The United States' climbing national debt could drag the country into a "double-dip recession," President Obama warned in an interview with Fox News Wednesday from China. Geez Mister President do you think so? Well what are you doing to reverse this Mr. President?
For starters in your first year you quadrupled the largest budgetary debt ever, $1.417 Trillion Dollars. You “rushed” a $700 Billion Stimulus bill through to spur the economy and reduce unemployment below 8%. Fact is no stimulus created and Unemployment at 10.2% and rising.
Obama’s biggest priority is jamming a $1.0 to $1.5 Trillion Healthcare takeover down Americans throats who majority does not want and 80% happy with HC as is. US Government has racked up a grand total of Social Security and Medicare unfunded liabilities of around $106.8 TRILLION. The Post office is insolvent and lost $4B this year. Add on the drain of Cap and Tax that will cost families an extra $1,761 on their average annual utility bill and wreak havoc on jobs in the business sector.
But surely the President has a forward plan to reduce spending? Wait, U.S. Posts $176.36 Billion record deficit for October. This kicks off FYE 2010 by posting its largest ever October budget deficit. At that rate we are looking at a $2.1 Trillion dollar deficit in 2010. That comes on top of today’s news that the US Deficit has surpassed $12 Trillion for the first time.
And just last week Obama announced a “job’s summit” in December to talk about creating jobs. Well a year later I hope anyone advising Obama is locked out of that Summit. But I suspect all the usual friendly Union, Takeover Co Mgmt., Wall Street and pro left interests will participate. For starters please address the massive job loss that Obamacare and Cap and Trade will produce. Spare the Americans another 1 Million saved jobs when the fact is 4 Million jobs were lost in 2009. End of day this jobs summit will be as productive as the beer summit.
At this point when it comes to really wanting to cut the deficit and create jobs it is time to put the brakes to these flawed and failed policies. Smart money say’s Obama will forge forward with his Marxist socialist agenda. Never having run a business or Government all he has to fall back on is conceptual ideas and he has surrounded himself with? Well we know all too well about his czars and White House appointees. Peruse the White House visit list if you want more clarity on who the Obama administration is listening to.
I have come to the conclusion that Obama is naïve, incompetent, disingenuous, counter productive, misguided and is demoralizing the working class taxpaying American that has made the United States of America the greatest free country in the world. But if Obama keeps inflicting epic budget deficits ripping apart capitalism and true democracy barreling down the road to socialism and tyranny. Color me skeptical at some point for lack of any counter logic or factual data this train wreck is self induced. The good news is it is just 43 days until 2010.