Here's a summary of what Representative Paul Ryan who will be Mitt Romney's Vice Presidential Nominee said on the Campaign Trail today. That President Obama inherited a bad situation, well gee you think, its called the "Great Recession" for crying out loud, you don't get a title like that. Unless its a real bad situation, Representative Ryan doing his impression of Captain Obvious today. With more lines like that, he could be headed to being promoted to Major Obvious but here is where Paul Ryan was wrong, that President Obama made things even worse. Its time for another history lesson for Representative Ryan, who was in the House for the entire time of the Bush Administration. President Bush back in 2001 inherited a growing economy that yes was slowing down from the Economic Boom of the 1990s, that created 22M jobs from 1993-2001, with 4.2% unemployment. The lowest poverty level in at least a generation if not a couple generations of 13%. With basically no inflation, with very low interest rates, a budget surplus, for consecutive budget surplus's. An a debt of around 4T$ that was going down, if you remember that period of the late 1990s and 2000, the fear was that America was going to pay off its debt too soon. How times have changed.
Now lets fast forward to eight years and then I'll go back to point out a few highlights of the previous eight years. The "Great Recession" occurs in September, 2008 as a result of the collapse of Wall Street, people losing their life long savings and investments. While at the same time losing their jobs with all of the business's drowning in red ink if not going under all together. A National Debt of approaching 11T$ up 7T$ in just eight years, unemployment over 7% up from just 4.2% eight years prior. Poverty at its highest level in a generation, a 1T$ budget deficit, all of these things occurring in just eight years and lets look at how we got there. Two 1T$ Tax Cuts that weren't paid for in 2001 and 2003, to unfunded wars in 2001 and 2003, over a trillion dollars each and of course the 500B$ Medicare Advantage plan that. Wasn't paid for that Representative Ryan had a role in writing in the House in 2003. That of course wasn't paid for, as well as not regulating Wall Street by the Bush Administration.
Before Barack Obama even became President in January, 2009, the United States had just lost 2M jobs in December in January total. And the economy was subtracting at 7%, fast forward that three and a half years later, things are still bad but the economy is growing for now three years in a row. And we've been adding jobs net each month since the Winter of 2010, including 160K jobs last month. Before Paul Ryan puts all the blame on President Obama, he should look at his own role in creating the mess of the Bush Administration, like all of that money he voted to but on the National Debt Card. What the President and Congress actually did with Medicare, was close the doughnut in the Prescription Drug plan and limit payments to the. Health Insurance Industry, so they could pay for Medicare Advantage that Representative Ryan and others voted not to pay for when they created Medicare Advantage.
It gets back to that old saying that you are entitled to your own opinions but not your own facts. We all have to share the facts, good, bad or in between, that is for anyone who believes in facts and these attacks on President Obama is an excellent example of that. That running against him based on current facts is not good enough to win. That we have to make things look worse in order to beat the President.