The economy began to collapse when the Democrats captured the House and Senate and we then knew that the lower tax rates on individuals, capital gains, and dividends would end after 2010.
Right. Washington Mutual was going along all hunky-dory until 2006, when they all of a sudden realized that in five years, barring any economic growth whatsoever, deposits and investments might fall slightly based on tax code changes. That’s when they decided to start tearing this whole thing down, shoving billions out the door to any black person they could find, financing $500,000 mortgages for shanties and tool shed made out of poorly welded-together car doors. And bank after bank will keep doing this until those tax cuts come back, because when faced with having slightly decreased revenue in two to three years, it makes sense to just destroy the entire economy from the inside out.
This is why Democrats don’t get support from Big Business – we just don’t understand how capitalamism works.
Then there’s Instapundit, declaring:
Meanwhile, I wonder if there’s a connection between the accelerating unemployment and the scary talk from the Obama camp. If I ran a business, I’d be scared.
Well, if we look at the unemployment numbers, the obvious answer is “no”. Obvious, in this case, being a synonym for “Jesus Christ, you actually said that. Really? And you weren’t joking. Really?”
Unemployment started accelerating in April of 2008. The current unemployment numbers are the numbers for January of 2009, for 2/3 of which Obama was not president. In fact, if we’re playing “blame macroeconomic conditions on candidates describing said conditions”, unemployment went up in both July and August of 2008, when McCain was running “Celebrity” ads and choosing Sarah Tall and Insane to be the Next Republican Fertility Idol, his best months of the general election.
This is the precise reason why negotiating with the Republicans on the stimulus bill has been so fruitless and so ultimately pointless: they don’t want a bill that spends or a bill that cuts taxes; they want an act of public contrition from Democrats that absolves the GOP of blame for any responsibility it may have had for the current economic situation. Democrats will be blamed regardless for anything that happens in the economy – they’re getting blame for an economic crash that’s been going on since December 2007 despite having been in charge two and a half weeks. It makes more sense to pursue the best possible policy and accept that Republicans are going to call you economy-destroying shitheads than to keep coming back to them over and over expecting that they’ll answer a proposal to increase funding for public transportation with anything but an offer to shove a bus right up your ass, and then declare Nancy Pelosi responsible when the people who rely on the number 6 don’t get to work.