Obamanomics means debt. Washington is spending 57 percent more than it is receiving in revenue. Federal budget deficits of $1.4 trillion in 2009, $1.3 trillion in 2010, $1.3 trillion in 2011 and another $1.2 trillion is on the way this year.
The four year increase in borrowing amounts to $55,000 per U.S. household. The treasury must raise $4 trillion just this year alone for the burden of interest payments on the debt.
The federal government has 46 separate job training programs and added yet a 47th for green jobs. The success rate was so poor that the Department of Labor inspector general said it should be shut down.
Some examples of government waste include:
- 82 federal programs to improve teacher quality.
- 80 programs to help disadvantaged people with transportation.
- 80 programs for economic development.
- 47 programs for job training and employment.
- 20 separate programs to help the homeless.
- 15 different agencies overseeing food-safety laws.
Mr. Obama's buddy Vladimir Putin recently all but endorsed President Obama for re-election even though Obama's reset in relations with Russia has failed.
Putin is cracking down on democratic groups protesting against him. Backing human rights in Russia could put supporters in a Siberian prison like oil tycoon Mikhail Khodorkovsky.
Why would Obama try a reset with a degenerate like Putin? Russia's main export is not oil and gas, it is corruption.
In the latest slap to America the Kremlin announced last week it is expelling the U.S. Agency for International Development.
The aid arm of the State Department has spent almost $3 billion in the last two decades to feed and modernize Russia and will close Oct. 1. We've wasted $3 billion that could have been used to help pay down our debt. More government disastrous policies.
This president will do anything for political gain.
In June, the Pew Research Center released one of its periodic surveys of global opinion. It found that since 2009 favorable attitudes toward the U.S. had slipped nearly everywhere in the world except Russia and, go figure, Japan.
The Wall Street Journal on Aug. 28, 2012 stated that the buzz about American decline mistakes the mediocrity of the president for the destiny of the nation.
But we have an election on, the outcome of which will decide whether one man's mediocrity becomes a whole nation's destiny.
Mr. Obama is now the world's leading has-been, trying to revive a career on the strength of a talent that was greatly exaggerated to begin with.
But a country that's willing to reward mediocrity with a second chance risks becoming a has been itself.