Thursday, October 2, 2008

Demonizing The Republicans

As this election process progresses the liberal media has portrayed Republicans as the architects of every problem facing America. Nancy Pelosi couldn't wait to blame the Republicans for the present financial crisis. Her partisan blame game of the Bush administration goes like this: "No regulation, no supervision, no discipline. If you fail, you will have a golden parachute and the taxpayer will bail you out."

When she was asked if the Dems share some of the blame in this current economic crisis she responded with a one word answer, "No." I present the following facts and will let them speak for themselves.

The Democrats took control of the Congress in 2006 by "strectching the facts" according to Paul Kanjorski. They still mount a offense that the Republicans for the last eight years have ruined the country. Let's look at 2006 vs. 2008 to see if that offense holds water.

Unemployment rate was at its lowest point since July 2001 in 2006 at 4.7%..Unemployment rate today is 6.1%. When George Bush took office in 2000 the unemployment rate was 3.97%.

The price of a gallon of gasoline on January 2nd, 2006 at the pump was $224.2. The price on September 15th, 2008 was $376.6. When George Bush took office in 2000 the price was $133.5. It only rose 90.7 cents to 2006(six years) then spiked $1.524 in less than two years.

The Dow Jones Industrial on January 9, 20006 closed at 11,011.90, first close above 11,000 since June 7, 2001. Today the Dow is 10,565.36. When George Bush took office the Dow was 11,351.30.

According to the Treasury Department the total debt outstanding was $8.1 trillion in January 2006. Today the total debt is over $10 trillion. When George Bush took office the total debt stood at 5,706,174,969,873.86

Homeowners’ Equity/Value of Household Real Estate ratio was 53.6% at the end of the third quarter 2006.
The first quarter of 2008
that number dropped to 46.2%. From 2000-2006 the ratio average 55.3%

According to a table in an article that appeared January 29, 2008 in USA Today the foreclosure filings for 2006 was 1,259,118 and foreclosure filings for 2007 rose to 2,203,295. I was not able to find the rate for 2000 but feel free to email me with a link if you find one.

The real problem in Washington eminates from political posturing at a time when we so despartely need bipartisan solutions.

No comments: