4 Largest Causes of US DEBT

This posting is in response to a Graphic that the LEFT is throwing out there. I found it on a Facebook page called ‘Go Left‘.

 

Click for a larger image

 

Let us review some facts on spending, debt and the root cause of our economic downturn.

Jan. 3, 2007 110^th Congress takes their sworn Oath of Office. The Democrats hold a Majority in both the House & Senate. The TOTAL Debt BEFORE they took over ~ $8.5 Trillion.  (see Chart below)

Debt Chart. Click for a larger image view.

2007 Debt = ~ $9.0 Trillion — 0.5 Trillion INCREASE

2008 Debt  = ~ $10 Trillion— 1 Trillion INCREASE (1^st year EVER for that much DEBT INCREASE in HISTORY) Note: Barack Hussein Obama Wins the White House via massive Voter Fraud and Full support by a Main Stream Media that refuses to do THEIR J-O-B!

2009 Debt = Over $12 Trillion (Dems control House, Senate & the White House) and an over $2 Trillion INCREASE. Congratulations—- A NEW WORLD RECORD!

Note: During 2009, while all of this SPENDING was going on, a RAG TAG group of  people, just a handful of people too if you believe the Liberal MSM, started to meet with each other. Say “HELLO” to a JUST A FEW of my BUDDIES!!

The TEA Party.

The 9-12 March on DC.

8-28-10 Restoring Honor Rally in DC. Click for a larger image.

2010 Debt = Just UNDER $2 Trillion INCREASE to ~ $14 Trillion (AND they spent roughly 3 months campaigning and LOST control of the HOUSE to the Republicans)

2011 Debt = Republicans slowed the $2 TRILLION INCREASES to almost HALF and total Debt is a little over $15 Trillion

And ANOTHER RECORD set by the Dems, it’s been over 1200 DAYS since the Senate has passed a budget.

Summary: The 4 BIGGEST DEBT DRIVERS are Pelosi, Reid, BHO and democRATS! $5.5 TRILLION INCREASE (14Tril – 8.5 Tril = 5.5) in ONLY 4 years from 2007 through 2011!

Stimulus = Fail; Clash for Clunkers = Fail; Auto Bailout = FAIL; Solyndra/Green Initiative = FAIL; Root Cause of the poor economy NOW was the Frank/Dodd financial policy w/ Fannie Mae and Freddie Mac…. and I could go on & on, but it’ll just make the Liberals mad.

Respectfully submitted by SilenceDogood2010 this Twelfth Day of August in the Year of Lord, Two Thousand Twelve. 

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Inheritance?????

Inheritance is the practice of passing on property, titles, debts, rights and obligations upon the death of an individual.

This tells the story of why Bush was so ‘BAD’ at the end of his term.

 

Don’t just skim over this, it’s not very long, read it slowly and let it sink in. If in doubt, check it out!!! From REAL sources, not the Daily KOS / Huffington  Post /  Obama’s websites or other liberal sources.

 

The day the democrats took over was NOT January 22nd 2009, it was ACTUALLY January 3rd 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 that 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!

 

U6 Unemployment Chart. Click for larger image.

 Roughly 30% unemployment for the 1st quarter of 2012!

 

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? That would be Barack Hussein 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 Hussein 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.

 

 

Note the 2007 deficit on the chart. Then note the DRASTIC INCREASES starting in 2008. This belongs solely to the Democrats. Again, click for a larger image.

 

 

 

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 20^th 2009 when I took the office of the President of the United States.

 

 

 

There is no way this will be widely publicized, unless each of us sends it onward.

Respectfully submitted by SilenceDogood2010 this Second Day of June in the Year of our Lord, Two Thousand Twelve.

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