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Barack Obama – An Economic Disaster

How can anyone declare Barack Obama has been good for the American economy and still keep a straight face? The first person I can think of is Barack Obama himself. I’ll have to give him credit, he isn’t backing down from his economic message. Month after month, he is faced with a completely dismal report on jobs, unemployment, and other economic indicators, but he keeps hammering away. I am beginning to wonder if he actually believes we are in a real economic recovery.

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Barack ObamaAfter the jobs report was released yesterday, showing the economy added only 84,000 new jobs in June, Barack Obama had the nerve to say it was a step in the right direction. Sort of like when he said the private sector was “doing just fine”. He dropped the right direction line after the GOP caught wind of what he said and began a hammering campaign of their own. The President really wants to be able to tout his economic message, but because the economy refuses to cooperate with him, and continues to slump, he has to keep backtracking. The best he can come up with is that there is a lot of work left to be done. That much is true. I keep waiting to hear him blame George W. Bush again for his troubles with the economy.

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One would think that the economic message Barack Obama has to tell would be plain enough. That isn’t necessarily the case. I was talking to an older gentleman this week at work and someone (not me) mentioned the President and how poorly he was doing on the economy. The man in question was quick with his response. He wanted to know exactly how things were better when Bush was in office. This man is a customer of mine and I consider him at least a passing friend, but he completely glosses over what Barack Obama has done to the American economy.

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From The Economic Collapse, I want to share with you a few statistics. Some of these you may already know, but they are still worth looking at again. I am fairly sure Barack Obama would just as soon we ignore these numbers. These are only 10 out of 70 statistics that were used in the original post, but they are enough to get the picture.

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$3.59 – When Barack Obama entered the White House, the average price of a gallon of gasoline was $1.85.  Today, it is $3.59.

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30 – Back in 2007, about 10 percent of all unemployed Americans had been out of work for 52 weeks or longer.  Today, that number is above 30 percent.

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32 – The amount of money that the federal government gives directly to Americans has increased by 32 percent since Barack Obama entered the White House.

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60 – According to a recent Gallup poll, only 60 percent of all Americans say that they have enough money to live comfortably.

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61 – At this point the Federal Reserve is essentially monetizing much of the U.S. national debt.  For example, the Federal Reserve bought up approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.

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63 – One recent survey found that 63 percent of all Americans believe that the U.S. economic model is broken.

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71 – Today, 71 percent of all small business owners believe that the U.S. economy is still in a recession.

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56,000 – The United States has lost more than 56,000 manufacturing facilities since 2001.

$5,000,000,000,000 – The U.S. national debt has risen by more than 5 trillion dollars since the day that Barack Obama first took office.  In a little more than 3 years Obama has added more to the national debt than the first 41 presidents combined.

$15,734,596,578,458.59 – The U.S. national debt as of June 7, 2012.

When Barack Obama first took office, he had an agenda. A stimulus bill that amounted to many billions of dollars was passed. We were told this stimulus was exactly what the doctor ordered for the economy. Jobs would be created, lives would be changed, etc. After it became clear that the first stimulus didn’t work, the only thing for the President could do is blame Bush and declare we needed another stimulus package, again to the tune of hundreds of billions of dollars. He promised that by this time, the unemployment rate would be down to 5.6%. We can all see how that is working out for him.

We have had over three years of stimulus by Barack Obama and a Congress that was controlled by the Democrats for most of the time. All we have to show for it is a much larger national debt, no real budget, and a President who believes green jobs are the savior of the American economy. I am torn on how to decipher his actions. I don’t know if he is so convinced his liberal policies are the right direction that he can see no other path, or if he is so completely inept that he hasn’t a clue what the right direction is. I have a feeling it may be a combination of the two.

If Barack Obama has done so much in only one term, can you imagine what America will look like if he is given another four years to work his economic magic? I don’t think I want to find out.

About LD Jackson

LD Jackson has written 2053 posts in this blog.

Founder and author of the political and news commentary blog Political Realities. I have always loved to write, but never have I felt my writing was more important than in this present day. If I have changed one mind or impressed one American about the direction our country is headed, then I will consider my endeavors a success. I take the tag line on this blog very seriously. Above all else, in search of the truth.

