Re: How Low Can It Go?
 

[quote=CRedskinsRule;533872]Hey 70, how about doing this like Schneed does the salary cap, put the guesses in the 1st post, and update occasionally.

Also, if this is for all the money (so to say) can I put a real guess at 4950.

thx.[/quote]

Godd call.

Re: How Low Can It Go?
 

[quote=70Chip;533870]Update: The Dow was up today closing at 6875. The updated predictions are below. If anyone made a guess that I missed, please advise.

jsarno: 6000
Schneed10: 6000
Mattyk72: 6000
SmootSmack: 5800
djnemo65: 5500
GMScud: 5100
redskinjim: 5000
Saden1: 5000 (not out of the question)
FRPLG: 4900
Slingin Sammy 33: 4800
Buster: 3500
70Chip: 3499
[B]Chimpy: 1800[/B]
CRedskinsRule: 0
That Guy: < 0 (possibly)[/quote]

LOL!

Re: How Low Can It Go?
 

Yes. Chimpy is quite bearish which surprises me. Perhaps it's the Xanax tea.

Re: How Low Can It Go?
 

[quote=GMScud;533841]I've said numerous times around here that I don't get into political debate on the Warpath, however I don't hide the fact that I'm conservative.

This is a solid little write up on our new Tax & Spend Commander In Cheif:

[URL="http://www.cnbc.com/id/29434104"]Obama Declares War on Investors, Entrepreneurs, Businesses, And More - Money and Politics Blog - CNBC.com[/URL]

Edit: I'll throw my hat in- since several people are picking 5000, I'll go 5100 for sh*ts and giggles.[/quote]

I find it comical that those who generally oppose all forms of bailouts are now concerned with the well being of the market and find those who "speak" for the market credible. The irony is quite rich. What a shameless world we live in...you should be ashamed of yourselves Mr. Conservatives :nono:

I give you the shameless Larry Kudlow who likes his bailout:

[yt]Lkqb1pQrCcg[/yt]

Re: How Low Can It Go?
 

[quote=70Chip;533885]Yes. Chimpy is quite bearish which surprises me. Perhaps it's the Xanax tea.[/quote]

LOL, actually Chimpy's descent into nihilism has been well documented. Did you ever hear about the circus incident in which, at a particularily important show, Chimpy halted his acrobatics mid performance and, in a rage, began yelling at the crowd, "what is it all for!? Flipping for you peasants like a goddamn monkey in a cage, getting some money, only to die at the end! WHY! Money can't save you! There is no god! Burn it all down! Wake up you primates, life is meaningless!"

Chimpy was never the same after that. Some blame the drugs, but I blame the darkness that exists in his soul.

Re: How Low Can It Go?
 

[quote=dmek25;533813]sorry, but this is ignorance at its best:([/quote]
I'm sorry that you feel that way dmek25. I'm merely pointing out examples of "spreading of wealth".

Buisnessmen and investers alike want to make as much money as they can. I was just pointing out that the specter of the Obama administration, prior, and post election had people taking their money and running.

Remember my friend, there are no free lunches.

Lock me in at 3800.

Re: How Low Can It Go?
 

Are we guessing what it will close at or what it could drop to durn the day?

Re: How Low Can It Go?
 

[quote=firstdown;533976]Are we guessing what it will close at or what it could drop to durn the day?[/quote]

We are guessing where the bottom is for this cycle. In other words, if you were looking to buy shares of an imaginary DOW Index Fund, what would be the number you would give to your broker and say "If it falls to this level, get in there and start buying."

Re: How Low Can It Go?
 

[quote=70Chip;533995]We are guessing where the bottom is for this cycle. In other words, if you were looking to buy shares of an imaginary DOW Index Fund, what would be the number you would give to your broker and say "If it falls to this level, get in there and start buying."[/quote]

Ok, does anyone know when Obama is suppose to announce any more stimulas stuff?LOL

I'm going with 5700

Re: How Low Can It Go?
 

^

Well, he DID say our $13 a week in stimulus money in our paychecks should start showing up April 1.

[url=http://www.comcast.net/articles/news-general/20090221/Obama.Economy/]Comcast.net: Obama: People should see tax cut help by April 1[/url]

April 1, huh? How appropriate.

I believe this really IS a joke.

We'll be getting $13 less a week WITHHELD from our checks.

