Barack Obama, Credit rating, Debt, economy, Executive order, Government debt, king, Obama, Obama administration, Obamacare, Patient Protection and Affordable Care Act, President, President of the United States, United States, White House
By : Matt Winkeljohn
If Barack Obama gets his way, I wonder if he will demand to be called THE President or King?
When you hear people say that Obama is a dictator and he wants to be the supreme ruler of America, do you think it is just rhetoric used by Republicans or do you think there could be some actual substance there?
What I have for you, may be the proof needed to back up the horror stories that you hear about him.
Let me run over some information for you first –
When Obama took office, the official unemployment rate was at 5.0%, with the actual rate (“actual “being people not accounted for because they weren’t collecting unemployment from the state), right around 7.0%.
Since then, the official unemployment rate is 8.0%, with the actual number being closer to 15.0%.
On the first day of Obama’s first term, the debt was $10.626 trillion. That is what Obama and his supporters say was “the mess that the previous administration left” for Obama.
Today, through constant borrowing and overspending, the national debt is $16.9 trillion and rising at the alarming rate of about $12,000 per second.
How is that for what the Obama administration calls “economic recovery.”
With literally thousands of jobs already lost because of the disastrous economic effects of Obamacare, expert economists say that millions more will be lost when the hilariously titled “Affordable Care Act” goes in to full effect in 2014.
To top off the job losses, many employees who are lucky enough to still have a job, have been cut to part time in order for businesses to stay afloat.
We are not talking about huge multi-billion dollar corporations, no, we are talking “mom and pop,” small middle class businesses.
Overspending and printing money
At the tune of $85 billion per month of U.S. currency being printed without any backing, QE3 is fast becoming one of the biggest reasons that the U.S. dollar’s spending power has dropped to nearly nothing.
With the United States global credit rating dropping in 2011 from a AAA to a AA+, dropping further in 2012 to AA and now at AA-, one would think that Obama would try a different approach to economics if he was honestly trying to fix the economy.
We all know that “honesty” is not Obama’s strong suite though.
Read more at: Resist The Tyranny