Obamanomics at fault
President Obama’s unsuccessful economic policies are digging us deeper into a hole. His stimulus has failed. Growth is slow, our debt is astronomical, long-term unemployment/underemployment is the highest since the Great Depression. He keeps faulting Bush to avoid blame for the 46 months for which Obama has been responsible.
But the president brags about the 4.5 million jobs he’s created in the last 30 months. The proportion of the civilian working-age population actually working, at 58 percent, is the smallest since the Carter era. Three in 10 adults can’t find jobs and live with parents, highest since the 1950s. Six in 10 bachelor of science degree recipients under 25 are jobless or underemployed.
There are no soup kitchens or bread lines because unemployment benefits lasted 99 weeks. When they run out, people apply for disability benefits. One in seven are on food stamps, the highest on record; one in six citizens are now poor, the highest ratio in 30 years.
If you think this is bad, there is more. Taxes and government regulations are major problems for small business. They fear Obama will raise taxes to cover his spending spree. His 2013 budget like his other three had deficits exceeding$ 1 trillion. Is there any wonder why business start-ups, the engine of job growth, have plunged to an all-time low and job creators have no confidence Washington will encourage them to invest and create new jobs?
This is what Obamanomics has brought. Fiscal recklessness. Trickle-up poverty. Shared misery. Government social re-engineering. He’s definitely transforming America.