This will decrease the amount WITHHELD, but since they are not adjusting the tax tables for next year (that I have heard), this $13 less a week WITHHELD will result in all of us OWING more or receiving a reduced refund.

My advice, adjust that W-4 so it doesn't withhold this extra money, because your tax liability will not be changing when you file your 2009 taxes in about a year. If you don't you may:

1. End up paying in.
2. Kissing your refund goodbye (which may not be a bad thing since they won't be holding your money for a year, but why risk owing?)
3. Get bumped up to a HIGHER tax bracket since they are withholding less tax and increasing your net income.

We're getting scammed.

Worse yet, since this is a "refundable tax credit", those who fall short of owing less than the $400 or $800/couple in taxes a year WILL GET THE DIFFERENCE REFUNDED with a check. Yes, those not paying taxes will receive free money. It's not a tax credit, it's a welfare spending package.

[URL="http://www.talk2rusty.com/podcast/03queenclip.mp3"]Welcome to Obamalot[/URL]

Re: How Low Can It Go?
 

[quote=Buster;534150]^

Well, he DID say our $13 a week in stimulus money in our paychecks should start showing up April 1.

[URL="http://www.comcast.net/articles/news-general/20090221/Obama.Economy/"]Comcast.net: Obama: People should see tax cut help by April 1[/URL]

April 1, huh? How appropriate.

I believe this really IS a joke.

We'll be getting $13 less a week WITHHELD from our checks.

This will decrease the amount WITHHELD, but since they are not adjusting the tax tables for next year (that I have heard), this $13 less a week WITHHELD will result in all of us OWING more or receiving a reduced refund.

My advice, adjust that W-4 so it doesn't withhold this extra money, because your tax liability will not be changing when you file your 2009 taxes in about a year. If you don't you may:

1. End up paying in.
2. Kissing your refund goodbye (which may not be a bad thing since they won't be holding your money for a year, but why risk owing?)
3. Get bumped up to a HIGHER tax bracket since they are withholding less tax and increasing your net income.

We're getting scammed.

Worse yet, since this is a "refundable tax credit", those who fall short of owing less than the $400 or $800/couple in taxes a year WILL GET THE DIFFERENCE REFUNDED with a check. Yes, those not paying taxes will receive free money. It's not a tax credit, it's a welfare spending package.

[URL="http://www.talk2rusty.com/podcast/03queenclip.mp3"]Welcome to Obamalot[/URL][/quote]

Doofus.

The tax tables will not be adjusted but there are credits going into the tax code reflecting the $13 per week.

If you do your taxes right and take the credit, you won't have to give the $13 per week back.

Re: How Low Can It Go?
 

[quote=Schneed10;534222]Doofus.

The tax tables will not be adjusted but there are credits going into the tax code reflecting the $13 per week.

If you do your taxes right and take the credit, you won't have to give the $13 per week back.[/quote]

Hope you're right but I'm glad you trust the new President so much. He's been so honest thus far. :D

I got this info from a CPA.

Re: How Low Can It Go?
 

[quote=Schneed10;534222]Doofus.

The tax tables will not be adjusted but there are credits going into the tax code reflecting the $13 per week.

If you do your taxes right and take the credit, you won't have to give the $13 per week back.[/quote]

The more I hear from people with respect to taxes the more I am inclined to believe a large percentage of our population is [URL="http://abcnews.go.com/print?id=6975547"]clueless when it comes to taxes[/URL].

[quote]A 63-year-old attorney based in Lafayette, La., who asked not to be named, told ABCNews.com that she plans to cut back on her business to get her annual income under the quarter million mark should the Obama tax plan be passed by Congress and become law.

"We are going to try to figure out how to make our income $249,999.00," she said.

"We have to find a way out where we can make just what we need to just under the line so we can benefit from Obama's tax plan," she added. "Why kill yourself working if you're going to give it all away to people who aren't working as hard?"
[/quote]

EPIC FAIL!

Re: How Low Can It Go?
 

^

That sounds like borderline tax fraud.

They'll really close up shop when they hit $249,999? :D


Besides, if they paid attention in the final days of the election, Obama's $250K claim became $200K, then $150K according to Biden. :D

Re: How Low Can It Go?
 

[quote=Buster;534332]^

That sounds like borderline tax fraud.

