What the facts show in financial mess

These were the facts on June 12, 2007:

The stock market was at an all-time high and Americans 401ks as well. Unemployment was at a 25-year low. Federal tax revenue was at an all-time high. Income taxes at an all-time low.

The federal deficit was down over 50 percent from the prior year. Interest rates were down. Home evaluations had skyrocketed in the past four years. Our economy was roaring. Gas was $2.35 a gallon.

In 2004, President Bush asked for more regulations and more government oversight of Fannie May and Freddie Mac.

Barney Frank stated that these institutions were in good shape and Franklin Raines, Steven Ashley and Danial Mudd, the CEOs, were doing a creditable job.

In the November '06 election, the Democrat Party took control of Congress, both the House and the Senate. They failed to act on Bush's requests.

Bush's policies haven't changed in the last year and a half.

The only change has been the Democratic takeover of Congress. All appropriation, or spending legislation, must occur in the House and be passed in the Senate.

It is either vetoed or signed into law by the president. Bush's mistake has been not to veto these huge spending bills passed by the Democrats. President Ronald Reagan vetoed 31 bills sent to him by the Democratic Congress.

The change we need in America is to vote out the tax-and-spend Democrats - i.e., Dick Durbin and Barack Obama, who are doing a poor job of representing the people of Illinois.

We need term limits.

Bob Henderson

Arlington Heights