Obama’s the change all right, and your kids and grandkids are holding the change bag. I have offered the chart below in the past to show you just how the Change Guy has fueled his grand mission of Marxist income redistribution.
Look, the federal government has no bank account—a printing press yes, but not a bank account. What the federal government does have is a checkbook. The checkbook, however, is linked to your bank account. America could not afford progressive income redistribution even prior to the travesty of a failed Obama presidency. Now the debt burden is so crushing that America has, under the Obama watch, lost its AAA-credit rating. Mr. Fred Siegel outlines the living constitution, greater role for government theme of perhaps the four most destructive presidents in American history: Wilson, FDR, Johnson and Obama. And that’s omitting the most deserving Jimmy Carter.
Mr. Siegel writes of Obama’s “lurching efforts to maneuver America into a Scandinavia-style uberwelfare state.” Mr. Siegel’s reasoning is clear, and I trust he is up to date on all the good things going on in Sweden. Be that as it may, a welfare-state theme is sure not pointed to here by Mr. Siegel as a good thing. The Change Guy is way over his head and lacking in any real world experience that could make a difference.
In my nearly five decades of advising America’s small-business owners and conservative savers, I have never witnessed such a level of distrust, disbelief and angst. My clients do not wish to add employees for a wide variety of obvious reasons, foremost being the onerous potential burdens and regulations of Obamacare. America’s small-business owners provide the majority of new jobs in this country. A vote for Barack Obama this November is a vote for fewer jobs for your family, friends and neighbors. No ifs, ands or buts about it. The Change Guy is not the Jobs Guy.
If the goal is to get the jobs engine going, the fundamental appeal must be to the very individuals who can provide jobs. That appeal is in the form of lower taxes, less regulation, a much smaller, less intrusive federal government. I see zero chance with the Change Guy. In fact, I see just the opposite.
In Ayn Rand’s Atlas Shrugged, a novel about a strike by America’s thinkers and creators, the successful are heavily taxed to support the poor. Government subsidizes inefficient businesses at the expense of the more efficient. Freedom is steadily eroded. The end result is a collapse of American prosperity. Sound familiar?
The jobs depression in America is well observed by looking at the average duration of unemployment in weeks. My display shows you that the Obama peak is twice that of prior peaks.
The Joint Economic Committee reports that private payrolls in the Obama recovery (such as it has been) have climbed by a little over 4%. Since WWII, the norm for similar periods has been over 8%. How’s that for an Obama haircut?
And what are the hordes of unemployed doing? Well over 45 million are collecting food stamps. Under Barack Obama’s stimulus-led quasi recovery, food stamp rolls are increasing by about 400,000 per month. And under President Obama, 11 million Americans are collecting federal disability checks—double the number he inherited. What’s President Obama’s proposed cure? A tax hike of historical proportions. How long before Americans are going to wish they were hearing on the airways, “This is John Galt speaking.”?