Rep. Jim McGovern (D-MA) is one of the top socialists in Congress. He is so radical that there were even reports that this leftist was behind meetings between government officials and Marxist FARC terrorists in Colombia.
In a recent debate he tried to blame George W. Bush for the Fannie and Freddie collapse in 2008.
The voters booed him.
Pundit Press has the story.
You can’t lie to the people all of the time, Representative.
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For the record…
THE TRUTH – THE BUSH TAX CUTS GREW THE ECONOMY.
During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop. In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth.
President Bush warned the Democratic Congress 17 times in 2008 alone about the systemic consequences of financial turmoil at Fannie Mae and Freddie Mac and also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
Unfortunately, these warnings went unheeded, as the President’s repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.