Obama's SwindleUS Plan - A Complete Failure

While President and Mrs. Obama were off in Denmark wasting time and tax payer money pitching Chicago for the Olympics, the unemployment rate went up to 9.8% in the month of September. In fact, the real unemployment rate is about 17% when those who are off the roles and/or who have stopped looking for jobs are included in the total. 263,000 more jobs were lost in September and there were 551,000 new claims for unemployment benefits. As another ominous sign, both consumer confidence and manufacturing fell in September.

As someone on the front line of business in the U. S. and around the world, I can say without any question that Obama's SwindleUS Plan is a complete failure particularly since only 14% of the $780 billion in deficit spending has even been spent. As such, it is just plain baloney for the Obama Administration to otherwise claim that the SwindleUS Plan has saved jobs when in fact it has cost jobs. The stock market has gone up because major corporations have cut millions of jobs to lower expenses, since Obama was elected President, not because business is up. And, many of those jobs are never coming back as companies implement restructuring to reflect the "New Normal".

In addition, while Cash for Clunkers resulted in the sale of about 700,000 mostly foreign cars as people were bribed to buy cars and take on debt to do so, auto sales for GM, Chrysler and Ford have now plummeted. GM reported a drop of 45%, when compared with September of last year. Chrysler was down 42%. Ford the only American auto maker that did not take a government bail out was down just 5.1%. Obviously, Cash for Clunkers was a waste of tax payer money rewarding people that probably would have bought cars anyway at some later date. And, the loss in sales for GM and Chrysler, both part of Government Motors, is a repudiation of Obama and the Democrat Socialists that control Congress and their bail out strategy. People are mad as hell and they are taking it out on these car companies.

If the Obama Administration really wants to bring about economic recovery, they must abandon the same Keynesian economics implemented by Roosevelt during the Great Depression which resulted in high unemployment of 12% or more throughout the thirties and did not end the Depression. Roosevelt increased government spending, regulations, taxes and tariffs, the very same things Obama is doing and as result the Great Depression lasted many years longer than necessary. Instead, President Obama should make the Bush tax cuts permanent, cut corporate income taxes from 35% to 25%, raise the limits on the Estate Death Tax, and provide incentives to companies instead of penalties to deal with job creation, providing health care benefits and "global warming". And, of course, Obama must end the Trillions in deficit spending, which is happening at the expense of the private sector and will ultimately bankrupt our country. If these things were done, the stock market would go through the roof and companies would start hiring again.

However, President Obama will not do what is necessary to end the economic recession/depression, because as a left wing Socialist, Obama wants to use the "crisis" to grow government at the expense of the private sector. Growing government is the basis for the SwindleUS Plan, HealthScare and CAP and TAX. The telling tale occurred during the campaign. George Stephanopolis, the liberal ABC Newsman, and former Clinton aide, hardly a Fox News rabble rouser, asked Obama a question that says it all. Stephanolpolis said to Obama, "History shows that when Capital Gains taxes are lowered the federal government actually takes in more revenues and when these taxes are raised (which Obama was and is proposing to do) that the federal government actually takes in less revenues." Obama acknowledged this fact; but then went on to say that it still would be "fairer" to raise Capital Gains taxes so the "rich" pay more in taxes. The "rich" Obama is talking about is anyone who sells an asset at a gain, not just multi-millionaires. As a Socialist, President Obama clearly believes in redistribution of income even if it results in slower growth, higher unemployment and a lower standard of living for our people because it is the way to grow government until the bankruptcy balloon burst which surely will happen.

President and Mrs. Obama flew to Denmark in separate planes at considerable expense to pitch Chicago for the Olympics. They went their to support the Friends of Obama in Chicago, arguably the most corrupt city in the US, because their friends stood to make hundreds of millions of dollars if the Olympics came to town. President Obama believes that US and world history began with his election. Obviously, the bloom is off the rose as Chicago was eliminated from consideration and did not even make it as a finalist. In addition, Obama is now at a 47% approval rating in the US and still falling. Perhaps, now President Obama can start focusing on the US economy which is in shambles and his role as Commander and Chief instead of continuing to act as Campaigner in Chief. Millions of people out out of work with no hope of finding a new job unless the private sector begins growing again. If proper action is not taken soon, many more will lose their jobs. The SwindleUS Plan is not the answer. Mr. President if you want to succeed on behalf of the American people, it is time to get out the Ronald Reagan play book, instead of looking to failed President Jimmy Carter as your model. Carter was a one term President, which will be President Obama's fate if this economic recession/depression continues much longer.