The American Spectator : A Second Term Will Be Terminal

Text Size

The Obama Watch

A Second Term Will Be Terminal

By Peter Ferrara on 7.11.12 @ 6:10AM

Another four years of Obamanomics and Argentina will be crying for us.

(Page 2 of 3)

Krueger also solemnly told the public, “it is important not to read too much into any one monthly report.” But as documented July 6 by Bryan Preston for PJMedia, the Obama Administration has said the exact same thing for each of the last 30 months. Do ya think 2 ½ years might constitute a trend?

The Disgrace of Obamanomics
Obama’s tragic jobs record reflects the dismal economic growth under his Administration’s perverse economic policies. For all of last year, the economy grew by a paltry real rate of only 1.7%, only about half America’s long-term trend. The average so far this year has been no better.

In sharp contrast, in the second year of Reagan’s recovery, the economy boomed by a real rate of 6.8%, the highest in 50 years. During the first 7 years alone, the economy grew by almost one-third, the equivalent of adding the entire economy of West Germany, the third largest in the world at the time, to the U.S. economy. Real per capita disposable income increased by 18% from 1982 to 1989, meaning the American standard of living increased by almost 20%. The poverty rate, which had started increasing during the Carter years, declined every year from 1984 to 1989, dropping by one-sixth from its peak.

But President Obama, following the exact opposite of the policies of Reagan in every detail, is on exactly the opposite course. The Census Bureau reports falling real wages under Obama, kicking median family income back over 10 years. Census also reports more Americans in poverty today than at any time in the more than 50 years that Census has been tracking poverty. That is why Obama can also boast an all-time record number of Americans on food stamps, which is why Newt Gingrich has rightly labeled him “the food stamp President.”

Obama cannot explain away this disgrace of Obamanomics by arguing that the economy has performed so poorly under his Administration because the recession he inherited from Bush was so bad. That is exactly what he is arguing when he says “there are no quick fixes to the problems we face that were more than a decade in the making.” But the American historical experience is that the worse the recession, the stronger the recovery, as the American economy snaps back to its world-leading, long-term, economic growth trend line. Based on this historical record, we should be enjoying the third year of a raging economic recovery boom right now.

This historical experience was reflected by the surging Reagan recovery boom from the deep 1981-1982 recession. And it is why Obama was confident enough to tell Matt Lauer and the nation in 2009 that if he doesn’t have the economy hopping after 3 years, he is going to be a one-term President. If anything, because of the severity of the recession, Obama should have been blessed with an even more booming recovery than Reagan. But the dismal economic performance we have suffered instead, with no real recovery from the steep 2008-2009 recession at all, is the disgrace of Obamanomics.

The Coming Crash of 2013
For the first time on Monday, Obama indicated that the Bush tax cuts may not be made permanent for those making less than $200,000 a year. For why would he otherwise propose only a one-year extension of those tax cuts? If he terminates those tax cuts after one year, that would constitute yet another tax increase on the middle class, besides Obamacare.

This partial one-year extension of the Bush tax cuts will not do anything to promote the economy. Temporary tax relief does not work in any event to advance economic growth, because it is discounted by investors, consumers, and businesses as only a passing fad. But extending the Bush tax cuts for those making less than $200,000 per year would not be a tax cut from the current rates, but only an extension of the same rates that have been in force for 10 years or more. So there is no boost to the economy from that. Note that these are the tax cuts adopted by Bush and the Republicans for those making less than $200,000 per year, contrary to Obama’s claims that Bush and the Republicans only cut taxes for “the rich,” which are only despicable, manipulative lies so dishonest that they should disqualify Obama from office.

Indeed, instead of adopting tax cuts promoting the economy, Obama’s tax proposal on Monday would terminate the Bush tax cuts for those making over $200,000. So it would only trash the economy, because it would involve a huge tax increase on the nation’s small businesses, job creators, and investors. Counting the tax increases of Obamacare that will also go into effect next year under current law, the top two income tax rates would increase by nearly 20%, the capital gains tax rate would increase by nearly 60%, the tax on dividends would nearly triple, and the death tax would rise from the grave with a 55% top rate. While Obama says only 3% of small businesses would be affected, the tax increases would apply to close to two-thirds of small business income, which is the foundation for most jobs.

This is all on top of the corporate tax rate which under President Obama is the highest in the industrialized world at nearly 40%, counting state corporate rates on average. Even Communist China offers a 25% corporate rate. The social welfare states of the European Union are even lower on average, with formerly socialist Canada now featuring a 15% corporate rate, and economic powerhouse Germany not much higher.

American businesses are uncompetitive in the global economy with this tax burden. But under President Obama, there is no relief in sight. Instead, he has been barnstorming the country for the last two years calling for still more tax increases. Under his so-called Buffett Rule, which would double the capital gains tax, America would suffer the fourth-highest capital gains tax rate in the industrialized world, besides the world’s highest corporate tax rate.

When you add up all those multiple tax rate increases on top of Obama’s exploding regulatory costs, the result will be to push the economy back into recession next year, with unemployment soaring back over double digits, and the deficit soaring to new all time records over $2 trillion, the highest in world history. It is working people who will be hurt the most, because they are the ones who will lose the jobs they need for their basic standard of living. Even those with jobs will suffer further declining real wages and incomes because of the shredded demand for labor.

There is no economic theory under which increasing tax rates promotes economic growth and recovery, particularly rate increases on job creators and investors. Even under Keynesian economics, such tax increases are contractionary. Indeed, even Karl Marx would tell you that such tax rate increases would bring a market economy down, not up.

Obama falsely claims he is only restoring the Clinton era tax rates. But Obama is well beyond that now, because he is imposing the Obamacare tax increases next year as well, and he has been proposing still further tax increases. The top marginal income tax rates that drive the economy would consequently soar by well over 30%, probably close to 40% or more.

