Yes, I want to go BACK, not FORWARD

Yes, I want to go BACK, not FORWARD

{Click on graph to enlarge}

Yes, I want to go BACK, not FORWARD.

I want to go BACK to how things were SIX YEARS AGO.

Six years ago today was 10/25/2006.

What was the economy like then?

1) Fiscal Year 2007 had just begun (on 10/1/2006), and the FY 2007 budget (yes, that was back in the days when the Senate actually passed a budget) produced a deficit of less than $161 Billion. That FY 2007 budget deficit, by the way, was smaller than either of the budget deficits produced by Bill Clinton with a Democrat-controlled Congress. It’s true. Bill Clinton and the Democratic Congress passed the FY 1994 and FY 1995 budgets, which produced deficits of $203 Billion and $164 Billion. It wasn’t until Republicans controlled the House and Senate that we had budget surpluses (according to the White House Office of Management and Budget) .

2) Total National Debt under $8.6 Trillion. ($8,550,350,640,673.05 to be exact.)

3) Unemployment 4.4%

4) “Discouraged Workers” (not counted in the unemployment number): 331,000.

5) Employment-population ratio (% employment for civilian noninstitutional population age 16 years and over): 63.3%

6) Zillow U.S. Home Value Index: over $190,000.

Now, every single one of those six measures is significantly worse.

Democrats inherited a good economy and relatively low deficit when they took majority control of Washington, D.C. on January 3, 2007.

Democrats drove the economy into the ditch.

What did Democrats do? For one thing, they passed a bill on May 24, 2007 that raised the minimum wage three times (on July 24th of 2007, 2008, and 2009), and they tied that bill to the supplemental aid for the Iraq War, so that President Bush would be unlikely to veto it. Each of those minimum wage hikes hurt employment. Young workers are the worst hit, as many small businesses can no longer afford to hire young people if the business owner is forced to pay the young person more per hour than they generate for the business.

Democrats also deserve the majority of blame for the Fannie/Freddie crisis.

Democrats passed the Community Reinvestment Act under Carter. Democrats expanded the Community Reinvestment Act under Clinton. Democrats, including attorney Barack Obama, used lawsuits (Obama represented ACORN) to force banks to make home loans to people who the banks thought were risky investments. Obama was one of the biggest beneficiaries of campaign contributions from Fannie Mae and Freddie Mac… Obama came in the top 3, exceeded only by Chris Dodd and John Kerry, of Top Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008. And if you consider that Obama was only campaigning for Federal office 2004-2008, Obama’s per year receipts of Fannie Mae and Freddie Mac Campaign Contributions easily tops the list.

Republicans tried to reform Fannie/Freddie, while Democrats hired all of the lobbyists, protected their special interests, resisted any attempts at correcting the corruption at Fannie/Freddie, and falsely accused Republicans of “political lynching”.

Watch Maxine Waters and other Democrats accuse Republicans of racism as the Republicans tried to increase regulation of Fannie Mae & Freddie Mac, and Democrats covered up the corruption.

Yes, false charges of racism are all part of “the best defense is a strong offense”.

Many Americans have had enough of:
1) People voting for/against a candidate based of the color of the candidate’s skin, and thinking that’s not racism.
and
2) Being falsely accused of racism when voting for/against a candidate based on the content of the candidate’s character.

Yes, I want to go BACK, not FORWARD.

I want to go back to 63.3% employment (the average of what it was for 144 consecutive months under Republican majorities, Jan 1995 – Dec 2006) rather than forward with 58.7% employment (which it has been at or under that number for over three straight years, with no recovery at all).

President Bush and the Republican Congress actually ended those 144 consecutive months slightly ABOVE AVERAGE at 63.4% employment.

How many more people would be employed right now if we were back at the same 63.4% Employment-population ratio that we enjoyed in Dec 2006 under Bush and the Republican majority?

(difference in rate) * (size of current noninstitutional civilian population age 16+) =

(63.4% – 58.7%) * (243,772,000)=

(4.7%) * (243,772,000) = 11,457,284 people

Well over 11 million more people (closer to 11.5 million more people) would be employed RIGHT NOW if we had the same level of Employment-population ratio now as we had under Bush and the Republican Congress in December 2006, less than six short years ago.

And that is why you can believe Mitt Romney when he says he has a 5-step plan to create 12 million new jobs. He’s basically saying that he can undo the damage that has been done by the Democrats and return us to where we were for 12 straight years under Republican majority control.

Yes, I want to go BACK, not FORWARD.

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2 Responses to Yes, I want to go BACK, not FORWARD

  1. Yes I want to go BACK to budget surpluses that we enjoyed with a Republican majority control in Washinton, D.C. before the Dot Com bust and 9/11 attacks.

    And if we have to run a deficit, yes, I want to go BACK to deficits the size of that from FY 2007, the last budget passed by a Republican House, Republican Senate, and Republican President.

    Compare the FY 2007 deficit (from the last budget produced from a Republican House, Republican Senate, and Republican President) to the FY 2009 deficit produced from a Democrat House, Democrat Senate, and Democrat President just 2 years later:

    Deficits

    When Democrats took majority control in 2007, they tripled the size of the deficit (FY 2008), the next year they tripled it AGAIN (FY 2009), and they have run deficits over $1 TRILLION each and every year for the last 4 years!

    All of this after they made promises of “fiscal discipline” in order to fool voters into thinking that Democrats would be more fiscally responsible than Republicans!

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