The Fundamental Transformation Of America By Barrack Obama

By Audrey Howard on February 21, 2010, 7:38 am

Seven decades ago, Franklin Delano Roosevelt said that the only thing we had to fear was fear itself. Today it seems that Obama seems to think that the only thing he has to offer is empty hope itself.

Jobs

When Barack Obama took office, he told people that his $787 billion stimulus plan would create 3.5 to 4 million new jobs. Well, here we are a year later, and according to the BLS, this great country has actually lost 4,022,000 jobs. Maybe our President was just holding his chart upside down. He may have “inherited” a bad economy, but the reality is that he has done nothing to stop the bleeding that has been going on since December 2007.

Deficit

Does anyone remember five years ago when MoveOn.org wanted to air an ad about how Bush was going to increase the deficit by $1 trillion in four years and who was going to have to be responsible for that? Well, Mr. Obama has taken that to a new high. The previous record of $455 billion looks like a child’s allowance compared to Mr. Obama’s incredible act of bravado, catapulting the deficit by a whopping $1.42 Trillion in one year. In addition, he has projected that the deficit is going to increase $9.1 Trillion in the next decade. This is nearly as big as every other President combined.

 

And what do we have to show for this? Unemployed people are earning $25 more per week, but get this, for the 10% of people who are out of work and relying on that, your unemployment is still taxed! Yes, really. The first $2,400 in unemployment compensation is exempt from the tax but anything over that is taxable at 10% of your income. It’s one kick in the head to have to rely on unemployment. It’s another when the Federal Governments wants a piece of that action too! Truly, Obama and the banks are trying to destroy the middle class and create a huge underclass in America, one that relies on the government more than anything, as we’re approaching a socialist state in the United States.

Related posts:

1. Americans Will Have To Borrow $1.2T To Pay For Obama’s $3.8T Budget
2. U.S. Deficit: CBO Reporting Lees Than Last Year
3. Obama Orders US Congress Use Pay-Go Spending Policy
4. Congressional Budget Office: Federal Debt Will Double By 2020
5. Nancy Pelosi Makes It Clear: Democrats Are Not Happy With Obama