporations. Under Clinton, gov't spending rose 30% over 8 years, under Bush it more than doubled.

Libs, you are so caught up in anger over W, you don't realize how bad his economic record really was. Republicans, if you believe so strongly in limited government, stop defending a president who did not.

I appreciate your post, however, check my siggy for evidence against the Bush Administration.

 

[CrusaderFrank]

The Two Reasons the Economy has Tanked since the end of 2006

Presidential Succession Act of 1792

"The Presidential Succession Act of 1792 declared that, in the event of the removal, resignation, or death of both the President and Vice President, the President pro tempore of the Senate was next in line of succession after the Vice President, followed by the Speaker of the House of Representatives."

 

[Meister]

Remarkable how the libs here have no compelling argument against Bush, so I guess I'll have to make one for them.

In the 8 years Bush was president, the number of private sector jobs decreased slightly. In the 8 years Clinton was president, the number of private sector jobs increased by 21 million. Virtually all of the 2 million net jobs created while Bush was in office were in the government. Virtually all of the 22 million net jobs created while Clinton was in office were in private corporations. Under Clinton, gov't spending rose 30% over 8 years, under Bush it more than doubled.

Libs, you are so caught up in anger over W, you don't realize how bad his economic record really was. Republicans, if you believe so strongly in limited government, stop defending a president who did not.

I think it would help your post greatly if you could supply your source.

 

[EriktheRed]

Since the Democrats Took Control of Congress

...wingnuts have been getting even wingnuttier.

 

[CrusaderFrank]

Since the Democrats Took Control of Congress

...wingnuts have been getting even wingnuttier.

The Pelosi Premium. It's the extra money the Capital Markets have been charging us since the above happened.

That's why gold is up, the dollar in the tank and being abandoned, our AAA Credit rating about to go away, consumer confidence down for the count, real estate prices flushed away, energy prices rising, and the only "engine" driving the economy money is giving government money to ACORN so they can abet in the importing of underage prostitutes.

 

[manu1959]

There's been a number of ridiculous articles describing how bad the Bush economy was and while Bush was indeed a tremendous disappointment to Conservatives who didn't quite grasp that his "Compassionate" modifier meant "anti", the Bush economy was good.

The trouble started once the Democrats, a Party so anti-American that they tried on 47 separate occasions to stop funding our men and women in combat, took control of Congress.

These are the facts and they are indisputable.

When Democrats took control of Congress:

1) Consumer confidence stood at @ 102.9

November 28, 2006 – blah, blah, blah

... the crippling damage Democrat policies inflicted on the us economy sending it into cardiac arrest ... blah, blah blah

... since Pelosi Dems lied their way into control of Congress in Nov 2006

Aside from the "indisputable" stupidity of CON$ervative rationalizations, please tell us what specific laws the the 110th Congress, that took office on Jan 4, 2007, "inflicted on the US economy" in November of 2006????????

And as a follow up, what specific laws on what dates did the Dems get passed the record number of GOP filibusters after Jan 4, 2007 that might have burst the Bush economic bubble????

The Bush economic house of cards fell from its own inertia without any help from the Dems!!!

ya the lending laws signed by carter and clinton had nothing to do with it....the dems could have regulated the lending industry to stop it....they had about a year before it started to nose over.....

but to blame bush for the lending laws and derivitaves is silly especially since mccain and the bush admin try to push some bills through to regulate the industry.....

 

[LibocalypseNow]

Yes i have been saying this for a long time. As usual the corrupt Liberal Press conveniently ignores these facts. The Economy began to tank right around the time the Democrats took complete control of Congress. It only got worse & worse under their control. It really does surprise me how so few understand this. I noticed it and i'm just glad someone else noticed it too. I don't feel so lonely anymore. lol! Thanks.

 

[KMAN]

There's been a number of ridiculous articles describing how bad the Bush economy was and while Bush was indeed a tremendous disappointment to Conservatives who didn't quite grasp that his "Compassionate" modifier meant "anti", the Bush economy was good.

