Long Term Economic Weakness A Near Certainty
February 1, 2013 10 Comments
The economy is a mess as the numbers we’ve seen lately tell us. Earlier this week it was reported that fourth quarter GDP dropped 0.1%. Back in 2007 the AP declared a quarter of economic decline was a sign of a recession. These days the AP whines that economic “jitters” are competing with Obama’s progressive agenda. Yesterday the government reported an increase in new unemployment claims of 38,000. Reuters tried to soften the number claiming it’s within a range for “job growth.” It’s a pretty substantial gain over the previous week to believe we’re looking at any kind of serious job growth. January unemployment increased to 7.9% with 157,000 new jobs. As usual during the last four years, not enough jobs to cover population growth.
This is all the Republicans fault of course. The media, Democrats and Obama administration all blame the GOP for poor economic news. They’ve done away with blaming Bush, now it’s just generic “Republicans” that are to blame. Harry Reid bloviated that the GOP needs to stop “bad mouthing” the economic recovery. Citing statistics is a sign of “bad mouthing” in the world of Democrats. We can’t have any of that because it might undermine the ability of the left to force through gun control and amnesty for illegals in the next 24-48 hours.
Everything Obama wants to do has to be done immediately, or so he’s been arguing. The less debate the better for him. Bad economic news ruins his ability to force though his progressive agenda, perhaps as much as Republican opposition in the House. None of this economic news is particularly surprising, which is why Obama is pushing so hard right now. His second administration is likely to be dominated by the economy. Obama’s tax increases on 80% of Americans is having a profoundly negative effect on the economy. Obamacare kicks in soon with the cheapest acceptable plan costing $20,000 per family according to the IRS. Can’t afford that? You’ll be taxed around $2,000.
We have massive economic problems and we don’t have a President or a Congress capable of tackling them. We have a mounting national debt that is projected to hit $20 trillion by the end of Obama’s term. We continue to have $1 trillion annual budget deficits. Taxes are crippling the economy, making it more difficult for middle class Americans to be upwardly mobile. The President and his party were re-elected by an underclass of people dependant on government for just about everything in their lives. Obama pays lip service to getting the long term unemployed back on the payrolls, all while increasing the number of people on social security disability more than any other President in history. It pays to have a dependant underclass when you’re a Democrat.
Our nation is facing a bleak economic future. Britain is entering a third dip recession, Europe generally is slowing down. China is slowing down. The US is facing its slowest economic recovery since the Depression. So slow, it’s not even a recovery anymore. Obama has no real economic plan, he lives in a fanciful world where he plays dictator to business, Congress and the masses of Americans. It’s a dream world that doesn’t exist but one that results in Obama offering nothing to fix the problems we have. We have a Congress that can’t deal with the lunatic in the White House and can barely deal with each other. As a group, Congress doesn’t have any solutions either. We’re in for a rough four years. One wonders if the American dream of upward mobility really is dead.