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  • Morning Bell: The Obama Depression

    The Heritage Foundation does not believe in Keynesian economics. We do not believe that massive government spending has a “multiplier effect” which turns the initial amount of money spent by the government into an even greater increase in national income. Economic studies of projects claiming to have a “multiplier effect” have shown that the claimed additional economic benefit from government spending simply never materializes. But the White House does believe in Keynesian economics. And President Barack Obama’s entire economic plan is grounded in the belief that massive new government spending is the key to economic recovery. So the Washington Post reported Saturday:

    First as a senator and then as president, Obama has presided over the fastest, largest outlay of federal money since World War II. Over the past 12 months, the government has pumped more than $2 trillion into initiatives to ease the nation’s financial and economic crisis, driving the federal deficit to historic proportions.

    But now, all of sudden, President Obama is singing a different tune. In his weekly radio address on Saturday, Obama told the nation: “We can’t generate sustained growth without getting our deficits under control.” His solution? The Washington Post reports:

    President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on businesses and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.

    So while the Federal Reserve is predicting that unemployment from our current recession will remain high through at least 2011, President Obama plans to raise taxes on small businesses, corporations, and all Americans who invest in the stock market. What will this do to our economy in 2011? Uber-Keynesian Paul Krugman offered his explanation of what happened when President Roosevelt enacted the same policies in the middle of the Great Depression:

    Roosevelt got the economy moving somewhat. By 1937 things were a lot better than they were in 1933. Then he was persuaded to balance the budget or try to and he raised taxes and cut spending and the economy went back down again and then it took a enormous public works program known as World War II to bring the economy out of the depression.

    In other words, unless President Obama is planning to fight World War III, Obama’s own Keynesian supporters believe that his tax raising spending cutting budgets will only make our economy worse.

    As we noted at the time, the Congressional Budget Office predicted the Obama Administration’s stimulus plan would only deepen the recession: “in the long run it will lower aggregate output (GDP) by 0.1 percent to 0.3 percent.” Obama’s tax hikes will only make this recession deeper. Economies simply don’t recover while staring down the barrel of a 12-gauge tax hike.

    Quick Hits:

    • According to USA Today, members of Congress with substantial financial ties to the banks and other companies getting a piece of the $700 billion financial rescue package voted two-to-one in favor of creating the program.
    • President Barack Obama’s climate czar said the Environmental Protection Agency will soon issue rules regulating carbon-dioxide emissions.
    • Iran plans to run computer tests on its Bushehr nuclear power plant this week in preparation for starting it up.
    • Embracing a key argument of former President Bush, the Obama administration has told a federal judge that military detainees in Afghanistan have no legal right to challenge their imprisonment there.
    • More than 90 percent of Bay Area mortgage holders cannot qualify for President Obama’s housing rescue package.
    Posted in Ongoing Priorities [slideshow_deploy]

    49 Responses to Morning Bell: The Obama Depression

    1. Ozzy6900, CT says:

      By planning "to raise taxes on small businesses, corporations, and all Americans who invest in the stock market", President Obama will be "cutting the throats" of the very people who make the Economic System work! This is just another way of punishing the successful in order to reward the unsuccessful (aka losers). In the name of "spreading the wealth", President Obama will be distributing the poverty!

    2. Ron, Derry NH says:

      It looks like we have an administration so enamored with themselves that like a arrogant young man who get's his first shot at running Daddy's business; spends like a drunken sailor, bankrupts the business and buys himself expensive friends for a loyal audience. We all know that with no real business expense and no government management skills yet realized, Obamma will experiment at his newly gained authority like a boy taking his Daddy's new sports car out for a midnight spin, only to smash it up.

      Business experience and high stakes management are lessons to be learned whith your own money first. In no way does the title President insure skills needed for the duty of protecting the American people and economy.

      Welcome to Ferris Beulla's day off as the leader of the free world and a pen to sign away the responsibility for paying for his inexperience and self promotion.

      I just hope we can endure the learning curve, suffering the consequences as Beulla grows up.

    3. Kevin says:

      The mismanagement and incompetence of GWB and his Republican supporters has completely torpedoed any hope of convincing the public to embrace a non-interventionist policy.