Obama says we tried the Bush tax cuts for “the rich” and they didn’t work. So let’s review how exactly they did work out. Bush cut the top income tax rate by 11.6%, from 39.6% to 35%, and the second highest rate by about 8%, from 36% to 33%. But he cut the lower rates by higher percentages, including slashing the bottom rate by 33%, from 15% to 10%. Then in 2003, he cut the tax rates on capital, reducing the capital gains tax rate by 25% from 20% to 15%, and the tax rate on corporate dividends to 15% as well.

Page: < 12 3 >

About the Author

Peter Ferrara is Director of Entitlement and Budget Policy at the Heartland Institute, General Counsel of the American Civil Rights Union, Senior Fellow at the National Center for Policy Analysis, and Senior Policy Advisor on Entitlements and Budget Policy at the National Tax Limitation Foundation. He served in the White House Office of Policy Development under President Reagan, and as Associate Deputy Attorney General of the United States under President George H.W. Bush.

Letter to the Editor View all comments (90) | Leave a comment Leave a comment

TLP| 7.11.12 @ 6:43AM

"That leaves the Total ARMY of Unemployed and the Underemployed at 23.4 Million Americans."

Can anyone find the Applicable word, here?

Some of us CONTINUE to see this Creature as something other than he really is.
You still cling to the belief that "He doesn't know what he's doing."

How many times does he Meet with Members of his Cabinet in a YEAR? How many times does he meet with Congressional Leaders in a YEAR? What about The Joint Chiefs? What about his CIA Director?

What about his "Shadow Govt"? His Unconfirmed Czars. His Marxist Fellow Travelers. How many times does he meet with THEM?

How many times does he meet with Dickey Boy Trumpka, EVERY WEEK? Or, his Big Donors, and his Bundlers? Sunstein? Jones? AYERS?

And, why does he keep sending his Gun Runner to Black Churches, and to the United Negro Communistas Organization to PLAN STRATEGY, when they're TAX EXEMPT Organizations?

We are where we are, because HE WISHES IT!

Every Job Killing Rule and Regulation. Every Document Forging, ILLEGAL Drilling Moratorium. Every CANCELED Pipeline. Every Shut Down Power Plant. Every shuttered Business in the Gulf, that relied on the Oil Industry, and every Farmer out West, who needs Water, but can't get it.

They're all ON PUROSE.

An ARMY of the Unemployed, and Underemployed, led by a Charasmatic Leader, who's Oratory Skills enthrall his followers, and sends them in to the Streets after anyone he TARGETS as his Enemy.

Sounds Familiar.

Alan| 7.11.12 @ 7:51AM

If people in this country vote this "thing" in again, then the old adage that people get the government they deserve holds true. Shame that the ignorants amongst us have to relearn history the hard way especially with Europe going down the socialist drain even as we speak as a true to life example of what not to do as a form of government. The younger generations of brain dead texting machines that we call our future is depressing but thats the strength of the Marxists and their collectivist cohorts pushing their utopian heroin on the willfully stupid.

MK48| 7.11.12 @ 11:03AM

Adolph Hitler...."What luck for rulers that men do not think".

TLP| 7.11.12 @ 4:35PM

You get it.

But then, of course you do.

You're a Man among Men.

A Patriot.

God Bless, buddy.

Petronius| 7.11.12 @ 5:19PM

Obama has just signed an Executive order claiming the authority to take control of the internet in "Emergencies". That will soon be declared and this site along with the others where Conservatives go for information will disappear. It's been great knowing all y'all.

Reggie Love| 7.11.12 @ 9:19AM

I have seen a rising amount of articles by liberals promoting a draft,or some form of mandatory national service. It is getting scary.

TLP| 7.11.12 @ 9:32AM

SIEG HEIL, Reggie Love.

ARBEIT MACHT FREI.

It'scloserthanyouthink.

Bob Grant| 7.11.12 @ 4:41PM

TLP,

You'll like working for the Hawaiian Choom Chain Gang, formerly called the Tennessee Valley Authority.

An obama czar will have you traveling to far flung, exotic places like Hawaii, Death Valley, or the Florida everglades to dig trenches and refill them. And if you are nice to your boss Pedro, the newly-minted citizen from Nuevo Laredo, he MIGHT give you a mosquito net with your government-issue camping tent.

Come on man, get with the program. You don't want to know what happens to trouble makers.

Anthony| 7.11.12 @ 9:37AM

The D party and the left tried to bring back the draft during the build up to Iraq and Afghanistan in order to gin up opposition to the war.
Since we had instituted the all volunteer army, the pampered draft age kids were not concerned about other kids their age doing their duty for their country, so the Ds and the left had to attempt to get them engaged.
When I told my lefty sister-in-law, who was then worried about her son going to Iraq, that it was her D party that was attempting to bring back the draft to accomplish this for her, the vacant look on her face was priceless.
Yep, the D party in action, always acting against the best interests of America, every and any way they can.
As to the national service, since we've had 41 straight months of over 8% unemployment, national service is just Obozo's way of imitating FDR by keeping the lid on a population that should be storming Washington, but for the freebees and handouts of Obozo and his administration.
National Service, while a good thing in certain ways, is just a ploy to keep the 50% of college grads that can't find jobs, busy, or they'd be storming D.C.
Obozo, like the D party's mentor, FDR, knows just how much to dole out to the masses to keep them from picking up their pitchforks.
Argentina you say, hell, this is Kenya!!!
Hope and Change, you bet!!!

Kwan| 7.11.12 @ 10:41AM

Was that for the regular military or Obama's Civilian National Security Force? Just to refresh your memory the two most incomprehensible sentences ever delivered by a candidate for President of the United States were: "We cannot continue to rely on our military in order to achieve the national security objectives we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded." ....Barack Obama. All dictators rely on a powerful personal army to enforce their rule over the hapless population that they have enslaved. Iran's Revolutionary Guard and Hitler's Schutzstaffel or SS being prime examples.

Anthony| 7.11.12 @ 10:57AM

You are correct about the Civilian National Security Force, but it was the military draft that the Ds and the left were attempting to reinstitute, in order to get the college kids back on the protest circuit.

