Sunday, September 23, 2012

Obama, Democratic Congress and Bailout Ben Bernanke: To Blame for Economic Mess That GOP House Has Inherited

Hacker Boy (hacking into this disgraceful blg in the interest of truth, despite the ridicule Skip heeps upon me, and no longer bothering to deny Skip's assertin that I am Piers Morgan using the hacking skills I learned as an employee of a Rupert Murdoch company in Britain):  "Skip, I can't even believe that yu are going to have the unmitigated gall to do what the headline suggests you are going to do:  BLAME Obama and the Democrats in Congress for the economic collapse atthe end of the Bush Presidency.  Even yu, as outrageous as you are, could not possible try that.  Tel me it isn't so."

Skip:  "Ah, Hacer Boy knows me so well.  While I would not go so far as to absolve President Bush of all blame, it is absurd to say that President Bush--who I disowned in this blog in 2006--was any more responsible for our economic problems that happened in 2008 than Obama and the Democratic Congress of 2007-2008 (Democrats taking control of both houses of Congress in the 2006 electins), and the Fed Chairman (appointed in relatively early 2006, and thus the most powerfu financial person "presiding" over the Federal Reserve faiure during the crucial 2 year period before the economic collapse/financial "crisis" in the fall of 2008, and the worst recession cince the Great Depression, beginning in January of 2008)."

Barack Obama was eleted to the United States Senate in 2004.  He became part of teh Democrat majority in Jaunuary of 2007. Democrats in that Conggress ARE to BLAME for the terrible recession of 2008, and that includes Senator Brarack Obama.

Lookk at the facts  The "Bush economy" had totally rECOVERED from the Clinton recssin of 2000, which began the Bush Presidency, and from the twin "disasters" of the 9/11 attack and the Enron-WorldCom financial shennigans (a followup to the bursting of the Nasdaq tech bubble that rose under Clinton, when the Enron/WorldCom-type financial games began).   The "Bush economy" ws doing WELL in 2006, and into 2007.  Jobas wre being created.  Unemplyment wsa 5% and UNDER (full emplyment). 

What happened?  Democrats assumed control of CONGRESS in Janaury of 2007, after Bailut Ben Bernanke had been apponted Chairman of the Federal Reserve in mid-2006.  Now it is ture that President Bush apponted Bernanke, but it is DEMOCRATS who have LOVED that choice, and still do  Obama reapponted Bernanke, and you can assume that Obama and Democrats APPROVEd of what Bernanke did id--or did not do--in 2006-2007. Unlike the GOP House NOW, Democrats have NEVEr compalined abut Baillout Ben (The Worst Failure in the History of World Finance). 

Thus, WHAT CHANGED in January of 207 was that OBAMA/DEMOCRATS assueed control of Congres, and Bailut Ben Bernanke (pursuing Democrat/liberal financial policies) settled in attthe Fedeeral Reserve.  Given that FACT, expaln to me (if yu canm, and yoiu can't) why Obama and the otgher De mocrats in Congress, along with Bernanke, are not the OBVIUS people to BLAME for the recession of 2008?  They ASSUMEDL POWER, and the recesskin/economic collapse happened.  Even before 2007, whch is why I disowned him in 2006, Presdient Bush had turned over DOMESTIC POLIOCY to the Democrats in Congress.  Indeed, in 2996 Bush named Hank Paulson--ADMOCRAT FAVORITE, and basicallly a DEMOCRAT himself from DEMOCRAT dominated Goldman Sachs, and who Democrats NEVER criticized to the very end) to be Secretary of teh Treasury.  Was President Bush part of al of this?  Sure.  But CONTROL was now in the hands of DEMOCRATS, and people who believed in DEMOCRAT (leftist) "solutions" to economic threats.  It is no ACCIDENT that the FIRST "stimulus" was the Obama/Bush/Democrat FAILUED "stimulus"  in the spring and summer of 20008 (that $6000 welfare payment to almost everyone). 

It awas always absurd--although a lpint Joh MccAin was both unable to make, because it applied to HIM as well, and unwilling to make) to say that Obama "inherited" the "economic mess" from President Bush.  Obama WAS THERE.  He was PART OF THE POLICIES THAT LED TO THE RECESSION.  Democrats were virtualy in CONTROL of economic policy in 2007 and 2008.  I tis much more accurate to say thatt he GOP HOUSE has NOW "inhherited" the economic mess created by DEMOCRAT/leftist policies (which Bush did not adequately fight), than it is to say that Obama "inherited" the "economic mess" that he HELPED CREATE (along with Democrats who thoiught exactly like himm, such as nancy Pelosi and Harry Reid).  What did SNATOR OBAMA even PROSE that was DIFFERENT fromt he policies being pursued in 2007 and 2008?

