16 May 2012 0 Comments

Issues 2012 Part 8: “It’s the Economy, Stupid ” Jobs, Employment and Energy Policy

“It’s the economy, stupid?”James Carville was right in 1992 and he is right in 2012.

     Jobs, Jobs, Jobs and the cost of living

The U.S. economy supports 740,000 fewer jobs today than when Obama became president

Gas prices are up more than 200% since Obama took office.

US Taxpayer government debt is up FIVE trillion dollars since the Obama Administration took charge.

Who can say we are better off after three and half years of the Obama Administration?

The Social Issues are a distraction in this election. The Liberal Media raise these issues to distract from the core issue of the economy.

The issue is Jobs, the economy, the debt and the deficit; the Fed and the Administration have diluted and devalued the currency. It is indisputable that trillions have been spent and the employment rate is anemic.

Few think the real world unemployment rate is down.1

“The “real” unemployment or U-6 rate is 14.5 percent for March 2012, down 0.4 percent from February. This is the total percentage of unemployed workers, plus the marginally attached workers and part time workers for economic reasons.” 2

$15 trillion in debt and $1.5 trillion in deficit and debt where are the jobs. Inflating the currency by government fiat can go only so far and then reality kicks in. Trillions spend and where are the Jobs, Jobs, Jobs.

CaseyObama record of fiscally reckless extremism is unparalleled in American history. In three  years from January 2009,, federal spending as a percentage of GDP has climbed from 20% to 24% while the national debt has exploded from $10 trillion to $15.5 trillion. By the end of his term, Obama will have increased the national debt by a staggering 67%.

Grocery prices accelerate noticeably every time we buy basic groceries.

$4 a gallon gas and how that is affecting families every day.3

These are serious times and we need to focus on those problems that truly are the important issues that will determine this election.

“It’s the economy, stupid.”  Jobs, Jobs, Jobs and the cost of living

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1 There are few who believe the headline number;   The unemployment rate drops to 8.2% for one simple reason: the number of people not in the labor force is back to all time highs: 87,897,000.  Tyler Darden ZeroHedge April 6, 2012  The household survey actually posted a decline in March from 142,065 to 142,034.

From Hope to Hopelessness: Obama’s Economy Has 88 Million “Not In Labor Force” LaborUnionReport (Diary) Saturday, April 7th

The Buffett Rule Obfuscates the Real Debt Crisis Posted by Daniel Horowitz (Diary) April 11th

The fact is there is no way the Buffett Rule, which would raise $46.7 billion in revenue over 10 years, will ever solve the debt crisis, even if you subscribe to the notion that we can and should raise some taxes.

  • Obama has accrued more debt in 3 ½ years than Bush did in 8 years – and Bush was a big spender.  When President Bush was sworn in on January 20, 2001, the total federal debt stood at $5.728 trillion.  On January 20, 2009, the day he left office, the debt had increased to $10.629 trillion, a jump of $4.9 trillion.  Just 38 months later, the debt has increased another $4.992 trillion to a grand total of $15.621 trillion (as of April 9)!
  • Amazingly, $4.577 trillion, or 91% of Obama’s debt increase comes from the public share of the debt, which now stands at $10.88 trillion.
  • We are on pace to breach the $16.394 trillion debt limit before the November elections.  That means that he will have amassed almost (or more than) $6 trillion in debt by the time he, God willing, leaves office next January.  It took from our country’s founding until 2002 to amass $6 trillion in debt.
  • The debt has increased $1.327 trillion in the past 9 months since we “solved” the debt crisis with the Budget Control Act.  That’s about as much as the top 1% of income earners make in 12 months.
  • When Obama took office, the gross federal debt was 76.5% of GDP, while the public share of the debt stood at 45% of GDP.  Now, those numbers stand at 102% and 71% respectively.
  • The debt per taxpayer stands at $137,751, up from $89,330 just 4 years ago.
  • The monthly deficit for this past February was a record $232 billion.  We didn’t start accruing annual deficits of $230 billion until this past decade.
  • In February, we spent $335 billion in 29 days.  It comes out to $11.5 billion per day; $480 million per hour.

$ 70 trillion unfunded liability off the balance sheet like Enron and Lehman Brothers

Remember that none of this even begins to account for the $70 trillion+ unfunded entitlement liability and Obama’s new proposed spending that he wants to pay for with the “Buffett Rule.

2 Republican Study Committee April  6 2012 READ MORE

3  Permitorium: 103 Gulf of Mexico Drilling Plans Await Government Approval February 4, 2011 Heritage Foundry Rob Bluey

Obama’s Ten Worst Energy Policies 11 April 2012 Mike Brownfield Nicolas Loris

 

 

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