Occam's Tool| 7.11.12 @ 1:11PM

If Obama gets reelected, I will be buying AGNC and NLY, as he will continue to destroy the economy predictably, interest rates for mortgages will not rise, and REITS will be useful for 3-4 years, as the man is an economic moron. (Sorry, RCV, but facts are facts, and the REITS named have been returning 13-14% over the last few years as dividends PRECISELY because of what he has done to the mortgage market.) Gold may also look good, as Europe's and our economy will crater (Europe due to the aging of the workforce, ours because an Epsilon semi-moron has been reelected) along with our currencies and therefore gold will rise. If Romney is elected, I will hold Gold, as I still expect the Euro to die, allowing stability and possibly an increase for gold. Demographics is destiny, you know, and Islamic countries, on the whole, produce very very little except terrorism and oil.

There's a lot of ruin in a nation, but we've never had an active traitor as President before (Tyler became an active traitor as an ex-President, ditto Carter).

In September I'll probably kick off another couple of hundred for Romney. Unless I land another contract, my SEP for 2012 should be finished off next month, so I will have a bit of extra cash to donate.

ChrisChris| 7.11.12 @ 4:59PM

Poor American Spectator writers. They write a piece that's a bit flawed, but otherwise would pass for normal conservative perspective, and then the comments section gets jammed up with the nutball conspiracy theories that totally discredit the site and makes it look like it's only for paranoid white supremacists that are currently living in bunkers carved out of their momma's basements.

I almost get the sense you guys will be disappointed looking back on Obama's one or two term presidency years from now when you realize how unremarkable it was. Obama's a normal American president slowly dealing with a difficult economic crash leftover from Bush. He's black. He's a democrat. Live with it. If you don't totally run your party off the deep end, you might even see a republican in the white house again someday. If so, I promise to not reciprocate the "oh my gosh the president is a hitler-lenin-satan worshiper because I disagree with his economic policy" garbage.

TW in SC| 7.11.12 @ 6:22PM

First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.

Then they came for the Jews, and I did not speak out--
Because I was not a Jew.

Then they came for me--and there was no one left to speak for me.

Martin Niemöller

darcy| 7.12.12 @ 4:32AM

Perhaps it wasn't Niemoller, but Dietrich Bonhoeffer.

At any rate, Mr. Ferrara reminds me of Churchill warning about the implications of the direction Hitler was taking Germany. Churchill, sadly, was correct. No one really wanted to believe anyone could be as vile as the German Chancellor proved to be. So they dismissed Churchill's warnings.

Just like you, ChrisChris, consumed no doubt by the lies coming from the "government-seized media," as Mr Ferrara aptly described America's Pravda, you are dismissing the facts and living in a fantasy-land if you think the current president is "normal." You betray your abysmal ignorance by writing such piffle.

Joellen| 7.11.12 @ 7:23AM

As an American, it is everyones duty to educate all they come upon (friends, family & strangers) as to what these evil people are doing to our country. Educate them about Barrack Hussin Obama, Joe Biden, Nancy Pelosi, Harry Reid, and all the other communist that have taken control of our government. These people are hate filled amd divisive. Make sure everyone you know is registered to vote and this is the one election they must vote R all the way down. This is our last opportunity to restore America to the Consititution - the battle is on and we must be warriors for our Country. We cannot lose - we must not lose - I dont wish to die in a communist Amerika. Like most of you I love America - I give extreme gratitude to our Military who risk their lives every day - the least we can do is fight like the dickens here at home to restore honor and reset this country back to 1776, which would be the REPUBLIC UNITED STATES OF AMERICA. Most importantly PRAY. We must get on our knees and ask GOD to lead us out of this hell hole - we must restore America back to what our forefathers established this once great country on - Judeo/Christian Religion. Pray folks - pray for a conversion in this country and around the world - if we dont bring AbbA FATHER back into our system - then we are truly doomed.

Oldefarte| 7.11.12 @ 10:40AM

Thank you...very well stated truth!!!!!!

Anthony| 7.11.12 @ 11:44AM

With more Americans going on SSI disability last month than the 80,000 "jobs" created, it may be too late.
But what the hell, let's a least take out Washington if we lose the election and go down fighting. Our Founders would insist on nothing less, given what Obozo and the Marxists have done to America.

ChrisChris| 7.11.12 @ 5:09PM

First of all, you just called all of the democratically elected centrist-democrats "communists," and then accused them all of being divise? C'mon now.

Second, I'm not living in a hell hole, and honestly, other than seeing some key social services cuts for low-income people in my neighborhood (that are hurting because of them), I haven't seen much change from the Bush years in my day to day life. If you love America, why can't we work together? I think you love rural, white, conservative America and hate the rest of us. That's neither cool nor American.

And God is not a nutty conspiracy theorist like yourself. Try praying for wisdom, or that your eyes are opened to the wackiness of your paranoia.

TW in SC| 7.11.12 @ 6:17PM

You are but a naive little child.

You do not understand communism, therefore you say the stupid things you do.

You are also ignorant of the events of the past 3.5 years, to include, how the healthcare bill was passed, Fast & Furious and the land-grabbing by the national socialists, just to name three very significant things. How about the moratorium on drilling for oil in the Gulf? Federal judges have held Obama in contempt for putting those in place and he single-handedly put between 13,000-30,000 people out of work.

He is a Marxist. He hates this nation and believes it needs to be punished.

What he's monumentally ignorant of is that while he and Holder are punishing "whitey", the black segment of the population that typically trails behind whites in most every area is getting hammered. UE among black youth? ~50%.

You need to stop getting your info from the communist news outlets that drink from the Stalin Fountain. You must be very young or very insulated in your world or both.

TLP| 7.11.12 @ 6:44PM

There truly are, none so Blind, as those who WILL NOT SEE.

When THEY COME FOR HIM?

Then, he'll understand.

But, of course, it will be far too late, by then.

Things never change, do they?

