Bottom 3 colors (in chart) are a massive Gov engine spending; as Democrats prevent Bush critical reform point (arrow: 18.8% GDP)
Image: SBO: 2005 [ENLARGE]
Republican Majority was instrument in creating the Clinton surplus that Obama Democrats brag about... But since the Iraq war, and rapid take-over by Democrat Majority; they opposed any meaningful Bush reforms which did not require money to be pulled out of the private sector...
I was there.
Must View Video below; Bush Warns:
"Rising Costs of Government Entitlements is not going away."
(To the Cheers of 2006 Dem Majority)
THESE actions resulted in enhanced borrowing & savings depletion; by preventing reform of the Soc. Sec. & medicare system. Today, reality catches up with Dems, who say Bush did nothing to reform Soc Sec!
U.S. spending escalated under Democrat Majority, which will now progress toward a 4th year... The clash seems to be rooted in the Democrat's concept that "private sector" is Government sector... But blaming Bush for not reforming is highly in error; as I remember when they blamed him for reforming! They BLAME (as they do now) while controlling US purse strings...
Democrats need to claim this history: READ.
Or it will deepen... If not, DEMOCRATS WILL BE FORCED OUT! We need privatization to prevent the enormous SLUSH fund that entitlements produce; and the key reason we MUST prevent the mistake of Socialist Healthcare.
We also need a fair tax to get the economy going...
FACT: Privatization of Social Security would have resulted in a redistribution of power from the state to tax-payers, thus enhancing personal freedom, promoting faster economic growth, and raise in savings rate.
Bush formal efforts (2001-2007) which include his 2005 Soc. Sec. Privatization Act; would have created a rise in private surplus, & a trim-back on Congressional earmarks.
VIDEO: Bush explains (04-5) to CNBC
More entitlement reforms, rejected by Democrat Party...
VIDEO: Bush’s seventeen formal warnings about Freddie & Fannie (2004-2008) and demands to reign them in, were rejected by Dems: VIEW.
Democrat-run Freddie & Fannie were distributors of:
Carter’s 1977 Community Reinvestment Act.
Dems enacted "lending laws" passed in numerous states which outlaw such fees, prohibiting banks from protecting themselves from the added risk involved in making forced loans to "subprime" borrowers.
In 2009, Obama bails-out (twice bankrupt) F & F
And develops the:
American Recovery and Reinvestment Act of 2009-- "Poorly designed" it was probably one of the reasons why we’ve lost MILLIONS of private-sector jobs since it became law. Read more.
And on the subject of job-loss:
-VIEW ANIMATED MAP: HERE.
Democrat Majority controlled Congress (Since the 2006 November midterm elections) And Full Democrat Majority House, January, 2007... Note DECLINE in employment fig; with Dem Majority...