The Whole Truth about Obama Economics
By JB Williams
Barack Obama and Joe Biden want to run their 2012 race for re-election against George W. Bush rather than Mitt Romney, the person they have blamed their entire four year term on every day since assuming office in January 2009. According to Obama and Biden, you should re-elect them even though they claim no responsibility for anything that happened during their first term.For the average Obama supporter who doesn’t know any better, they will get away with that tactic, just like they got away with running a totally unknown individual with a completely blank résumé in 2008, winning the election with nothing more than an empty campaign slogan about hope and change.
Unlike 2008, when many Americans wanted to “make history” by electing America’s first “black” president without even picking a black candidate, the 2012 election will be based upon the success or failure of the first Obama-Biden term. The people now have something tangible to judge these leaders upon, after four years of experience under their command.
Speaking strictly about economics today, America has not experienced worse fiscal leadership since Jimmy Carter and as a direct result of Obama-Biden economic policies, the country is actually worse off today than it was at the peak of the Great Depression.
The numbers simply do not lie, even though politicians hungry to retain power and their surrogates in the press do. Strictly based upon official numbers, there can be no missing the disastrous economic results of Obamanomics 101 and it doesn’t require an Ivy League economics PHD to see it.
First, the story can be told with two basic numbers. During the four years of Obamanomics, our Federal Government has grown 20.9% from 2009-2012, 24.8% through 2013. That’s a very important number as it is directly responsible for more than $16 trillion in U.S. debt, more than a 60% increase in our national debt since Obama-Biden took office.
The second number is the average annual GDP growth rate under Obamanomics, which is .58% (less than 1%). In short, Obama and Biden grew the federal government and federal spending at a rate ten times the rate of economic growth during the same period. That my friends, is not just unsustainable, it is entirely insane and unforgivable.
Here’s a Clear View
Obama and Biden have grown the federal government at an average annual rate of 5.23% - during a period that the U.S. GDP grew only an average of .58% per year. They grew government at a rate ten times that of economic growth. Obviously, their stimulus efforts failed to stimulate anything other than government growth and the national debt.
A Deeper View
The most obvious result of this insane economic strategy is our skyrocketing debt. Equally obvious is the absence of private investment in the U.S. economy and a steadily rising unemployment crisis, under-reported in an unemployment rate that ignores twice as many people currently without gainful employment.
What’s not so obvious is that the only real sector making up the .58% growth in GDP is public sector growth, through new jobs and contracts with the federal government. The federal government is now by far the single largest employer in the United States. Via both direct employment and contract employment, no enterprise in America employs as many Americans, almost all of them union members.
That also explains how the government workers unions have become the most powerful political force in America today, giving 99% of political donations to the Democratic Party, leftist causes or Democrat politicians. It is a self-perpetuating political force – money taken from taxpayers, most of whom are conservatives and Republicans, spent by the government to employ union workers who pay union dues that end up funding the Democratic Party which continues to grow government under the guise of stimulating the economy.
Yet, in the real numbers presented here, we can see that trillions in so-called stimulus funds have only stimulated the rapid growth of government, benefiting labor unions and Democrats, and the demise of America’s once free-market economy.
Trusting Our Eyes and Instincts
As Americans, we live in a world where we think all of the bad things happening in the world cannot reach us. We also live in the information age which largely amounts to a swirling sea of disinformation, a world in which truth is usually obvious, but often stranger than fiction.
One does not need to hold a PHD in economics to understand that you cannot spend money you simply do not have, or grow government without killing off the goose that lays the golden egg, private sector growth. The public sector produces nothing. An economy lives or dies on private sector productivity alone.
But with more than 40% of the U.S. population now living on federal assistance and an increasing number employed by the federal government, it is very difficult to imagine the electorate voting to reign in the runaway Fed when that will have a direct negative impact on their own economic well-being.
The Final End
Obama’s 2013 budget is the worst of all. After holding back on 2012 government growth due to the election cycle, their 2013 budget explodes in federal spending and government growth. In the end, Americans should be learning through this experience that free-market capitalists do not invest in wealth redistribution, the common modern name for Marxism. This explains why despite trillions in so-called stimulus spending, the economy is not rebounding at all, nor will it.
When the two largest business owner associations in the country were recently surveyed, over 50% said they would not start a business today, over 60% said they would not invest in any other business today and the Wall Street Journal is reporting this morning that a record number of business owners are trying to sell their businesses before Obama-Biden 2013 tax hikes take effect. When asked why, they all gave the same one word answer, Obama…
Beware… Before the federal government became the single largest employer in America, over 80% of all jobs in America were created by small privately owned businesses.
Not only is Obamanomics totally unsustainable, it is suicidal, driving America off the financial cliff and past the point of no return.
In contrast to the Great Depression when we manufactured our way out of economic collapse with two wars, Obama has not only destroyed the economy, he has done so while we already had a record level of war spending, further outsourcing manufacturing, and confiscating control of private sector industries, destroying the private sector mechanisms needed to work our way out of financial crisis.
They are NOT Inept
Barack Obama is the same empty suit with a blank résumé that he was the day he decided to run for President. Joe Biden is the same village idiot that he has been all of his miserable life. These two men are not responsible for any of this and they tell you so every day. Everything is Bush’s fault, or the fault of someone in their cabinet, if the people happen to catch on to something and bite back for a moment.
It is the people who surround Obama, the people who made Obama from thin air, who are running this country into the ground and it isn’t because they are inept. They see their policies of wealth redistribution as so successful that they want to up the ante in a second term.
In their eyes, they are hugely successful. This is due to the fact that their goals are very different from that of the average American. Their goals are wholly anti-American, focused upon reducing America to an even playing field with the rest of the world, ending American supremacy and melding the United States into a global commune under a One World Marxist Government.
In light of that goal, they have indeed been hugely successful in forcing American citizens into a financial corner from which most will gladly vote for global Marxism as opposed to starvation.
But for the average America who still believes in sovereign American superiority, they are living in a nightmare. Everything Obama and Biden have done to fundamentally transform America into something it was never intended to be has resulted in a huge failure of unparalleled proportions.
For Ye Liberals
What you need to know is something that every conservative business owner and investor has known all along. The road you have set this nation on is unsustainable and in the end, it is you who will pay the greatest price in loss of freedom and free-stuff.
Growing government at a rate ten times that of our economy is akin to you growing your household spending at a rate ten times that of your household income. It ends in a crash. If you delay the day of reckoning by borrowing to cover up your losses until you can’t borrow anymore, the crash is much bigger than it had to be originally.
Until a majority of American voters take a full grasp of this inescapable reality, the country and its people will remain on the path of hope for no change. I don’t care how many free cell phones Obama gives you, the end is near. We told you that in 2008 and the numbers of the first Obama term now unequivocally confirm it.
You can learn now the easy way, or learn later the hard way. Sooner or later, you will have to learn…
Electing Romney and Ryan are not an automatic fix. We are in a very deep hole here. But it does represent an opportunity to begin addressing these things and putting fixes in place. No such opportunity can exist under a regime focused on destroying America for benefit of the global commune.
Blame anyone you want for what happened before today. But what happens next in America is on the head of every American voter, no matter their partisan affiliations. What happens next is up to you.
JB Williams
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