Nancy Pelosi is flat out bat crazy! When her lips move, she’s lying. Her rebuttal to President Trump’s State of The Union Address was full of lies. She kept saying that Trump inherited momentum, not a mess. She boasted of all the so called success of the Obama administration’s accomplishments. What she didn’t say was that most of those accomplishments were done by infusing over a trillion dollars of taxpayer cash into the private sectors, like The Auto industry Bailout, The Insurance Industry Bailout, the failed Alternative Energy Bailout of $535 million (The Solyndra Corp), an illegal act, by the way, for government to invest in a private company, and let’s not forget Iran’s bailout of $151 billion plus $1.8 billion in cash to a terrorist nation.
She touted that Obama lowered the deficit by a trillion dollars, again not true. Obama raised the national debt by over $9 trillion! Pelosi also praised the failed Affordable Care Act boasting that twenty million people got health insurance that were previously unable to before. Not sure where she is getting her 20 million people number but the statistics on the https://www.census.gov/ website do not correlate with her number and many more lost their coverage, or could no longer afford it under the Afforable Care Act. A record number of hospital and health care facilities closed, and the promise that you can keep both your insurance plan and your doctor quickly became one of the biggest lies ever perpetrated on The American people, by any president.
Pelosi said Obama was responsible for creating fourteen million jobs. Again, not true, check out the labor participation stats for the data. Most of the jobs were not “created” at all. These were all jobs that people were being rehired for when they returned back to work after losing them. All this was caused by another previous Democratic Legislation debacle, during the last two years of The Bush administration that caused the stock market crash and tons of other subsequent private sector job losses.
Legislation written and introduced by Chris Dodd and Barney Frank was signed into law through a Democratic majority in both the House and the Senate, mandating that banks must give mortgage loans to anyone that wanted to buy a house whether the loan was secured or not. Most of the mortgages that were written were done so by Fannie Mae and Freddie Mac lending institutions, both of which are primarily taxpayer backed financially. Subsequently, the mortgages that were sold off and Mortgage Backed Securities were then written against them (a common practice by the banks). These financial instruments were then used to leverage investments in the stock market, by insurance companies and other investment firms sometimes up to a hundred times their value, again, a common practice, because the entire amortization value of the mortgage is considered. When those millions of unsecured notes became due, and were not met with the financial obligations of their holders, a cascade effect happened causing the crash because both the mortgages and the securities written against them became worthless. Any investor using that financial tool instantly went bankrupt unless they could back the investment financially.
Anyone buying into Pelosi’s bull-crap and is considering voting The Democrats back into office, and returning the government back to this kind of policy insanity, needs to get their head examined. They almost bankrupted the country before, surely it will the next time, and given the chance, you can bet good sound money The Democrats will have their way.