Do we not recall that on January 3, 2007, jubilant and sassy Democrats rolled into The House of Representatives and the Senate at the very start of the 110th Congress quite proud of themselves, for now they controlled the nation's pursestrings. It was then, that for the first time since the end of the 103rd Congress in 1995, the Democrat Party finally controlled a majority of both chambers, and they were literally itchin' and publicly scratching for a fight.
On January 3rd, 2007 the Dow Jones closed at 12,621.77, about where it stand today, over five years later. The GDP for the previous quarter was 3.5%. The unemployment rate was 4.6%. Under the Bush administration economic policies set a record of 52 straight months of job growth! Look it up, child. January 3rd, 2007 was also the day that Barney Frank (D-MA) took over the House Financial Services Committee and Chris Dodd (D-CN) took over the Senate Banking Committee. For the next
The 2012 Financial Services Committee unveiled the Dodd-Frank Burden Tracker, an online resource to help the public keep track of all the new government rules and red tape required by the Dodd-Frank Act.
Dodd-Frank, passed by Congress in 2010, mandates that government regulators write over 400 new rules and requirements that will be imposed on the private sector. Since the law was signed by President Obama in July 2010, the Dodd-Frank Burden Tracker reveals:
Enter the Democrat Party's chorus of whining and finger pointing. But here's the real stinker. From 2001, the Bush administration asked Congress 17 times to stop Fannie & Freddie because it was financially risky for the US economy. Given our national partisan ways it comes as a surprise to no one that from his perch on the lily pad of false promises, freshman Senator Obama and the greater Democrat Congress fought vigorously against the reform of Fannie & Freddie every chance Bush offered them reformation. It also goes without saying, but why leave doubt in the minds of those who are too busy to follow the national grift culture in its day to day hijinx that many picayune Democrats took high payoffs from Freddie & Fannie while all this was transpiring, money that this government agency had no business doling out to politicians in the first place. Senator Barack Hussein Obama (D-IL) had his pockets filled under this program of theft by legislation.
We have made it clear here at the Project in the past that we had soured somewhat on the Bush administration by this time, for his own peccadilloes which have nothing to do with his monetary policy (unsound but hardly indicative of what the Democrats impose), but the next someone tries to blame Bush for the state of America's economy during the Obama reign of serfdom for all, simply report these facts.