July
31, 2009
The Obama Depression
Yesterday,
Obama announced that the recession had ended. Obama claims that his Porkulus spending
bill has "stopped the freefall." Good news, right? Wrong! All it means
is that we have hit rock bottom. This is going to be a full-blow depression. As
Obama made his ignorant statement, unemployment figures were released showing
an "unexpected" jump with another 584,000 people out of work. Michigan
has hit almost 16% unemployment thanks mostly to Obama bankrupting the American
auto industry.
It is widely expected that the GDP report will show that the
US economy shank "only" by 1.5 percent. Well, after someone is starved
to death, they stop losing weight, too. When you jump off a building, is it good
news that you have stopped falling when you hit the street?
Another question
comes to mind. If Obama's largest spending bill in history has "fixed"
the economy after reporting that only ten percent of the "stimulus"
money has been used, why did he need to spend the other $700 billion? The truth
is that the money spent so far has not stimulated anything except the greed of
the democrats.
What happened is that Obama's approval poll numbers have sank
to about 48%. That's a 30 point drop in six months. That's a freefall that was
faster than the two years it took the democrats to create this economy; the economy
that Obama created when he signed on as a senator in 2004 to filibuster a bill
that would have saved Fannie Mae which the democrats were looting. No, Barack
Hussein Obama, this is not the economy you "inherited" it is the economy
you created. So, now he tries to pump up his popularity and ego by saying that
the recession has ended; as if his words simply change reality.
What Obama isn't
telling you is that this is the start of the new Great Depression. The democrats
can't spend trillions upon trillions of dollars that don't exist without hyper-inflation.
It's coming. Remember, Obama and the democrats were pondering a second "stimulus"
bill. Fortunately, they got a clue since their phones are still ringing with angry
voters and polls showed they were going to lose big-time in 2010. They even had
to shelve ObamaCare.
Also, we need to hear the new unemployment numbers. It
will be in double digits. The economy can not be better when in the middle of
summer even more are unemployed during a season that traditionally has full employment.
Hotels are vacant. Airlines have far fewer passengers. Restaurants are empty.
Businesses are closing. Tax revenues are down.
Taxes are higher and tax revenues
are lower. Democrats can't understand that higher taxes cause lower revenue. Contrary
to Obama's campaign promises and his current lies, everyone is paying more in
taxes with still higher taxes yet to come. They didn't need to spend a dime. All
they had to do was cut their pork barrel spending and lower taxes. The economy
would roar back to life.
Go ahead, Obama; tell everyone how rosy things are.
Then explain why you need to raise taxes to pay for your economy. The only question
is what's left to tax. When there's no new business, there's nothing new to tax.
Taxing the few surviving businesses will only insure that they too will be out
of business due to the economy Barack Hussein Obama created and owns.
TLG
