In November 2006, Democrats were swept into office and took the reigns of Congress on January 3rd 2007. On that day, Barney Frank and Chris Dodd took over the powerful banking and Finance Committees, Harry Reid became House Majority Leader, and Nancy Pelosi became the Speaker of the House. A war-weary nation was growing more anti-Bush by the day. The power of the Democrat party was in place and on the rise.
On that same day, January 3rd, 2007, the DOW closed at $12,621.77. The GDP for the previous quarter was 3.5%. The Unemployment Rate was 4.6%. The number of jobs had been increasing for months. National Debt was about $8.0 Trillion.
On that day, fear set in.
Congress holds the purse strings of the Federal Government, and no spending bill gets to the President without first passing the House and the Senate. So, ALL, let me repeat, ALL spending since January 3rd 2007 has been proposed and enacted by the Democrat led Congress under Pelosi and Reid (which included Barack Obama and Joe Biden).
Businesses set their agenda based on 5 year plans, and with a new Democrat Congress, a likely Democrat President, and a big tax and spend agenda on the horizon, companies began to change their plans based on their new milieu under a Progressive and Liberal Government. The Bush Tax Cuts were expected to end; Tax Increases were likely; more regulation; more government; more control; less freedom. Simply put, businesses began to plan for lower sales, fewer employees, and higher taxes.
On September 1, 2010 after 3 1/2 short years of Democrat control, the DOW is right at $10,000.00, the GDP for the previous quarter was 1.6%, and the Unemployment Rate is 9.6%. National Debt is about $13.5 Trillion.
When, you think about for whom to vote on November 2, 2010, a simple comparison of our country’s measures, then and now, should point you in the right direction. Do you want more Democrat tax, spend, and strangle of America’s economy, or do you want to go to a pro-growth economy based on limited government, limited spending, and free markets.
The Democrats will continue the BIOB Strategy (Blame It On Bush). But, you know better with a few simple facts.
Be sure to thank Rick Santelli and the Tea Party for grabbing hold of the Republican Party and yanking it back to fiscal conservatism and Constitutional reverence… …although I’m not convinced that the Republicans fully ‘get it’.