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Tuesday, September 16, 2008

Nancy Pelosi Denies Democrats Role In Financial Crisis

The RNC points out this little fact:

"The Pelosi-Obama Congress has failed to pass an all-of-the-above energy plan, failed to stop earmarks, and failed to break the partisan gridlock that plagues Washington. If Pelosi thinks the Democratic Congress is doing a good job handling the economy now, then just imagine how bad our economy would be if Democrats controlled the White House, too.”

Nancy Pelosi denies Congress, which has been Democratically controlled since the beginning of 2007, bears responsibility for not doing their jobs, including oversight, in the financial crisis that hit yesterday.

House Speaker Nancy Pelosi, when asked Tuesday whether Democrats bear some of the responsibility regarding the current crisis on Wall Street, had a one-word answer: “No.”

She goes on to blame Bush, which is her favorite target when her Congress fails.

Macsmind makes this point:

The only problem Ms. Pelosi is that all of the economic sectors facing challenge right now are in some way or another under the Democratic congress’s oversight. For instance the banking crisis might have been caught earlier had Chris Dodd done his job as Chairman of the Senate Banking Committee, instead of getting sweetheart deals from Countrywide Financial and running for President. Fact is that during his run for President he was missing in action on the committee for much of the 2007 session.

Macsmind then points us to Texas Rainmaker's March post which shows usa visual of the situation which speaks louder than any words ever could.

A little over a year ago:

1. Consumer confidence stood at a 5-year high;
2. Regular gasoline averaged under $2.30 a gallon;
3. The unemployment rate was down to 4.4%.
4. Americans were enjoying historically-high home equity.

Since voting in a Democrat Congress in 2006 we have seen:

1. Consumer confidence plummet;
2. The cost of regular gasoline soar to over $3.25 a gallon;
3. Unemployment rise to 4.8% (a 9% increase);
4. American home equity hit the lowest point in six decades;

No wonder the approval rating for the Democratically controlled Congress and Senate has hit the lowest numbers in the 35 year history of polling for congressional approval.

Nuff said?