TW in SC| 7.11.12 @ 7:04PM

Tim,

It's disheartening at the very least the lack of cynicism in the youth these days, or...maybe more accurately, the lack of proper direction. It's natural for kids to mistrust the adults but since the normal current of that went flood-speed in the 1960's, the kids have been given power and treated as if their voice really matters.

But like my elders told me when I was a wet-behind-the-ears lad, "I don't care how smart you are...YOU HAVEN'T DONE ANYTHING YET!" Therefore, there is no room for arguing how put-upon you are, or even your views on politics lack any weight because you haven't experienced jack-sh*t yet. Come back in 20 years when you've had to struggle, work, fight for a belief or rescue your sorry a** from financial ruin and then I might listen.

This wet-diaper wearer is spewing the nonsense that Obama "inherited" the evilBushHitler economy that suffered from 5% UE and some pretty hefty debt. Yet he ignores that captain McFlappyEars has held a steady 8+% for 3.5 years and doubled the ENTIRE national debt in 24 months that took 234 years to accumulate. Yeah, "average American president...He's black..he's a democrat" . And that's all he wants to see.

DRed| 7.11.12 @ 8:17PM

Unemployment was over 7% and falling like a rock when W left office. Our national debt was 10 trillion dollars when W left. After 2 years under Obama it was a bit less than 14 trillion. (which is not twice as much as 10 trillion) The interesting thing about this is that these facts take literally seconds of searching to find, but you still managed to get them wrong. Are you willfully ignorant, or just really, really lazy?

TW in SC| 7.12.12 @ 10:03AM

If I want pretzel-logic, I'll come to you.

Although when Bush was leaving office unemployment had begun to rise, it spiked when Obama took office, due to a democrat-run congress and their policies. During Bush's administration it averaged around 5%. Compare that to Obama's consistent rate of well over 8% for all of his term.

As for the debt, the national debt at the time of Bush's departure was $4.16 trillion. In less than two years, Obama & Co. has added $4.2 trillion.

Gee, it took 232 years to get to $4.16 trillion and just two years for Obama to add $4.2 trillion more.

Not sure about YOUR math but it looks like it doubled to me in two years.

I have websites I linked but AS won't let me.
Google: Reflections Of A Rational Republican and "Obama Has Now Increased Debt More than All Presidents..." CNS News, authored by Terence P. Jeffrey, Oct 11, 2011

DRed| 7.12.12 @ 12:03PM

Yes, it's true that when Bush left office the National Debt was 4 trillion dollars. Unfortunately for your argument, that President Bush was George Herbert Walker Bush. Seriously, the article you asked me to google even says that. Your reading comprehension is apparently worse than your math.

TW in SC| 7.12.12 @ 2:32PM

And yet you still miss the point.

Okay, so it was GHW Bush. But the Obama debt-explosion is still very noteworthy.

I submit, from the article:

"As of Monday, Obama had been in office 986 days—or about 32 and a half months. During that time, the debt increased at an average pace of $4.27 billion per day. Were that rate to continue until Obama’s term ends on Jan. 20, 2013, the debt would then stand at about $16.86534 trillion—an increase of more than $6.2 trillion for Obama’s four years.

That would equal nearly $53,000 for each American household or more than $66,00 for each full-time private-sector worker.

That total national debt did not exceed $6.2 trillion until 2002, when George W. Bush was president."

And still, $4.2 trillion dollars added to the debt in 32 months, which exceeds the entire debt from all other presidents prior to W's dad. OK, happy?

My god you like to quibble.

spike59| 7.12.12 @ 6:01AM

chrissiechrissie...where to begin? 'centrist-democrat' is as oxymoronic as 'jumbos shrimp' or 'liberal tolerance'
Perhaps on the usual Democrat scale (with Marx on one end and Michael Moore on the other) you might describe ObaMao and his crew as 'centrists',but in the REAL world? not so much

LarryK| 7.11.12 @ 8:31AM

In a speech then candidate Obama gave in Feb, 2008, he said, "We live in the greatest country in the world. Help me to change it."

Well, he did change it and it isn't any better is it?

Alan| 7.11.12 @ 8:44AM

Translated, "become a ward of the government, I will provide what you need, food, clothing, housing, medical care for free all I ask is you worship me and allow my party and elitists to retain power forever, live like capitalists with all the fruits and joys of freedom that we are taking from you"

Nuff Said!

Stephanie| 7.11.12 @ 8:55AM

That's what I don't get. Don't the obama followers, the welfare queens and all the takers for that matter, see that we will ALL live in near poverty while they live in opulence? Doesn't it bother them that Moochella flies around at taxpayers expense in expensive clothing, their kids go to a WHITE PRIVATE school? Don't the sheeple that vote D get it?

Alan| 7.11.12 @ 9:01AM

No Steph, they don't get it. Oxygen is considered the most abundant substance on earth. Wrong, ignorance is by far more abundant than oxygen on earth.

Oldefarte| 7.11.12 @ 10:43AM

Of course they "get it" and that is their wish by voting D. They get the welfarecare, the non-stimulus to unionized governmental workers, the affordable homes, the food stamps, etc. You betcha they GET IT and at the taxpayers' expense too!!!!!!!!

Alan| 7.11.12 @ 11:59AM

What they don't get are the repercussions and the inevitable collapse they are voting upon themselves, hence the ignorance.

Al Adab| 7.11.12 @ 4:05PM

Alan:
"Apres moi le deluge." ...and we know how that turned out.

BackToBasics| 7.11.12 @ 9:24PM

I've seen pictures of those who attend his campaign stops. Most have a deer-in-the-headlights look when they attend. About half in each crowd looks young and when they aren't in attendance they are more concerned with what new tatoo or piercing they can get, perhaps on the taxpayer dollar, than be concerned about the consequences of his continued path towards totalitarian rule.

MK48| 7.12.12 @ 12:25AM

They just don't see that they are not insulated from the destruction that "it" is doing only when a knock on the door comes and some guy says the Gov. now owns your home you've paid for and "we" the Gov. will let you live in it but the rent will be.......

