Monday, August 8, 2011

President Obama - The Buck Stops With YOU - Really

President Harry Truman, an old style Democrat often said "the buck stops here" meaning with him as the President of the United States.   Truman clearly understood that the President is the moral, military and fiscal leader of our nation.   Socialist President Obama is the great buck passer.   Obama simply will not take responsibility for his failed economic plan even though cards clearly talk and numbers don't lie; though Socialists do lie.  As Obama tried to calm the markets, by blaming Republicans for our nation's economic dismal numbers, shortly after the President spoke, the Dow ended the day by falling 635 points, to below 11,000, to a new low of 10,809.   The price of Gold went up to $1,719 an ounce, a new record.  Investors flea to Gold out of fear.  In this case, investors fear an incompetent Socialist President Obama.   The markets are voting a loud and clear NO Confidence in President Obama.  

Is it any surprise.   Instead of proposing a pro-growth economic plan to calm the markets, Obama again reiterated same old, same old, big government, tax and spend policies that will not restore economic growth, or job creation in America.   Obama wants to extend the payroll tax holiday for another year; ho hum.  Of course, even though unemployment benefits have been extended to 99 weeks, Obama wants to extend unemployment payments even longer.   Many studies show that extending unemployment benefits only causes people to delay taking a job that is "beneath" them.   

In addition, Obama wants more Stimulus Money to fund infrastructure "shovel ready" project even though we already spent a trillion dollars on Obama's SwindleUS Plans 1, II and III and we still have official unemployment above 9.0%.   Unemployment is really more than 17% if all our counted, including the unemployed, those working part time that want full time work and those that have simply given up looking for work altogether.  About 25 million Americans fall into this grouping.  None of these temporary fixes will do anything to restore economic growth and job creation in America.  The proof is in the pudding.  These ideas have all been tried and failed. 

Unfortunately, President Obama's Socialist ideology makes it impossible for him to see a free market solution to economic growth and job creation.   The private sector is sitting on $2 trillion in cash.  It is estimated that there is another $3 trillion dollars in cash, from profits, sitting overseas that could be brought home for investment, if those monies did not face double taxation upon repatriation.   We need a pro-growth economic plan that will allow the private sector to make investments in the United States using all this private sector money, not more government defict spending and borrowing that will bankrupt our nation.  Let me lay it out for the President in simple terms that even Obama can understand:

1.  Cut the current corporate income tax from the 35%, the second highest in the world, to no more than 20%.  Get rid of all other subsidies going to all businesses that distort the free market. 
2.  Eliminate the Capital Gains tax for 5 years, or if that is not acceptable, cut it to no more than 10%.
3.  Allow for a 5% tax on repatriated profits for the next 5 years.
4.  Stop the Environmental Protection Agency from destroying the carbon based energy in the US.
5.  Implement an Energy Plan to make the United States energy independent within 10 years.  This should include development of all energy sources; oil, oil shale, natural gas, clean coal, nuclear energy and renewables that are not feasible today.
6.  Use normal attrition to reduce the size of the federal government, over 5 years, by 500,000 from the current 2.65 million civilian employees.  In doing so, eliminate redundant, wasteful federal programs, commissions, agencies and departments.  Bring federal compensation and benefits in line with the private sector for like work.  This needs to happen at all levels of government since government employees are typically paid 20 - 40% more than is typical in the private sector and it is bankrupting our country.  Outsource as many government functions as possible.
7.  Sell off federal assets/land to private interests to encourage development. 
8.  Cap federal government spending gradually over ten year to no more than 18% of GDP.
9.  Reform the current tax code to make it flatter with rates of 5%, 10%, 15% and 20%.  To protect the poor, those making under $35,000 should pay no income tax at all.  To get to lower personal income tax rates, eliminate the mortgage deduction in stages over 10 years.  Get rid of all other deductions; but the charitable deduction. 
10. Means test Medicare so that those that can pay more, pay higher premiums.  This is already happening; but it needs to be formalized.  Stop politicizing Medicare and solve the problem.
11.  Raise the retirement age for those under 55 years old to 68 years old for full retirement benefits.  Early retirement then would be at 65.  CAP the inflation index and make in applicable only when the CPI exceeds 3%. 
12.  Block grant Medicaid to the states, based on population and let them figure out how to spend the money to best effect.
13.  As another big government entitlement, ObamaCare must be repealed because it is a job killer and it will bankrupt our country.
14.  Enact a Balanced Budget Constitutional Amendment as another check and balance on Congress and the President to prevent future deficit spending.   The only exception should be a formally Declared War, or other National Emergency, as approved by two thirds of the states. 

If these ideas were enacted, the United States would see GDP growth sky rocket, which would allow us to pay off our National Debt and get our fiscal house in order.   However, none of these common sense ideas will happen as long as President Obama and his Socialist pals in Congress remain in power.  To prevent the bankruptcy of the United States, we must sweep these Socialist characters out of office in 2012 and 2014.   The Markets are confirming that President Obama is in way over his head.   Obama may have been a smart college professor, or community organizer; but he just did not have the experience to be President of the United States.  Obama is clearly clueless in Washington.  In addition, Obama has surrounded himself with other egg heads with no business experience.  Secretary of the Treasury Tim  Geithner is clearly incompetent and should be FIRED NOW.   We need a Treasury Secretary who understands Economics 101 to get our nation back on track.

Mr. President, the buck stops with YOU and YOU alone.  You wanted the job.  You got the great house and big jet, now you need to step up to the plate and take responsibility for your actions.  President Obama has destroyed our economy and in 2012 he must pay the price as we make Obama a one term President by electing a Conservative with experience and common sense committed to economic growth.   As every day passes, it becomes clearer that we must take back our country.   We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.   We can't let President Obama pass the buck any longer as he bankrupts our nation.  Obama has to go and the sooner the better.  Tell your friends, neighbors and relatives that Obama is the problem, not the solution. 

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