Expect more of the same. Obama’s re-election will have these consequences.
- Record Deficits
Under Obama’s first term, we received 4 straight $1 trillion plus budget deficits. These from the same guy who promised to cut the deficit in half by the end of his first term. Obama’s 2011 & 2012 budgets were so bad that not a single Democrat gave them a vote. The CBO said Obama’s budget would push national debt to at least $20 trillion.
The average budget deficit under Bush comes out to around $500 billion per year. Obama’s average budget deficits have been $1 trillion plus. Obama has already admitted his plan is to follow the same agenda he had in his first term. He wants to “invest,” which is just another word for spend, in more of his failed economic policies, green energy schemes, crony capitalism and social welfare (freebies). Expect more of the same during his 2nd term.
- Record National Debt
Obama excoriated Bush and called him “irresponsible & unpatriotic” for the $4.9 trillion added to the national debt under his 8-year presidency. Then Obama went and added $5.5 trillion to the national debt in his first 3 years and 2 months. Under Obama, our debt to GDP ratio is over 100% for the first time in US history.
Obama and Democrats are threatening to go over the fiscal cliff unless Republicans agree to raise taxes so they can spend more. Obama is the debt king and he now has 4 more years to add to it. This debt is unsustainable or you can think like the 59,837,407 idiots who feel that debt means nothing as long as they get their Obama “freebie.” Expect more spending in his 2nd term.
- Exploding unemployment
Obama, his party and his economic advisers promised unemployment to remain under 8% if his $800 billion stimulus was passed. What we actually received was 43 straight months of 8% plus unemployment and 27 of those months saw unemployment over 9%. Long-term unemployment, under Obama, is at a level that hasn’t been seen since the Great Depression.
Under Obama we also experienced a 30-year low in the labor force participation rate. This is how the 10% unemployment rate in Oct. of 2009 started to drop. Americans started giving up and began dropping out of the labor force, thus not to be counted as “unemployed.”
When these people finally stop enjoying the 99 weeks of unemployment checks, they will reenter the work force which will cause the unemployment numbers to skyrocket. Expect even higher unemployment under Obama’s 2nd term.
- More Executive Orders to Expand Government Control & Ignore Federal Laws
Obama has used executive order as a weapon to usurp power from Congress. Obama has a problem with the US Constitution and it’s separation of powers. Congress is the legislative branch and their job is to act as a law-making body. Obama is over the executive branch and his job is to implement the laws passed by those on the other side of Pennsylvania Ave. Obama has usurped the powers of Congress through his use of executive orders to further his far-left liberal agenda. Obama ignores federal laws when he disagrees with them and uses executive orders to create his own laws.
Obama has used executive orders to stop the enforcement of the Defense of Marriage Act which was passed by Congress and signed into law by President Clinton. Obama issued an executive order that allows states to ignore the No Child Left Behind law. Obama used an executive order to avoid federal immigration laws to stop deportation of illegal immigrants after failing to get his Dream Act passed while his party controlled Congress.
Obama used an executive order extend Homeland Security into local police departments. Obama used a green energy executive order to target emissions. Obama used an executive order to give him control of all communications during an “emergency.” Obama also used an executive order that gives him control of all US resources during a time of war or ’emergency.”
Obama used an executive order to give HHS control of the federal Head Start program. Obama used an executive order to gut the welfare-to-work law signed by President Clinton. Probably the worst executive order was the one Obama issued to indefinitely detain American citizens.
Since the Republicans will control the House and Democrats still control the Senate, Obama will use this gridlock to issue more executive order to avoid federal laws he doesn’t like and to pass laws he can’t get passed through Congress. Obama “just can’t wait” to usurp Congressional powers to implement his “fundamental transformation” of the US under his 2nd term.
- Expanded Welfare State
Obama promised to pull 2 million out of the poverty level thanks to his $800 billion stimulus. After four years of Obama, poverty is at a record high and a record number of Americans are receiving government assistance such as food stamps. Childhood poverty is at a record level. There were approximately 31 million receiving food stamps when Obama took office. At the end of his first term, a record 46.7 million are no on the food stamp rolls. The Congressional Research Service reported that the number of able-bodied adults on food stamps double after Obama suspended work requirements. Expect more of the same under his 2nd term.
- Expanded Big Brother
Under Obama, we now have more government spying. The Obama regime is using social media to spy on Americans. We also learned Obama has a “secret” kill list that has Americans on it. The Obama administration doesn’t care about due process and have decided they are judge, jury and executioner. Obama’s Attorney General, Eric Holder, said that killing US citizens without due process is “legal” and “constitutional.”
Obama also extended the Patriot Act, which he and Democrats harped about under Bush. Then to top it all off, Obama signed the NDAA (National Defense Authorization Act) which legalized secret arrests of Americans, without due process, and their indefinite detention.
Remember folks, this is the same administration who believes WE are the ENEMY should their be an economic collapse.
- More Money Printing and Bailouts
Under Obama, the Federal Reserve, thanks to Ben Bernanke, has devalued the dollar through 3 rounds of quantitative easing. Bernanke promised the Fed wouldn’t monetize our debt but he had to do it to support Obama’s stagnant economy and lavish spending habits. He lied under oath. Despite all this money printing and debt purchasing, the economy is still stagnant. Keynesian economic theories do not work. Obama and The Fed proved this soundly. Now the Federal Reserve will never be audited and Bernanke & Obama couldn’t be happier. Bernanke warned about auditing the Federal Reserve because he knows about the trillions that have been stolen from American taxpayers to bailout banks.
Obama has been bailing out his green energy bundlers with out tax dollars and has promised to continue this failed policy. Obama promised no more bailouts on the taxpayer’s dime then starting handing out taxpayer-backed green energy loans to bundlers with green energy corporations. Obama took Bush’s auto bailout and gave $50 billion more to the union bosses and workers while sticking a $25 billion dollar loss to the taxpayers. The bailouts will continue.
- Higher Energy Costs
Before his election, Obama promise higher energy prices and we got that in his first term. Obama said he wanted higher gas prices but at a gradual increase. Obama appointed Steven Chu to run the Department of Energy. Chu wants American gas prices to be higher like those of Europe ($10/gallon). Under Obama’s first term, a gallon of gas has doubled and been above $3 dollars for almost 4-years. This is the same administration who was held in contempt by a federal judge for their illegal drilling moratorium.
It’s only going to get worse.
Obama will continue to use the EPA to crush the coal industry. He couldn’t get “cap & trade” passed when his party controlled Congress, so Obama and the EPA will go around Congress to enforce it. As Obama stated, “energy prices will skyrocket” due to the coal-powered plants passing these additional costs, from regulations, back down to the consumer. The EPA has been attacking the coal industry hard under Obama. 40% of all US energy come from coal-powered plants. What happens when this companies shut down? Higher energy prices.
- Higher Taxes for Everyone
To pay for all the promises and freebies our entitlement society clearly demanded through reelecting the re-distributor-in-chief, everyone’s taxes WILL BE GOING UP. Obama and Democrats made sure of this with their unread ObamaCare bill (plenty of taxes) and the nearly $6 trillion added to the national debt. Two years after its passage and health care expenses continue to go up.
These are the same who are threatening to increase taxes on every one just so they can tax the productive in society even more (evil 1% who pay most of the taxes that go to support the entitlements & freebies). Taxes are going up as median household incomes goes down under Obama’s presidency. Taxmageddon is on it’s way starting in 2013.
Can’t forget about Social Security & Medicare which are going broke and Obama avoided tackling during his 1st term. Prepare for Obama to kick this can down the road to the next poor sap who has to step in and fix the mess Obama has left him.