Tags: Barack Obama | Economic- Crisis | Obama | Great | Recession | Bernanke

Obama Owns the Great Recession

By Wayne Allyn Root   |   Thursday, 25 Aug 2011 03:06 PM

President Barack Obama finally got something right. In a recent interview, he said he is confident we will not enter a double-dip recession. But that is because we never left the first dip.

While Obama, Fed chief Ben Bernanke, Treasury Secretary Tim Geithner, and various other Obama economists, lackeys, and socialist cabal members drone on about double dip, or not to double dip, common folks on Main Street understand that there has never been a recovery.

President Obama now owns the Great Recession as Bernanke drones on about a double dip.
The continuing Great Recession started on Bush’s watch in 2007 and has never ended. Like Herbert Hoover, another Republican president who panicked, and failing Capitalism 101 abandoned fiscal conservative principles, George W. Bush turned to big government to save us.

And as usual, the more government tries to save us, the worse it gets. So Bush channeled Hoover, starting the bailouts, stimulus, and insane levels of spending and government intervention.

Then, just when you thought it could not get any worse, along came Obama with his “axis of evil” game plan. What is his axis of evil? It is the principles to which Obama’s life is dedicated: taxation, regulation, government strangulation, unionization, and litigation.

Obama actually believes that unemployment checks and food stamps are economic stimulus, and that jobs are created by lawsuits, and tax money grows on trees. He believes teachers' unions educate children (although not his girls — they are safely tucked away in private school for $60,000 per year).

Obama’s axis of evil has wrecked the U.S. economy from sea to shining sea. It targeted, demonized, frightened, and punished business owners until there were no jobs. It turned Bush’s Great Recession into the Obama Great Depression.

The real estate collapse has surpassed the Great Depression. The stock market is limping along, on the verge of collapse. Consumer confidence, manufacturing, and retail sales are plummeting. Inflation is skyrocketing (on the products that matter: energy and food prices). Banks cannot lend because they are either insolvent or handcuffed by new government regulations. And, our AAA credit rating is gone for the first time in history.

Our national debt goes up $3 million per minute under Obama. In one day under Obama, the debt went up $200 billion — more than the entire 2007 deficit under Bush. But have no fear, our president is hard at work on the golf course at Martha’s Vineyard.

Rest assured he is burning the midnight oil searching for the solution to save our economy. You just never know what you might find in a golf hole or on a putting green. Perhaps the answer to all our troubles is staring at Obama . . . in the clubhouse.

Taxes and government spending are the twin monsters he turns to in a pinch every time.

The reason American business is frightened and paralyzed is because Obama’s obsessions (taxes, spending, and regulation) and best friends (lawyers and unions) are the mortal enemies of all taxpayers, job creators, investors, and small-business owners. Obama’s game plan has created a climate of fear, uncertainty, and crisis.

But at least Obama got one thing right — there is no chance of a double dip. Not in the middle of this Great Obama Depression. There is no recovery — only debt, depression, and disaster. As long as his axis of evil reigns supreme, there can be no recovery, no new jobs, no hope or change.

There is nowhere left to hide . . . except the golf course.

Wayne Allyn Root is a former Libertarian vice presidential nominee. He now serves as chairman of the Libertarian National Congressional Committee. He is the best-selling author of "The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts." His web site: www.ROOTforAmerica.com.

© 2015 Newsmax. All rights reserved.

1Like our page

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved