Back in Febuary of 2009, Obama demanded that Stimulus II be passed. He guaranteed that the $757 billion package would hold unemployment in check at about 8%. Unemployment is now hovering at about 11.0%, it's 18% if you include the underemployed and those who've given up looking for work. Teen unemployment is about 50%. An astounding 6.3 million Americans have been unemployed for six months or longer. It's the largest number since the government began keeping track in 1948.
The Producer Price Index (PPI) rose 1.4 in December with higher energy costs hitting farms and manufacturers. Unemployment claims rose sharply in January, up to 473,000 - 31,000 more than expected.
|The labor market, hardest hit by the worst recession in seven decades, has lagged the economic recovery that started in the second half of 2009. The economy has lost 8.4 million jobs since the start of the downturn in December 2007.The PPI report may give investors, who keeping a wary eye on inflation following massive efforts by the Federal Reserve to pull the economy out of its worst slump since the Great Depression of the 1930s, something to worry about."The bottom line is that the Fed is going to have some decisions to make at its next meeting, since it seems inflation is now back on the table," said Lancz..|
The United States lost 8.4 million jobs since December of 2007. Apparently the Government's policies at "stimulating" the economy are abject failures. I know it's common sense but many people have a limited understanding of economics. Obama is clueless about economics because he's more interested in promoting his Big Brother ideology.
Unemployment is up, PPI is up, energy costs are up, and what is The Boy Wonder doing about it all? More government bureaus, more Czars, more red tape, more hindrances to small businesses, more printed money coming out of the treasury, and - more TAXES.
And true to form, Obama is going to start lying about Tax Increases. This from the Daily Caller:
|President Obama on Thursday indicated that tax increases on people who make less than $250,000 a year will be on the table when a deficit commission makes its recommendations later this year on how to resolve the nation’s fiscal imbalances.“Everything’s on the table. That’s how this thing is going to work,” Obama said Thursday, moments after signing an executive order creating the 18-member commission.But the White House has already begun to lay the groundwork for their argument that such a recommendation by the panel should not be blamed on the president, who vowed during his campaign not to raise taxes on Americans earning less than $250,000.|
The $250,000 number is a moving target - that's the problem with this guy. If you own a small business, and have gross income of $250,000 this idiot thinks that you're one of "the rich." He doesn't understand, because he's never even flipped burgers at a McDonalds, that you have to deduct your expenses and costs from your GI to get your Net Income. So if you drive a truck, you might earn up to $160,000 but take home only $25,000 after you pay fuel, fines, tolls and licenses.
This is what's dangerous about having politicians in charge who don't understand the free market and the Constitution. Private property and governmental constraints go hand-in-hand at keeping our economy generating jobs, keeping inflation low and avoiding judicial malfeasance.
Malfeasance is Obama's middle name. He needs to simply do the following: Cut taxes (for real), and spend less. He won't because he's a slave to his New Left ideology. He's too busy demonizing big business, creating Class Envy and stealing more and more money from YOU to lay at the altar of the Redistributive Justice gods.
And you want these creeps to run Healthcare?