      Ron Paul and other libertarian leaning Republicans have been marginalized by the big government Republicans who currently rule the party and who have failed completely as stewards of the public purse and the public trust. Given a choice between corrupt big government Republicans and corrupt big government Democrats, the public is going to support the Democrats.

    4. Ken Jarvis - Las Veg says:

      "Over the past 12 months, the government has pumped more than $2 trillion into initiatives to ease the nation's financial and economic crisis, driving the federal deficit to historic proportions."

      ====

      *** THIS is HF Logic

      Obama has been in office for ONLY 33 DAYS

      BUT THE HF BLAMES HIM FOR THE

      "past 12 months"

      THAT hardly seems fair.

    5. Byron Price, Virgini says:

      Obamas package is not about stimulus. It is about a naked power grab and ending capitalism. We are about to become a third world world.

    6. ricci, oklahoma city says:

      Gee, it's almost like the the leader of the pacifist party knows he can depend on another "enormous public works program {known as World War II} to bring the economy out of the depression. Perhaps his antipathy towards our most cherished allies is not as immature as it is nefarious.

    7. Dave, KY says:

      I wonder at point do the working peasants take up the pitch forks ?

    8. rebecca kaminski says:

      The mortification of the obscenely wealthy in these times is the moral/ethical answer.

      It's shameful that this isn't the call by you self-proclaimed righteous who can only tear down. To what? Seriously.

      Heritage…..

    9. Kent, Virginia says:

      Barack Obama stated on his first day in office that his Presidency would be one of 'openess and transparency' then he proceeded to ram a monstrous spending bill through Congress with such haste the legislators had no time to read or discuss the more than eleven hundred pages of federal expansion, rewards for campaign contributors and special interests, and government takeover of state and private powers. Much of what we are now discovering about this massive spending package violates American Principles and Constitutional powers granted to government.

      We do not even know if this man is Constitutionally qualified to hold office–and he has employed a phalanx of lawyers to ensure his college records and complete birth records remain sealed! Why? What is there to hide? Is this the 'transparency' and truth America was promised?

    10. Rob, Arizona says:

      I wonder if Obama will at least get the trains to run on time?

    11. W Howard Baker, Bard says:

      I have come to the conclusion that President Obama (with George Soros) is attempting to put our country in an INFLATIONARY DEPRESSION before the 2010 elections. America has never experienced an INFLATIONARY DEPRESSION. The "great depression" was a deflationary depression which reduction in taxes can alleviate. I am not sure how we would get out of an INFLATIONARY DEPRESSION. I believe that our President does not want us to get out of it as this is the perfect environment for a tyrant to take over. It is interesting that a high priority bill is HR-45, which is a gun control bill that violates the Second Amendment. It is the Second Amendment that insures all the others.

    12. Kent, Virginia says:

      The history of the Liberal Left is replete with examples of the type of excesses they constantly accuse the Right of committing. Nearly one hundred years ago Woodrow Wilson and his band of social engineers established the twentieth century's first fascist dictatorship. More dissidents were jailed under Wilson than under Mussolini in the 20's. Wilson created a propaganda ministry. Wilson considered the Constitution 'antiquated' and individual rights 'nonsense.' He used the Postmaster General to shut down over four hundred publications and an estimated 175,000 Americans were arrested, many served jail terms. Wilson and his minions were called 'Progressives'–they were the political equivalent of today's Liberal Left. Wilson's excuse was a National Crisis- a war. Obama's National Crisis is an economic disaster–brought about by lending speculation encouraged by a liberal dominated Congress and spearheaded by Democrats from the Clinton administration who headed up Freddy Mac and Fannie Mae.

    13. Eugene Hoffman, Hous says:

      We are witnessing the theft of the wealth of our middle class; members of congress involved either by marriage, or large investments in any of the entities that are being "rescued" with our money should have to recuse themselves from voting on these packages. Whose money does congress think it is taking: it is ours; the laborers who built this nation, the soldiers who fought and died for our free way of life (our constitution), the farmers who feed us, industry which takes risk to create and market viable ideas, doctors who heal us. We need term limits; we need to vote the sycophants out of office.

