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This is who sets your country's budget each and every year.
I just ran across an article at Protein Wisdom that really puts our current economic situation—particularly in relation to this year's elections—in very clear perspective. Consider that:
... Barack Obama is not running in 2010. The question in 2010 is over control of the House and Senate. When Democrats took control of those two institutions in January 2007, the S&P 500 was at 1300 on 3 years of positive growth; the annual deficit was 2% of GDP and had been decreasing for the previous 3 years, and unemployment was at 4.9%, and had not been above 6.5% since the last time Democrats controlled the House in 1994. Over the next 3 years of Democrat Congressional rule, the budget deficit soared to more than 10% of GDP, unemployment went straight up to 10.5% and has stayed above 9.5%, and the S&P500 is down to 1100.
Be sure to read the rest, because it really couldn't be any simpler than this—The Democratic Party took total control over our government's financial direction in 2007, when they were voted into the majority of each house in Congress. With this control, their party has relentlessly pursued fiscal policies* that even the most teetotaling drunken sailors would be ashamed of.
And yet, when the Smartest Political Party of Evuh discusses our economy on television, they continually blame it on the "last 8 years of Bush."
I wonder if any of these Ultra Smart People could point out exactly what budget committee it was that Nancy Pelosi let President Bush run during that time.
* Side Note: The Republican party has its fair share of atrocious Congressional outrages as well:—Medicare Part D, No Child Left Behind, and on, and on, and on. Which proves once again why "electability" should be the least of our concerns when we put candidates up for Congressional seats.