Has Obama Earned Our Votes?
That is a great question. His true believers will shout yes from the rooftops. Those not so enamored by the gentlemen will spray raspberries. Let us look at a few statistics and try to stay objective. As for my opinion, I will just state a few facts and figures and let you decide. I will attempt to be objective and stay with the facts; however, my Libertarian bend might surface.
To begin, I will cede the point that economically we had some major issues, of which the largest was the home market debacle which triggered an avalanche across the world. The blame lies with most, and probably all, of our leaders of the last 30 years for this doozie. It was not a Bush thing, truth be told, as we so widely hear. As a 30 year mortgage veteran, I know of which I speak. So the house of cards collapsed and it was time to rebuild. Hope and change implied that all would be healed by various forms of government intervention. As those who study economics are aware, the free market heals it's excesses better than any intervention can. Too bad we did not allow the markets to clear properly. We would have been the better for it.
So the promises to heal have been accompanied by the same old liberal playbook such as infrastructure spending and more teachers etc. Unfortunately the 2000 shovel ready projects VP Biden promised did not exist let alone materialize. The trillion dollar stimulus went mostly to states and favored constituents meaning it did nothing for the many and something for the few. Result is unemployment is far higher than it should or could have been. Federal spending has also rocketed by $1 trillion dollar each and every year since Obama took office.
Poverty is up. Food stamp usage is up. Oil prices have more than doubled. Job growth is anemic at best and offset by continued weekly layoffs. GDP is stagnant but moderately positive yet having dropped for three straight years. I can hear you screaming "but stocks are up". Of course they are as the fed has pumped trillions in to the financial system and stocks are where the better returns are historically. As you most likely know, none of the above is beneficial to the lower and middle income category. The 1% however have benefited greatly. What a paradox and does this record deserve your vote?Continued on the next page