The Democrats were in the majority so they are the cause of the economic problems.

As this debate is, as of yet, thoroughly undefined, I will take this opportunity to clarify my position and the general topic at hand. I intend to prove that the Democratic Party of the United States, as an institution and not merely the collection of senators and representatives that constitute it today, is responsible for the current economic crises. This is not to say, however, that they are solely independent catalysts for the meltdown, but rather that they were the sleeping watchmen during Republican domination of Congress and they were the foolhardly laissez-faire decision makers when they held power. I will demonstrate that the Clinton administration laid the groundwork for the housing bubble and the ensuing Democratic members of Congress sat idle as the Republican government deregulated the economy to the point here such an unfortunate turn of events became not only likely, but inevitable. While I intend to prove that it is the pedigree of the Democratic party to be inattentive economic stewards. It begins as far back as Franklin D. Roosevelt and his blind lavishing of American tax dollars on an economy with no sort of oversight. What's more, the New Deal created Fannie Mae; one of floundering banks in the current economic crises. Between 1969-1971, the Democratic Congress further shaped and sculpted Fannie Mae into a government entity and created Freddie Mac, the other half of the terrible twosome. At the same time, painful and wide-spread stagflation crippled the U. S economy, which led Congress and President Carter to further deregulate many aspects of the economy. The Democratic majority of the House in the 99th Congress, and a dual majority in the 100th and 101th sessions facilitated and orchestrated the Savings and Loan crises by a widespread deregulation of the economy which, in the end, cost the taxpayer almost $125 billion. A pattern emerges. Guess who held the majority for the first four years of the 90's, as America was once again in recession? But by far the most serious mistake the Democrats made was heralded by Bill Clinton. In his noble quest to give every Joe Schmo a home, he encouraged, aided and mandated banks to take on risky mortgages. So our housing bubble begins. By stacking the banks' books with high-risk occupants (today known as 'toxic assets') Clinton set the banks up for failure, for these occupants soon defaulted on their homes and left the banks with worthless homes that no one wants to buy. Perhaps the current Democratic majority did nothing to orchestrate the crisis, albeit many are responsible for allowing the regulation to occur during the Clinton and Bush administrations and others are responsible for not pushing for more regulation now. The fact of the matter is that there have been many Democratic majorities in Congress and they have doomed the American economy to failure at every step of the way. It is undeniable to say that everyone, regardless of party, is to blame here. I believe I have argued very effectively that the Democratic party, when given any sort of power in Congress has used their pulpit to deregulate the economy and these decisions have led to many recessions and crises, including this one.