For starters, we now have confirmation that Barack Obama truly loves poor people.
We now have confirmation that Barack Obama truly loves poor people. Because he is creating so many of them.
The Census Bureau reports that America suffers with more people in poverty now than ever before in its history of reporting on poverty — 44 million. That’s up nearly 4 million in the last year alone, with the poverty rate shooting up to 14.3%. One in seven Americans now suffers in poverty.
That follows the report that foreclosures hit their all time high in August, up 25% over a year earlier in August, 2009. As Stephen Meister reported in Monday’s New York Post, “That makes the ninth straight month repos have increased on a year over year basis.”
Before that was the August jobs report, which showed the economy still losing jobs, and the unemployment rate still rising, up to 9.6%, 32 months after the recession began. Nearly 15 million remain unemployed, with over 6 million long term unemployed for 6 months or more, the highest since the Great Depression. Also still rising in August was the nearly 9 million stuck working part time for economic reasons, up another 331,000. Another 2.4 million “wanted and were available for work, and had looked for a job in the prior 12 months,” but had given up. That makes 26.2 million Americans unemployed or underemployed.
On Monday, the National Bureau of Economic Research declared that the recession had technically ended in June, 2009. But with the average recession since World War II lasting 10 months, and the longest previously lasting 16 months, this sorry record above 32 months after the start of the recession only shows how badly Obamanomics has failed the American people.
Moreover, the economic growth we have experienced has been less than half the growth we have enjoyed after similarly severe downturns. The economy grew by 7.7% in the first four quarters of Reagan’s recovery in the early 1980s. Even under President Ford, real GDP grew by 6.2% in the year after the 1974-75 recession. Yet, under President Obama’s policies, economic growth is again in a tailspin already, falling from 5% in the fourth quarter of 2009, to 3.7% in the first quarter this year, to 1.6% in the second quarter, portending a renewed, double dip recession. That double dip is a lock if the crazy, Obama/Democrat tax piracy increases go through next year.
Indeed, a year after the recovery supposedly got under way, GDP still remains below its last previous peak in the fourth quarter of 2007. By contrast, in the Reagan recovery, the economy soared past its previous peak in 6 months. The boom then lasted effectively for another 25 years, which we are not going to see this time. Not until Obama is removed from office, and his policies reversed, with Reaganomics restored.
Most recently, somehow Obamanomics now seems to be reviving inflation as well, with prices for gold and silver last week rising to record levels. We haven’t seen that stagflation since Jimmy Carter’s 1970s, the last time the throwback Keynesian economics at the center of Obamanomics was in power.
The Disgrace of Obamacare Authoritarianism
Soon exceeding even this disgrace of Obamanomics will be the disgrace of Obamacare. As the lies told to win passage of President Obama’s national health care takeover are now becoming exposed, the Administration is resorting to authoritarian measures to cover them up.
President Obama barnstormed the country for his health care takeover plan promising that despite adopting or sharply expanding three entitlement programs, it would actually reduce the deficit. He was not honest in failing to disclose that this was based on $5 trillion in Medicare cuts over the first full 20 years of Obamacare, as documented in my own article in the September 9 Wall Street Journal, based on the government’s own Annual Report of the Medicare Board of Trustees.
These are primarily cuts in Medicare payments to doctors and hospitals for the health care services they provide to seniors. Moreover, these are cuts for seniors that are already retired today, not future retirees. This is like trying to maintain our national defense while refusing to pay the people who make the bullets, guns, bombs, tanks, planes and ships. How long do you think our nation’s defenses would last under that policy? That policy will similarly create chaos in health care for America’s seniors. If the government is not going to pay, then doctors and hospitals are not going to provide the health services on which America’s seniors rely.
Similarly, President Obama barnstormed the nation telling us over and over that his government takeover health plan would reduce health care costs and “bend the cost curve downward” for “our families, our businesses, and our government.” Yet, just last week, there he was, saying, “As a consequence of us getting 30 million additional people health care, at the margins that’s going to increase our costs — we knew that.” This doubletalk was not honest. (The plan doesn’t even get 30 million additional people health insurance coverage, either. Truly, you can’t believe a word the man says).
Moreover, before a national TV audience, President Obama scorned the idea that his health insurance mandate forcing all workers to buy the health insurance he chooses was a tax. Now his lawyers are in court arguing that it is constitutional because it is a tax.
True, given the polls, the only people President Obama fooled with his health care dishonesty were Congressional Democrats. But the American people expect their President to tell them the truth. Congressional Democrats will learn that anew this fall.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?