VP Joe Biden says the economy is swiftly recovering; everything is going to be just peachy. Mr. Credibility said further that we are re-building after the terrible mess that Bush and the Republicans left the Democrats. Some writer compared this obvious fabrication to the Monty Python episode where the pet store owner insisted the stone dead parrot was only resting. When the Democrats took control of Congress in 2007, unemployment was 4.5%, stock market was at 12000, and the deficit was 1.4% of GDP. Today unemployment is 9.5 and will likely climb higher, more than 18 percent of people who want full-time work can only find part-time jobs. Consumer confidence is destroyed, housing sales recently hit a 15-year low, and the stock market is off 11 percent since its April highs for the year. Runaway federal spending isn't likely to be brought under control as long as the major entitlements - Social Security, Medicare and Medicaid - remain completely out of control. The number of entitlement beneficiaries is growing faster than the number of taxpayers, and entitlements account for more than half of federal spending.
When the Democrats took control of Congress in 2007 it was precisely the time that marks the beginning of the recession. The actual facts put the big lie to one of the many lies of the current Democrat regime.
One Guy's Opinion on the Political Scene By: Jim Herndon
