In 2006 unemployment was 4.6 percent. President Bush economic policies had set a record of 52 months of job growth. Beginning when Bush became president in 2001 he tried numerous times to get Congress to pass some legislation to control Fannie Mae and Freddie Mac. They were continuing to guarantee mortgages that were doomed to failure. And yet Congress refused to do anything due to Democrat filibusters. In fact the Democrats said there was absolutely nothing wrong with Fannie Mae and Freddie Mac. (See youtube videos.) And then in January 2007 the Democrats took over complete control of Congress. The Democrat Barney Frank took control of Fannie Mae and Freddie Mac and the Democrat Chris Dodd took control of the Senate Banking Committee. The bank failures and “toxic mortgages” followed soon after and the economy began it’s downward spiral.
Congress controls the budget, not the president. Then Senator Obama voted for all new legislation presented by the Democrats in 2007 and 2008. How well did that work out?