They'll really close up shop when they hit $249,999? :D


Besides, if they paid attention in the final days of the election, Obama's $250K claim became $200K, then $150K according to Biden. :D[/quote]

No they don't have to close up shop but they could find ways of putting money away so it not considered income. They could by a car through their company instead of through their personal money thus reducing their income by that amount. I do have a friend who said last year he made right over $250,000 and that he does not see where he can make much more than that next year. He is planing on cutting back his hours some toward the end of the year so he does not jump into the higher tax bracket. I think this will become common with self employed people because why work harder to make $265,000 instead of $248,000 when all of that additional income will go toward paying higher taxes.

Re: How Low Can It Go?
 

[quote=firstdown;534362]No they don't have to close up shop but they could find ways of putting money away so it not considered income. They could by a car through their company instead of through their personal money thus reducing their income by that amount. I do have a friend who said last year he made right over $250,000 and that he does not see where he can make much more than that next year. He is planing on cutting back his hours some toward the end of the year so he does not jump into the higher tax bracket. I think this will become common with self employed people because why work harder to make $265,000 instead of $248,000 when all of that additional income will go toward paying higher taxes.[/quote]

The joke among the upper middle class types (dentists, architects, consultants, et al) is that they will be taking more time to work on their golf games going forward. "Dr. Beeper" from Caddyshack comes to mind:

"Just snake a tube down her nose and I'll be there in four or five hours. Testing now."

The achilles heel of socialism is that either God or evolution has made us selfish. Nobody is going to bust their ass so that some stranger can have health care. But, we will kill ourselves for the sake of our own pleasure - a bass boat, or an in-ground swimming pool, or a weekend in Vegas with Eliot Spitzer grade whores. This is why socialism is always on the edge of the slippery slope to totalitarianism. At some point you end up with a gun pointed at you and a voice saying, "You'll do it without the benefit of a bass boat!"

Re: How Low Can It Go?
 

I take it you guys are willing to consider taking a job that pays less to put yourselves in a lower tax bracket? You know, all in the interest of not paying more taxes that's going be used to help "losers" looking for a handout.

Socialism ≠ Communism. Socialism ⊂ Communism.

Re: How Low Can It Go?
 

[quote=saden1;534411][B]I take it you guys are willing to consider taking a job that pays less to put yourselves in a lower tax bracket?[/B] You know, all in the interest of not paying more taxes that's going be used to help "losers" looking for a handout.

Socialism ≠ Communism. Socialism ⊂ Communism.[/quote]

I wouldn't go that far, but I tell you one thing, I'm not too broken up about the income we'll be losing when my wife stops working in July.

One income is going to be a lot more advantageous when it comes to tax efficiency.

The moral hazard is real.

Re: How Low Can It Go?
 

[quote=saden1;534411]I take it you guys are willing to consider taking a job that pays less to put yourselves in a lower tax bracket? You know, all in the interest of not paying more taxes that's going be used to help "losers" looking for a handout.

Socialism ≠ Communism. Socialism ⊂ Communism.[/quote]

It's not our fault. Evolution has made us this way.

Re: How Low Can It Go?
 

I just wished that ever American had to sit down at the end of the month and write out a check to the federal and state to pay their taxes. This way its not hidden in each paycheck and people had to actually write out the amount and withdraw it over and over again from their check book. Now the goverment has the employeer do their dirty work and most people have no clue what they pay in taxes. All they care about is how much of a refund will they get at the end of the year. If they had to actually pay these taxes those refund checks they receive would start to look kind of small. I love when someone making 60,000 grand a year gets all excited at getting back $500 to $1,200 like they hit the jack pot. When I hear someone like that I look at them and ask them how much they paid in taxes. They usually get this dumb look on their face and say "I don't know". So who here knows what they pay in taxes each year without looking at you taxes or pay stub?

Re: How Low Can It Go?
 

[quote=70Chip;534432]It's not our fault. Evolution has made us this way.[/quote]

Are you sure it wasn't intelligent design??

Re: How Low Can It Go?
 

[quote=Schneed10;534419]I wouldn't go that far, but I tell you one thing, I'm not too broken up about the income we'll be losing when my wife stops working in July.

One income is going to be a lot more advantageous when it comes to tax efficiency.