    14. Ken St. Amour, Rhode says:

      God help us all!!!!

    15. Phil Eugene Oregon says:

      Our President seems to be as smart as Jimmy Carter. A good heart to take what is mine and give it to someone to lose.

    16. Frank, New Mexico says:

      Margaret Thatcher: "The only thing wrong with socialism is that sooner or later you run out of other people's money." Only 203 1/2 weeks to go and we get to try that election thing again.

    17. Aida, Kissimme,Fl. says:

      It seems that some people can see what is happening to our country We are heading to be a 3rd. world country, where NO one has freedom of speech and the the government is the big Nanny who has empoverish every single citizens with dictatorship. I congratulate all those that made it possible in destroying our country but, will they accept it,I don't think so, since all of them had being blinded and deaf and the that know it all. God in Divine Word said that His people perish because the lack of knowledge, they has rejected knowledge, so He will reject them. The truth is all pay the price as well for their selfishness.

    18. janet megeed brookly says:

      to the party who compared obama with ferris bueller,that is a gross insult to ferris ,he is innovative,fair-minded,brilliant and fun-loving.my only wish is that obama was a fictional character like ferris.

    19. Jay Sadler says:

      No, the Kenyan does NOT believe in Keynesian economics, he believes in: Borrowing, Spending, then Printing Dollars to destroy the borrower's investment in the Debt. And President Barack Obama’s entire economic plan is grounded (wrongly) in the belief that massive new government spending is the key to getting re-Elected. So the Washington Post is wrong (again). Don't listen to what he says, watch what he's doing.

    20. Ken in Santa Barbara says:

      Conn,

      It's your link and your inaccurate quote of the Washington Post. I corrected the author/YOU! The correction is in my comment. I suggest you quote accurately or expect more of the same from anyone an everyone. If you have a problem with that I may not be able to help you. I want fact not crap borrowed from the Washington Post and poorly borrowed at that.

      Simply stated ……Deal with the issues and when you are wrong admit it.

      You have been wrong twice now towards and about me. Get over me and stick with trying to do the right thing. I assume that is reporting fact. If it is not your intent, please let me know.

    21. TC South Carolina says:

      Obama continues to hear, and ignore, the cries from the people who work and pay the taxes, take the risks and hire the employees. He knows that he can say one thing and do another and by the time he's found out, simply apologize and the American people will forgive him.If he where truly concerned about America and its future, he'd put real ecomonice stimuli in place that would jump start our stagnant economy. It's not brain surgery, its taught every day in Econ 101. I can't believe he's really that stupid, rather, I believe he's as smart as they say he is and is doing exactly what has been planned from the beginning, he's taking over without "firing a shot".

    22. George,Pennsylvania says:

      My concern is does President Obama really care at all. Or is it really his plan to help destroy us as a nation? Or is he much like the Pharoah in Egypt in Moses's day who didnt want the children of Israel,Gods people to stay in the land and wanted to get rid of their children and make them slaves to build his treasure cities with.But God raised them up a deliver to bring them out of Egypt,in the man Moses.But Pharoah hardened his heart and would not let them go even with ten plagues on the land but finally conceeded and let them leave and went to bring them back but was stopped by God at the waters of the Red Sea. If we only as a nation would again seek unto the God of the Bible,the true and living God,he would deliver us.He helped us get started when a British colony and he could do it again if we do right.As George Washington called for we need a national day of repentance not for a show but in reality. Repentance toward God and faith toward our Lord Jesus Christ.(Act20:21). He died for our sins on the cross and rose from the dead and went back up to Heaven.Now turn to him in repentance for your sins and ask him God be merciful to me a sinner and save me for Jesus sake and he will give you his gift of eternal life.Look and live!