And by the way your new job will be.........

BackToBasics| 7.12.12 @ 1:27AM

MK48, I agree and add that they will also say we cannot openly worship the Christian God or speak about Him in public.

I have actually heard, from white liberals, rantings and rage against Christians that makes me think that the bottom-line to all their America hatred is really a hatred of Jesus Christ. They wish to do away with Him, worship of Him and do away with His followers too. One of their biggest steps to accompllish this goal is to stop freedom in America.

They will kiss Islam, wear Burkhas and head coverings, allow Sharia Law and bend way over for Islamic terrorists to get their death wish against Christianity fulfilled.

It was just like the Islamic group the other day who took the step beyond calling for Jewish destruction to call for Christanity to be wiped from the face of the earth.

http://www.wnd.com/2012/07/mus.....-of-earth/

Cobalt| 7.11.12 @ 8:52AM

By their standards, things are going quite well for Obama, and all according to plan. The Leftists are tearing the country apart, and bringing it down to where it will just be a bitch of the United Nations.

Obama and Company have had a very successful 1st term, and they are looking forward to a second term of destroying America. Four more years of getting even.

And (all this for a damn flag) First lady Moochelle Obama will lead the official American delegation to the opening ceremony of the 2012 Olympic Games in London. How much will the side trips to Europe, 1st class hotels, etc. cost us?

270 electoral votes and Obama gets four more years.

Stephanie| 7.11.12 @ 8:58AM

Is Moochella really leading the official American delegation to the opening ceremony? My God, how embarrassing for them and for us as a nation. Especially after they flew to whereever it was to beg for the games to be in Crime City USA, Chicago.

Cobalt| 7.11.12 @ 9:22AM

Yes, she is.

Other First Ladies have filled this role in the past. However, none have displayed the style of "fashion icon" Moochelle.

http://cache.daylife.com/image.....J/610x.jpg

Gary B| 7.11.12 @ 10:42AM

Calling that America-hating twit a "lady" is way too generous.

Oldefarte| 7.11.12 @ 10:45AM

Yep, and when Santa saw Moochel, Garrett and Obama standing on the opposite side of the street, he yelled out, HO, HO, HO!!!!!

TLP| 7.11.12 @ 4:39PM

You're too much.

PJ| 7.11.12 @ 12:57PM

Actually, she is wearing something that looks good on her for once. But that right eyelid of hers is a candidate for botox; makeup can only do so much.

Rmm| 7.11.12 @ 9:22AM

The economic #'s just keep getting worse. And this AH want's us to give him four more? Instead of asking for a photo ID to vote, perhaps they should have a literacy test to prove that you are smarter than a box of rocks. Only the dead beats will keep AH in office.

TLP| 7.11.12 @ 4:41PM

Just so you know?

The NAACP required PHOTO I.D. to talk to Eric Holder.

Hello?

Derek Leaberry| 7.11.12 @ 9:25AM

Without cultural renewal, it really doesn't matter who wins in November. Abortion will remain the law of the land. Illegitimacy will be 40 %. The divorce rate will be 50 %. The average age of first sexual experience will still be 16. A majority of Americans will still have their hands out to the government for sustenance and I include all those Tea Partiers who demand all what they want out of Medicare and Social Security. Deficits will be over $ 1 trillion for as long as the "republic" stands. The vulgar, barbaric Mass Culture will still be rotten with rap the long-favorite music, Hollywood and television a cesspool of degeneracy, and tens of millions of children who don't want to work a real job but still go about with tattoos and various piercings flooding the land. Homosexual "marriage" will be the law of the land in all 50 states. And Mitt Romney doesn't give a hoot. He only cares about serving big businessmen, the sorts who have bought his campaign.

Better to let Obama win and collapse the whole morally dry-rotted structure. It can't be reformed.

Al Adab| 7.11.12 @ 11:23AM

Derek:
Your litany of social ills is indeed impressive and on point. One might wonder how long an idolotrous nation is allowed to worship Gaia, Choice, Tolerance, Diversity and other idols without facing judgement. Add to that the number of children as you note sacrificed to that idol and we wonder when the handwritting wll appear on the wall. Mene, Mene Tekel Uparis.

MK48| 7.11.12 @ 11:27AM

Derek......when I read "better to let obama win and collapse the whole morally dry-rotted structure" makes me think your part of the problem.

You are a POS............

Derek Leaberry| 7.11.12 @ 12:33PM

Perhaps you are man enough to tell me that to my face. With my unusual name, I am easy to track.

As for being "part of the problem", with your foul mouth, you show yourself quite at home in the sea of vulgarity of which is modern America.

TLP| 7.11.12 @ 4:43PM

Trust me.

You do not want him in your face.

He'll Kick your Ass.

MK48| 7.11.12 @ 5:06PM

Derek......when I see someone give up on their country my first impression is you are a worthless POS. So many have provided you with the ability to sit in your basement and tell us Americans that it's over give up.

I say we have just begun to fight.....if your not going to lead than get the F out of the way for us who still care.

By the way I don't talk to traitors face to face.....track this.

spike59| 7.12.12 @ 6:05AM

Better to let Obama win and collapse the whole morally dry-rotted structure. It can't be reformed.

========================
sing that tune when you're squashed like a bug under the dry-rotted timbers

ObaMao thanks you for your support, you fool

Al Adab| 7.11.12 @ 1:41PM

MK:
In a world historical context, if the collapse of the United States is inevitable, then it would be better to have Obama and The Left in charge to get the blame rather than to still have the debate over which philosophy caused the end of self-government and the American experiment. Perhaps then, History would reject statism and Liberty could be reborn sooner rather than a thousand years from now.

TLP| 7.11.12 @ 4:52PM

The Collapse of the United States IS NOT INEVITABLE.

If you just opened up EVERYWHERE to Drilling + the XL Pipeline + Mining for Ores and Minerals in the Mountains out West + Giving Water to Farmers who desperately need it + Getting the EPA out of the Coal Industry, and the NLRB out of Private Businesses choices of where they want to open up a Factory + Getting rid of every one of the THOUSANDS of Job Killing Regulations, put in place by Über Marxist - Cass Sunstein?