  • More people went on Social Security Disability last month than were added to the workforce. If that isn’t a sign of a major problem I don’t know what is.

    • It certainly isn’t a good sign. I can’t believe so many people can’t see what is happening.

  • This election should be a slam-dunk for the Republicans but so far Roney has said little to covimce voters he has a better plan. I hope this changes soon!

    • With everything that has happened, all the bad news for the economy, etc., one would think Mitt Romney would be doing better than just holding his own. Yet, he is not. He may have been laying low for a while, but he needs to be making his move. If he sis back on his laurels, he will most certainly lose this election.

      • Keep in mind that at this time Reagan was still down double digits to Carter. It wasn’t until the debate, held a week before the election, that Reagan’s victory was won. So I would say that it’s a little early to expect everything to move in Romney’s direction. Having said that, the nation is much more divided than it was in 1980. Reagan won New York and California, a Republican winning anything in those states these days is unimaginable.

        • I didn’t realize that about Reagan and Carter. Regan must have done really well in the debate to come from a double digit deficit to such a landslide victory over Carter.

          • Gallup had Carter up 3 the week before the election, he lost by 9. Reagan was down by as much as 20 points once he secured the nomination. He won the election when in his closing statement at the debate he asked Americans “are you better off than you were four years ago?” The answer of course was no. Interestingly Romney has the opportunity to ask the same question and the answer will once again be no. The question is whether like Reagan, Romney will otherwise appear competent and have a clear vision. So far he isn’t following the Reagan playbook.

            • The references to Reagan are overdone a lot these days, but I wonder if that wouldn’t be a good thing for Romney to do. He should ask the same question at the end of one of the debates and make it clear he is referencing Ronald Reagan. Obama has been bold enough to attempt that himself, so that would help take that nonsense out of the game.

  • Sums it up quite nicely. Really like your new layout. Great job.

    • Thanks, Bunker. I was hoping everyone would like the new theme.

  • Congrats on your new site!

    As for Obama, he is a Marxist and a Keynesian. Therefore, his policies are doomed to fail.

    As for Romney, I am less and less eager to have him in the White House. What your customer/friend said about Bush is a common refrain. Bush was a big government, compassionate conservative surrounded by Wall Street financiers and Keynesian. His policies were doomed to fail as well, and their failure tainted the conservative brand. Moreover, his ineptness was the reason the electorate went for Mr. Hope and Change.

    Romney’s ObamaCare replacement ideas are stale and warmed over Affordable Health Act bromides. I think he’s more in the Bush mold than Bush, and he IS a Wall Street financier. If he gets elected, his ineptness will issue in more progressive disaster, I’m afraid.

    Wouldn’t it be better to have Obama presiding over the economic collapse when it comes, rather than Romney? Just asking.

    • Thanks, Sherman.

      Yes, Obama’s policies are certain to fail. History tells us that much.

      Romney, well, I’m not all that thrilled about him either. I’m not convinced he will be that much better than Obama, but I also know I can’t stand the thought of another four years of Hope and Change. The thought of that troubles me greatly.

      I understand what you mean about having Obama presiding over the economic collapse, but I worry about what his reaction will be, if that happens. With his complete disregard for the Constitution, I wonder if he wouldn’t stray that much further from its boundaries and drag the rest of the country with him.

      • We’re pretty much on the same page. The choice may boil down to the least of the evils.

      • Raymond V Banner

        Based upon his life history, his radical leftist history and positions, I think Obama would consider a failure or crisis as an opportunity to establish a more tyrannical government with he and his cronies in charge. Unfortunately the moral, social, cultural, and political situation in the United States has declined to the extent that this is a danger.

        • Exactly, Raymond. My distrust of Obama is so great that I fear he would be capable of doing just what you described. We can not afford to leave him in office.

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  • Tell you what…. I hate that I feel confident, but with a record like this, there is at least reason to be optimistic. I think the biggest challenge will be getting all the libertarians to drop their torches and pitchforks and turn out for Romney. Since the Roberts Subversion, we need every single American on the right side of commie to get out and vote. It’s our only hope.

    • There are many Libertarians who will not vote for Mitt Romney. Honestly, I wish I were as brave, but I am not.

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