The moral hazard is real.[/quote]

This moral hazard is always real for all married couples regardless of income and tax burden. Admittedly the dilemma is faced by the middle class more so than the rich (mostly have choice) and the poor (rarely have choice). I appreciate and support people doing the math, but I can't get behind the notion that people will stop working and purposefully try to lower their income in the name of tax efficiency as being rational.

The decision making starts at 250K.

Re: How Low Can It Go?
 

[quote=70Chip;534432]It's not our fault. Evolution has made us this way.[/quote]

You are absolutely right, Neanderthals had it coming.

Re: How Low Can It Go?
 

[quote=firstdown;534442]I just wished that ever American had to sit down at the end of the month and write out a check to the federal and state to pay their taxes. This way its not hidden in each paycheck and people had to actually write out the amount and withdraw it over and over again from their check book. Now the goverment has the employeer do their dirty work and most people have no clue what they pay in taxes. All they care about is how much of a refund will they get at the end of the year. If they had to actually pay these taxes those refund checks they receive would start to look kind of small. I love when someone making 60,000 grand a year gets all excited at getting back $500 to $1,200 like they hit the jack pot. When I hear someone like that I look at them and ask them how much they paid in taxes. They usually get this dumb look on their face and say "I don't know". So who here knows what they pay in taxes each year without looking at you taxes or pay stub?[/quote]

I do, state and federal, plus the parts, and I get irked every time i dwell on it. (and yes i think we could do with one less 22Billion dollar fighter every now as well as let a mouse or two or a whole species even (another one will pop up right?) meet its maker in San Fran.

Re: How Low Can It Go?
 

[quote=firstdown;534442]I just wished that ever American had to sit down at the end of the month and write out a check to the federal and state to pay their taxes. This way its not hidden in each paycheck and people had to actually write out the amount and withdraw it over and over again from their check book. Now the goverment has the employeer do their dirty work and most people have no clue what they pay in taxes. All they care about is how much of a refund will they get at the end of the year. If they had to actually pay these taxes those refund checks they receive would start to look kind of small. I love when someone making 60,000 grand a year gets all excited at getting back $500 to $1,200 like they hit the jack pot. When I hear someone like that I look at them and ask them how much they paid in taxes. They usually get this dumb look on their face and say "I don't know". So who here knows what they pay in taxes each year without looking at you taxes or pay stub?[/quote]

I do. $16,444 to the federal government in 2008, plus whatever for Medicare, plus whatever for social security, plus 4100 for real estate taxes, plus 2800 for Philadelphia wage, plus 5500 for PA state income. But I get your point, I'm a rarity, my mind is like the green screen from The Matrix except it's filled with cap numbers and dollar signs.

Re: How Low Can It Go?
 

Looks like the [URL="http://online.wsj.com/article/SB123630125365247061.html"]FDIC is no longer solvent.[/URL] It just gets better every day.

Re: How Low Can It Go?
 

[quote=firstdown;534442]I just wished that ever American had to sit down at the end of the month and write out a check to the federal and state to pay their taxes. This way its not hidden in each paycheck and people had to actually write out the amount and withdraw it over and over again from their check book. Now the goverment has the employeer do their dirty work and most people have no clue what they pay in taxes. All they care about is how much of a refund will they get at the end of the year. If they had to actually pay these taxes those refund checks they receive would start to look kind of small. I love when someone making 60,000 grand a year gets all excited at getting back $500 to $1,200 like they hit the jack pot. When I hear someone like that I look at them and ask them how much they paid in taxes. They usually get this dumb look on their face and say "I don't know". So who here knows what they pay in taxes each year without looking at you taxes or pay stub?[/quote]

I'm way too obsessed with $$ not to know what I paid in taxes. I was also pleased to get a nice refund this year as well. One of the few things I miss about living in Florida is no state income tax. However if you travel anywhere by car within the state you'll pay out the ass for tolls.

Re: How Low Can It Go?
 

[URL="http://www.thedailyshow.com/video/index.jhtml?videoId=220252&title=cnbc-gives-financial-advice"]This[/URL] is relevant to the thread, no? I love the money shot at the end!

Re: How Low Can It Go?
 

