Tuesday, July 07, 2009

Obama Will Go Down in History As The Destroyer

Investor's Business Daily lays out Obama's plan for wrecking our country. Who needs enemies? His administration will cause more destruction and wrecked human lives than any warmongering country or two-bit dictator from the middle east. What are we as Americans doing about all this anti-business, anti-American values, big government and power grab coming out of Washington? Where are the Conservatives? Who will defend us from this destruction?

...At this point in a normal downturn lasting 11 months, the economy should be booming — with big jumps in GDP and 300,000 new jobs each month coming mostly from the private sector.

But 18 months into this downturn, we're still losing jobs — with 2.7 million gone in the private sector just since January, when the Democrats took full control of the government.

Shrinking GDP has crushed investment. First quarter gross private domestic investment — a proxy for business investment — plunged 20%, or nearly $450 billion, annually. The outlook is grim.

Worse, the June jobs data mark a milestone of sorts: Our unemployment rate equals that of the no-growth Eurozone nations.

Why is this job decline happening? The private sector — the real engine of economic and job growth — won't hire because it's scared of what it sees coming out of Washington.

On the horizon, as far as the eye can see, are higher taxes, uncontrolled spending and layers upon layers of new regulations.

Who would hire new workers faced with that?

Also, the federal government is meddling in the private sector as never before — in essence, nationalizing two of the three major carmakers ...

• Health insurance reform: Estimates for reforming our medical care range from $1 trillion to $3.6 trillion, with much of the bill footed by businesses. All to take care of 46 million uninsured.
But 10 million of those aren't citizens. And according to former CBO chief June O'Neill, 43% of the total could afford to buy coverage but don't. So the problem is much smaller than people think.

As for current plans to take over our health care system, they'll barely help. According to Congress' own think tank, spending $1 trillion will only remove 16 million from the 46 million uninsured.

• Cap and trade: A major reshaping of our nation's energy policy will include massive new taxes, mostly on businesses, and cause our economy to crater. Most depressingly, despite taxing businesses and consumers to the hilt, the Waxman-Markey climate stabilization act will not remove one ounce of carbon from our atmosphere over the next decade.

It's nothing but a huge scam that will bankrupt any business that relies heavily on energy...,

Taken together, all these new programs would mean sky-high new taxes, more regulations and the biggest expansion of government since FDR's New Deal.

That's not a good thing. Unemployment during the New Deal averaged 17%, and government meddling turned what should have been a garden-variety downturn into a 27% collapse in GDP — the Great Depression.

Washington seems desperate to duplicate that failure. (READ the whole article here)

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