Are You Better Off Now Than You Were Five Years Ago?

Five years ago, the Republicans controlled the House, Senate, and Presidency.

Unemployment was at 4.4%

The national debt was under $8.7 Trillion.

Then, in January 2007, the Democrats took control…

Democrats have held majority control (2+ out of 3) of the House, Senate, and Presidency since January 2007.   In just three weeks, we will mark the 5 year anniversary of the shift in the balance of power from Republican to Democrat.

Under majority-Democratic rule, unemployment has more than doubled, and the national debt has increased to over $15.1 Trillion (an increase of over $6.4 Trillion in just those 5 years).  That represents an average annual deficit of almost $1.3 Trillion per year for five straight years. When Democrats took majority control in January 2007, they took an already bad national debt (of under $8.7 Trillion) and proceeded to increase it by over 70%. How? By unprecedented amounts of deficit spending.

For comparison purposes, compare two different 4-year periods, a decade apart. In each period, one party controlled both houses of Congress.

Republican Congress 1997-2000: about $100 Billion new debt per year.

Democrat Congress 2007-2010: about $1,300 Billion new debt per year.

——————————

I repeat:

Democrats have held majority control (2+ out of 3) of the House, Senate, and Presidency since January 2007.  This has been a Democrat-led economy for nearly 5 years.

Are you better off now than you were 5 years ago? 

About these ads
This entry was posted in Uncategorized. Bookmark the permalink.

14 Responses to Are You Better Off Now Than You Were Five Years Ago?

  1. On December 10th, 2011 at 4:35 pm, Green eyed Lady said:

    The Captain changes his mind lies a lot. :roll:

    You know how little Barry and friends always like to say they inherited this mess and it’s all Bush’s fault??

    REMEMBER JANUARY 3, 2007

    The day the Democrats took over was not January 22nd 2009, it was actually January 3rd 2007, the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress.

    The Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.

    For those who are listening to the liberals propagating the fallacy that everything is “Bush’s Fault”, think about this: January 3rd, 2007, the day the Democrats took over the Senate and the Congress:

    The DOW Jones closed at 12,621.77 The GDP for the previous quarter was 3.5% The Unemployment rate was 4.6% George Bush’s Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!

    Remember that day… January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.

    The economic meltdown that happened 15 months later was in what part of the economy?

    BANKING AND FINANCIAL SERVICES!

    THANK YOU DEMOCRATS (especially Barney ) for taking us from 13,000 DOW, 3.5 GDP and 4.6% Unemployment…to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!

    (BTW: Bush asked Congress 17 TIMES to stop Fannie & Freddie -starting in 2001 because it was financially risky for the US economy). Barney blocked it and called it a “Chicken Little Philosophy” (and the sky did fall!)

    And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? OBAMA.

    And who fought against reform of Fannie and Freddie? OBAMA and the Democrat Congress, especially BARNEY!!

    So when someone tries to blame Bush… REMEMBER JAN UARY 3rd, 2007…. THE DAY THE DEMOCRATS TOOK OVER!”

    Bush may have been in the car but the Democrats were in charge of the gas pedal and steering wheel, they were driving the economy into the ditch.

    Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democratic Party. Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011.

    In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.

    For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budget.

    And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009. Let’s remember what the deficits looked like during that period:

    If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.

    If Obama inherited anything, he inherited it from himself.

    And then he voted to expand that deficit four-fold since January 20th.

  2. As to the Financial Crisis in 2008, where does the blame belong?

    Who tried to reform Fannie/Freddie, and who insisted that nothing was wrong at Fannie/Freddie?

  3. While I think it is important to look at the last 5 years, not just the last 3, the following is still informative…

    The Obama Presidency – By The Numbers

  4. Pingback: Robert Walters UK Financial Services Jobs Q1 2011 Otcbb Equity Line | OTC Financial Group

  5. Aaron says:

    Personally, I am actually far better off than 5 years ago. However, none of that has anything to do with the political winds of DC, or politicians at any level for that matter. All the causes of my vastly improved financial situation can be directly traced back to risks I took and decisions I made over the last 4 years.

  6. Congratulations, Aaron, well done!

    Business has actually been going well for me, too, but for most people things are not better now than they were 5 years ago.

  7. …the typical American household will have spent $4,155 filling up this year, a record. That is 8.4 percent of what the median family takes in, the highest share since 1981.

    Gas averaged more than $3.50 a gallon this year, another unfortunate record. And next year isn’t likely to bring relief.

  8. More on Fannie/Freddie:

  9. ————————————————————————————————

    Pelosi plays dumb

    ————————————————————————————————

  10. Aaron says:

    And a congratulations to you as well.

    It seems that tough economic times always raise a new crop of economic winners while damaging (though not necessarily eliminating) “old money”. However, this one seems to not be producing any new winners and mostly damaging the regular joes like us.

    What seems to be happening is that the government is bent on protecting the “old money” (GM, Chrysler, AIG, etc…) while desperately trying to pick the new winners (Fisker, Solyndra, etc…)–and failing–in effort to shape the US economy according to their desires. What’s worse is that it is all being paid for by regular joes.

  11. Aaron,
    I think that the Democratic Socialists are trying to put the majority of small businesses out of business (with excessive regulations) and are trying to take over the big businesses (GM, Chrysler, etc.) They want the only businesses left operating to answer directly to them.

  12. Aaron says:

    I believe you may have a point.

  13. Daily Presidential Tracking Poll

    Saturday, December 31, 2011

    As 2011 comes to an end, 27% of Americans say it was a good year. Looking ahead, 39% expect 2012 to be a good year. Both figures are up slightly from a year ago. However, consistent with expectations in recent years, 49% expect the country to still be in a recession at the end of 2012. While economists say the most recent recession has ended, nightly polling shows that most Americans believe that the country has been in a recession constantly since late 2007. Consumer confidence ended 2011 a bit higher than it’s been in recent months, but is essentially unchanged from the beginning of the year.

    Forty-seven percent (47%) of voters believe that a Republican is likely to win the White House next year. Thirty-nine percent (39%) disagree and believe the president will be re-elected. By a 2-to-1 margin, voters expect the Republicans to retain control of the House while a plurality expects the GOP to win the Senate.

    “most Americans believe that the country has been in a recession constantly since late 2007″

    Are you better off now than you were five years ago?
    Most Americans say, “No.”

    Most Americans would love to go back to the economic conditions of five years ago, when unemployment was 4.4% and the national debt was under $8.7 Trillion.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s