“God grants liberty only to those who love it, and are always ready to guard and defend it.” ... Daniel Webster ...
These posts will reflect my personal opinions, and views, of the world in which we live from, of course, the viewpoint of a conservative "Southern American".
Sunday, December 08, 2013
Obama's Deliberate Destruction of the Economy ... Alan Caruba
Obama's Deliberate Destruction of the Economy
"The budget should be balanced, the Treasury should be
refilled, public debt should be reduced, the arrogance of officialdom should be
tempered and controlled, and the assistance to foreign lands should be
curtailed lest Rome
become bankrupt. People must again learn to work, instead of living on public
assistance."~ Cicero 55 BC
What was true for Rome is true for America. President Obama
may know little about history and less about economics, but he is relentlessly
destroying America and has been since he first took office in 2009.
In September, the Gallup polling organization, reported that
“Americans’ trust in ‘the American people’ to make judgments about political
issues facing the country has declined each year since 2009 and, at 61%, is
down nearly 20 percentage points from its recent peak in 2005. Still, that
exceeds the 46% of Americans who trust the ‘men and women…who either hold or
are running for public office,’ which is one point above the historical low
“The results are based on Gallup’s annual Governance survey,
conducted Sept 5-8. The same poll found that American’s trust in the federal
government to handle domestic and international problems, their trust in the
news media, and their trust in the three branches of the federal government,
and in state and local governments are all at or near historical lows.”
In the end, the primary currency of government is the trust
people put in its ability to respond to the problems they encounter in their
As of October, more than ninety million Americans were out
of work. The data the federal government publishes is not trustworthy. It is
manipulated for political gain. By October, even the Bureau of Labor Statistics
had to admit that 90.6 million Americans over the age of 16 were not in the
labor force--an all-time high.
Writing in Investor’s Business Daily, Betsy McCaughey, a
former lieutenant governor of New York, noted that “After four and a half years
of the Obama presidency, an unprecedented number of Americans have given up
looking for work, wages are stagnating, low-wage earners are suffering most and
the U.S. is fast becoming a nation of part-time workers.”
An October CNS News article reported that “Americans who
were recipients of means-tested government benefits in 2011 outnumbered
year-round full-time workers, according to data released this month by the
Census Bureau. They also out-numbered the total population of the Philippines.”
The figures worked out to about 1.7 people getting some form of means-tested
government benefit for every one person working full-time year round.
In September, CNS News reported that “A record 23,116,928
American households were enrolled in the federal government’s Supplemental
Nutrition Assistance Program (SNAP)---AKA food stamps---during the month of
June, according to data released this month by the Department of Agriculture.
That outnumbers the 20,618,000 households that the Census Bureau estimated were
in the entire Northeastern United States as of the second quarter of 2013.”
Also in September, CNS News reported that “During the four
years that marked President Barack Obama’s first term in office, the real
median income of American households dropped by $2,627 and the number of people
in poverty increased by approximately 6,667,000, according to data released by
the Census Bureau. The record total of approximately 46,496,000 people in the
United States who are now in poverty, according to the Census Bureau, is more
than twice the population of Syria,” a nation that has lost 100,000 people in
its civil war.
“In 2008,” the CNS News report noted, “the year Obama was
elected, people in poverty represented 13.2 percent of the national population.
In 2012, they represented 15.0 percent of the population.” And, in 2012,
Americans either went to the polls or stayed home sufficiently to reelect
Obama. Obama supporters in effect voted to continue the nation’s poverty rates.
In late January, the Federal Reserve released data that
revealed that its holdings of U.S. government debt had increased to an all-time
record of $1,696,691,000,000 as of the close of day. The Fed’s holdings of U.S.
government debt had increased by 257 percent since President Obama was first
inaugurated in 2009. It is the single largest holder of U.S. government debt.
China is the largest foreign holder of this debt.
“The misery is not going to end soon,” wrote Mort Zuckerman,
the editor-in-chief of the U.S. News and World Report, in a July Wall Street
Journal commentary, noting that the economy represents “the weakest gross domestic
product (GDP) growth since World War II. This anemic growth is all we have to
show for the greatest fiscal and monetary stimuli in 75 years, with fiscal
deficits of over 10% of GDP in four consecutive years.”
Over the past five years, the U.S. spent $3.7 trillion on
welfare. That includes approximately 80 different means-tested poverty and
welfare programs. That figure is nearly five times greater than the combined
amount spent on NASA, education, and all federal transportation projects over
You don’t have to be an economist to see that Obama embarked
on a deliberate program to impoverish as many Americans as possible since
taking office in 2009. If this is not a cause for impeachment than nothing is,
but he will not be impeached. Instead, he will continue to attack all aspects
of the economy. Obamacare is the ultimate example of this.
Alan Caruba's commentaries are posted daily at "Warning Signs" and shared on dozens
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