Double-Dip Recession
Courtesy of Obama, Soon Official
What happens when you combine gross INcompetence with hatred of capitalism and a vow to make a “fundamental transformation of America” (along Marxist lines): double-dip recession, that’s what! Mr. Obama has now officially made himself into the worst president in the history of the nation by damaging our economy and our way of life (via unending attacks upon the U.S. Constitution) in the shortest possible time frame (roughly 19 months). Short of turning our own nukes on us, how much harm can one man do?
Item: In one law, Obamacare, he created 388 new government agencies (almost ten times the output of Franklin Delano Roosevelt’s 12+ years in office.
Item: Calling himself a friend of business and the “Jobs President,” Obama forced through a $787 Billion job stimulus bill in February, 2009, that America didn’t want, claiming that when it was passed unemployment would not go above 8%. That figure shot to 10% and has been stuck at 9.5% in recent months. Our “Bailout President” has certainly disproven dramatically any claim to being the “Jobs President.”
Item: 27 percent drop in existing home sales on top of our other woes
Item: Home foreclosures have multiplied 10-fold over the last three years
Item: He is plotting to raise taxes in January, by NOT extending the Bush tax cuts now in place. If there is one item that all economists, even the most lost Keynesian economics professors, agree upon it is this . . . thou shalt NOT raise taxes in the midst of a recession. Of course, raising taxes in the middle of a double-dip recession is the ultimate government-interference sin.
Item: House Republican leader John Boehner, Tuesday, urged Obama to immediately support an extension of tax cuts and to fire key economic advisers, arguing that more than a year of "government as community organizer" has failed to revive the economy. Thus far Obama, now on vacation again (in Martha’s Vineyard this time) and his adminstration have not deigned to reply.
Item: Earlier this week, Treasury Secretary Timoth Geithner said that the George W. Bush law (originally pushed by Republicans in January, 2005, and finally in watered down form) passed in July, 2007 saved the economy from a much more severe recession than we’ve so far had and that without it home prices would have plummeted.
Item: Thanks to five progressive mortgage guarantee bills culminating in the three passed by Bill Clinton the statistic that only one in every 404 American home loans was made with 3% or less down payment, had changed to roughly one in three loans by 2005 were questionable loans forced upon lenders by government regulations. ACORN has been pursuing those loans for 33 years and Obama worked as an ACORN lawyer shaking-down lenders to make them follow the ignorant federal requirements so that people without ID, without jobs, without rental history, without decent credit ratings, with only food stamps to show as “income,” on welfare, and even illegal aliens could own $400,000 homes.
Ya’ll live long, strong and ornery,
Rajjpuut