Getting this Country back on its feet, is a walk in the Park.

waapiti307| 7.12.12 @ 10:07PM

At what cost? We already have examples of statist/leftist failure. History gave us those examples. Only those who are ignorant of history (many of those in American institutions of "higher learning") do not realize that. Why should we learn our lesson at the expense of the country? I still have hope that the problems that face the country can be reversed or made irrelevant. If a patient has cancer, you don't kill the patient in an attempt to remove the cancer or stop it from spreading. The patient (the U.S.A.) has a cancer (statism/leftism) that needs to be stopped or excised. We just need more "doctors" to do the work.

BackToBasics| 7.11.12 @ 9:35AM

Agree that it will finish America. In a 2nd term he will sign an Executive Order to grant amnesty to all illegals who will vote mostly democrat.

If Romney wins, he looks to do things the RINO way. He will be better but this will not avert the fiscal crisis that waits for us.

I also suspect that if he wins Islamic terroroists will strike on our soil again in the next 4 years with majpr strikes.

BackToBasics| 7.11.12 @ 9:35AM

sp - terrorists, major

BackToBasics| 7.11.12 @ 9:43AM

I also would not put it past Obam, if he loses, to sign an EO granting amnesty to illegals after the election but before he leaves office in the same manner that Clinton granted pardons to felons like Mark Rich and to the Puerto Rican terrorists just prior to leaving office in 2001.

TLP| 7.11.12 @ 4:53PM

Red Pill.

Blue Pill.

It's really not that hard.

BackToBasics| 7.11.12 @ 9:10PM

Your post is ambiguous. You could be agreeing with me but it leans more towards a patronizing reply which is totally unwarranted if that is the case.

Yet, if agreeing, fine but try to be more clear, if not then save your volleys for the real enemy, not conservatives!

I will continue to support the conservative cause in my own way even if that means I occasionally mention possibilites such as I did that are not pleasant. However, neither of my posts above was even remotely flattering to Obam.

It should not be necessary for every conservative and Republican to sign-off their posts with, "I'm voting for Romney."

rjh| 7.11.12 @ 9:56AM

Another excellent article, as usual, Mr. Ferrara. However, I fear that those of us who read and understand what you and others are saying are in the minority. Much like the progressives, who exist in their bubble of unreality, we live in our own world of actual facts and reality. We are therefore surrounded, for the most part, by people with similar viewpoints. Unfortunately, and I hope I am wrong, I believe that the evil forces behind obama will triumph due to the ignorance, economic illiteracy, parasitism, educational indoctrination, and racism of their supporters. Throw in the lapdog support of the media and the apparent cluelessness of the Republican party and we are vastly outgunned and outnumbered. Even with the oversampling problems in the polls, how, in a rational country, would a person like obama get an approval rating anywhere above the teens? Once again, I truly want to be wrong, but I think we are finished as a democratic republic. It does not appear that there are enough Americans with backbone among our elected officials who have the courage to do their duty in accordance with the Constitution to remove this cancer from our White House. And, yes, I understand the "political realities". Those so called realities are a major part of the problem.

MK48| 7.11.12 @ 11:34AM

RJH.........the political reality is YOUR a traitor with no backbone.

You need to hangout with the likes of the canadian queen, derek and some others here.

I am sure Jane Fonda has some room for you at her retirement home.

rjh| 7.11.12 @ 11:49AM

Wow. You got all that from my comment? My comment contains nothing more than my observations of what has been going on in this country. If you don't like that or cannot handle that, then it is your problem. I would be interested to know how you came to the conclusion that I am a traitor (by the way, it's YOU'RE not YOUR). That's a pretty strong accusation with absolutely no basis . Now, since I have over 24 years of military service (how many do you have?), including the time when Hanoi Jane was sitting on the AA gun, I don't take kindly to some commando commenter dipsh*t calling me a traitor. So you can take your ignorant comment and shove it.

MK48| 7.11.12 @ 5:22PM

RJH.....when you tell me that there aren't enough Americans with backbone it is telling about your character......I am surprised that you made that statement being a vet. Most of us vets are cut from a different peice of cloth.

I will say thanks for your service from one vet to another......and we are NOT outgunned & outnumbered Sir, we shall see come November.

rjh| 7.11.12 @ 5:50PM

My comment does not express my wishes. I was merely expressing my OBSERVATIONS of what I believe this country has become. I believe you need to read my comment again, slowly...the lack of backbone I was referring to applies to our ELECTED OFFICIALS. You apparently did not comprehend what I clearly expressed in my comment, yet you once again insult me by impugning my character. Your entire first paragraph is one big non sequitur.What does my opinion of an electorate that voted obama into the office of the President have to do with my character? As far as I am concerned, I am in very good company. I do not believe we have ever met, so how do you come to make such a judgement of me? Being a vet yourself, you should realize what a serious accusation it is to call someone a traitor with virtually no knowledge of that person. I suggest you engage your brain before you falsely accuse another person of such a thing. My observation based on my military service is that even mediocre people in the military are head and shoulders above the average person who has never served. I also know that the military has it's share of dullards. Thank you for your service.

aware| 7.12.12 @ 6:06AM

If you get this kind of response for just pointing out that victory laps before the event are a bit premature, imagine the emotional state of some if a second term comes to pass. You are wise to consider the possibility and prepare for it.

Before the "election" we will pass out of the relative calm of the eye of the storm and into the final phase of debt saturated collapse. Only divine intervention can stop it now.

You are no traitor and we will need those like you who can look the beast in the eye and honestly assess possibilities, no matter how ugly, instead of those who plainly allow their emotions to distort their perception and rule their response.

Good luck to you rjh. Let the whistlers continue their journey through the graveyard.

TLP| 7.11.12 @ 5:03PM

I gotta disagree, although I agree with almost everything you say.

