Friday, July 27, 2012

Second Quarter GDP Growth - Dismal

During the second quarter, the months from April to June, 2012, the US Gross Domestic Product, (GDP) fell to a dismal 1.5%.  In order to make any real dent in unemployment, the US needs GDP growth of 3% or more.   This is happening because consumer confidence has fallen in direct relationship to our confidence in Socialist President Obama's ability to manage our economy to restore economic growth and jobs creation again in America.   In other words, the American people are afraid to make purchases because they see Obama's failed Socialist Schemes and proposal to redistribute their income, through higher taxes and more regulations.  As such most Americans just don't know if they will have the money to pay for big purchases so they have stopped buying further retarding economic growth.

Obama and his Socialist Pals in Congress want to raise taxes on people earning more than $250,000 a year.   That may sound like a lot of money to most people; but it includes about a million small businesses that file their tax returns as individuals rather than as corporations.  These small businesses employ about 70% of all  Americans.   And, while Obama has stated that small business owners and entrepreneurs owe their success to him and the federal government, which is outright baloney, raising taxes on small businesses, or anyone during Recession or a period of slow growth, will lead to a deeper Recession or Depression in our country.   Obviously, if small business owners have to pay higher taxes, they will have less money to invest in their businesses and hire more employees.  As always, raising taxes is a job killer.  Further, ObamaCare has 26 tax increases in it that will impact 75% of middle class Americans.   Experts estimate that the ObamaCare tax increases alone will cost nearly a million jobs.   

Obama and his Socialists pals in Congress claim that life was wonderful when Clinton and a Socialist controlled Congress raised the personal tax rate from 35% to 39.5%, which is what they want to do again.  The fact of the matter is that about 18 months after Clinton raised taxes the Dot Com boom went bust and higher taxes resulted in a Recession.  In March of 2001, right after Bush II took office, the US was already in Recession made worse by 9/11, which happened a few months later.  It was only the Bush Tax Cuts that revived the economy and got our nation back on track.  Many forget that for most of the Bush II Presidency, unemployment was below 5% since we had real GDP Growth above 3%.  These are convenient facts that you will never hear from Obama or other Socialists in government because they will lie, cheat or steal to stay in office.  

We need GDP growth above 3% consistently, every quarter, to experience economic growth and job creation again in America.   This will not happen as long as Obama and his Socialist pals in government remain in office, which is the reason we sweep them all out of office in 2012 and 2014.   Instead, we must elect Conservative grown up's that took and passed Economics 101.  The only way to grow the economy is to shrink the size of government and at the same time cut taxes and regulations to unleash the power of the private sector to create real jobs, not sham short term jobs, with more of Obama's SwindleUS money. 

We have to take back our country in 2012 and 2014.   We can do it.  We must do it to preserve our freedom, our nation and our way of life for the sake of our children and grandchildren.   Obama's 1.5% GDP Growth, after borrowing and spending a Trillion dollars on his SwindleUS Plan and adding $5 Trillion to our $16 Trillion National Debt, has failed to restore economic growth and job creation again in American.   Obama had his chance at the bat and struck out.  Obama has to go to end the misery, poverty and lower standard of living he has created in America. 

P.S.  To donate to Mitt Romney's campaign to make Obama a one term President, just go to and click on Donate.   Once on the page look for the line that says, I know my Referrers number and click on the box.  Type in 8544, the National Freedom Forum Referral number to make our voices heard.  Give as much as you can to take back our country

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