So, how do you suppose future generations will come
to look back upon the presidency of Barry “Almighty”? Now I’m quite sure there is very little doubt
that many on the left, as well as nearly all in the black community, believe
that Barry deserves nothing less than to be compared to Ronald Reagan. This despite the fact, which should be
obvious to even the most casual of observers, and in spite of his riding into
office on the promise of “Hope and Change” and to “fundamentally transform” the
country, that what Barry will be leaving behind is a country that is so much
worse off than it was when he came into office.
As a for instance, in the budget message that he
recently sent to Congress, Barry portrays himself as a president who led
America back to economic good times. And in blowing his own horn Barry wrote,
"When I took office, our nation was in the midst of the worst recession
since the Great Depression." And he
goes on to say, "The economy was shedding 800,000 jobs a month. The auto
industry was on the brink of collapse and our manufacturing sector was in
decline. Many families were struggling to pay their bills and make ends meet.
Millions more saw their savings evaporate, even as retirement neared.”
Barry went on to say, "But thanks to the grit
and determination of the American people, we rescued our economy from the
depths of recession, revitalized our auto industry, and laid down new rules to
safeguard our economy from the recklessness of Wall Street." So, is Barry the architect of an economic
renaissance? A champion of the working
man? Is this what reasonable people a
century from now will look back and see in the era of his presidency? Not so much.
Barry may wish that that is how he presidency will be perceived, buy the
answer to all those questions is a very resounding, No. But Barry is a legend in his own mind.
Because, you see, the truth is that Barry took
office at a time when big-government liberalism had already put America on a
downward trajectory, and an increasingly steep trajectory at that. And he not only has kept this nation on that
trajectory, but he has actually accelerated it, and very much so. It is now almost seven years since the last
recession ended in June 2009. Is America
seeing significant economic growth today?
No. Has it seen significant
economic growth in any year since the recession ended? Not only no, but HELL NO! And there are some who would argue that the
recession never really ended for them!
For example, in 2009, according to the Bureau of
Economic Analysis (BEA), real Gross Domestic Product declined by 2.8 percent.
In 2010, it grew by 2.5 percent. But that is the most robust economic year of
Barry’s presidency so far. In 2011, real
GDP grew by only 1.6 percent; in 2012 by 2.2 percent; in 2013 by 1.5 percent;
in 2014 by 2.4 percent; and in 2015 by 2.4 percent. The BEA has calculated the annual percent
change in inflation-adjusted GDP going back to 1930. Unless real GDP grows by 3
percent or more this year, Barry will be the first president elected since then
not to see a single year of real 3 percent GDP growth during his time in
office.
Now in an effort to put that into perspective, 10 of
the 12 years from 1933 through 1944, when FDR was president, real GDP grew by 5
percent or more, according to the BEA's numbers. In 2004 and 2005, when George W. Bush was
president, real GDP grew by 3.8 percent and 3.3 percent. But that was the last
time real GDP grew by at least 3 percent in a year. For 10 straight years now, the U.S. economy
has grown at less than 3 percent a year.
And while America has seen no great economic growth over the past
decade, what it has seen is a significant growth in the federal debt. Barry has amassed more debt than every
president who came before him. Combined!
When Bush was inaugurated to his second term on Jan.
20, 2005 — in that last year when the American economy grew by more than 3
percent — the total federal debt was $7,613,215,612,328.37. Four years later, on Jan. 20, 2009, when
Barry succeeded Bush, the debt was $10,626,877,048,913.08. That means the debt
grew by $3,013,661,436,584.71 — or an average of $753,415,359,146 per year — in
the second term of the last Republican president. As of Monday, the federal debt was
$19,000,235,912,585.65 — having thus far grown by $8,373,358,863,672.57 during
Barry's presidency. And while federal
debt has climbed, household incomes have not.
According to the Census Bureau, real median
household income peaked in 1999, when it was $57,843. In 2014, the last year
reported, it was $53,657. Since the
1930s, the liberal vision of a welfare state, where a growing percentage of the
population is dependent on government, has been transforming America. Prior to the presidency of Franklin
Roosevelt, no American collected even Social Security benefits from the federal
government. Americans were independent and self-reliant. Now Americans can collect, among other
federal benefits, Social Security, Medicare, Medicaid, disability insurance,
food stamps — and Obamacare subsidies.
Barry's new budget proposal envisions the federal
government taking in approximately $3,643,742,000,000 in taxes in fiscal 2017
and spending approximately $4,147,224,000,000.
Barry's OMB estimates his proposal would run a deficit of approximately
$503,482,000,000 next year. Barry's
legacy is the ongoing legacy of big-government liberalism: a growing debt and
increasing dependency. Eventually, the
government will not be able to tax and borrow enough to maintain the welfare
state it is continuing to build. People
looking back will no doubt see that plainly. But it would be far better for
future generations if we saw it plainly now.
The fact is that Barry’s presidency is the first
administration in United States history to record seven straight years of
annual gross domestic product growth below 3 percent. We have a higher percentage of American
children live in poverty today than did at the start of the Great Recession. Entirely too many people are being allowed to
go on government "disability" program rolls, not good for many of
them in the long run and not financially sustainable to the remaining working
population. According to researchers at
the University of Michigan, welfare payments make one unhappier than a modest
income honestly earned and used to provide for one’s family.
Sadly, it’s far too many of the American people, on
both ends of the political spectrum, who remain either too blind to see, too
stupid to comprehend, or just don’t care about, all that is taking place right
before their eyes. And how do I know
this? It’s very simple really. By watching who it is that many of them are
now choosing to vote for as they decide who it is that they want as their next
president. We have a rather sophomoric
real estate billionaire, a women who has revealed state secrets and who belongs
in prison for doing so, and a devout Socialist, all running for president and
none of whom who deserve to be elected.
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