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Monday, August 22, 2011
Obama The Deficit Spending President
By Delwyn Lounsbury - THE DEFLATION GURU
Barack Hussein Obama the deficit spending president continues to blame the recent Standard and Poor's downgrade of U.S. debt from AAA to AA+ on everything from the tsunami in Japan, the "Arab Spring" Muslim (Jihadist) Brotherhood takeover in Egypt to the grassroots political movement called the Tea Party (truly a growing libertarian political force that has the Democrats worried).
One thing is for sure, Obama the deficit spending president will henceforth in human history forevermore go down in as the only President of theUnited States of Americato have led this great nation to these depths. We have had an AAA credit rating since 1917 and now thanks to a "progressive president" we are the laughing stock of the world. Next our long term interest rates will rise rapidly in reaction. Economically everything he has tried has failed because all he knows as a community organizer (communizer) is absolutely opposite of American free enterprise.
Mitt Romney said, "Standard & Poor's downgrade is a deeply troubling indicator of our country's decline under President Obama. His failed policies have led to high unemployment, skyrocketing deficits, and now, the unprecedented loss of our nation's prized AAA credit rating."
Obama keeps blasting business for having corporate jets and he insists on raising our taxes to pay for his socialistic economic programs. How many more jobs will be lost when the building and staffing of airplanes comes to a grinding halt? Socialism (now called progressive by the lying mainstream media) really got kick started by Franklin Roosevelt's "New Deal" was goosed by Lyndon Johnson's "Great Society" and now is culminating in "Big Brother" Obama's welfare state, food stamp giveaway and ObamaCare. This means big bloated government at all levels threatens to deflate the economy and hasten the onslaught of the GREATER DEPRESSION. The parasite is finally killing the host. Deflationary depression dead ahead!
Obama is driving a wedge between Americans by making them feel guilty for being successful thereby convincing business people to cut back and not hire, not borrow, not lend and not grow their business or start new ones. Two or three years of nine percent unemployment will surely kick the multiplier effect in economics into reverse and be impossible to overcome. The multiplier means more layoffs as companies looking at their sales numbers on the computer screen quickly make the decision to cut as the economy snowballs downhill in a vicious cycle. In August of 2011 HSBC bank announced it was laying off a whopping 30,000 workers worldwide.
In addition, people unsure about the future curtail their buying and start saving. Already we see a savings rate of five percent up from below zero a few years ago. It was reported today house sales are down again and we are even paying down our credit card balances.
What Standard & Poor's said about the downgrade was: "We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements …falls short of the amount that we believe is necessary to stabilize the general government debt-burden by the middle of the decade."
Finally, this Obama wealth redistribution nonsense of raising the takes on the rich needs to be called what it is – Class Warfare right out of the Communism/Marxism 101 textbook. See my article Obama the socialist communist Marxist fascist Nazi. Obama's use of the word invest or investment 12 times in a recent speech is covert communist code comrade for pet pork projects predominantly proffered politically producing paltry profits if any at all.
I will predict right here the next Obama tyranny (besides having we the taxpayers pay for his $2 million dollar campaign bus and his thinly veiled NATO assassination attempt of Muammar Gaddafi in Libya) will be mudslinging rhetoric and personal attack of his opponents in the 2012 presidential race instead of an honorable debate on the issues and facts. The facts are Obama is ruining the American economy and usurping your U.S.A
Constitution mandated freedoms and rights. The Constitution says what government can not do to us. We need to stand up for it and protect it or all liberty is lost.
Stop the spending? The latest raising of the debt ceiling by our profligate president, Obama the deficit spending president, actually allows the U.S.national debt to increase by $8 trillion dollars in the next ten years to $22.5 trillion. What? It's already $50,000 per every man, woman and child in this country and scheduled to go ballistic with unfunded Medicare and social security entitlements. Entitlements are socialism sucking and redistributing money from workers to non workers and every tax is a price fix hurting business and free enterprise if you want the truth. 40% of us receive some sort of entitlement check each month and only 50% of Americans pay any tax. Its Terminal!
"As government grows – liberty contracts," Ronald Reagan
How you can survive and get rich in the coming deflation and GREATER DEPRESSION. Hurry! The CRASH is coming!
By Delwyn Lounsbury – THE DEFLATION GURU
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