A reader wrote in to remind our local newspaper that the daily typeset assassinations of George W. Bush so prevalent his last two years in office and the media’s praise of Barack Obama ever since are laughable to anyone remotely capable of fair prosecution. His premise was that Democrats did not take over when W left office in January 2009, which, in itelf, has been devastating; they, in fact, took over on January 3, 2007, when Bush had two years remaining, indeed the timeline for which he is historically and childishly denigrated.
On that fateful day when the legislative pendulum swung left, the economic pulse looked like this:
The Dow Jones closed at 12,621, and GDP for the previous quarter was 3.5 percent. Unemployment? Holding steady at 4.6 percent while the president’s economic policies, all told, had set a record of 52 consecutive months in a phenomenon called job creation. That’s four years and four months for the mathematically challenged – a longer elapsed time than a full presidential term.
But on that day the USA developed its new cancer. Barney Frank took over the House Financial Services Committee and Chris Dodd assumed the chair of the Senate Banking Committee – the perfect storm, ideologically speaking. Thanks to their denial of problems with Fannie Mae and Freddie Mac, tragedy struck.
With the stiffarming of a concerned president by new power residents from two houses – fending off responsible oversight – the housing and banking industry’s sudden implosion dumped between 5 and 6 trillion dollars of bad business on our economy. That is some 40% of the nation’s debt at this writing and was the veritable flashpoint of the continuing dismal American condition going on right now. And with that, trillions, a concept lost on today’s liberal leadership, eventually became synonymous with trivial.
Granted, Obama assumed a mess. Everyone in 2008 knew that the next president would, but the mire must be largely attributed to the new age begun by the aforementioned playcallers under the protective shield of Nancy Pelosi and Harry Reid. Until that casting, George W. Bush had never even had a veto overturned in six years. Yet, things were going well, with the exception of the resident doves and their issues with the war in Iraq.
The 2008 electorate was divided between those who thought the neophyte from Illinois had what it would take to help rescue the country, and those of us who did not (although we thought he would at least try, which remains arguable today).
Obama, despite being treated to the rare political luxury of being sworn in as the executive third of a liberal leaning trifecta (the Oval Office, Senate and House of Representatives) fiddled while US Main Street burned. Pet liberal policies were pursued, and unemployment got out of his and that legislature’s control no matter how many hundreds of billions of dollars they threw at it from the get-go.
His Senate majority has, to this day, become the collective authors of the no budget era of American governance with no intention of changing, and the legal citizenry pays the tab. Unemployment, as has been established, only goes down as a result of default (job seekers who have given up finding work, not because they obtained it). Underemployment has skyrocketed but, statistically, still counts as a feather in his cap.
The tide continues, and the president has long ago begun his slamming of the Republican party and whoever its candidate may be. There is nothing else for him to sell to a knowing public. Still he hopes enough will vote Democratic, and often.
The letter to the local editor was spot on. The most economically perilous four years in our nation’s illustrious history have been those under the stewardship of an inept Democrat-controlled congress, two of which were spent in adoration of a career campaigner who has the dubious honor of having the three highest years of deficit spending in US history but seeks to advance himself anyway. The date that party was entrusted with fixing the country (then immensely prosperous as compared to now) was January 3, 2007, a date that, unfortunately, also marks the beginning of our nation’s ever expanding obituary if nothing is done.
Nero must be defeated in November 2012, along with the irresponsible legislators who play second fiddle to his economy killing whims and wholesale concessions to environmentalists and leftist others. And the liberal, uncaring media should be dismissed to lives for which they are suited – that of criminal mischief, along with its real life consequences.
More Randy Lee commentary at www.therslpost.com