“You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.” ~Abraham Lincoln
By Alden Benton
President Obama has been President for 966 days. In that time, he and his policies have quadrupled the federal budget deficit, increased the national debt by more than 63 per cent, and increased unemployment by 26 per cent.
Now, reports Reuters (Number of poor hit record 46 million in 2010), according to the Census Bureau’s annual report on income, poverty, and health insurance coverage, the president now presides over a nation with more than 46 million people, 15.1 per cent of the nation, living below the poverty level.
This is the largest number of poor in the United States in the 52 years the Census Bureau has been publishing poverty data, stated the Reuters article.
So much for hope and change.
Now, the same president who has failed for three years wants Congress to spend another $450 billion of your money on yet another stimulus plan. I know, they aren’t calling it a stimulus, but the idea is the same — take taxpayer dollars and spend them on projects that will create new jobs to complete them.
We have heard this before.
The president has spent nearly a trillion dollars, that’s a thousand billion, of our money and the unemployment rate is still stuck at over nine per cent.
This type of economic thinking never works in the real world because it ignores the basic fact that government cannot create jobs, it can only create a climate in which it is favorable for private enterprise to create jobs.
There is only one way to stimulate the economy: reduce taxes and reduce burdensome regulations. Once this is accomplished business will expand, entrepreneurs will build, and the exodus of jobs off shore will dwindle.
Until the president abandons his Marxist-Keynesian economic mindset, the United States will continue its economic stagnation.
The chances of President Obama morphing into a champion of free enterprise are slim to none, and slim left town a long time ago.
We cannot let him fool us again.
©2011 A.L. Benton/Independence Creek Enterprises