I received this e-mail from a misguided friend. I added my comments after it and sent it on. I was hoping to get more comments. Sorry for its length.

TO ALL MY FRIENDS....LIBERAL OR CONSERVATIVE...FYI only.

George Bush has been in office for 7 1/2 years. The first six the economy was fine.
A little over one year ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOW JONES hit a record high--14,000 +
5) American's were buying new cars,taking cruises, vacations overseas, living large!...

But American's wanted 'CHANGE'! So, in 2006 they voted in a Democratic Congress and yes--we got 'CHANGE' all right. In the PAST YEAR:
1) Consumer confidence has plummeted ;
2) Gasoline went over $4 a gallon & soon will again;
3) Unemployment is up to 5.5% (a 10% increase);
4) Americans have seen their home equity drop by $12 TRILLION DOLLARS and prices still dropping;
5) 1% of American homes are in foreclosure.
6) $2.5 TRILLION DOLLARS HAS EVAPORATED FROM STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS!

YES, IN 2006 AMERICA VOTED FOR CHANGE...AND WE SURE GOT IT! ....

REMEMBER THE PRESIDENT HAS NO CONTROL OVER ANY OF THESE ISSUES, ONLY CONGRESS.

AND WHAT HAS CONGRESS DONE IN THE LAST TWO YEARS?  ABSOLUTELY NOTHING.

NOW THE DEMOCRATIC CANDIDATE FOR PRESIDENT CLAIMS HE IS GOING TO REALLY GIVE US CHANGE ALONG WITH A DEMOCRATIC CONGRESS!!!!

JUST HOW MUCH MORE 'CHANGE' DO YOU THINK YOU CAN STAND?  BY THE TIME THEY ARE DONE, ALL YOU WILL HAVE IS CHANGE -- JINGLING IN YOUR POCKET WHERE THE PAPER MONEY USED TO BE.

My comments:

Ok so the author of this e-mail states that everything was great and then we got a liberal congress that screwed everything up. In the authors own words congress has done nothing. If this is so, then how did the democrats screw anything up?

 The reality is that the majority of the economic problem is being caused by unpaid loans and mortgages. This was caused by the abuse of the 2 year A.R.M sub-prime loans. Americams had money because the housing market had gone crazy based on available credit that could not, and eventually was not repaid. This was an example of trickle up economics. The problem is that it was based in a system that had no roots.

 The legislation that created the sub-prime fiasco was actully started at the end of the Clinton administration.

 John McCain had warned of the impending doom as did many economists, but the then conservative congress ignored the warning signs. They had six years to fix it and did nothing about it.

 By the time the Democrats regained the majority in congress the damage was done. The bad mortgages were already in place and the clock was ticking. It has been 1 1/2 years since the bottom started to fall out and the banks started to reject new sub-prime loans because they saw what was starting to happen as the 2 year ARM's were coming due and the homeowners were defaulting. My point is that this only gave the Dems 6 months before the bottom fell out.

 Lehman brothers going bankrupt was not where this all began. It isn't as though the problem just now started. It has been long and coming.

 BTW when Bush became Pres we had a 5 trillion dollar debt with a plan that was lowering it on a steady basis thanks to Bill. During the first 6 years of Conservative rule, that debt skyrocket to a historic level. We are now facing the very very real possibility of no longer being the most powerful nation in the world.

 This author is yet another example of taking some truth, and presenting it in a fact lacking manner to make the outcome appear to be different in reality than what reality actually is. 

 OK I could go on forever but I'll stop here, at least for now.