Your Opinion: Obama's policies fail to reverse downturn
Thursday, July 12, 2012
President Obama is such an esteemed leader and has surrounded himself with such brilliant economists, that the following details should provide some food for thought prior to entering the voting booth this November. These details are provided by investigative reporter David Cay Johnston (“America’s Long Slope Down,” reuters.com).
IRS data shows that the average adjusted gross income decreased $2,699 from 2000-2010, for a cumulative loss of $26,000 per taxpayer over the decade. Social Security tax data reveals that the median wage in 2010 fell to the level of 1999, with half of workers grossing less than $507 a week and the 50 million workers in the bottom third of earners averaging $116 a week.
Social Security and Census Bureau data exposing that while the total number of people with any kind of job increased 1.5 percent from 2000-2010, the U.S. population grew 6.4 times faster. Bureau of Labor Statistics figures disclosing that in May of 2012, 14.8 percent of workers were jobless or underemployed, a number economist John Williams argues rises to 19 percent when people who have given up hope of a finding a job are included. Finally (but far from the last of the statistics Johnston presents) shocking Federal Reserve data shedding light on the fact that in the period 2000-2010, household debt per capita rose 42 percent and adjusted gross income per capita only 9 percent.
Even though the president must know these details, he has pursued polices that do not address these policies, but that are driven by his Marxist Leninist ideology and rank political expediency. Some of these policies are: the destined-to-fail, nearly trillion dollar “pork stuffed for political friends only” stimulus bill; the more than one trillion dollars of fiscal lies contained in the 2,000 pages of Obamacare; the devastating economic consequences certain to result from fiscally profligate, politically corrupt, ideologically foolish energy directives; the dreadful price that ultimately will be paid because of a failed promise to reduce the federal deficit by 2012; the social and economic catastrophe looming all the more fearfully because a cowardly and irresponsible president chose to bow to the extremists of his party and summarily dismiss the recommendations of his own debt commission.
Even though the president may not have a clue, we here in fly-over country know exactly how to cure the problem — send Obama into retirement.