The trouble started once the Democrats, a Party so anti-American that they tried on 47 separate occasions to stop funding our men and women in combat, took control of Congress.

These are the facts and they are indisputable.

When Democrats took control of Congress:

1) Consumer confidence stood at @ 102.9

November 28, 2006 – The Conference Board’s Consumer Confidence Index fell by 2.2 index points to 102.9 in November (Chart 1). This index has fluctuated between 100 and 110 for the last twelve months.
Economic Snapshots ® - November Consumer Confidence - Nov 28, 2006

2) Regular gasoline sold for $2.19 a gallon;

November 19 2006: 3:31 PM EST

CAMARILLO, Calif. (CNN) -- Gasoline prices at U.S. pumps rose an average of a nickel a gallon over the last two weeks, ending three months of falling prices, according to a national survey released Sunday.
The Nov. 17 Lundberg Survey of about 5,000 gas stations across the country showed the average price of a gallon of self-serve regular gas was $2.23, a penny lower than the same week a year ago, publisher Trilby Lundberg told CNN.
Gasoline prices rise after 3 month slump, survey* - Nov. 19, 2006

3) The unemployment rate was 4.5%.

Bureau of Labor Statistics Data

4) Gold was $625 down from $700 in May 06 when it looked like Reps might hold control
Gold starting climbing as soon as the US election results were in, by the end of the month it was at 645.

London Fix Historical - result

5) Barrel of Crude $60

Crude oil, avg, spot price chart
In less than 2 years, the anti-drilling, anti-business Democrats had spooked the Capital Markets so badly oil spike at over $120 a barrel! The chart says it all! The only thing that dropped prices was the crippling damage Democrat policies inflicted on the us economy sending it into cardiac arrest

6) Value of Dollar (euro) 1.28

Monthly Average Graph (American Dollar, Euro) 2006

7) Deficit $248 Billion

http://www.whitehouse.gov/omb/budget/fy2009/pdf/hist.pdf (page 31)

8) US Debt $8.4T

http://www.whitehouse.gov/omb/budget/fy2009/pdf/hist.pdf (Page 132)

Since then:

1) Consumer confidence plummet 54 which is an increase over the last 2 months! That’s down from 102!

Consumer Confidence Index - The Conference Board

2) The cost of regular gasoline soars to over 4.12 and is now $2.58 a gallon;

Gas Price Historical Price Charts - GasBuddy.com

‘With Skyrocketing Gas Prices, Americans Can No Longer Afford Rubber Stamp Congress” Nancy Pelosi Monday, April 24, 2006

Barack Obama: “I think that I would have preferred a gradual adjustment.” June 2008

3) Unemployment is up to 9.7%

Bureau of Labor Statistics Data

Again, look at the hockey stick spike in US unemployment since the Dems took over Congress

4) Spot Gold 9/17/2009 $1012. It was $625 when Dems took over Congress

24-hour Spot Chart - Gold

5) Barrel of Crude $72 (9/17/09) Price of crude falls as US Economic activity continue to contract under Socialist policies of Obama & Dems.

6) Value of Dollar (euro) 1.47

Euro (b) vs United States Dollar Spot (EUR/USD) Quote

7) Deficit

The Number is so huge we need to use scientific notation. It’s 1.8 X10^12 !!

http://www.cbo.gov/ftpdocs/99xx/doc9957/01-07-Outlook.pdf

8) US Debt

We need to use Scientific notation again because the debt ceiling was just raised to 1.2X10^13!!

“America has a debt problem and a failure of leadership.” -- BH Obama

And don’t forget:
1,900,000 American homes are in foreclosure;
the USA Stands to lose it AAA Credit Rating;
and Communist China is lecturing the USA on Fiscal responsibility!

The Road to recovery starts when the Democrats are in a solid minority and Conservatives are turning the US economy back to citizens, business people and entrepreneurs of all stripes!

The Capital Markets have spoken: they do not want any part of a nation run by modern Democrats (aka: NeoMarxists, NeoNazis, Statists) and have been selling America short since Pelosi Dems lied their way into control of Congress in Nov 2006

Oh yeah...Well It's Bush's fault!

