Tag Archives: National Debt

Democrat-controlled Congress added 5.34 trillion to national debt

The last Republican budget was in 2006
The last Republican budget was in 2006

Here’s the story from CNS News, which the OFFICIAL NUMBERS from the Treasury Department.

Excerpt:

In the 1,461 days that Rep. Nancy Pelosi (D.-Calif.) served as speaker of the House, the national debt increased by a total of $5.343 trillion ($5,343,452,800,321.37) or $3.66 billion per day ($3.657,394,113.84), according to official debt numbers published by the U.S. Treasury.

Pelosi was the 52nd speaker of the House. During her tenure, she amassed more debt than the first 49 speakers combined.

[…]When Pelosi was sworn in on Jan. 4, 2007, the national debt stood at $8,670,596,242,973.04. At the close of business on Jan. 4, 2011, her last full day in the speakership, it stood at 14,014,049,043,294.41–an increase of $5,343,452,800,321.37.

[…]When Pelosi became speaker in  January 2007 she was emphatic that there would be no new deficit spending.

“After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending,” she said in her inaugural address from the speaker’s podium. “Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt.”

And a quick refresher about who controlled the House and the Senate at different times:

Year Congress President Senate (100) House (435)
2009 111th D D – 55*** D – 256
2007 110th R D – 51** D – 233
2005 109th R R – 55 R – 232
2003 108th R R – 51 R – 229
2001 107th R D* R – 221
1999 106th D R – 55 R – 223
1997 105th D R – 55 R – 228
1995 104th D R – 52 R – 230
1993 103rd D D – 57 D – 258

All government spending originates in the House of Representatives, so spending was a Democrat problem since the Democrats took over the House (and Senate) in January 2007. They own this recession.

And the reason that things went well in the Clinton Presidency is because the Republicans were in control of all the spending.

Republicans block Democrats’ attempt to raise taxes on job creators

From Fox News.

Excerpt:

Senate Republicans on Saturday voted against President Obama’s plan to extend the Bush tax cuts to only the middle class in a pair of votes Democrats are seizing to paint the GOP as guardians of the rich.

The Senate voted 53-36 to extend all expiring tax cuts on individuals with incomes of less than $200,000 a year and married couples making less than $250,000 — seven shy of the required 60 to advance.

Now keep in mind that “the rich” are the very people who own the small businesses that create most of the jobs. That is why constant slamming of the rich with taxes and health care mandates has raised the unemployment rate to 9.8% and kept it above 9% for 19 months – a record never before seen in the history of the country. When Obama says “the wealthiest 2%”, you need to hear “9.8% unemployment”. The wealthy are the ones who create the jobs. Bash the wealthy, and you get fewer jobs.

Obama says:

President Obama said he was “very disappointed” in the Senate’s verdict.

“Those provisions should have passed,” he said.”It makes no sense to to hold tax cuts for the middle class hostage to permanent tax cuts for the wealthiest 2 percent of Americans especially when those high-income tax cuts would cost an additional $700 billion that we don’t have and would add to our deficit.”

“But with so much at stake, today’s votes cannot be the end of the discussion,” he said. “It’s absolutely essential to hardworking middle class families and to the economy to make sure their taxes don’t go up on Jan. 1.”

But the truth is:

Senate Minority Leader Mitch McConnell immediately slammed the political maneuvering by Democrats after the votes.

“According to the strange the logic of Democratic leaders in Congress, the best way to show middle class Americans that they care about creating jobs is to slam some of America’s top job creators with a massive tax hike,” he said on the Senate floor.

“Today’s vote was an affront to the millions of Americans who are struggling to find work and a clear signal that Democrats in Congress still haven’t got the message from the November elections,” he said.

Obama is anti-middle class because he is anti-small-business, and small businesses hire the middle class.

Democrats don’t understand how jobs are created

In fact, the unemployment rate has been steadily rising since the Democrats took control of the spending process by winning the House and Senate in January 2007. The left side of this graph begins when Nancy Pelosi and Harry Reid took control of the House and Senate in January 2007.

Democrats took control of the economy in 2007
Democrats took control of the economy in 2007

The chart doesn’t lie. When the Democrats control the budget, spending and unemployment rise a lot. When the Republicans controlled the House and Senate, the unemployment rate was 4.5%. These numbers do not lie. When they told you that more spending (the “recovery plan”) to their favored special interest groups will create private sector jobs, they lied. The numbers show that they lied.

People like Michele Bachmann actually OWN SMALL BUSINESSES and they HIRE AMERICAN WORKERS. People like Michele Bachmann should be in charge of the economy. Not people like Obama. Obama had a rich grandmother who paid for all his schooling at expensive private schools. He had his life handed to him on a silver platter. Michele Bachmann grew up poor.

What does “quantitative easing” really mean?

There are some mild curse words in this, but it is the awesome. (H/T ECM and Lex Communis)

The video has gone the viral. It has the 600,000 views as of the 10 PM.

“Of course not, they are the Goldman Sachs. They make their money ripping off the American people”. LOL!

UPDATE: 24 hours later, and close to a million page views.