So how has Obama done with the economy so far?
Tuesday, October 20, 2009
I guess that from Obama's perspective, he has done a great job so far. I suppose that it's only natural for a president to have a favorable opinion of himself and the quality of the job that he is doing. But from the point of view of Obama's constituents, the American people, what has Obama really done to help this country solve it's economic problems? The answer is nothing. In fact, he is making things worse.
He has presided over a massive expansion of the federal debt. By comparison, President Bush's deficit spending was peanuts. This expanded debt is having many unfavorable consequences for our country. We are hobbling the future of our children. We are risking virulent inflation. And his so-called stimulus plan hasn't helped at all. Unemployment continue to rise. I just read today that my home state of Nevada's unemployment rate is now 13.3%. And several other states are just as bad. I thought that Obama's stimulus bill was supposed to bring down unemployment, but since it was enacted, unemployment continues to rise, not fall as Obama promised it would. And I doubt that there is any end to this turmoil in sight.
Yet, in spite of already huge deficits, Obama continues to advocate more and more federal spending which will only add to the deficit and our national debt. Obama had better watch it before the Chinese and others stop buying our debt causing the already depressed value of our dollar to take a real nosedive. If that happens, there will be a financial calamity which will make last fall look like a picnic.
Then to top it off Obama says that he doesn't want to extend the Bush tax cuts when they expire. That is a very real recipe for disaster. If you think the economy is depressed now, just watch what happens when those tax cuts expire and the American people have less money in their pockets to spend. Great depression here we come.
The Republicans in Congress have got to pull out all the stops and fight Obama tooth and nail over his handling of the economy. The GOP cannot be seen to cooperate with a president who is destroying our country. I know they don't have much power, but the GOP can use stalling tactics to try to bottle up Obama's priorities in the Senate even though the Republicans have only forty votes. Then we have got to try to hold out until the 2010 elections when the voters can elect more Republicans who can stop Obama's agenda dead in it's tracks.
He has presided over a massive expansion of the federal debt. By comparison, President Bush's deficit spending was peanuts. This expanded debt is having many unfavorable consequences for our country. We are hobbling the future of our children. We are risking virulent inflation. And his so-called stimulus plan hasn't helped at all. Unemployment continue to rise. I just read today that my home state of Nevada's unemployment rate is now 13.3%. And several other states are just as bad. I thought that Obama's stimulus bill was supposed to bring down unemployment, but since it was enacted, unemployment continues to rise, not fall as Obama promised it would. And I doubt that there is any end to this turmoil in sight.
Yet, in spite of already huge deficits, Obama continues to advocate more and more federal spending which will only add to the deficit and our national debt. Obama had better watch it before the Chinese and others stop buying our debt causing the already depressed value of our dollar to take a real nosedive. If that happens, there will be a financial calamity which will make last fall look like a picnic.
Then to top it off Obama says that he doesn't want to extend the Bush tax cuts when they expire. That is a very real recipe for disaster. If you think the economy is depressed now, just watch what happens when those tax cuts expire and the American people have less money in their pockets to spend. Great depression here we come.
The Republicans in Congress have got to pull out all the stops and fight Obama tooth and nail over his handling of the economy. The GOP cannot be seen to cooperate with a president who is destroying our country. I know they don't have much power, but the GOP can use stalling tactics to try to bottle up Obama's priorities in the Senate even though the Republicans have only forty votes. Then we have got to try to hold out until the 2010 elections when the voters can elect more Republicans who can stop Obama's agenda dead in it's tracks.
1 Comments:
Interesting, you were able to write a mini essay on Obama's presidency, and since you choose to compare it to Bush's dictatorship ( I mean presidency) I urge you to look at how he left the country. Even his own criminal Republican's wanted to distance themselves from him. Obama can't do any worse. Economics 101. Please educate yourself.
commented by 
Anonymous, November 1, 2009 at 5:38 PM
Anonymous, November 1, 2009 at 5:38 PM
