According to the Commerce Department, the economy based on its Gross domestic product–the value of its goods and services–fell at a seasonally adjusted annual rate of 2.9% in the first quarter of this year. That was the largest recorded drop since the end of World War II in 1945!
In campaigning for the presidency, Barrack Obama inspired popular support of millions of voters by eloquently promising to “transform” America with “fundamental” change. Now his popularity is at its all-time low, his signature legislation, Obamacare, has been a disaster, his highly touted—and extremely expensive—stimulus program has failed. He has done nothing to lower the federal debt or tackle the future insolvency of Social Security, Medicare or Medicaid.And the economy continues to stumble 58 months after the recession officially ended.
Even so, you do not have to be smart with numbers to know that the real state of the U.S. economy is pathetic these days. You can thank Barack Obama for that because, dear reader, he is utterly clueless regarding America’s economy; how it works, and what it needs to work.
In whatever direction we turn, we find the heavy hand of government intruding into virtually every aspect of American society. Indeed, it has reached the point that it would a lot easier to list those areas of people’s lives into which government does not impose itself – and, alas, it would be a very short list. But it was not always that way.
As a longtime book reviewer, I have read a growing stack of books warning about a financial collapse, but Holland’s book is not only based in the actual debt, but is written in a manner that even a person who has no knowledge of this issue can understand.
A common fallacy is that the Great Depression was ended by the explosive spending of World War II. But World War II actually institutionalized the sharp decline in the standard of living caused by the Depression.
Nationwide reduction in food stamp spending is a welcome pause in the metastasizing culture of dependency intentionally brought on Americans since FDR trampled the Constitution to create a welfare state.
According to Henryk Kowalczyk our thinking about immigration is based upon and tainted by 1) xenophobia, 2) on having Socialistic tendencies, and 3) on the failure to practice deliberation democracy.
The dramatic contrast between the results of Obama’s policies and Reagan’s policies have already resolved the debate our current president is having talking to himself on his “economic tour.”
In “Paul Krugman and Detroit, Part 1” I discussed the New York Times columnist’s failure to understand why Detroit currently resembles the United States in Atlas Shrugged. But Krugman’s error[...]