Excerpt: CHICAGO (AFP) – US President Barack Obama accused Republicans of wanting to turn the United States into a “Third World” country as he rallied support for his reelection campaign. Read YAHOO News article here.
The article is not as interesting as the comments, two of which are below:
1. Gabe – The Republicans were in control from 2000-2006 before the Democrats took over congress in 2007. In 2006, the final year under a Republican President and a Republican Congress, the unemployment rate was 4.6%. Today, under Obama and a Democrat congress, the unemployment rate is 8.9% (according to the Federal Government – but 10.0% according to Gallup). Under Obama and the Democrats, poverty has reached its highest level since 1959. The numbers don’t lie. The failed economic policies of Democrats have been destroying lives, wrecking our economy and shattering the American dream since the Democrats took over congress in 2007. The before and after statistics prove it.
A brief history lesson:
1977: Jimmy Carter (D) signs the Community Reinvestment Act, guaranteeing homes loans to low-income families.
1999: Bill Clinton (D) puts the CRA on steroids by pushing Fannie Mae & Freddie Mac (F&F) to increase the number of sub-prime loans (owning a home is now a ‘right’.).
1999 (September): New York Times publishes an article, ‘Fannie Mae Eases Credit To Aid Mortgage Lending’, which warned of the coming crisis due to lax lending policies of the Clinton (D) administration.
2003: White House calls Fannie and Freddie a “systemic risk”. The Bush (R) administration pushes Congress to enact new regulations.
2003: Barney Frank (D) says F&F are “not in a crisis” and bashes Republicans for crying wolf and calls F&F “Financially Sound” Democrats block Republican sponsored regulation legislation.
2005: Fed Reserve Chairman Alan Greenspan voices warning over F&F accounting “We are placing the total financial system of the future at a substantial risk”
2005: Sen Charles Schumer (D) says “I think F & F over the years have done an incredibly good job and are an intrinsic part of making America the best-housed people in the world.”.
2006 Sen. John McCain (R) again calls for reform of the regulatory structure that governs F&F.
2006: Democrats again block reform legislation.
2008: Housing market collapses: Democrats blame the Republicans.
Obviously the Republicans aren’t free of guilt concerning the cause of this crisis because they didn’t try hard enough to prevent it and in some cases allowed it to happen (one of the reasons conservatives and independents disliked Bush by the way and one of the reasons that many of those votes went to Obama as a ‘protest’ against Bush’s liberal tendencies). But as can plainly be seen the Democrats hold the lion’s share of blame for the economic melt down we’re currently enjoying.
How can it be the ‘fault’ of the Republicans when the democrats are the ones that caused the current recession/depression and have been in complete control of the purse strings of the country from 2007 – 2011? Only in the mind of the socialist propaganda machine can it be ‘Bush’s fault’ when 90% of the blame rests squarely on the shoulders of the democrat party.
Seems like it’s CLEARLY the democrats that are the ones doing this to us…and to a WAY lesser degree, the Republicans. Maybe Obozo misspoke and he actually meant the democrats want to make the US a third world nation?
2. COWBOY FAN FOR LIFE – Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes Since nearly everyone in the United States now has a number, it became convenient to use it anyway and the message, NOT FOR IDENTIFICATION, was removed.
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:
1.) That participation in the Program would be completely voluntary,
No longer Voluntary
2.) That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program,
Now 7.65% on the first $90,000
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
No longer tax deductible
4.) That the money the participants put into the independent ‘Trust Fund’ rather than into the general operating fund, and therefore,would only be used to fund the Social Security Retirement Program, and no other Government program, and,
Under Johnson the money was moved to The General Fund and Spent
5.) That the annuity payments to the retirees would never be taxed as income.
Under Clinton & Gore up to 85% of your Social Security can be taxed
Since many of us have paid into FICA for years and are now receiving a Social Security check every month —
and then finding that we are getting taxed on 85% of the money we paid to the Federal government to ‘put
away’ — you may be interested in the following:
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Q: Which Political Party took Social Security from the independent ‘Trust Fund’ and put it into the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the democratically controlled House and Senate.
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Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democratic Party.
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Q: Which Political Party started taxing Social Security annuities?
A: The Democratic Party, with Al Gore casting the ‘tie-breaking’ deciding vote as President of the Senate, while he was Vice President of the US
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Q: Which Political Party decided to start giving annuity payments to immigrants?
A: That’s right! Jimmy Carter and the Democratic Party.
Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!
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Then, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!
And the worst part about it is uninformed citizens believe it!
If enough people receive this, maybe a seed of awareness will be planted and maybe changes will evolve.