Fellow voters, we elected Barack Hussein 0bama, hmmm, hmmm, hmmm for the first time 6 years and some days ago (when the electoral vote was counted in Congress, not when the popular vote was cast). Up until then, we had seen the Mr. 0bama making speeches with his “Office of the President-Elect” seal and trying to pretend that HE and not George W. Bush, was the President.
George W. Bush and the outgoing Congress had previously voted for a $400 billion Troubled Asset Relief Program and Mr. Bush committed his part, about $198 billion, by the end of December, 2009. In January, President 0bama spent a bundle on AIG and on automobiles, but virtually no more on banks, bringing the total to $300 Billion. By Dec of 2012, all except $23 Billion of the automobile and $4 Billion of the banks was repaid or written off.http://www.treasury.gov/initiatives/f…
In 2009, Mr. 0bama added another $787 Billion in TARP spending. It was planned for “shovel ready jobs”. A major place that they found to bury it was in state and local governments, buying government jobs. This also became the basis of the budget for the next 4 years, because this spending was included in the total spending because there was no Congressional Budget, just an Omnibus spending bill. The result was that Government was spending over 20% of the GDP, for the first time since the two World Wars (see figure) and taxes are historically higher than even under Clinton and Carter.
So what’s a President to do? Well, in 0bama’s case it is spend more and tax more. The only song that Mr. 0bama can dance to his to this refrain. We now have an industry the size of the GDP under heavy Government scrutiny (Dodd-Frank and banking, 100% of the GDP), over 1/6 of the GDP under Government control (health care), and moves by the FCC and the EPA to control large segments through “equality” and through “water regulations” which will affect both information technology and the US move toward fossil energy independence.
In short, Barack 0bama should learn from Henry Morgenthau: “We have tried spending money. We are spending more than we haveever spent before and it does not work.” http://www.heritage.org/research/commentary/2009/01/get-over-it-new-deal-didnt-do-the-job
However, President 0bama has demonstrated one thing to the taxpayers: his obstinacy. He is willing to keep trying the same thing over and over again, and to expect a different result. Or to make up a result that does not affect reality. The 0bama “economic car” is not only in the ditch, but the gas tank has been drained, the wheels have been stolen/sold, and sand put in the crankcase. However, it is actually being driven out of the ditch and is humming along on the highway right now, according to our President.
In short, ladies and gentlemen, the words “First in War, First in Peace, First in the Hearts of His Countrymen” applies to Barack 0bama only when being compared in the category of “biggest miserable failure”. The next two years cannot end too soon. We need to never make such an egregious mistake again as to elect a narcissistic liar.