Sorry for the break in posting; unlike most Americans, my work (which isn’t blogging, by the way) has been keeping me extremely busy.
A quick post about the economy since it seems to be the issue that is currently destroying the confidence of the American people.
Our current President was elected in part because of supposed superior knowledge about law, international matters, and science. While there is now good reason to question his knowledge in those areas, where he seems to be lacking in intellectual prowess is the area that is currently the most critical – mathematics.
Shortly after taking office the President pushed through an 800 billion dollar stimulus package, with the warning that if we didn’t pass a budget busting bill, unemployment would go to 8%. The stimulus we were told would create jobs and end the economic slide. And so with a solid majority in congress, Obama easily passed the package.
Over a year later, unemployment hovers around 10%, over 4 million jobs have been lost, and the slide continues at a steady pace. The stimulus is by every measure a complete failure and only served to greatly increase our national debt, in a generation spanning fashion.
Now the Senate is about to spend another 15 billion to create new ‘jobs’. Potentially the bill could balloon to 155 billion – this all before the previous failed stimulus bill has been fully spent. There is not a single shred of evidence to suggest such a bill will help – and there are in fact 800 billion reasons to believe it is a bad idea and will do nothing but sink us even faster into disastrous nation destroying debt. The confidence hit mentioned earlier tells us that the vast majority of Americans know this intuitively; the President and Democrats are apparently too smart to do the basic math.
One hopes that the November elections will stem the bleed-out – prayerfully it won’t be too late for some sort of recovery.