Facts that the GOP has conviniently forgotton and rewritten.... Conservatives love to blame President Obama for our nation’s economic woes, but it’s almost as if they’ve conveniently forgotten just how badly the Bush Administration destroyed the American economy and left the next president a monumental mess to clean up. Not to worry, this video is sure to refresh their frail memories. As our friend Benjamin Feinblum at Armed Democrats wrote for policymic: In December 2008, the month before Obama took office, we lost 839,000 jobs. In July 2012, we gained 163,000 jobs. This is a 1,002,000 swing in the monthly job numbers from the starting point where Republicans left and Democrats took power. The Bush Administration left America with -8.9 GDP, and within just one year, Pres. Obama improved it to + 3.5%, which is a 12.4% swing, the biggest in US economic history. Roosevelt took office in 1933 and started a massive spending program to boost the economy and dig America out of the Great Depression. My point is, during this collapse, Republicans wanted to do nothing — like they did from 1930 to 1933. During that time, unemployment went from 4.6% to 24.9%. Had Obama not come in and passed the stimulus, and instead followed Republican ideas, that is where we would have ended up. Obama broke the free fall. Now, those of us who support him must fight on his behalf. He turned America around in an extremely dramatic way. Examine the process Republicans used to block the American jobs act to sabotage the President’s ability to improve the economy prior to the election. Every jobs bill was filibustered. Not the vote on the final bill, but they filibustered the capacity to even debate jobs measures. Republicans did not want to be on record when they blocked legislation that provided tax cuts for small businesses, so they wouldn’t even debate the issues. We must hold Republicans accountable today for the jobs reports we see. More jobs could have been added if Republicans were a little bit more patriotic and vigilant about seeing America successful as fast as possible. As reported by the Daily Koss: No, my friends, Barack Obama unequivocally did NOT bail out the banks!! For the last time it was George W. Bush and his Treasury Secretary Henry Paulson (former CEO of Goldman Sachs) that cooked up that idea, hastily sped the plan through Congress (most of which are bought off by Wall Street anyway), and signed into law. Yes, TARP, the Troubled Assest Relief Program, was signed into law on October 3, 2008, a full month before candidate Obama was even elected! When Paulson was pushing his plan, he wanted to give the banks the money with absolutely no strings attached as quickly as possible and with no oversight whatsoever! Thankfully we had a few good Democrats who had heads on their shoulders and didn’t allow $750 billion of the taxpayers’ money go to the banksters just like that. However, remember what did happen? Just a couple of months later and again a year later? With the taxpayers’ bailout money? Multi-million dollar BONUSES!!!! That’s right, huge bonuses for the very same executives who played Russian roulette with their customers’ deposits and investments (which was only legal because of the repeal of Glass-Steagall). Instead of being fired or investigated or going to jail for their crimes, these scumbags stole even more of middle-class America’s money and pocketed it, and it was government sanctioned. Once again, why do you think there’s an Occupy Wall Street? It seems as if Republicans came down with a massive case of collective amnesia regarding the unprecedented cronyism and corruption of the Republican Bush Administration and the imploded economy they handed to President Obama, the worst since the Great Depression. Please watch the video below and share this and other articles on social media forums so that everyone will know about the Republican Party’s convenient amnesia.
Posted on: Wed, 29 Jan 2014 10:24:51 +0000
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