October 8, 2011

Clueless Commander in Chief

The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. -Thomas Jefferson

President Obama is clueless when it comes to the economy. He’s a Clueless Commander in Chief.

The U.S. received a body blow on Aug. 5 with Standard & Poor’s downgrading our credit rating to AA+ from AAA for the first time in history. President Obama owns this downgrade, but he’s not man enough to take that responsibility. All he can do is blame former President Bush, the Republicans and the Tea Party.

But when President Bush left office the national debt was 40.3 percent of GDP. With Obama’s added spending in 2009 it jumped to 53.5 percent, in 2010 to 62.2 percent and is estimated to rise to 72 percent of GDP in 2011. With the stimulus, cash for clunkers and more, Obama has increased the national debt by $4 trillion in just three years.

Everything President Obama does is based on his ideology and politics. With the Stimulus, which was an utter failure, Obama said "we've got to spend money to improve the economy." Yes, dear reader, I bet that's exactly what you do when you're broke. You go out and spend more money and then ask the bank to increase your credit card limit like the Obama administration did with the increase in the debt ceiling. It just makes no sense.

Obama also has blamed S&P. Granted, S&P has missed the mark on its ratings of the housing market in past years, but no one can disagree with them on stating that our government is spending more than it has.

S&P was just holding up the mirror. Obama needs to reflect upon his own hand in this mess and own up to it. He needs to stop the crazy Keynesian economics of spend, spend, spend. But he wants to continue the same insanity with his Jobs bill, which is simply Stimulus II with the same short-term construction jobs and favors for all the unions that was contained in Stimulus I, which failed miserably.

Obama likes to use the metaphor of “Bush drove the car into the ditch.” Well, Obama stepped on the accelerator and dug the car in deeper – so deep that that car is buried up to its rear axle. Mr. President – have you ever seen the Cadillac Ranch in Texas? Well, look at the photo below. That’s what you’ve done to our economy. Drove it deeper in the ditch, stalled it and buried it. And this Jobs bill is more of the same, but in reality it’s a political ploy you’re using for your campaign to beat up on Republicans. It’s all you have when you have such a dismal record.

                          Photo: Cadillac Ranch © Natalia Bratslavsky/Dreamstime.com                                 

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