The Economics of Failure

The Economics of failure

By election day, Our President will have added $7 trillion to the debt. that is the current debt ceiling. That spending was allowed because of certain promises made by the president. He promised that if his stimulus was passed it would keep unemployment from topping 8%. It sailed right past that mark topping out at 10.3%, and settling around 9.2% He promised that Obamacare would bend the cost curve down. the CBO is now forecasting it to cost $3.2 Trillion over 10 years. And THAT is just the taxpayers cost.

What have we ACTUALLY got for this debt? Unemployment has gone from 7.3% to 10.3% currently settling at 9.2%, BUT this figure is misleading because the labor participation rate has declined by 4.1%, If the labor participation rate was the same as when Stimulus was passed the unemployment rate would now be 12.4% We have deficits at 12% of GDP. FLAT GDP growth. Debt at 102% of GDP.

President Obama has done more to economically destroy this country than any president since FDR. And in an effort to get re- elected this president has decided to abandon his hope and change rhetoric for divide and conquer. He abdicated leadership early on, but now, with few results and fresh out of ideas, he is being weighed down by his own spending and debt. Following the path of Europe is not an option for Us as there is No America to bail us out!