[quote=firstdown;534442]I just wished that ever American had to sit down at the end of the month and write out a check to the federal and state to pay their taxes. This way its not hidden in each paycheck and people had to actually write out the amount and withdraw it over and over again from their check book. Now the goverment has the employeer do their dirty work and most people have no clue what they pay in taxes. All they care about is how much of a refund will they get at the end of the year. If they had to actually pay these taxes those refund checks they receive would start to look kind of small. I love when someone making 60,000 grand a year gets all excited at getting back $500 to $1,200 like they hit the jack pot. When I hear someone like that I look at them and ask them how much they paid in taxes. They usually get this dumb look on their face and say "I don't know". So who here knows what they pay in taxes each year without looking at you taxes or pay stub?[/quote]


Just because I pay it through my employer doesn't mean I don't notice..it's pretty hard not to notice the ~$2400 cut the feds take every month. You ain't special Mr. Firstdown for paying it yourself every month, no sir.

Re: How Low Can It Go?
 

[quote=saden1;534595]Just because I pay it through my employer doesn't mean I don't notice..it's pretty hard not to notice the ~$2400 cut the feds take every month. You ain't special Mr. Firstdown for paying it yourself every month, no sir.[/quote]

My God man. You're one of those limousine liberals I've heard about. I mean, I could buy ma beer and ma pills for a whole year on what you give the government in one month.

Re: How Low Can It Go?
 

[quote=70Chip;534622]My God man. You're one of those limousine liberals I've heard about. I mean, I could buy ma beer and ma pills for a whole year on what you give the government in one month.[/quote]

No, I'm just Tom Daschle's chauffeur.


FYI, liberals embrace their liberalism with pride now. Much like the gays we done come out of the closet and flipped the script on all ya'll.

Re: How Low Can It Go?
 

[quote=saden1;534629]No, I'm just Tom Daschle's chauffeur.


[/quote]

lol!

I found this chart to be interesting (If the market ends up down 89% from it's all time high of 14,000, then our friend Chimpy will have made monkeys out of all of us) The slightly scary thing is that it took Dow 25 years to get back to the 1929 high. So, once the market bottoms, we may not see a 90's style rocket ride back to 10,000 (which I think is what many of us are assuming, I think). It may be a more uneven climb. When people say "if you're in it for the long term", "long term" may be the rest of your working years.

[B][B]The Dow and the Great Depression[/B][/B]




[B][LIST][*]The Dow peaked at 381.17 on 9/3/1929[*]Crashed on 10/28-29 falling from 301 to 230 or 23.6%[*]One year after the peak (9/3/1930) the Dow closed at 237.54, down 37.3% from its peak (vs. the 39% drop we saw as of yesterday's close from the 2007 peak)[*]Continued to slide until 7/8/1932 where it bottomed at 41.22, down 89.2% of its value over 2.5 years[*]The Dow did not cross above 381 again until 11/23/1954, over 25 years after its 1929 peak[/LIST][/B][IMG]http://media.cnbc.com/i/CNBC/Sections/News_And_Analysis/_Blogs/By_The_Numbers/__DAILY%20POSTS/081010%20Dow%20depression.gif[/IMG]

Re: How Low Can It Go?
 

This information is not new to me but I wonder what would happen to the DOW if we let companies go out of business instead of bailing them out.

Re: How Low Can It Go?
 

[quote=saden1;534634]This information is not new to me but I wonder what would happen to the DOW if we let companies go out of business instead of bailing them out.[/quote]

Just like how many licks it takes to get to the center of a tootsie roll tootsie pop - The world may never know

Re: How Low Can It Go?
 

[quote=Buster;533814]For reference:

[IMG]http://1.bp.blogspot.com/_orkXxp0bhEA/Sac1U-hIJjI/AAAAAAAAQRA/-aUtqLr9nr4/s400/090226-djia5sA.jpg[/IMG][IMG]http://3.bp.blogspot.com/_orkXxp0bhEA/Sac1U2N2bgI/AAAAAAAAQQ4/tc8h5LYfh88/s400/090226-djia5sB.jpg[/IMG]

[url=http://online.wsj.com/article/SB123604419092515347.html]Our Troubled Economy Is a Response to Barack Obama's Policies - WSJ.com[/url][/quote]

:lol: :lol: :lol: :lol: :lol: :lol:

Are you really being serious? Obama has been in office for ONE MONTH!!! Not even Bush was able to crash an economy after ONE MONTH!!!

How low can it go.............I'm gonna say 4000. This will be known as The Great Recession when its all said and done. Thank you Mr. Bush. Thank you for screwing this all up! And THEN leaving your screw up for someone else to fix. You are to kind!

