Congress has been forced to lift the US debt ceiling again. Russia’s prime minister compared the U.S. to parasites. Unemployment is sky high and regardless of the Stimulus, the economy remains lethargic. As the economy deteriorates, Democrats are talking tax hikes at every corner, and they want to spend even more.
Bloomberg said on Tuesday the government may consider another Stimulus.
Obama and most of his party colleagues work, live and move within the political class. There is an inbred trait among socialist progressives—that government is the answer to all man’s woes.
Democrats controlling Washington for the first two years the president was in office funded government jobs, the only kind they really know how to create. In February, 2010, The Washington Times reported the Obama administration said government employees would grow to 2.15 million employees in a single year—“ topping 2 million for the first time since President Clinton declared that ‘the era of big government is over’ and joined forces with a Republican-led Congress in the 1990s to pare back the federal work force.”
Federal jobs tend to go to federal cronies—there’s even a generous recruiting bonus if you fit the requirements for pushing paper in Washington. The taxpayer funds those federal jobs far into the future, complete with healthcare perks, pension contributions and numerous other benefits.
Democrats are pushing draconian regulations on energy—Obama kept his promise our utility bills would “skyrocket.” Those regulations will cost every consumer rich or poor. In some states like Florida, rates have gone up just in anticipation of those regulatory measures.
Obama and his party also passed the Lilly Ledbetter Act to ensure women aren’t discriminated against. Now employers can get sued over something they did 20 years ago. Select groups of attorneys are probably happy over this one.
Meanwhile Democrats rammed through the Patient Protection and Affordable Care Act (ObamaCare). The legislation is basically a tax act and a cost shifting mechanism mandating taxpayers to provide healthcare for anyone who doesn’t have it.
During the 2008 campaign, Obama was portrayed by his strategists and various legacy media shills as an economic wizard.
After the election, outlets like MSNBC noted Obama would seek to save or create 3 million jobs. People bought into that fiction—“save” a job is a hard to prove proposition. It’s a catchall term only a politician seeking votes would use.
Despite Democrats’ quantitative easing in 2011—to the tune of roughly $600 billion—not much has changed for the better.
Credit is tighter, food and utility prices are higher and jobs are scarce. Americans have already been told that “affordable” health care act will push our premiums even higher. Medicare Advantage seniors have already seen their funding cut by Democrats, a fact media leave out when they are talking about GOP budget cuts.
As average households cut corners and try to save meager amounts, Democrats are obsessed with tax hikes from any and all quarters.
One economist told Bloomberg, “Not only did quantitative easing two not help the economy, it actually hurt it by pushing up prices and eating into real activity.”
In October, 2008, the Associated Press said, “Democratic presidential candidate Barack Obama said Thursday that his rival John McCain is out of touch with the economic struggles of Americans and doesn't understand that there's nothing more fundamental than a job.”
The US economy is in tatters. Government economic wizardry has not worked, and nor will another Stimulus.
(Commentary by Kay B. Day/August 3, 2011)
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