    23. michael hutchings says:

      LOCATION, BARACK OBAMAS FARM;

      BARACK OBAMA HAD A FARM;E.I.E.I.O;

      ON THIS FARM HE HAD SOME PIGS;E.I.E.I.O;

      WITH AN OINK OINK HERE AND AN OINK OINK THERE;

      HERE AN OINK THERE AN OINK;

      EVERYWHERE AN OINK OINK;

      BARACK OBAMA HAD A FARM;E.I.E.O.;

      ON HIS FARM HE HAD SOME DUCKS;E.I.E.I.O;

      WITH A QUACK QUACK;–OH CRAP–CRAP;

      THE PIGS ATE HIS DUCKS;

      ON THIS FARM HE'S RAISED A BUNCH OF FAT PIGS;

    24. Cmiller Colorado says:

      ** In order for the economy to stabilize past, and present included the government needs to take the hit, not the american people or its businesses in any size. Or the best option is to get out our way, and continue to do what they were designed to do. Protect our country, its people, and defend its union. Make sure that the constitution stands and our rights are not trampled. the end.

    25. D.Neils-Milwaukee says:

      To anyone who believes that the government can fix this problem, you are a product of the idiotic public school system who created the people who voted these morons into office.The government creates a problem so that weak-minded people will look to them to fix the problem.In this way, the government galvanizes it's power base.The people in this country were originally fiercely independent thinking people.The social welfare system has created a dependency class of people, that is a worse form of subjugation than the slavery that was abolished in this country.As long as people look to government to solve their problems,we are doomed.People who have worked to make themselves successful don't need the government.This independence is a threat to their power base,and they won't let that go easily.

    26. Sliver Wisconsin says:

      I believe he/Obama and his cohorts know exactly what they are doing its the people that voted for them that are stupid. I think these people know they will not be rich but will be happy when the working class/wealthy will finally be down to their level.
      We are finally in the last lap for fascism to win the race.
      What about the pole that puts Obama ahead of Jesus Christ in popularity, that’s the scary part.

    27. Danny Fla says:

      Dear Morning Bell: It never was the American Worker who failed to do the job that was given. Companies cannot opperate without m aking a profit. It has in the later part of the century that credi was made more availiable that That more manipulations with currency caused problems to surface.For many years the alure of distant shores have attracted the work place to relocate leaving more,and more less work places. It is only now that not only America has economic problems, but Global one’s as well- So it is being taken away from our real values, and that is bringing control over the masses, and the removal of Freedom-Where have we heard that before?

    28. Dale, Sacramento says:

      How do you spend your way out of debt?

    29. Bill, Missouri says:

      I follow both the Heritage and the Huffington Post to get a view point from both sides. I am beginning to believe that the majority of the elected officials in Washington have their own self interest at heart, and not the country.

    30. Curt Kampmeier, Colu says:

      I wholeheartedly agree.

      I am one citizen. What can I do to change things?

    31. John Rosina, Bordent says:

      Conn Caroll & Ken:

      I think Ken is highlighting the fact that, as written by the Post and correctly regurgitated in your piece, the Post is inferring that (sic) "during the past 12 months Senator/President Obama has PRESIDED over the fastest and largest outlay of Federal money since WWII". This smacks of laying the entire economic problem and resultant cash infusion at his (Obama's) feet. When I went to school, that was known as slanted or yellow journalism and colors the Post and its author as a "biased rag".

      But – Ken and, admittingly, I, wrongfully assumed you were smart enough to catch the drift on this! Perhaps some of us wrongfully hold you to a higher standard than that of the Post! Just because somebody else said it does not make it any less a cheap shot!

    32. John Rosina, Bordentown, NJ says:

      Paul Steinhauser of CNN delivers Poll today which suggest your take on things being out of line with what people out here on main street are thinking. Thought you’d find this informative – but I do not expect you’ll post this!

      CNN Monday, February 23, 2009
      Poll: Politicians trusted more than business leaders on economy
      * Story Highlights
      * 30 percent express confidence Wall Street will make right decisions to end recession
      * 75 percent say President Obama will make the right moves regarding recession
      * Poll: Obama has more Republicans trusting him than Wall Street has
      * Majority opposes providing rest of bailout money to banks
      By Paul Steinhauser CNN Deputy Political Director

    33. Dorothy Morgan, Okla says:

      Thanks for allowing me to comment on some of the most important events in recent history….even though many times we disagreed.

      I have appreciated you, Heritage Foundation, for allowing both sides of an important question.

    34. Rob, Arizona says:

      CMiller of Colorado and D.Neils of Milwaukee are quite right in my view. The constitution was constructed and ratified in order to control the power of government, protect individual rights of the “then” individualistic people, and to protect free market capitalism which is the engine of this free republic. Some of us are still independant and believe that the government of today has far exceeded its constitutional restraints. Just read the document, its written in what used to be our common language, and you can see that what I say is true.

      The “self enumerating/living document” crowd takes license to read anything into the constitution these days, its too much trouble to amend the document as changing it was intended, when you can get all the legislation and change you want through the courts.

      The public school system (“outcome based education” as I call it) is owned and operated by the NEA which in my opinion is nothing but an arm of the socialist DNC. Public schools and the NEA are responsible for the low scores and high self-esteem of American children for several generations now; competition, pride in achievement and excellence separates good students with a future from bad ones with none, and we simply can’t have that in todays union/ socialist controled system of education. Of course the answer to the problem is to keep throwing money at it (that has always worked in the past hasn’t it?), the socialists would never condsider the notion of excellence through competition by permiting tax breaks for people wishing to send their kids to private schools. Clearly the idea is to dumb down rather than to smarten up.

      As for the government solving problems, look at all of our government successes; the post office, medicare, medicade, social security, the income tax code, the destruction of the family in the black community, the erosion of our culture, the creation of the “welfare/entitlement” mentality, protecting the border and enforcing immigration laws, the victory in the wars on poverty and drugs, etc.

      With all of these sterling successes, isn’t it just logical to believe that the same government can fix the economy? Sure……and pigs can fly!

    35. Larry in Texas says:

      Dang…Rob in Arizona just saved me a lot of thumb based typin' and keyboard cruelty! Good post there Rob and ditto on the "sterling success" observation! You appear to be cut from a similar thread.

    36. Mike Sheahen, Hickor says:

      In other words, Obama is showing and proving: "How am I a Socialist? Let me show and prove the ways!"

      We hear and see what you're doing, Obama, even while your Socialist government elitist "Progressive" accomplices in academia, the media, and elsewhere, continue making far too many of us deaf, dumb, and blind to it all.

    37. Marty - Fairfield says:

      I would like to remind everyone that the mess that President Obama is cleaning up is a mess left by our former President Bush and his FAILED policies. I would like to also remind everyone that these policies and Bush's lack of leadership with absolutely NO plan for the future have led us to these drastic steps.In addition, I believe another Democratic president inherited a former Republican's mess(Hoover) which would be FDR and we all know what he did for our country.Put the blame where it belongs with failed Republican trickle down economic policies.Those policies simply DO NOT WORK! Regardless what anyone says, they do not work,period.Obama has a plan and if you read it thoroughly it will work and put America back on its feet again.It is clear when we voted that the people want a new direction and want a change for the positive.This is the chance for America to take back their position as a world leader.Those not willing to climb on board will be left alone as President Obama's plan gains momentum and brings us back into the world leadership role in this new century.Don't get left behind living in the dead ideas of a failed past 8 years.

    38. Mike, Hickory, NC says:

      You'll notice through this and other things how there's really no longer any intelligent, factual question about whether or not Obama and his Comrades are Socialists, only to how many different degrees they are Socialists.

    39. Mary Kellogg, Virgin says:

      Great posts Kent Virginia, TC South Carolina, and Rob Arizona. There sure looks to be something more sinister and subversive underlying this path to socialism that we are on. Have you checked out GOPUSA forum? They also have some excellent insight into things that are happening now. I'll read your posts there if you come, look and like what you find to share with others. Thanks for your time. I'll read again soon.

    40. Ken, Santa Barbara says:

      Conn, I misunderstood the Ken you were addressing and your reference to the quote from Washington Post.I thought you were referring to my earlier post to the Rasmussen Report which was improperly quoted.

      Please accept my apology for the "crap" reference about your Washington Post quote. I hadn't read that yet. I defer to a comment later by John R.

      I might hope to see you go further into addressing which Ken for clarification just as I will try to clarify/identify which Conn I refer to.