Re: How Low Can It Go?
 

[quote=Miller101;534668]:lol: :lol: :lol: :lol: :lol: :lol:

Are you really being serious? Obama has been in office for ONE MONTH!!! Not even Bush was able to crash an economy after ONE MONTH!!!

How low can it go.............I'm gonna say 4000. This will be known as The Great Recession when its all said and done. Thank you Mr. Bush. Thank you for screwing this all up! And THEN leaving your screw up for someone else to fix. You are to kind![/quote]
why are you thanking Pres. Bush. Can we all please acknowledge it took both parties (the democrats in the congress and the republicans in the white house) to get us in this position. and also that a big part of this is a natural economic cycle? please?

Re: How Low Can It Go?
 

[quote=CRedskinsRule;534649]Just like how many licks it takes to get to the center of a tootsie roll tootsie pop - The world may never know[/quote]

That was a rhetorical question, [URL="http://www.foxnews.com/politics/2009/03/06/report-expected-job-losses/"]we actually do[/URL].

[quote]Construction companies eliminated 104,000 jobs. Factories axed 168,000. Retailers cut nearly 40,000. Professional and business services got rid of 180,000, with 78,000 jobs lost at temporary-help agencies. Financial companies reduced payrolls by 44,000. Leisure and hospitality firms chopped 33,000 positions.[/quote]

An economy built on consumption cannot withstand for long high unemployment. Once an economy collapses there is no quick fix, it takes years to start a successful business to re-employ the unemployment. Of course that all depends on investor confidence and the credit market, no one likes losing money and no one can start a successful business without being able to borrow.


The economy is organic, it can sustain damage, it can heal by itself, but I suspect applying an ointment, even if it's a [I]placebo[/I], is better than going all natural.

Re: How Low Can It Go?
 

[quote=Miller101;534668]:lol: :lol: :lol: :lol: :lol: :lol:

Are you really being serious? Obama has been in office for ONE MONTH!!! [/quote]

Have you noticed the market has ZERO confidence in his policies after the bailout...and it drops 200 points EVERY time he or his tax-cheat Treasury Secretary speaks? It's a reactionary downfall. With the President out trashing the economy daily, calling it a crisis to scare people into supporting his socialist agenda to get it pushed into law when it would not normally be accepted...and spreading the LIE that is "the worst economy since the Great Depression"...he is to blame for the current stock market crash. His big Government policies and his speeches are scaring investors.

It wasn't the worst economy since the Great Depression before, but we're heading there if mindsets in the White House do not change soon.

For the record, the worst economy since the Great Depression was during the Carter years with the sky-high inflation, interest rates and unemployment, with gas shortages. We may get there thanks to President Obama and this Congress, but it's a lie that we're already there.

Re: How Low Can It Go?
 

[quote=redskinjim;533201]i have a friend who has made a lot of money and is retired he says now is the time to invest.cause the market always comes back.[/quote]

yeah, the say at times like these the rich get richer, the poorer get poorer.

Im losing aprrox. 4k every 3 mos on my 401k. given that i am hesitant to throw any of my non-401k savings into the market. i really just dont know what to do right now.

should i take my savings and invest in some cheap but well known producing stock?

should i buy a new home (tax & penalty free as 1st time home buyer) by clearing out my 401k just so i dont continue to lose 3-4k every quarter?

im feel kinda screwed right now. i could have bought a house with no money down like every one else and have the fed bail me out b/c i dont know how to live within my means. But no, i played it smart, saved up enough to put 10-25% down so i wouldnt over-extend myself. now my 401k has been chopped in half and i am not in a good position to buy a home . . all these people who had no business thinking they could afford a home but did anyway may very well get "bailed out" . . . while i saved up only to have my life savings cut in half and still dropping.

i say the dow doesnt drop below 5800, no way it can go lower than that i hope.

go skins!!

Re: How Low Can It Go?
 

[quote=CRedskinsRule;534673]why are you thanking Pres. Bush. Can we all please acknowledge it took both parties (the democrats in the congress and the republicans in the white house) to get us in this position. and also that a big part of this is a natural economic cycle? please?[/quote]

Can we please acknowledge that the economy was going great until the Democrats took over Congress?

You should. It's a fact.