The Obama National Jobs Act speech 9/8/2011 used the word "jobs" 37 times and used "pass it now" 17 times. This eclipses his last redundant speech when 17 times Obama said "invest or investments" which is covert communist code (comrade) for political pork payola - probably money never to be seen ever again.
A prime example is the solar company Solyndra of Fremont, California announced filing of Chapter 11 bankruptcy on 9/6/2011 which resulted in 1,100 jobs lost. American taxpayers also lost $535 billion due to a loan guarantee Obama had arranged. Solyndra's venture capital investors are also out $1.1 billion. How many real jobs in real companies could that money have produced? Apparently, Solyndra's outdated expensive technology couldn't compete in the free market. Now the FBI has raided Solyndra's offices and is going through boxes of documents and computer hard drives. Why? Is this a big cover up and the hiding of evidence of an Obama administration failure and big black eye? Solyndra owners reportedly contributed heavily to Obama's campaign and were frequent visitors to the White House.
Obama job losses include a record 30 months of rising unemployment to close to 10% and a record 13.9 million jobs lost since he took office. Back on December 9, 2009 the $830 million bailout did not lower unemployment. On March 23, 2010 the passage of socialist ObamaCare (rationing and euthanasia) now threatens to raise excise taxes on medical device makers causing them to layoff. On September 21, 2010, they announced plans to regulate and tax the internet which could cost 500,000 jobs. On March 23, 2010, Obama announced theU.S.would loan money toBrazilfor oil drilling off their coast. Why not help American oil interests here? On April 20, 2011 the Obama administration blocked building a southern state car factory that would have meant 5,000 jobs. Then, the Obama administration came up with a slough of new EPA job killing regulations. Next, on July 22, 2011, Obama started attacking the private jet industry that employs 1.2 million workers. On August 21, 2011, the Obama government blocked ATT's purchase of foreign owned TMobile which would have repatriated 5,000 jobs back to theUSA. Finally, the Feds raided Gibson Guitar Company over which wood material they use in their American made guitars. Many are saying the raid was due to fact the company is not unionized and the owner is a conservative Republican.
With friends like Obama - who needs enemies? The only sector with job growth was federal government which rose 13 percent during his 2.5 years in office. Frontline on PBS this week reported the DHS (Department of Homeland Security) now employs over one million people and the war on terrorists may have cost upwards of $ 3 trillion. This big bloated government has resulted in the need for more borrowing and deficit spending, leading Standard & Poors to downgrade theU.S.credit from AAA to AA+. President Barack Hussein Obama will go down in history as "Obama the Downgrade President" and "Obama the Job Loss President" and "Obama the Deficit Spending President."
The new Obama National Jobs Act he is proposing will cost $200,000 plus per (temporary) job, while the tax increases to pay for it will be permanent. Huh! It's all planned to be financed by limiting itemized deductions on those making over $250,000, reducing home interest rate deductions, reducing oil and gas company deductions and reducing charitable giving deductions. This will hurt growth, raise prices at the pump, hurt charities and cause more debt and deficit.
In addition, figures September 14, 2011, show 2 million more Americans are under the poverty line of $11,200 for a single person or $22,314 for a family of four. That makes a whopping 15% or 1 in 6 (yes, 46.2 million) of our population living in poverty and the truth is 50% live on half that much due to the high unemployment levels. U.S.poverty totals are at a 50-year high the Census Bureau's grim statistics show. Plus, 1 million more Americans went without health insurance this year. If it wasn't for the recent unemployment insurance compensation extension to 99 months, things would have worsened as they surely will if the cap is not extended again. Idiotic Obama spending and class warfare (wealth redistribution) are just killing more jobs by making businesses give up and quit hiring - the golden goose that laid the golden eggs gone.
The Obama National Jobs Act speech was purely campaign propaganda and there was no proof of how the $450 billion dollars would be paid. Is this just QE3? The Obama jobs loss speech insisted 17 times "pass it now" (I want to get re elected). To me, the upsetting and childish jobs loss speech was presumptuous and arrogant and is just prelude to more spending and more class warfare from misguided Obama the socialist, communist, Marxist, fascist, Nazi.
More at my website about how to survive and get rich in the coming deflation and Greater Depression... Hurry the CRASH is coming. By the way, you can plan on 35+ percent unemployment by 2016.
Copyright 2011 by Delwyn Lounsbury - THE DEFLATION GURU
Use of this article allowed with attribution back.Get your FREE 90 page download "Deflation Guide" at:A http://www.deflationeconomy.com
Delwyn Lounsbury - THE DEFLATION GURUA is a Eagle Scout.A Hurry the CRASH is coming!Published at Sooper Articles - Submit Free Articles http://www.sooperarticles.com
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