Obama’s impact on the US economy is similar to that of WWII; except we had jobs then! It is the Kenyan* Jerkwater’s “summer of recovery.” Enjoy, everyone as you thank Obama.
Obama’s next cure for the economy is to eliminate entirely the borders of the United States, and see who shows up for free health care or to sell drugs.
Or maybe that comes right after “skyrocketing” the cost of energy to save the world from Obama’s imaginary global warming.
Obama has put America on a long march, BUT HE SAID HE WOULD DO IT. The objective? It is not freedom. The objective of this or that long march has never been freedom.
Obama has not economic clue 1. If you study what Obama says about socialism, race, Marxism, removing American exceptionalism, it becomes clear where Obama’s expertise lies.
Obama is no historian; Obama is no economist, Obama is no constitutional lawyer, Obama is an angry, racist, Marxist. Exactly like his moral adviser for 20 years. What Obama and Jeremiah Wright call “mentality” is widespread, proven, disastrous failure.
“Land of the greed and home of the slave.” Obama is changing it. This is job #1, NOT OIL SPILLS and NOT DEFENDING THE CONSTITUTION or DEFENDING THE RIGHTS OF AMERICANS IN AMERICA.
The federal debt will represent 62% of the nation’s economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget outlook released today by the non-partisan Congressional Budget Office.
For more detail on the report, check out this post in USA TODAY’s The Oval.
Republicans, who have been talking a lot about the debt in recent months, pounced on the report. “The driver of this debt is spending,” said New Hampshire Sen. Judd Gregg, the top Republican on the Senate Budget Committee. “Our existing debt will be worsened by the president’s new health care entitlement programs…as well as an explosion in existing health care and retirement entitlement spending as the Baby Boomers retire.”
At the end of 2008, the debt equaled about 40 % of the nation’s annual economic output, according to the CBO.
The report comes as the National Commission on Fiscal Responsibility and Reform meets today. The group, created by President Obama, is expected to issue recommendations in December to curb the debt – a point Democrats raised today.
The CBO report “reinforces the importance of the work being done right now by the president’s fiscal commission,” said Sen. Kent Conrad, D-N.D., who chairs the Senate Budget Committee. “We simply cannot allow the federal debt to explode as envisioned under CBO’s projections. The economic security of the country and the quality of life for our children and grandchildren are at stake.”
*Obama’s wife deserves all credit for discriminating Obama as a Kenyan. I will take full credit for the “jerkwater” refinement.
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