Saturday, August 21, 2010

The Telling Tale - Business Closings & Foreclosures

During this election cycle, President Obama and the Socialist Members of Congress, running for re-election are playing the "blame Bush" and "it would have been worse game" had they not enacted Obama's SwindleUS Plan. Oh really? They talk in terms of "saved jobs" even though three million jobs have been lost since the deficit spending, trillion dollar SwindleUS Plan became law. Maybe some public employee union jobs have been saved; but for every one of those saved jobs, one or two have been lost in the private sector so there has been no new net job creation since Obama was elected. In fact, these Socialists have made matters worse as they did during the Great Depression under Roosevelt's failed New Deal.

Currently, there are more than 25 million Americans either unemployed, under employed working part time, or who have just given up looking for work. There are almost 5 million Americans collecting unemployment weekly payments. That number would be higher; but many have been out of work for more than 99 weeks, almost two years and their benefits have expired. 300,000 homes a month are going into foreclosure.

And, here is the telling tale that really demonstrates the failure of Obama's economic policies. As of the fourth quarter of 2009, 6.6 million private sector jobs were created. That sounds really good except that in the same period 6.8 million jobs were eliminated and thousands of businesses closed their doors. While it is true that 180,000 new businesses opened in the fourth quarter of 2009; the fact is 240,000 businesses closed in the first quarter of 2010. You don't have to be a mathematical genius to see that these numbers are going in the wrong direction. The US is losing more jobs than are being created and more businesses are closing than are opening.

All of this is leading to foreclosures as people either lose their jobs, or realize that they are so upside down (owing much more than the value of their homes) that it makes more sense to walk away from their homes than to stay and make payments. This is causing a vicious circle as foreclosures in a neighborhood drive values down even further, which then causes even more foreclosures.

President Obama and the Socialists that control Congress just don't get any of this because they don't live in the real world. They think they can borrow from the Chinese and deficit spend their way out of this mess; but that is only making matters worse. These Socialists actually think that raising taxes and placing more onerous regulations on business will somehow cause the private sector to boom. What are these Socialists smoking? The private sector is holding on to cash rather than make investments and create jobs in the United States because of Obama's Socialists Schemes. If any thing more jobs are going overseas to avoid the higher medical premiums that are the result of Obama's costly HealthScare Plan.

And then, while the Senate has yet to act, Socialists in the House of Representatives have already enacted Obama's CAP & TAX Plan that will raise the cost of energy and therefore production in the United States. Obama plans to use the Environmental Protection Agency to implement CAP & TAX, with or without Congressional approval. CAP & TAX is hanging over the US economy like an anvil ready to drop, which is the reason why the private sector is not making investments that would create jobs in the US. Finally, if the Bush Tax Cuts are allowed to expire at the end of 2010, which will otherwise occur, if the Congress does not act and soon, small businesses, the majority of which are S corporations, along with anyone who owns stock or other investments will experience a huge tax increase. Those who own public and private corporations are not hiring because they anticipate all of the higher cost coming from Obama's Socialist Schemes, which are job killers.

We have got to take back our country in 2010 and 2012 by electing Conservatives who support free market capitalism, limited government, lower taxes and less regulation, a balanced budget, term limits, a strong national defense, including securing our border and fighting Terrorism, real energy independence and health care reform, the right to bear arms, the sanctity of life and family values. This is the winning platform supported by the majority of the American people and the only way to restore economic growth and jobs.

Most important, we must sweep these Socialists out of office and elect Conservatives, who support the Constitution, as written by our Founding Fathers, not as contrived by the left wing media, Socialists Obama, Reid, Pelosi, former Presidents, Congresses, or the Courts. We must take back our country in 2010 and 2012. We can do it. We must do it to preserve our freedoms, our nation and way of life and for the sake of our children and grandchildren.

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