By Michael Master
According to the most current USA/Gallup/CNN/AP polls, the approval
rating for Obama by all adults … not just voters as measured by
Rasmussen … has fallen to an all time low of 42%. Disapproval for
Obama is at 58%.
Liberals continue to try to label those who oppose Obama as racists.
So that means that 58% of Americans are racists according to liberals.
According to the IRS, the top 1% of wage earners in America account
for 20% of the income in America and account for almost 40% of all the
income taxes. Yet, Obama says that the the top 1% are not paying
their “fair share.”
The top 25% of wage earners account for 60% of all the income and
account for almost 85% of all the income taxes. The top 50% account
for almost all the income taxes while the bottom 50% pay almost
nothing. About half of all adult Americans pay no federal income
taxes.
Federal income taxes are only a quarter of the total taxes paid by the
average American worker when all the local, product, property, sales,
federal, gasoline, airplane ticket, phone, etc taxes are added
together. The combined spending by local and federal governments is
close to 50% of GDP.
This administration has doubled government spending for discretionary
items in 2 1/2 years and never produced a budget for Congressional
approval to do it. The increases are $ 700 billion per year. All
of it has been done by “continuing resolution” which circumvents the
law that states all federal spending legislation must include the
source of the funds for the spending.
Federal government spending increased from 18% (including Iraq) of GDP
to 24% of GDP since Democrats took control of Congress in 2007. The
results of all that spending are no growth to GDP when inflation is
considered (probably negative growth in the 3rd quarter), 9.2%
unemployment, a continuing slump in housing demand, and a $1.75
Trillion government deficit (the deficit of the Republican Congress of
2006 was only $160 billion and unemployment was below 6% before the
Democrats took control of Congress in 2007).
Net: the failed policies of the Democrat Congress of 2007 to 2011
caused practically all the increases to the deficit and to
unemployment. Obama exacerbated the problem. He is the only
president to lack both executive experience and military experience.
Since the leaders in the Republican party are RINOs, the only
challenge to Obama and Democrats has been the Tea Party.
When granted the stimulus money, Obama promised in 2009 that he would
not let unemployment rise to more than 8% from 7% in 2008. The
Democrat controlled Congress gave him the money but he failed to
deliver on his promise. Unemployment increased to more than 10%.
Why? Because he spent the money to repay political favors to the
SEIU, NEA, auto unions, GE (NBC and MSNBC), banks, and for service
oriented projects … rather than spend it to buy products made with
USA components. Products made in the USA have long supply chains for
maximum impact on the USA economic multiplier effect. Obama used the
money for financial bail outs, for more government employees, and for
services rather than to buy products made with USA components.
The price for gasoline has increased from $1.87 per gallon when Obama
took office to a current average of $3.71 per gallon even thought the
demand for oil has decreased from 22 million barrels a day to 18
million. Purchase of foreign oil has remained the same today as it
was in 2008 even though demand for oil in the USA decreased by more
than 20%. Obama loaned $2 billion to Brazil to drill for off shore
oil and has not allowed any additional oil drilling in the USA.
The reason given by the government to increase the debt limit was to
keep the ratings for government securities at AAA and to stabilize the
investment markets. As Obama signed the debt limit legislation, the
stock market fell dramatically as Moody’s and S&P announced that the
debt legislation did not cut enough spending by the government
immediately and that a downgrade to government securities could happen
if deeper cuts are not made to current government spending.
The proposed cuts to government spending do not address the most
glaring areas of spending. How much does the USA federal government
spend on foreign governments, spend for pay to government employees,
spend on education when education is a state issue, spend to implement
Obamacare, and spend on establishing more regulations for the
environment and business? Why are these expenses not being cut now?
Is Obama a failure or is he deliberately trying to sabotage the USA
economy? Either way, he must go!
Michael Master is the author of “Save America Now!” It can be
ordered at http://www.amazon.com/gp/
