Since his inauguration Barack Obama has blamed the continuing bad times on his predecessor, George W. Bush. One begins to wonder what the president will leave as an inheritance to the American people? Better yet, what will he leave to his successor?
The president’s assertion is he’s putting the building blocks in place for a stable future. After three-and-a-half years as commander-in-chief, Americans are beginning to wonder what the principles are that govern the building blocks?
The Obama Building Blocks
The economy is close to a second recession, unemployment is well over 8 percent, the debt is way up ($5 trillion), poverty is up, commodity prices are up, home ownership is down, fewer Americans covered by health insurance and education scores slightly south or dead flat.
What has worked for the Obama administration is a huge expansion of federal employment growth. Employment has grown by 77,000 workers – all of which are supported by a shrinking tax base in a dismal economy with high unemployment. There are 1,719 pages of new regulations that have been added to the federal register since January 20, 2009.
What Do We Have To Show For It?
So what do we as a country have to show for this enormous additional debt this administration has heaped upon taxpayers?
It can’t be new energy sources from the billions already wasted (Solyndra is a $500 million dollar example). What new health benefits have emerged from the “good” part of Obamacare released prematurely (wonder why?) before the entire law takes effect in 2014? The massive costs have yet to take hold. What educational improvements have we seen with the massive federal spending in Obama’s tenure?
The answer is little if any after trillions have been wasted on these “investments.”
Obama’s campaign slogan for re-election is to “forward.” If that is what we call the last four years, Americans should shudder at the possibility of another four years of Barack Obama policy.
The scariest part of this whole presidency is what a second term would bring, judging the failure of the first.
The president would be wise if re-elected to actually single out the Bush years as an example of success compared with the numbers he’ll be working with.
Compare 2008 To 2012
During the 1980 debates, Ronald Reagan asked America if they were better off after four years of Jimmy Carter. With that question in mind, compare November, 2008 to the present.
“Forward” is the wrong word
Unemployment rate – 6.8 percent then – 8.2 percent now
Labor participation rate – 65.8 percent then – 63.8 percent now
Federal Debt – $10.57 trillion then – $15.69 trillion now
Medium household income – $50,203 then – $49,445 now
Poverty rate – 13.2 percent then – 15.1 percent now
Food stamp recipients – 30.9 million then – 44.7 million now
Gasoline price per gallon – $2.40 then – $3.60 now
Gold price per ounce – $754 then – $1,636 now
Corn price per bushel – $4.37 then – $5.80 now
Home ownership rate – 67.8 percent then – 65.4 percent now
SAT scores reading / (math) – 502/516 then – 497/514 now
Federal civilian employees – 2,672,000 then – 2,749,000 now
“Forward” appears to be falling back.