The economy was just fine before you people elected a Democrat Congress. The Democrat party has controlled government's taxing and spending policy since January 2007. In that time, Harry Reid, and Nancy Pelosi, now joined by Barack Obama, have presided over the greatest market and economic crash since the Great Depression.
Everything They Do Makes Things Worse
The US and world economies have been in rapid decline since Pelosi picked up the Speaker's gavel. As the Democrats amassed more power through legislation, regulation, and the 2008 election, they have driven the economy further south.
To be fair, the first of the Democrat-driven spending legislation hit the economy in about July 2007--right at the peak of the market. From the time Democrat actions began influencing the economy, the DJIA fell off a cliff. It has lost 50 percent of its value, not from its peak, but from the day Nancy Pelosi became Speaker and Harry Reid became Senate Majority Leader.
This Depression is Brought to You by the DNC
While President Bush had his shortcomings in spending and in public relations,he presided over an economy that grew slowly and steadily. Remember that Bush, too, inherited a recession that was exacerbated by the September 11, 2001, attacks.
Even before taking control of Congress, Democrats Barney Frank, Christopher Dodd, Maxine Waters, and Lacy Clay were primary accessories to the illegal activities of Fannie Mae executives Franklin Raines and Jim Johnson. (Barack Obama, by the way, took more money from Fannie Mae and Freddie Mac than any member of Congress when measured by dollars per year in Congress.)
This Economy Will Not Rebound Soon
Barack Obama's budget is pure fraud. It assumes that this depression will end in June 2009, with historically high growth in 2010, 2011, and 2012. No one in his administration is willing defend these lies.
The administration predicted that the overall economy, as measured by the gross domestic product, will shrink by 1.2 percent this year but will grow by a solid 3.2 percent in 2010. That growth would be followed by even stronger increases of 4 percent in 2011, 4.6 percent in 2012 and 4.2 percent in 2013. [source]
That -1.2 percent growth Obama predicted for this year? I'll predice -5.5 percent. See who's closer on December 31. For 2010, Obama says +3.2. Hennessy says -0.5. For 2011, Obama says 4 percent; Hennessy says 2 percent. No one can reliably predict 2012, and certainly a lawyer and community organizer who wouldn't know a balance sheet from cash flow.
Repeal the Pork--Cut Taxes
What can you do? Join the Tax Day Tea Party. Tell the Democrat Congress to repeal the pork and cut taxes. Continue working with the Tea Party folks to create a conservative majority Congress in 2010.
Want me to be wrong about my dire predictions? Here's the path to a fast economy recovery in 2010:
- Eliminate the capital gains tax
- Place a 3-year moratorium on corporate income taxes
- Lock in the Bush tax cuts permanently
- Take Cap and Trade off the table
- Manage a structured bankruptcy for GM and Chrysler
- Repeal the Stimulus package
- Shred Obama's Business 101-inspired budget and run the government on continuing resolutions until grown-ups take over Congress in 2011
- Help your neighbors and friends who are out of work because we were stupid enough to elect a liberal Congress
If, by some miracle, the government followed my recommendations (which are not all mine, but Newt Gingrich's and others), Barack's predictions will be closer than mine. If they don't repeal the pork and cut taxes, if they do pass anything like Obama's budget, learn to enjoy soup and Spam.