What I think you underestimate, is just how HUGE this Marxist Utopian Nightmare, really is, and just how many People's lives it has touched.

Blacks have lost their homes, lost their Buisinesses, and lost any chance they had to see their dreams fulfilled. Like, sending their kids to College.

So have Hispanics.

So have College Grads.

Look at all of the Liberal States, Cities, and Towns, who are declaring BANKRUPTCY.

I think that The Muslim is a Dead Marxist Walking.

Politically, of course.

Thom| 7.11.12 @ 8:06PM

Tim,
I don’t put a lot of faith in most “polls” having set through an entire semester dedicated to all the pitfalls you have to consider when taking a poll or survey but most of those you say have suffered the most are the same Obama voters living in the “bluest” of states and short of him losing one or more of those solidly “blue” states the electoral math still works to his favor because “blue” states carry the most popular votes and electoral weight. Took a long time for the masses in the Zula Nation to stand up to Shaka and stop his madness. Same mindset and tribalism at work here.

Who Knows?| 7.11.12 @ 10:27AM

“Even Karl Marx would tell you that such tax rate increases would bring a market economy down, not up.”

For those who don’t take reincarnation to be a fact, maybe they should put two and two together.

Obama had a Communist mentor. Obama is a stealth Marxist. Obama is Marx, reincarnated.

Obama-Marx KNOWS tax rate increases bring a market economy down. That’s the plan, Stan!

Obama-Marx is a pyromaniac. And, instead of having to hide to escape punishment for his “sparking-sparkling” acts like a normal fire setter, he WON the last election, so, by God, he’s entitled to let ‘er rip and roar, IN YOUR FACE.

Screw you, fools! You voted for me, so if you were too dumb to know what you chose, I’ll show you, in blazing destruction!

Absolute ignorance may be bliss, but for an unenlightened populace to be ignorant of what their “betters” in DC and state capitals are doing is trending towards FATAL.

I love to keep it simple.

The truth about Egypt---90% of females have had their genitals mutilated by Islamic-brainwashed men.

My newest simplicity—25% of Americans can’t name both their senators.

We face a DOOM boom.

Al Adab| 7.11.12 @ 11:40AM

This administration and The Left intend this economy to represent the new norm. How many times have they told us that we as a nation are too rich, too wasteful and a drain on the world? They fully believe that if some are rich it makes others poor.

They forget that JFK said in defending his tax cuts that, "A rising tide lifts all ships" or that Lincoln said, "That some become rich means that others may become rich." They refuse the simple facts that rax cuts, lower govt. spending, free markets in both goods and wages is the proven path to prosperity and that national prosperity helps the poor better themselves, become independant and off the dependancy dole. Of course they want voters dependant on their largess as it perpetuates their hold on power.

Either we reject this philosophy and return to the course which has made this nation the most secure, prosperous, productive and free in human history or we sell our liberty for a bowl of government pottage and all suffer together with less. It is no longer a matter of competing parties commited to the idea of America, but has become a battle of incompatible ideologies one which leads to freedom and the other to slavery. As voters we had better understand the choice we face and reject the dogma of servitude. Should we fail, humankind will enter another dark age of tyranny and future generations - beginning with our own grandchildren - will curse our names.

TLP| 7.11.12 @ 5:06PM

I have Faith, Al, that God will not let this happen.

But, if he should?

Then it's time to brush up on your "Revelation".

Oldefarte| 7.11.12 @ 10:53AM

Everyone should read and re-read Peter's outstandingly truthful editorial, and then post a copy of same on the bulletin boards within their community. Leaving the facts and figures to the experts like Peter, I'll re-emphasize one of his points within, and that is that this administration constantly tells lies and untruths about not only economic matters, but also all others as well [ie Holder and this F&F issue]. As someone said above, when will the American people WAKE UP TO THEIR LYING? They obviously did not do so prior to November of 2008 when substantial and sufficient material and information existed to explain who and what this person now POTUS was/is/always will be. Have they now learned their lesson? Do they now "get it", or are they still as STUPID and GULLIBLE as they were in 2008? When Peter says that this country will did if a tidal wave of opposition voting in November begins righting our ship of state, he is not blowing smoke. This is the TRUTH and each and every one of you had better learn same and counsel your friends and associates if you know what good for your welfare!!!!!!!!!!!!!!!!!!

Oldefarte| 7.11.12 @ 10:55AM

Correction: DIE not DID!!!!

Oldefarte| 7.11.12 @ 10:56AM

Correction: UNLESS not IF!!!!

Who Knows?| 7.11.12 @ 11:00AM

IF !!!!!! DIES

Oldefarte| 7.13.12 @ 2:48PM

Okay, I'll rewrite the whole damned thing: '....When Peter says that this country will diE UNLESS a tidal wave of opposition voting in November begins righting our ship of state, he is not blowing smoke....'

nathan| 7.11.12 @ 12:14PM

I've never voted for a democrat, don't plan to now, but Romney's record, and remember folks, he does have one, as governor of the commonwealth of Massachusetts tells that regardless of the "talk" during the campaign, the way he walks is at BEST moderate, and more likely liberal. "By their actions ye shall know them." His actions as governor tells us most all we need to know. And if you expect him to roll back the presidential abuses that have plagued this president and his predecessor, think again because he has stated before he takes office that he is prepared to violate his oath of office before he takes it. And his failure to condemn the Fifth Amendment destroying NDAA language and demand its repeal (he actually came out in favor of it) augurs poorly for individual liberty under his administration. We can expect more Americans to be non judicially executed based on "information" during his term(s). And probably more interference in the affairs of other nations.

Now BHO was an open book before he was elected. Nothing he has done shocks anyone who bothered to look at his writings/speeches. The same goes with MR. If you all are fine with all this, OK. But understand what you're buying here and no buyer's remorse later please.