That is the typical left wing answer....

 

[KMAN]

There's been a number of ridiculous articles describing how bad the Bush economy was and while Bush was indeed a tremendous disappointment to Conservatives who didn't quite grasp that his "Compassionate" modifier meant "anti", the Bush economy was good.

The trouble started once the Democrats, a Party so anti-American that they tried on 47 separate occasions to stop funding our men and women in combat, took control of Congress.

These are the facts and they are indisputable.

When Democrats took control of Congress:

1) Consumer confidence stood at @ 102.9

November 28, 2006 – blah, blah, blah

... the crippling damage Democrat policies inflicted on the us economy sending it into cardiac arrest ... blah, blah blah

... since Pelosi Dems lied their way into control of Congress in Nov 2006

Aside from the "indisputable" stupidity of CON$ervative rationalizations, please tell us what specific laws the the 110th Congress, that took office on Jan 4, 2007, "inflicted on the US economy" in November of 2006????????

And as a follow up, what specific laws on what dates did the Dems get passed the record number of GOP filibusters after Jan 4, 2007 that might have burst the Bush economic bubble????

The Bush economic house of cards fell from its own inertia without any help from the Dems!!!

Great support for your response....LOL

 

[KMAN]

Remarkable how the libs here have no compelling argument against Bush, so I guess I'll have to make one for them.

In the 8 years Bush was president, the number of private sector jobs decreased slightly. In the 8 years Clinton was president, the number of private sector jobs increased by 21 million. Virtually all of the 2 million net jobs created while Bush was in office were in the government. Virtually all of the 22 million net jobs created while Clinton was in office were in private corporations. Under Clinton, gov't spending rose 30% over 8 years, under Bush it more than doubled.

Libs, you are so caught up in anger over W, you don't realize how bad his economic record really was. Republicans, if you believe so strongly in limited government, stop defending a president who did not.

Oh yeah, well back when Reagan was President....

 

[LibocalypseNow]

Worst Congress in U.S. History? You bet!

 

[KMAN]

Since the Democrats Took Control of Congress

Good, solid post Frank. You are obviously trying. Thanks. Now, while I have not had time to digest everything in your post, can you please tell me one thing the Democrats DID to cause all of the ills you listed?

How about Barney Frank ignoring the warnings of the housing collapse.... The know, the thing that started this whole recession...

 

[edthecynic]

There's been a number of ridiculous articles describing how bad the Bush economy was and while Bush was indeed a tremendous disappointment to Conservatives who didn't quite grasp that his "Compassionate" modifier meant "anti", the Bush economy was good.

The trouble started once the Democrats, a Party so anti-American that they tried on 47 separate occasions to stop funding our men and women in combat, took control of Congress.

These are the facts and they are indisputable.

When Democrats took control of Congress:

1) Consumer confidence stood at @ 102.9

November 28, 2006 – blah, blah, blah

... the crippling damage Democrat policies inflicted on the us economy sending it into cardiac arrest ... blah, blah blah

... since Pelosi Dems lied their way into control of Congress in Nov 2006

Aside from the "indisputable" stupidity of CON$ervative rationalizations, please tell us what specific laws the the 110th Congress, that took office on Jan 4, 2007, "inflicted on the US economy" in November of 2006????????

And as a follow up, what specific laws on what dates did the Dems get passed the record number of GOP filibusters after Jan 4, 2007 that might have burst the Bush economic bubble????

The Bush economic house of cards fell from its own inertia without any help from the Dems!!!

Great support for your response....LOL

Well, it certainly stymied you CON$ since you couldn't post any Dem legislation that got past the GOP record number of filibusters that killed the robust Bush economy. All you can do is attack me personally.

Now, on the other hand, I can show you GOP legislation that made no down payment loans to buyers with bad credit and who couldn't afford to live in the neighborhood they were buying into for more than the value of the house, which burst the housing bubble.
It's Bush's American Dream Downpayment Initiative or ADDI for short.