A mind numbing collection of 70 facts about the U.S. economy appeared on the blog the economic collapse and is probably not going to hit the mainstream since corperate media is just the propaganda branch of the Democratic party. Barack Obama needs Americans to be complacent and to blindly believe what they see and hear on television and read in the newspapers. Remember, the President recently commented on his own economic policy, ”We tried our plan — and it worked.” Yes, Obama actually said that. However, you NEED to read this list before casting your vote in November.
BugoutAlley has pulled 10 from the list of 70 here:
- The price of gas – When Obama took office, a gallon of gas cost you $1.85. Today, it’s up to $3.59 per gallon (July’s rise was 17 cents a gallon).
- Paycheck to Paycheck - According to a recent Gallup poll, only 60 percent of all Americans say that they have enough money to live comfortably.
- Tax Freedom Day – Americans work 107 days each year just to pay Federal, State, & Local taxes – That means you don’t earn a penny until April 18th.
- Long-Term Unemployment – More than 30% of unemployed Americans have been out of work for more than a year – In 2007, that number was 10%.
- Hope you like your house – U.S. housing prices are now down a total of 35 percent from the peak of the housing bubble.
- Resorting to monetizing our massive debt — In 2008, the Federal Reserve bought “negligible” amounts of our debt, last year the Fed purchased 61% of the government debt issued by the Treasury Dept.
- Decline of the US Dollar” – The price of gold when Obama was inaugurated, $850 an ounce. Today, gold is over $1500.
- The Lack of Retirement Savings – According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.
- Another (bad) trade record set with China – In 2011, our trade deficit with China was almost $300 billion dollars. That is the single highest deficit that one country has had with another… ever.
- A ridiculous amount spent on worthless studies like Why do chimps throw their poop? – Almost $600,000 of your tax dollars was sent to the folks who studied chimpanzee poop tossing, plus $198,195 paid to find out if “tweeting” makes people happy… It’s all HERE.
It is becoming obvious that a global financial crisis is becoming more likely, as the Democrat party and their media elites bury their heads in the sand. As Europe is dealing with the consequences from a socialist nanny state, we need to be a world leader and the Obama administration is not even leading from behind. Historically, the world could look to the United States for leadership and financial stability. Unfortunately that option is no longer on the table. The current occupant of the White House hasn’t a clue, except to find a way to win reelection through distraction and class warfare – calling a balanced economic path “Romney-Hood” – while promoting his fiscally suicidal policies. The Federal Reserve, having essentially printed trillions of dollars only stalling the inevitable, is out of options except to reprise the same policy, thereby exacerbating an already precarious situation.
When will this current situation turn into a crisis? Well, confidence is the key issue factored into the equation. It was Thomas Jefferson who famously wrote that “if a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be.” If we re-elect a President of the United States who is so self-absorbed, incompetent, and without coherence in his personal beliefs then we will be only holding the American economy hostage.