While the President and his pals were partying, the country was dealing with an unprecedented economic crisis. Barack Obama is like a modern day Nero, fiddling while his country is burning. His administration barely survived a default crisis by cobbling together a lame deficit reduction package which only slows down spending growth, but does not reduce it. The response from Wall Street has been toxic. The market has declined for nine days in a row, for the first time since Jimmy Carter was President. In fact, Obama is challenging Carter for the title of “Worst President in American History.”
In the late 70’s, Carter gave us historically high inflation and interest rates. Today, President Obama is delivering historically high levels of debt and poverty. In fact, it was announced yesterday that a record 45.3 million Americans are now receiving food stamps, approximately 15 percent of the country.
While the unemployment rate did decline to 9.1 percent, the improvement was due to more people becoming frustrated and leaving the work force altogether. In July, there were 38,000 fewer Americans actually working than the month before. These “discouraged” workers now total 1.12 million Americans.
Other aspects of the economy are equally disturbing. The housing industry is in the doldrums, the highly touted new GM vehicle, the Volt, sold only 125 vehicles last month. Americans are struggling to pay for higher gasoline prices with wages that are not increasing. Millions of other Americans have no income at all to pay for increasing inflation at the pump and at the grocery store.
Many of our seniors are living paycheck to paycheck, which is why it was so reprehensible that President Obama threatened to withhold their checks during the debt ceiling debate. This created unnecessary anxiety for those who paid into a system that has been corrupted by greedy politicians. Even if no deal had been reached, President Obama had plenty of money available to pay for essentials such as social security and military pay.
Instead, he threatened to withhold these payments for strictly partisan reasons. He was playing politics with the lives of our seniors. Now, he is literally playing with his celebrity buddies while our economy is on life support.
He will soon embark on a bus tour to try to convince Americans in the Rust Belt that things are better than they seem. Americans are not going to buy his baloney. Polls show his approval rating mired in the low 40 percent range. He is losing to an unnamed Republican in a presidential match-up poll.
The crowds are no long fainting at his speeches. If they are fainting it is because of the dangerous impact of his policies. More Americans are planning to put a stop to his party train in November of 2012. Like his ideological soulmate Jimmy Carter, Barack Obama will only have one term to play with, thank God!
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