by: the Common Constitutionalist
The other day Rush Limbaugh spoke of an article posted on Zero Hedge. If you’re not already – you should become a regular reader.
The article entitled “33 Shocking Facts Which Show How Badly the Economy Has Tanked under Obama.” Okay, it’s a bit wordy but it does alert you.
After reading it I couldn’t let it go without editorializing on at least some of the 33 facts.
If you’re an Obama sycophant, you may want to make yourself a little sign to hold up while reading. When you feel “The One” has been somehow maligned, just hold it up in front of you. The sign should simply read, “It’s All Bush’s Fault” or “Obama Inherited This Mess”.
Once a month the “jobs” or employment numbers are released. Oftentimes the media hail improvement in the figure, as if we were heading in the right direction. What they fail to report, due to agenda or ignorance, is that, “#2: Since Obama has been president, seven out of every eight jobs that have been ‘created’ in the US economy have been part-time jobs“.
That is an astounding figure and ties directly into the reason that, “#4: It is hard to believe, but an astounding 53% of all American workers now make less than $30,000 a year”.
Now you’ll notice the last quote stated “American workers“, for we’ve seen and heard that many welfare recipients clear far north of $30,000, tax-free.
I wrote an article some time ago trashing LBJ’s “Great Society” and “War on Poverty”. In it I stated that the poverty rate when the “war” began in 1965 was about 10%. Decades later and trillions of dollars of transfer payments later led to a rate still around 10%. Well, sad to say, there is an update: “#14: The poverty rate has shot up to 16.1%. That is actually higher than when the war on poverty began in 1965”.
Which dovetails directly into: “#15: During Obama’s first term, the number of Americans on food stamps increased by an average of about 11,000 per day”.
I live in a city of about 100,000 people. That means every 9.5 days the entire population of my city is added to the food stamp rolls. Incredible!
College, higher education can be important. It’s essential for many vocations, but it’s not for everyone. Yet it’s what we are told – to achieve you must go to college. So parents/students take out massive loans to pay for school. Then what? “#23: In 2008, the total amount of student loan debt in this country was $440 billion. At this point, it has shot up to about $1 trillion.”
Why so much? Well, debt is the amount one owes – hasn’t paid back. If one has no job, how is one to pay the debt? Couple that with the crony socialism of the university’s ability to continually raise their tuition rates without suffering any Administration or media backlash and voilà, massive student loan debt.
Putting a bold punctuation on this is: “#33: When you break it down, the amount of new debt accumulated by the US government during Obama’s first term comes to approximately $50,521 for every single household in the United States. Are you able to pay your share?”
Well are you? This country, like those in Europe, cannot continue down this path. If things don’t change, and I mean radically and quickly, that $50,000 payment will come due.