Oldefarte| 7.11.12 @ 3:08PM

The ellential point for you and those with similar thoughts is that MR is NOT....BHO! You need to understand that fact. MR may be a total dud as POTUS, BUT [unlike the current office holder] he has the educational and professional qualification to effectively deal with the extreme financial and economic mess that this country is now in. BHO does not, and even if he did, would not personally care to attempt solutions. A well known writer and attorney has recently opined that BHO possibly wants to bring about destruction of this country, and I am one who believes that to be absolute truth. If so, does anyone in their right mindset actually want that to occur? Do they understand that it will effect them personally and extremely so? THINK! IT'S THE GD DEMOCRATS, STUPIDS! Look around you.....do you know friends, neighbors etc that are out of work and have no prospects of employment? Do you daily observe stores/businesses that have recently closed due to bankruptcy etc in you community? Do you think that this is unwarranted and unusual, and that our economy should be turning upward/positively after three and a half years of this presidency/administration? Do you see any indication that this administration is actively attempting to right this economic situation? Are there any DC meetings being held by cabinet officials attempting to come up with solutions????

nathan| 7.11.12 @ 3:27PM

With all due respect sir, in the last three years I've traveled across the land and seen boarded up buildings everywhere I go. I am more aware than most people here of the economic devastation that has befallen this land.

But remember the Constitution says all spending bills originate where? Not in the White House, not in the Senate, but in the House. Presidents are the last person to touch these bills. The blame rests more with the House both under Bush and BHO than it does under either president. There are no such things, CONSTITUTIONALLY as presidential deficits. Presidents on their own cannot spend a single penny not authorized by Congress beforehand.

But and I know you'll disagree with me here, it's more than just the economy. We cannot ignore Padilla's indefinite detention in violation of the Fifth and Eighth Amendments. We cannot ignore the non judicial executions of those three Americans in Yemen. We cannot ignore detainee abuse in clear violation of US law. Because sooner or later it will be us on the receiving end. And MR promises more of the same and that poses dangers to us all. We tread dangerous ground here as we see both republicans and democrats take our rights from us. And tell us beforehand they intend to do so.

Oldefarte| 7.13.12 @ 3:04PM

One does not have to follow your "....traveled across the land and seen boarded up buildings everywhere I go. I am more aware than most people here of the economic devastation that has befallen this land..." in order to educationally understand the dire economic consequences inflicted by this administration [only]. The former one had nothing to do with same, and if you wish to research the true cause of same, try beginning your Google search with the CRA OF 1977. My undergraduate and graduate studies enable me to understand completely w/o Charles Karaulting the globe of what's happening now and the causes of same. If you and yours falsely and ignorantly equate BHO with MR, then I's suggest a reading of THE AMATEUR by Ed Klein, and then to compare BHO's community organizing experience with that of successfully running a Fortune 500 corporation and also a ultra politically liberal state before you make your conclusions!!!!!!

JD| 7.11.12 @ 1:28PM

It is too late to stop this. The American people are too stupid. Too many years of liberal control have ensured that; we cannot reverse such pervasive damage in so short a time.

But to reverse the damage over a longer period of time, so that we might bottom out and begin to rise again, it is CRITICAL that people be made to understand the causes of the problems they're about to face. The reason we've gotten so far is that Democrats have succeeded in blaming conservatism instead of liberalism for problems as they have materialized. It is that deception that has allowed liberalism to grow as it has. Only by ending that deception can we end it.

Those who say that we can reverse the tide without a long-term change in people's understandings are self-deluding fools.

Dixon| 7.11.12 @ 3:30PM

The Scottish economist, Tyler, described the rise and fall of all great republics through history:

From bondage to spiritual faith
From spiritual faith to great courage
From courage to liberty
From liberty to abundance
From abundance to complacency
From complacency to apathy
From apathy to dependence
From dependence back into bondage

BO, in a second term, would get us past America's current complacency and apathy phase and deeply into dependence. And he would have real "skills" to drive us into bondage as our financial system collapses.

Because whatever emerges from the ashes would be our master.

TLP| 7.11.12 @ 5:15PM

Truer words have never been spoken.

It is the story of every Great Empire in Human History.

I thank you for writing this.

The problem is this - I believe that, like Death and Taxes?

It's INEVITABLE.

Pity.

Dixon| 7.11.12 @ 5:59PM

All Patriots who love economic freedom and liberty and its enemies must read Hayek's "The Road to Serfdom".

All Patriots of Faith must read Cahn's "The Harbinger.

Both books offer stern warnings how a free and blessed people use their "free will" to choose self destruction.

When you read both books, you know which path we are on...unfortunately.

We still have time to reverse course. So I will vote for representatives with Faith and Courage....and get involved to help them.

TLP| 7.11.12 @ 6:51PM

You, Sir, are a Breath of Fresh Air on this site.

I look forward to your future posts.

God Bless.

Bob Grant| 7.11.12 @ 4:50PM

As Mark Levin so eloquently put it, reelecting obama to a second term is national suicide.

Thom| 7.11.12 @ 5:29PM

What do the bulk of those unemployed, underemployed and/or living off someone else's money care about the employment rate when they don't need to work in order to get shelter and food?

What do the bulk of those that don't pay income taxes, pay little to nothing of their incomes to taxes in general care about what others have to pay in order to provide them with all the "free" stuff government provides from cradle to grave?

The majority of both groups above are the same people thus nothing is going to change as long as they vote and feel no "pain" from their decisions. Human nature is what it is; by the end of this decade a majority of "voters" will be dependent on a minority of "other people's money". Reason doesn't work with rattlesnakes or immoral and corrupt people.

"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury …"

You know the rest of this quote by Alexis de Tocqueville. John Roberts officially ordained us as a "democracy". It only goes downhill from here without real change....

Suzyqpie| 7.11.12 @ 6:57PM

I've been reading Peter Ferrara for years. Peter Ferrara is a credentialed and achieved scholar. The conversation on this thread is beneath the dignity,the intelligence, and the achievement of the author. I trust that Peter Ferrara will show up and impeach whomever has shown up with this vile thread

spike59| 7.12.12 @ 6:07AM

wipe off your blue dress