Asked to describe a scenario that could restore her to the House speakership, Pelosi started tap-dancing frantically before instinctively pressing the Democratic Party default button that assigns blame to George W. for everything from our exploding national debt to the heartbreak of psoriasis.
Ominously, she recounted a foreboding September 2008 meeting with then-Treasury Secretary Henry Paulson to discuss the nation's economic outlook. "He took us to the depth of Hell, a place so low that even Dante couldn't find it," Pelosi explained. "Four years ago, the Chairman of the Fed (Ben Bernanke also) said if we don't act immediately, we will not have an economy -- after hearing the description and knowing the crisis we were in as a result of the policies of the Bush administration."
Although Pelosi repeatedly emphasized the exact date of that meeting, neither she nor the attending members of the fourth estate observed that this dire economic collapse came almost two years after the Democrats had regained control of both houses of Congress.
Exactly what had House Speaker Pelosi and Senate Majority Leader Harry Reid inherited from their Republican predecessors when they took over the congressional gavels in January 2007? How about a nominal Gross Domestic Product that would grow by more than 5% that quarter, a Dow Jones index of 12,621 on its way to a high of 14,198, an unemployment rate of 4.6%, and a record 52 straight months of jobs growth? The national debt then was less than $8.7 trillion.
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