      Thanks to John R (Bordertown)for his eloquence and input to this comment section and his addition towards fairness intended to keep the dialogue proactive rounded and……..easy . I welcome comments and input such as his anytime.

      Any quotes from Fareed Zakaria, or Frontline, and their reporting last week? Fareed had a unique and very interesting poll wouldn't you think?.

      United we Stand……..

    41. Mike, Hickory, North says:

      As for the claims, by Comrade Obama and his Comrades in academia, the media, and elsewhere, that "the mess we face was left by our former President Bush":

      #1. The "dirty little secret" is that the G.W. Bush, and the rest of the Bush clan, are Liberals, not "Conservatives", (with but one even remotely "Conservative" value being such as G.W's proven successful policies which protected us from more 9/11-type Terrorist attacks) as also repeatedly shown and proven by G.H.W. Bush when he called Ronald Reagan "a Right-wing fringe cooke pushing voo-doo economics"; then, as President, openly and not so openly proceeded to undo what Ronald Reagan had done (which had proven, yet again, to be both correct and true to our founding purposes, principles and documents), and how G.H.W. Bush himself delcared that what he regreted about his "no new taxes" pledge was (quote) "not breaking it but making it in the first place".

      2. The falsehood and speciousness of claims by Obama (and his Comrades in Congress and elsewhere) referring to the current mess as being something he/his administration "inherited" is exposed by the following facts, just for starters:

      (A) Obama, Reid, Pelosi, and their Comrades continue blaming "the Republicans" and "Bush", and referring to the current mess as "inherited" from them, yet they have been in control of Congress for more than two (2) years now, and thus quite able to prevent things, including the current mess, and

      (B) The fact is that the Comrades in majority control of Congress (including then Sen. Obama) are the ones who perpetuated Federal policies and practices which, in effect, forced lending institutions to make high risk mortgage loans (without such as requiring proof of ability to pay) to people unlikely to be able to pay, on pain of any and all possible Federal harassement and prosecution for "unfair lending practices", and now, although the smallest percentage of mortgages are in foreclosure or any danger of it, those same Leftist government elitist politicians and their accomplices have gotten away with calling it "a major financial crisis/Wall Street melt-down" and blaming "the Republicans" and "Wall Street" for it.

      Check the facts, including the voting records of Obama, Reid, Pelosi and their Comrades, and you'll find it all true and thus exposing the lie of any statements to the contrary by Obama, his Comrades, and their accomplices in academia, the media, and elsewhere, all seeking to pose as if they "inherited" the mess we now face.

