A Civics Lesson
One of the mantras of the new president is that "we inherited this crisis." Oh, really!
Civics lesson number one.
Unless I am terribly misinformed, legislation originates in the Congress. All spending bills originate in the House of Representatives. Both houses of Congress were taken over by the Democrats in 2006. The only bill I can recall President Bush vetoing was the SCHIP expansion bill.
When the Democrats took over the Congress the DJI was around 11,000. Unemployment had reached its lowest level in years at 4.7%. The growth in GDP from the prior year was 6.1%. The surge in Iraq had worked and we were experiencing the lowest casualty rates since the conflict had started.
Now the DJI is around 7300, unemployment is above 8% and rising, GDP increase last year was a modest 3.8%. The national debt is headed through the roof and there is a rumor of nationalizing the banks.
Who inherited what. Welcome to the United States of Amerika, comrade. Pravda ( the main stream media) can "see no evil, hear no evil - lots of speaking evil. The purge is on to silence talk radio - even an CNBC financial commentator who dared to differ with the administration's mortgage bail out. Gun control legislation is in the hopper big time. "Buy American" language in the stimulus bill is protectionism. The sop to the labor unions for their financial support is alive and well in the card check legislation in Congress.
This is relegated to not be being between right and left but between free market capitalists and socialism. Adam Smith where are you when we need you.
A giving government sounds great if you are on the receiving end but remember - "he who's bread you eat, his song you sing."
Civics lesson number one.
Unless I am terribly misinformed, legislation originates in the Congress. All spending bills originate in the House of Representatives. Both houses of Congress were taken over by the Democrats in 2006. The only bill I can recall President Bush vetoing was the SCHIP expansion bill.
When the Democrats took over the Congress the DJI was around 11,000. Unemployment had reached its lowest level in years at 4.7%. The growth in GDP from the prior year was 6.1%. The surge in Iraq had worked and we were experiencing the lowest casualty rates since the conflict had started.
Now the DJI is around 7300, unemployment is above 8% and rising, GDP increase last year was a modest 3.8%. The national debt is headed through the roof and there is a rumor of nationalizing the banks.
Who inherited what. Welcome to the United States of Amerika, comrade. Pravda ( the main stream media) can "see no evil, hear no evil - lots of speaking evil. The purge is on to silence talk radio - even an CNBC financial commentator who dared to differ with the administration's mortgage bail out. Gun control legislation is in the hopper big time. "Buy American" language in the stimulus bill is protectionism. The sop to the labor unions for their financial support is alive and well in the card check legislation in Congress.
This is relegated to not be being between right and left but between free market capitalists and socialism. Adam Smith where are you when we need you.
A giving government sounds great if you are on the receiving end but remember - "he who's bread you eat, his song you sing."
posted by Oldhugh | 4:54 PM
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