@north,
In 2006 unemployment was at 4.6% and the Dems took the House. After 6 years of complaining about how much money Bush was spending on the wars they for some reason didn't stop it like they said they were going to. It was about this time that the housing markets were starting to look a little funny. Growth was starting to slow and people were already starting to lose their houses. It was primarily the ARM's that were starting to fail. At this point they didn't look into Fannie May or Freddie Mac to find out what was going on. Instead they focused their attention Bush and making sure his last 2 years in office were failures. They were pushing the budget but didn't seem too interested in slowing down the rate of spending.
In 2008 unemployment was at 5.0 and when the election took place in Nov it was at 6.8%. Just before the election people were losing their houses faster than the banks could take them back. With an election on the line Barack Obama voted to give the banks money to keep them from failing. This $700 billion payoff to the banks was the first step. Obama voted for it knowing he could become president. He didn't put up a fight. With the Dems running the house and a 2 seat lead in the Senate as well as having a lock on the Presidential race it is a wonder how the Left can blame the Reps for TARP when you look at the voting spread:
In the House, H.R. 1424 passed with the following breakdown of votes:
Democratic 172 Yea; 63 Nay
Republican 91 Yea; 108 Nay
Total - 263 Yea; 171 Nay
In the Senate, H.R. 1424 passed with the following breakdown of votes:
Democratic 41 Yea; 10 Nay
Republican 33 Yea; 15 Nay
Total - 74 Yea; 25 Nay (Sen. Kennedy was in the hospital and did not vote.
Officially the Dems added $700 billion to the defect but have somehow pushed the blame onto the Reps.
After the election and within the first 10 days of the new Congress the Dems were at it again. This time doing an $800 billion Stimulus package. In less than 4 months they had nearly spent 2 trillion dollars. At this point unemployment was at 7.8%.
Forward 1 year and several months later and what are the Dems doing now but spending another 1 trillion on health care coverage. So in the last 1 1/2 years the Dems have spent 3 trillion dollars and we were told before the Stimulus plan that this would keep unemployment capped at 8%.
By the elections of 2010 unemployment was at 9.8% and didn't appear to be going down any. There wasn't any relief in the job market until the Bush tax cuts were extended for everyone. Since that time unemployment has dropped down to 9.1. With the added stability in the tax code jobs are slowly coming back.
Pretty much sums up how the Dems have pushed the economy to the brink of death and will do nothing to fix it. They have to understand what a debt-to-income-ratio is and try to live by it. There is no reason why we can't cut spending and instead of increasing taxes close some loop holes.