Barak Obama 44th President of the United States Government
On 9/8/10 President Barak Obama on the campaign trail in Ohio spoke to the American people about the economy and his plan to restart the economy.Again the Republican members of Congress and Republican Minority Leader Boehner were blamed for the recent recession and unemployment loses.
Obama chastised the Republicans for not cowing up to the mistakes of the last 8 years during the Bush Presidency. President Barak Obama said ‘’ there was just the same philosophy that they(Republicans) had tried during the decade they were in power ‘’ and ‘’ philosophy that led to the mess in the first place, cutting more taxes for millionaires and cutting more rules for corporations’', another quote from the President was ‘’ the Republicans come back and offer a credible approach to solving our country’s problem'’. For the President to make untrue statements about the minority party ( Republicans) and past President Bush is beneath the dignity of the office of the President of the United States.
President Obama stating that the past Bush administration’s actions were the cause of the recession without mentioning that the Democrats took control of Congress in Jan of 2007, Obama was in the Senate during the same time, with unemployment at 4.6% (Bush and the Republican controlled Congress ) and the economy in good shape was not mentioned. The recession according to economist started in Dec of 2007, approximately 1 year after the Democrats took a majority control of Congress. That's a fact.
It was in Oct of 2008 that the Democrats with some Republicans passed the Tarp $700 billion financial bail out bill. It has been reported that the $700 billion has been paid back to the treasury with interest. President Bush left office with a $600 billion deficit.
In Jan 2009,candidate Obama was sworn in as the 44th President of the United States government. The Democrats with a SUPER majority Congress and President Obama now had 100% control of the federal government. The 111th Congress promptly, upon URGING from the President, passed the $787 billion STIMULUS BILL without any of the minority party (Republican) members voting for the bill. President Obama stated that ‘’shovel ready jobs ‘’ would put people back to work and that unemployment would not exceed 8%.
The stimulus package is now $812 billion, the revision was made by the CBO. As of today only 65% has been spent, there remains over $300 billion yet to be spent. For President Barak Obama some 21 months later to be asking to spend another $200 billion needs to be questioned by Congress
.There are 14.9 million unemployed workers, unemployment is approaching 10% and the economy is slowing with the national debt at 93% of GDP. Economist agree that any percentage over 90% is a warning sign that spending must be brought under control. The deficit in 2009 was $1.4 trillion, in 2010 it was 1.3 trillion and projected in 2011 to be $1 trillion plus.
Note that the 2011 budget has not been debated or approved as yet. The fiscal year 2011 starts on Oct 1,2010. President Barak Obama proceeded to outline proposals to help to put more people back to work as the economy slows.
The President’s plan : Adding $50 billion in Infrastructure spending, Make permanent a $100 billion Research and Development tax credit Offer a $ 200 billion tax credit for Business equipment for capitol improvements for 2011
A recent pol indicated that 70% of the people are not in favor of anymore spending by the federal government. The arrogance of the President and Congress in huge deficit spending with little results will determine what the new Congress will look like after the election in Nov 2010.
President Barak Obama said that a lot has changed since Nov 2008, when he was elected, ‘’ but what hasn‘t changed is the choice facing this country. It‘s still fear versus hope; the past versus the future. It‘s still a choice between sliding backward and moving forward, that‘s what this election is about. That‘s the choice that you will face in November.’’
Sounds a little familiar, Past President Clinton once said ‘’ it’s the economy stupid’’ when running for re election in 2005.
Your Author Jon Ewall
Jon's website http://www.chicagoconsultant.com/page1.php
Your author is a online marketing consultant of products offered on the internet. Jon’s website blog contains a variety of interesting subjects and articles that he has written
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Barak Obama 44th President of the United States Government click to edit
- Barak Obama 44th President of the United States Government
On 9/8/10 President Barak Obama on the campaign trail in Ohio spoke to the American people about the economy and his plan to restart the economy. Again the Republican members of Congress and Republican...