Lately, there has been a spate of letters and commentary laying the blame for our current economic doldrums to the Republicans. These people might do well to chronicle the political events and the economy leading up to today’s situation.
The unemployment rate for March 2007 was 4.4 percent and has steadily increased since. The Dow crested 14,000 in early October 2007 and has been headed south since. We elected a new Congress in the 2006 elections and October 2007 was the start of the first fiscal year budget put together by this new Congress.
The party that took control of Congress in the 2006 elections increased its numbers in the 2008 elections and proceeded to more than double our national debt in two months. Does anyone see a correlation here?