Category Archives: Economy

Obama sets another record: The worst economic “recovery” in U.S. history.

Obama just keeps making history! “The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.” It turns out that “U.S. GDP “growth” since the “recovery” is now the worst in U.S. history, having just dipped below the heretofore lowest on record.”

However, Democrats believe that the American people are stupid (why wouldn’t they, when 46% of Americans still support Obama despite his failed presidency?)– so they are touting the claim that this is “the best-looking contraction in U.S. GDP you’ll ever see.”

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Obama breaks the law, and knows he’s failed.

During debt-ceiling negotiations to avoid the “fiscal cliff,” the White House informed House Budget Committee Chairman Paul Ryan that it plans to break the law by missing the legal deadline for sending a budget to Congress.

Obama knows he’s a failure– in 2006, he had these harsh words to say about then-President George W. Bush, who added less national debt during his 8-year term than Obama added during his first 4-year term:

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” — Obama

Yes, we have a failure of leadership in the Obama Administration– and Americans deserve better. Well said, Obama.

Obama creates new rules to destroy the U.S. economy

It’s old news that Obama “was a pioneering contributor to the national subprime real estate bubble” that led to the subprime mortgage crisis in 2008.  

Newsflash: “New mortgage rules issued last week by the administration will have the effect of forcing lenders to approve prime loans to borrowers who would normally only qualify for subprime loans carrying higher interest rates and fees to cover the added risk of default… As a result, analysts warn lenders may end up having to “subsidize” riskier borrowers at the expense of other customers… Mortgages carrying a prime rate, or one within 1.5 percentage points of the national average, will have the strongest level of legal protection.  Analysts say this rule effectively limits lenders’ ability to price for risk… Starting in January 2014, when the new rules take effect, borrowers who default on nonqualifying home loans will have the power to “raise a foreclosure defense” against banks… In addition, lenders who underwrite such nonqualifying loans could open themselves up to federal charges if recipients are minorities… As part of recent consent decrees, Justice has ordered several bank defendants to approve prime-rate mortgages for African-Americans and Latinos who otherwise would not qualify for them.” In true Obama style, he has promoted discrimination and bad economic policy in one fell swoop.

Obama nominates another loser for his new Cabinet

After nominating an anti-Israel pro-terrorist Defense Secretary, Obama will nominate current White House Chief of Staff Jack Lew as the new Treasury Secretary (can it be any more obvious that Obama’s nominations are political favors?).

In response, the top Republican in the Senate Budget Committee says: “Jack Lew must never be Secretary of Treasury… His testimony before the Senate Budget Committee less than two years ago was so outrageous and false that it alone disqualifies… To ‘look the American people in the eye’ and make such a statement remains the most direct and important false assertion during my entire time in Washington.”

Obama’s “Cash for Clunkers” program HARMED the environment!

Obama’s “Cash for Clunkers” program had 2 purposes:
1. Help the U.S. economy
2. Help the environment

Well, we already know that Obama’s “Cash for Clunkers” program was an administrative fiasco and wasted $3 billion of American taxpayer dollars. So, it certainly didn’t help the U.S. economy.

Now, we know that “Cash for Clunkers” actually HARMED the environment! By focusing on car shredding instead of car recycling, the “Cash for Clunkers” program “produced tons of unnecessary waste while doing little to curb greenhouse gas emissions.”

Obama’s “Cash for Clunkers” program impressively spent $3 billion to harm the environment. Shouldn’t there be an investigation?

Obama orders a pay raise for VP Joe Biden, Congress, and federal employees– DURING fiscal cliff negotiations

As the country teetered on the edge of the fiscal cliff (caused by excess government spending), Obama issued an executive order to raise the salaries of VP Joe Biden (to $231,900/year), Congress (to $174,900/year), and federal employees in general (~0.5% pay raise).  And what will these government pay raises cost American taxpayers? $11 billion.

Obama threatens to blame Republicans (as usual).

23 states petitioned the White House to secede from the Union after Obama’s re-election. Obama has encouraged his racist supporters, viciously belittled Mitt Romney during the campaign season, and laughed at a “joke” about wanting Rush Limbaugh dead.

But all of that apparently isn’t enough for the self-proclaimed “bi-partisan” and “unifying” Barack Obama. In a valiant effort to become THE most divisive U.S. President in history (beyond any shadow of a doubt), Obama threatened Republican Speaker of the House of Representatives John Boehner during the fiscal cliff negotiations that if Republicans didn’t reach an agreement with Democrats, Obama “would use his inaugural address and his State of the Union speech to tell the country the Republicans were at fault.” In case we had any question about Obama’s lack of class, it’s been reported that after Republican Boehner made a major concession and asked for a compromise from Obama in return, Obama responded: “You get nothing. I get that for free.”

Foreigners own the U.S.

Foreign holdings of U.S. Treasury securities soared to a record $5.5 trillion under Obama.

Obama WANTS the U.S. to go over the fiscal cliff!

Not only is Obama ready and willing to take the U.S. over the fiscal cliff— he actually WANTS America to be brought to ruin! The wishy-washy Speaker of the House, Republican John Boehner, went so far as to offer to raise taxes on higher-income Americans in order to reach a deal– but Obama rejected this “major concession” from the Republicans!  

It turns out that the Democrats themselves proposed “that the House should vote to raise taxes on household incomes of more than $1 million” in May 2012!  But now, after the Republicans agreed to compromise in order to avert catastrophe, the Democrats “are urging their party’s lawmakers to vote against” their own proposal.

Obama: The Trillion-Dollar Deficit President.

“The U.S. federal government’s budget deficit widened in November compared to October, a sign that the nation is on a path to its fifth straight $1 trillion-plus deficit.” In other words: Obama is just about to start his fifth year as U.S. President, and now we are going to have a fifth year of a $1 trillion (or higher) deficit. A vote for Obama was a vote for debt slavery.