The day the Democrats took over was not January 20, 2009, it was actually January 3, 2007 the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress.
The Democrat Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.
For those who are listening to the liberals propagating the fallacy that everything is "Bush's Fault", think about this:
January 3, 2007 was the day the Democrats took over the Senate and the Congress.
At the time:
The Dow Jones Industrials closed at 12,621.77.
The GDP for the previous quarter was 3.5%.
The unemployment rate was 4.6%.
George Bush's economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB GROWTH.
Remember the day...January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
The economic meltdown that happened 15 months later was in what part of the economy?
BANKING AND FINANCIAL SERVICES!
Unemployment skyrocketed, adding fuel to this CRISIS coming when gov't (among MANY other things) started dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!
Bush asked Congress 17 TIMES to stop Fannie & Freddie -starting in 2001- because their actions were financially risky for the US economy. He was IGNORED.
And who took the THIRD highest level of contributions (pay-off) from Fannie Mae AND Freddie Mac? OBAMA! (Let that sink in for a minute --gov't controlled companies that make campaign contributions!)
And who fought against reform of Fannie and Freddie? OBAMA and the Democrat Congress.
So when someone tries to blame Bush...REMEMBER JANUARY 3rd, 2007....THE DAY THE DEMOCRATS TOOK OVER!
Budgets are not passed by the White House, only submitted. They come from Congress -- specifically the House of Representatives, when Congress even bothers to take the effort to pass one -- and the party that controlled the House since January 2007 is the Democrat Party.
Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011.
In that first two years, they had to contend with George Bush, which caused them to compromise on spending, when Bush (somewhat belatedly) got tough on spending increases.
For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budgets.
And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009.
If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.
If Obama inherited anything, he inherited it from himself. In a nutshell, what Obama is saying is,"I inherited a deficit that I voted for and then I worked to expand that deficit four-fold since January 2009."