Posted by
P. Acosta on Sunday, October 26, 2008 1:16:43 PM
The “dreaded” George Bush has been in office for 7 1/2 years. During the first six years the economy was humming along after rebounding from the six to eight months “real recession” it was engulfed in since the third quarter of the year 2000.
During the time of the 2006 elections, consumer confidence stood at a 3 year high, the average cost of a gallon of gasoline was $2.19, the unemployment rate was at 4.5% the DOW JONES had hit a record high 14,000 + points and Americans were buying new cars, taking cruises, and traveling overseas, by all accounts the economy was doing just fine.
But Americans were told that they wanted 'CHANGE'! They were convinced by the Democrats and the mainstream media that the Iraq war was lost, that our efforts there were futile and that the only option left for us, was to cut and run, to surrender. We were promised that the election of Democrats would lead to the immediate ending of the war, as well as the culture of corruption that permeated Washington under the Republican's watch. Therefore after years of this constant barrage of negativity, Americans were persuade on 2006 to vote for a Democratic Congress. They voted for change!!!
And changes we got- on all aspects except the reason for which they were elected. The war was not ended and to the Democrats dismay the war was not lost, nor the culture of corruption that they spoke about, which instead of having ended, seems to have reached new heights.
Here is the change we got:
1) Consumer confidence has plummeted. For the last 8 years the Democrats have been talking down the economy and warning us about the impending recession just around the corner. Something they openly concluded will help them gain power, therefore they continue to sell gloom and doom, with total disregard of the repercussion to the average American family.
2) Gasoline rose to over $4 a gallon, yet the Democratic congress refuses to allow exploration of oil within our own territory, blocking every attempt to allow America to become energy independent. They have done this while ignoring the desires of an overwhelming majority of Americans who wish us to explore within our own territory.
3) Unemployment has risen above 6% and continues to rise. Yet the Democrats are proposing tax increases to the same businesses that have always been the largest source of job creation in our free society, and they do this at a time when these businesses are more strapped for cash than ever before.
4) Americans have seen their home equity drop by over $12 TRILLION DOLLARS and it is still dropping! This is the result of a credit crunch caused by a financial meltdown created by the Democrat’s social engineering law called (The Community Reinvestment Act) which as part of its overall package, forces financial institutions to carry bad loans, in the name of the all encompassing “greater good”.
5) Over 1% of American homes are in foreclosure today, something that the Democrats blame on Wall Street. Yet anyone familiar with the free market understands that “incentive drives behavior”. When the government told those who sell mortgages that it would guarantee all the bad loans they made, as long as they were dubbed by the politically correct name of “Minority Loans”, the government in effect incented sales people to push bad loans on to those who could not afford them. Unethical as this may be, and condemned as it should be, it was this initiative from the Democrats with their Fannie Mae and Freddy Mac piñata that created the proper environment to make this debacle possible. In other words, Wall Street’s wrong doing was aided and abided by a politically created environment that allowed unfettered greed to be rewarded, an environment that was aggressively guarded and protected from any oversight; by the same Democrats in congress that we are now told will be correcting the problem.
6) The “Change” voted on 2006 has largely contributed to bringing our economy to the brink of collapse, the DOW has plummeted, billions of dollars have evaporated from stocks, bonds, mutual funds and investment portfolios, consumer confidence is extremely low and the Democrats continue to talk about gloom and doom, a self-fulfilling prophecy no doubt, if the American people entrust them with additional power on the coming election.
Change is a double-edged sword. If America wants true change in 2008, they need to use the other edge of the sword to rid our government of all these merchants of doom responsible for the financial crisis.