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Who will he blame then?

October 17, 2012
The Daily News

EDITOR:

President Obama claims to be a tribune of the middle class but he's presided over the worst economy for average workers since Jimmy Carter.

Some 12.1 million Americans are still out of work but, in contrast, in 2004 Democrats were lambasting George W. Bush for a September jobless rate that was 5.4 percent.

The Wall Street Journal says Mr. Obama is promising four more years of the same policies he's pursued in his first term except that this time he says he really will raise taxes immediately in 2013. Anyone who wants the same job creation should vote for him.

This is the guy that told Americans in 2009 that if he did not turn around the economy in three years his presidency would be "a one term proposition."

Let's oblige him in November. Mr. Joe Biden said three years ago that $830 billion economic stimulus was working beyond his "wildest dreams."

Prominent political dreamers have been mismanaging our economy for four years and that is exactly why our national debt is through the roof and over 12 million Americans don't have jobs.

One of the administration's biggest false-hoods is energy. Obama said the linchpin for a growing economy would be renewable energy investment and he promised to "create five million new jobs in solar, wind, and geothermal energy."

His job estimate was a disaster and many of the "green" firms are fighting bankruptcy. The growth in U.S. energy production that he now takes credit for has come almost entirely from fossil fuels his administration has done so much to obstruct.

Lets look at the Obama performance.

- The national debt has increased from $10.6 trillion to $16 trillion or 50 percent since President Obama took office.

- Every man, woman and child in the United States owes more than $50,000 as his or her share of the national debt.

- Every taxpayer owes more than $140,000 as his or her share of the national debt.

- There is not a single nation in the Eurozone that has a per person debt greater than that of the United States.

- The national debt is greater than the nation's gross domestic product, which measures the output of the entire U.S. economy.

- In the last four years, the national debt has increased more than it did in the previous 17 years.

- The national debt grows by $2.8 million a minute - or $4.03 billion a day.

Obama's "economy built to last" is phony. This hasn't happened and the congressional budget office is predicting a possible recession for 2013.

The most sensational falsehood from Mr. Obama and his allies, made repeatedly to the American people, according to the Citizens Against Government Waste, is the claim that his budget plan would "pay down our debt" meaning it would turn annual deficits to surpluses.

The numbers from his own Office of Management and Budget show this to be spectacularly false.

Hope and change! How is that working out for us?

Every president "inherits" the previous government and its economic conditions. What a mess President Obama will inherit if he is re-elected. Who will he blame then?

George Zaio

Iron Mountain

 
 

 

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