What, by the way, DEMOCRATS propose to address teh "financial manipulations"  that were such a problem in 2001 and 2002--a proposal aCCEPTED by the GOP land which became law? Yep.  That is how we got the "bipartisan" Sarbanes-Oxley bill imposing all kinds of PAPERWORK on businesses, while accomplishing NOTHNING.  We always "fight the last war, and wvae a Federal Government "magic wand" that never has any magic.  If you remember, like the Obama/Democrat "financial refomr" bill, Sarbanes Oxyley was supposed to "REFORM" financial reorting by businesses, so that we would never hav3e the "Enron problem" again.  WRONG.  Our banks and mortgage companies engaged in similar kinds of financial manipulations, and Sarbanes Oxlye DID NOT HELP.  Instead, Democrats and the media were so busy pushing  "stimulus" (even before Obama) that the CANCER eating at the economy was totally ignored by OBAMA and the DEMOCRATS in contorol of domestic policy (including Bernanke and Paulson, whether they were nominally "Democrats" or not:  It is no accident that John Corzine, prominent Democrat governor, and Hank Paulson came out of Goldman Sachs at about the same time).

"But, Skip, the PRESIDETN is 'in charge'.  Presidetn Bush may have allowed Democras to control domestic policy from 2006-2008, if not before, but he was still in charge."  Are you really that much of a HYPOCRITE, like CNN.  Soyou AGREE that President Obama cannot BLAME the GOP HOUSE for his FAILURe to improve the economy?  It is actualy absurd to say that the President is SOLELY responsible for everything.  But--especially in his first two years--Obama was MORE IN CONTROL of policy than Bush ever was.  Bush NEVER had that kind of majority in Congress, and even now the GOP only contorls ONE HOUSE of Congress. Even when the GOP controlled both houses of Congress, in the early years of Bush (when the eocnomy was doing WElL, at full emplyment), Bush NEVER had enough of a majortiy in the Seante to overcome Democratic oppositoin there.  Bush could never even get his PERMANENT taxt cuts trhough, and that was a HUGE PROBLEM for the economy over the Obama years. That ten-year "sunset" of teh Bush tax cuts" set our economy up for DISASTER, and Obama and the Democarats have made sure that DISASTER has occurred.  The YEARLY "fight" and UNCERTAINY over the fate of teh "Bush tax cuts" has done as much to sTOP A RECOVERY as anything else (with the possible exception of looming ObamaCare).  To the extent Presdient Bush "got" what he wanted, it was generaly DEMOCRAT policy.  The ONLY "exceptino" was the Bush tax cuts, on domestic policy, and the continued THREAT of the EXP:IRATIN of the Bush tax cuts has SABOTAGED the ecoomy. 

Q.E.D.  There is a BETTER case for BLAMING Obama and the Democrats in Congress for the 2008 recession, and non-recovery, that the GOP House has INHERITED, than there is for blaming Presdient Bush for an "economic mess" that Obama and the Democrats "inherited".  Obama and the Democrats CREATD the "economic mess" in the first place, or--at the very least--wre part of the RULING GROUP wo created it.

As stated, I am not "absolving" Presdient Bush.  But the RECORD shoes how absurd it is to say that President Obama and the Democrats "inherited" the "ecnomic mess" from President Bush--when it was THEIR policies, at least as much as thouse of Presdient Bush (if not more), which created the "econnomic mess" in tahe first place.

I will go further.  You can "blame" President Bush for foreign policy, if you wish, even though President Oba ma has CONTINUE$D Bush's foreign policy (except Obama has disastrously used much weaker languae and attitude, even as the ACTIONS have been pretty much the same).  As I have said repeatedly, Obama is now in "Bush's thrid term", especially in domestic policy, only worse. The problem is that President Bush was NEVER a "conservative", except wtih regard to taxes. An dBush policy on taes was UNDERMINED from the bginnigng by that ten-year limit (forced upon Bush to get it passed).  The expiratin of the "Bush tax cuts" has hung over the eoncomy for YEARS, beginning in the last years of teh Bush Administratino, and it is not too much to say that Democrrat obstructionism has kept our tax poolciy IRRATIONAL for at least 5 years, as it has been impossible for business peole to now where tax policy is headed for at least that period of time.

Bottom line, however, is that it is Obama and the Democratic Congress, along with Bailout Ben Bernanke  (honorary or real Democrat) and a President Bush unwilling to really fight for consrvative principles, who created the "economic mess" that the GOP Housae has "inherited" (without power to do much about it, although my position is that they have not done nearlly as much as they could have done). So much for the Big Lie that Presdient Obama "inherited" this "ecoomic mess" from Presdietn Bush. Simply not ture.

P.S. NO proofreading or spell checknig (bad eyesight).

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