Will republicans ever admit they created a 2nd great depression?

Democrats controlled both houses of Congress before Barack Obama became president. The deficit he inherited was created by the Congressional Democrats, including Senator Barack Obama, who did absolutely nothing to oppose the runaway spending. He was one of the biggest of the big spenders.

The last time the federal government had a budget surplus, Bill Clinton was president, so it was called "the Clinton surplus." But Republicans controlled the House of Representatives, where all spending bills originate, for the first time in 40 years. It was also the first budget surplus in more than a quarter of a century.

The only direct power that any president has that can affect deficits and surpluses is the power to veto spending bills. President Bush did not veto enough spending bills but Senator Obama and his fellow Democrats in control of Congress were the ones who passed the spending bills.

Having created this scary situation, President Obama now says, "Don't give in to fear. Let's reach for hope." The voters reached for hope when they elected Obama. The fear comes from what he has done since taking office.

Another political fable is that the current economic downturn is due to not enough government regulation of the housing and financial markets. But it was precisely the government regulators, under pressure from politicians, who forced banks and other lending institutions to lower their standards for making mortgage loans.

These risky loans, and the defaults that followed, were what set off a chain reaction of massive financial losses that brought down the whole economy.

Was this due to George W. Bush and the Republicans? Only partly. Most of those who pushed the lowering of mortgage lending standards were Democrats-- notably Congressman Barney Frank and Senator Christopher Dodd, though too many Republicans went along.

At the heart of these policies were Fannie Mae and Freddie Mac, who bought huge amounts of risky mortgages, passing the risk on from the banks that lent the money (and made the profits) to the taxpayers who were not even aware that they would end up paying in the end.

When President Bush said in 2004 that Fannie Mae and Freddie Mac should be reined in, 76 members of the House of Representatives issued a statement to the contrary. These included Barney Frank, Nancy Pelosi, Maxine Waters and Charles Rangel.

If we are going to talk about "the policies that created this mess in the first place," let's at least get the facts straight and the names right.

The current policies of the Obama administration are a continuation of the same reckless policies that brought on the current economic problems-- all in the name of "change." Fannie Mae and Freddie Mac are still sacred cows in Washington, even though they have already required the biggest bailouts of all.

Why? Because they allow politicians to direct vast sums of money where it will do politicians the most good, either personally or in terms of buying votes in the next election. o_O

IMO lets make a comparison I tend to think (D) lean to a socialistic standard with their views on wealthfare taxing the rich how to run your buisness etc. NOw lets take a look at how some socialistic countries have done, we have USSR now thats what you call a depresion Vietnam guess they desearve a little credit, so how can u blame the depression on (r) when history has set a precendent that socialism doesnt work?

The current Recession started when Democrats took control of congress in 2007.

Your 'facts" are in error on so many levels.

Obama and his Democrats created the "total disaster" and now have little or no interest in fixing anything. As i recall wasn't the 787 billion dollar "stimulus" suppose to keep unemployment at 8% or less?

The Government takes in 30 trillion dollars in a 10 year period of time, the Bush tax cuts were 2.5% of that spread out over 10 years and went to people that worked for a living and paid taxes. No where near "2.5 trillion" You don't have to "borrow" money for a tax cut.

As i recall the war was going on in the 90s where the Clinton government chose to ignore repeated attacks by Al quada and even ignored the warning given in 96 about the use of airliners as cruise missiles.

All in all you are lying thru your teeth, I would like President Bush back.

More things they won't admit:

1. The Bush Tax cuts are not working.

2. Trickle Down economics is not working.

3. There has been little or no return on our investment in Iraq & Afghanistan.

No they will not. I have heard that republicans have a saying let no good crisis go to waste. Well i guess that saying applies even if you created the crisis. They will try to blame democrats for the recession and use it to promotee their ideological agenda (destroying the middle class. They will continue to give the rich tax breaks and incentives on the backs of the middle and lower class

That only makes sense using Republican logic.. Somehow, they can absorb Fox News oversimplifications that are no different than what you've posted but they've been trained to reject anything that says otherwise, even if it uses the exact same logic..

It's fascinating.. But depressing..

Only a political simpleton would try to pin rising gas prices on a ruling party.

Well, with the gullibility of Bush, Republican greed, arrogance, and a feeling of entitlement almost pushed us into something much worse than the Great Depression, which is why I will NEVER EVER again vote to put them in charge of anything. Not even the city waste dump. BUT, they'll never admit that happened, because they are trained to deny everything!

The GOP is filled with a bunch of blockheads. I've been making this same point for months and all they do is call you a stupid libtard for exposing the truth.

Both sides we all fight about, are 1 in the same!????

Think they care about us. look up Bilderberg.

They keep wars of all kinds going. Kill Wars, Drug war, War on poverty

The race war!!! They make money and we fight about which side is BEST!! LOL

SAD!!!!

"We need to understand the more government spends, the more freedom is lost...Instead of simply debating spending levels, we ought to be debating whether the departments, agencies, and programs funded by the budget should exist at all."

— Ron Paul