Wednesday, August 22, 2012

Barack Obama: The Six Trillion Dollar Man

The Six Million Dollar Man Steve Austin ain't got nothin' on the Democrat's favorite president and former messiah. Take a look at the national debt increase by president for the last 30 years:

> Ronald Reagan’s First Term – $656 billion increase
> Ronald Reagan’s Second Term – $1.036 trillion increase
> George H.W. Bush’s Term – $1.587 trillion increase
> Bill Clinton’s First Term – $1.122 trillion increase
> Bill Clinton’s Second Term – $418 billion increase
> George W. Bush’s First Term – $1.885 trillion increase
> George W. Bush’s Second Term – $3.014 trillion increase
> Barack Obama’s First 3.5 years -- $5.3 trillion

As you can see, NO president in the last 30 years has been a piker when it comes to piling on debt:

  • In Reagan's case, he was hobbled by Democrats refusing to cooperate in reducing spending. No libs, this had nothing to do with tax cuts: Revenues to the treasury soared after Reagan cut tax rates. But spending soared as well.
  •  George HW Bush fought one war and lost the spending battle to Democrats. 
  •  The increase in the national debt in Clinton's second term would have been far worse but for the fact that the Democrats got their clocks cleaned in the 1994 mid-term elections and Republicans took over in the legislative branch. 
  •  George W. Bush did many things well but didn't do us any favors on the national debt -- he spent like a drunken sailor, racking up $5 trillion in debt in eight years. 
But Barack Obama, the Democrat's once and fallen messiah, has everyone beat. In just three and a half years, Barack Hussein Obama has racked up over $5 trillion in debt -- more than GW did in eight years. The Congressional Budget Office says this will be the fourth year in a row of $1 trillion plus budget deficits -- a completely unsustainable path. Barack Obama is singlehandedly sinking this economy with his massive debt.This is obviously what Barack Obama wants or you would think he would at least be paying lip service to fiscal responsibility.

But no.

As Fox News Analyst Stephen Hayes pointed out, Obama, who has said at least twice  in the past that it isn't wise to raise taxes in bad economic times, is now running for a second term on a platform of raising taxes in bad economic times. And not just on the "rich". He won't admit it, but he's actually raising taxes on everyone via the "Affordable Care" Act -- Obamacare -- increasing energy prices ("under my energy plan, the cost of energy will necessarily skyrocket", :"they can build a coal plant if they want to but it will bankrupt them" etc.), unreported inflation in food and energy prices and on and on.. In other words, Obama is basically telling us he will bankrupt the country and sink the economy given a second term.

Why will his plan bankrupt the economy? It's part of his "fundamental transformation" of a society that doesn't need "fundamental transformation", it needs fiscal and economic policies that are the exact opposite of Obama's. It needs the Reagan-era approach that brought us out of the true worst recession since the Great Depression -- the Carter Recession. This chart shows the difference between the Reagan and Obama approaches on unemployment 16 months into the Reagan recovery vs 16 months into the Obama "recovery":

Reagan's approach had unemployment dropping three percent. Obama's unemployment rate actually rose. This article explains clearly point by point how Reagan's approach worked and Obama's isn't working. In fact, this article shows how in every instance, tax cuts for all correspond with economic growth and prosperity for all. Too bad our socialist president is a lousy student of American economic history.

So the choice is clear: If you want higher debt, higher unemployment a weak recovery (at best) and life on the brink of economic collapse for your children and grandchildren; if you want the number of Americans dependent on government to push well past 50%; if you want to push the American dream we have all accessed to some extent completely out of reach to your kids within a generation,  re-elect Obama. If you want to try to begin to dig us out of this mess and start clawing our way back in the other direction, elect the guy who has solid business sense, some of Reagan's economic proclivities, and a young VP candidate who is a solid conservative. Elect Mitt Romney. There really isn't a choice here for anyone that cares about the future of this country and of the future of generations to come. Out future depends on kicking Obama squarely out of office this November 6.

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