Thank you George for sending this reminder my way.

Just to remind you when President Obama starts to blame Bush for all our problems.
Then the main stream media picks up on the same rhetoric.
Then the forgetful citizens start to believe the BullS*** and pass it around AS FACT.

The day the Democrats took over was not January 22nd 2009, it was actually January 3rd 2007, the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress.

The Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in Jan 1995.

For those who are listening to the liberals propagating the fallacy that everything is “Bush’s Fault”, think about this: January 3rd, 2007, the day the Democrats took over the Senate and the House:

The DOW Jones closed at 12,621.77
The GDP for the previous quarter was 3.5%
The Unemployment rate was 4.6%
George Bush’s Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!

Remember that day…

January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.

The economic meltdown that happened 15 months later was in what part of the economy?

BANKING AND FINANCIAL SERVICES!

THANK YOU DEMOCRATS (especially Barney) for taking us from 13,000 DOW, 3.5 GDP and 4.6% Unemployment…to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!

BTW: Bush asked Congress 17 TIMES to stop Fannie & Freddie, starting in 2001 because it was financially risky for our economy. Barney blocked it and called it a “Chicken Little Philosophy” (and the sky really did fall!)

And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? BARACK OBAMA

And who fought against reform of Fannie and Freddie?
OBAMA and the Democrat Congress, especially BARNEY!!!!

So when someone tries to blame Bush…
REMEMBER JANUARY 3rd, 2007…. THE DAY THE DEMOCRATS TOOK OVER!”

Bush may have been in the car but the Democrats had the gas pedal and steering wheel… They (the Democrats) were the ones driving the economy into the ditch.

Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democratic Party.

Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011.

In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.

For 2008-2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budget.

And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009. Let’s remember what the deficits looked like during that period:

If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending since the War on Terror began. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.

If Obama inherited anything, he inherited it from himself, and a Democratic Congress!

In a nutshell, what Obama is saying is “I inherited a deficit that I voted for, and then I voted to expand that deficit four-fold since January 20th, 2009.“

You know the three who helped bring down Wall Street?
All three former Fannie Mae executives who helped cause trillion dollar bailouts?

Franklin Raines – was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregularities in Fannie Mae’s accounting activities. Raines left with a “golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear.

Tim Howard – was the Chief Financial Officer of Fannie Mae. Howard “was a strong internal proponent of using accounting strategies that would ensure a “stable pattern of earnings” at Fannie. Investigations by federal regulators and the company’s board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004. Howard’s Golden Parachute was estimated at $20 Million!

Jim Johnson – A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. Investigators found that Fannie Mae had hidden a substantial amount of Johnson’s 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million.” Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae. Johnson’s Golden Parachute was estimated at $28 Million.

ARE THEY IN JAIL TODAY?

NOPE!

And they ARE NOT working for Barack Obama today as reported to me yesterday see below.

FRANKLIN RAINES?
Raines works for the Obama Campaign as his Chief Economic Advisor.

TIM HOWARD?
Howard is a Chief Economic Advisor to Obama under Franklin Raines.

JIM JOHNSON?
Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama’s Vice Presidential Search Committee.

Here is the base to that rumor … how it started and how it was perpetuated according to Wiki.

http://en.wikipedia.org/wiki/Franklin_Raines

“On 16 July 2008 The Washington Post reported that Franklin Raines had “taken calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters.”.[25] Also, in an editorial on August 27, 2008 titled “Tough Decision Coming”, the Washington Post editorial staff wrote that “Two members of Mr. Obama’s political circle, James A. Johnson and Franklin D. Raines, are former chief executives of Fannie Mae.” On September 18, 2008, John McCain’s campaign published a campaign ad that quoted the Washington Post reporting regarding Raines and Obama. The ad also notes that “Raines made millions and then left Fannie Mae while it was under investigation for accounting irregularities”.[26]

Neither Raines nor the Obama campaign had disputed the Post’s reporting before the ad. The text in question consisted of one sentence in each article. After McCain’s ad however, both denied that Raines was or had been a provider of advice to Obama or the Obama campaign.[27][28][29]

In later commentary the Washington Post (the original source) described McCain’s attempts to connect Obama with Franklin Raines based on their reporting as “a stretch” and said all reporting they did about the matter actually stems from a single conversation a reporter had with Raines in which she recalls Raines said he “had gotten a couple of calls from the Obama campaign”. When the reporter queried Raines to the nature of the calls he said “oh, general housing, economy issues”.[30]

Additionally, an email hoax falsely claims Raines was made “Chief Economic Advisor” for the Obama presidential campaign.[31]”

Debunked here:

http://www.truthorfiction.com/rumors/o/Obama-fannie-mae-advisors.htm