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Feb 9, 2010 
During the 2008 campaign the Obama worshippers proclaimed he was the “new messiah” and “sort of a God” above it all. They criticized the “VP” candidate Sarah Palin (an accomplished executive) as lacking experience to “lead” and touted the messiah’s experience as a law professor, a community organizer and ability to vote present as the experience needed for president; maybe a liberal president.
Obama knows being a president is above his pay grade. Instead of governing he is making self aggrandizing speeches almost daily trying to convince Americans he is not the “Bolshevik” he is. His over exposure is no different than the Stalin’s, Castro’s, Mao’s and Saddam’s of the world. Instead of murals and statute’s he uses TV and Internet. He has usurped the TV media, traveled to more venues and spent more money in perpetual campaign than Bush and the other narcissist Bill Clinton did in eight years. What has America gained from the Marxist messiah’s policies and over exposure? A decline on the international scene, a decline in national security and a failing economy!
Let’s just look at some results of his catastrophic economic policies. Team Obama and the democrat Congress has given us a $1.6 trillion dollar deficit and increased the debt ceiling to $14 trillion dollars. And despite the new messiah’s pronouncement that he “has broken the back of the recession” and “the U.S. is now in recovery”, credible economist disagree. Nouriel Roubini, who predicted the current financial crisis, forecasted the U.S. economy outlook remains very dismal and is in trouble. Arthur Laffer warned that despite sporadic signs of growth the economy is headed for a “train wreck” in 2011 because of Obama’s unprecedented debt and increased tax rates. John Cogan forecast a dismal economy due to the uncertainty about Obama’s economic and tax policies. The CBO reports GDP might reach 1.8%, unemployment will average 9.8%, deficits will be more than $1 trillion for years to come and the massive debt burden will imperil our country’s future and push public debt levels to 60% of GDP this year.
Obama’s federal budget deficit in 2010 is $1,565 trillion and represents 10.6% of GDP. If his policies continue after 2012 the projections for the debt-to-GDP ratio will rise to 73% in 2015 and 77% by 2020. However, Moody Investors Service reported this understates the overall US debt level and including federal, state and local debt this ratio would be well over 100% in 2020.
The significance of this debt is illustrated by the fears the European Union is experiencing due to the weakening economies and increasing debt in Portugal, Spain and Greece. Portugal is reporting an economic and political crisis because the country has a deficit of 9.3% of GDP for 2009. The point being the US ratio is higher. Couple that with Moody’s warning that unless measures are taken to reduce the U.S. budget deficit or the economy rebounds significantly, the U.S. is at serious risk of losing its AAA government bond rating.
Economist say the deficit could be brought under control if the remaining $500 billion of Obama’s $800 billion stimulus package is not spent and the $500 billion in TARP funds the banks have repaid are refunded to the U.S. Treasury. But what does the Over Exposed-Egotistical-Wanna Be Dictator-in-Chief do? He continues to spend the stimulus funds and proposes a second stimulus package; takes the money the banks are repaying and spends it; and proposes increases in payroll, corporate, estate and income taxes. Arthur Laffer predicts this economic train wreck will end with Obama’s defeat in 2012. Let’s hope so!!!
George Torres