    42. Larry in Texas says:

      Yep that's right Marty keep tryin' to trump that spade. You, as so many of your Liberal cronies are VERY quick to speak out in opposition to any viable program that involves WORKING, or any regard to the actual events that occurred in the Bush Presidency. Lets take a quick look back to when a certain President(we'll call him William)had a known terrorist leader dead to rights and let him walk. A mistake that would later allow him to make a call that destroyed lives,property and prosperity on Wall Street through attacks On September 11th 2001.It took quite a leader with some broad shoulders to take on the healing and recovery process of such a never before seen horror inside our shorelines. It's true the attacks happened on Bush's watch and He knew all to well what the American public was screamin' for- "JUSTICE"! Let the war in Afganistan begin, as well as in all surrounding areas where Bin Laden was reported to be using as training bases! This was an expensive search and destroy mission with no forseeable cost reduction. Still the people scream "Off with his HEAD!" So as war does, it escalates, and all with the complete and total backing of every member in the House and Senate(including your beloved and innocent Democrats)!So the bills keep piling up and all along things that should have been gettin' attention on the home front just didn't seem to conjure up the relative fight they now seem to have deserved-you know the Clinton Pet projects called Fannie Mae and Freddie Mac? The search for Bin Laden continues to this day and gets no cheaper as we go.Fast forward: Gulf of Mexico 2005-remember Katrina? All the good Democrats of Louisiana screamed bloody murder of how WE ALL FORGOT them and why aint WE payin' them $70 thousand per lean pole shanty shack because they can't replace them for less than that.Jumpin' through ourselves to give them food and shelter and DEBIT CARDS that they expected us to keep payin' for. All in the name of "Let's help a neighbor out"! Seems like there was another Hurricane the same year not too long after that and WE ALL GOT TO PAY FOR THAT ONE TOO! Yep.. Rita got all up the Mississippi delta and tore it up from the floor up!!It seems those folks had a little bit more of a "let's kick our boots off and stomp this mud dry" so we can get back home work ethic!A lot less drama from the folks of Mississippi but since "We the People,in order to form a bypartisan insurance Co-op" got raked over the Democrats' coal bed, because the area hit was primarily Democrat held territory,and so we all paid again.I see a recurring theme here.Do you? I remember so much air time and media coverage feeding a race fire started because the majority of the residents were of "NONWHITE" ethnic culture. So much of Bush's time, energy and prayer was dedicated to covering the expenses that people (Democrats) expected us to cover,(or else be referred to as "Racist" Republicans) that there was precious little time that could be dedicated to any long term future plans. That's not to say that the Administration wasn't workin' on plans, they just had to once again figure out a politically correct language to bring an explanation before the public as to why the mortgage crisis was about to hit like Katrina! Long story summed up right here. The Bush administration had so much crap piled on them one catastrophy after the other it's a wonder we made it out of 2006. Then you have the elections of that year that brought all the hate mongers out of the Democratic National Committee swearin' justice for NEW ORLEANS, Justice for the family members who lost a loved one in the Tower attacks and justice for all who have lost a solder in the wars on Terrorism. Start the bleeding!! First, in an unprecedented move we the people(after Democrats gain the majority in both Houses) actually start paying "loss of life endowments" to those people who lost loved ones in the Tower attacks!!WHAT?!! MY mother lost 2 uncles in Pearl harbor, where's that money at? Then starts Barney "happy feet" Franks deceiptful covering up and damage control rants concerning Fannie and Freddy on Capitol Hill. Like we all slept through the Clinton's Fair Housing "HOLY Crusades", and the subject was brought up more than once about the numbers not jiving and illegal pay offs.As usual, folks with names like Maxine and Nancy are just livid,and that ANY mention of wrong doing was preposterous!Let's also add to all the previously mentioned emergencies faced and dealt with during the Bush tenure,that were also so very time, and money critical, that WE payed for. Anyone else remember the Sunamis, earthquakes, North Korean nuclear arsenal testing, so on so on! As usual the Democrats have a VERY SELECTIVE memory when all their finger pointing is redirected to the attention of real problems that faced our nation as a whole. Problems WAY BIGGER than partisan biggotry propegated on the Bush administration for having the audacity to say something about the corruption of the Clinton cover ups and rug sweeps of the mortgage criminals in Fannie Mae and Freddie Mac! Please Marty, go back and do some quick math on the costs involved with all that the Bush administration was faced with and DEALT with then post up again about a half term Senator from a throw more money at it state is qualified to cry about inheritance! PLEASE, don't tread on me!

    43. Rob, Arizona says:

      Marty ol'guy,

      Look at your history….the first thing socialists do when they take power is kill the golden goose. Socialists (Communists, Nazis; they are all socialists) can't resist and as with all parasites, they eventually weaken and kill the host.

      There is nothing progressive about socialism Marty, you only have to go back a little way and look at the history of the 20th century; you'll discover that there was more genocide, murder, imposed human misery/degredation, exploitation and human rights violations under socalist regimes than under any representative government. This is an indisputable fact guy……

    44. Rob, Arizona says:

      Marty,

      Slight correction in my last sentence; I meant to say instead of just "representative government", "representative government powered by free market capitalism"…….

    45. joe missouri says:

      With all the natuaral disasters that happened in the Bush admininstration, along with 9/11, 2 wars, collapse of companies from corrupt CEO's where people lost millions, he still kept the economy going for 8 years. I think that is utterly amazing. I think he did a good job.

    46. April McNamara, Colo says:

      Marty. I agree with you 100%

    47. Larry in Texas says:

      Congratulations April, you've now been identified as well. You can put the 666 on either the forehead or the back of your hand!!

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