We are in midst of an economic Armageddon.
For months I have described it as “the Great Depression II.” The politicians that run our country and economy are useless. Each move they make, the economy gets worse. Each dollar they spend to “save the economy” results in more economic decline, fewer jobs, and lower tax revenues. No coincidence.
As job reports get bleaker and businesses fail by the thousands each month, Vice President Joe Biden repeats endlessly that the stimulus is working just fine and has “saved” and created millions of jobs.
Perhaps Biden believes if you repeat a lie enough times, it becomes the truth.
Obama repeats endlessly that it’s Bush’s fault, even though we have lost millions of jobs while adding over $4 trillion to the nation’s debt since Obama become CEO of the economy.
Recently the nation’s debt increased by more in one day than the entire annual deficit in 2007. I am no fan of the wars in Iraq and Afghanistan, but according to the Congressional Budget Office, Obama’s one-time stimulus program enacted during his first month of office cost $100 billion more than the entire eight-year Iraq war.
Then there’s Ben Bernanke. He never saw the recession coming, then denied it existed, then announced it was over, then denied we could experience a double dip recession, and now acknowledges that the economy is deteriorating so rapidly the Fed might need to intervene to prevent a double dip.
He spends so much time in denial, you’d swear the Great Recession was hiding in the witness protection program.
What a deadly combination for the American economy.
As I’ve written before, I believe that Obama’s goal is to purposely overwhelm the economy, pile up debt to the point of collapse, redistribute wealth, and fatally damage capitalism. This plan has given government the opportunity to take over vast swaths of the economy (automakers, healthcare, banking, student loans), and made historic numbers of Americans dependent on government assistance and government jobs. Enter Socialism from stage left.
How do we know this is a purposeful plan? Because no one could be so ignorant of basic economics and business to not know the following:
- Redistributing money from one group (small business owners, taxpayers and job creators) to hand it to your Democratic voters doesn’t improve GDP or create jobs, it destroys them.
- Extending jobless benefits endlessly doesn’t create jobs. It guarantees that those who pay the bill (small business owners) will not create a single job, while those receiving the benefits have no urgency to look for one.
- Handing billions of dollars out in “stimulus” and bailouts to government employee unions and Democratic campaign contributors doesn’t fix an economy. It just makes millionaires out of your cronies.
- Spending $26 billion to protect government employee union jobs doesn’t help the economy recover. It just adds $26 billion more to the national debt, and makes our children’s future even bleaker.
- Asking the Fed to create endless fake debt-based money has never created a single real job.
- The largest tax increase in history that takes effect on Jan. 1 will not increase tax revenues, it will cause small business failures, lower consumer spending, and put millions more in the unemployment line.
- The financial reform bill demanding “affirmative action” loans to minority small businesses puts the entire economy at risk. Isn’t this the same requirement Congress imposed on banks that resulted in subprime home loans leading to the collapse of the real estate market?
- The multitrillion dollar Universal Healthcare bill won’t help the economy recover, but it will raise all of our healthcare costs and taxes. The cap and trade bill they so desperately want to pass will double or triple our utility and gas bills. The moratorium on oil drilling has cost 100,000 jobs. Could any President be this ignorant or reckless by mistake?
Critics are complaining that Obama spends too much time playing golf and taking vacations. But I see a solution to our economic crisis.
Please, Mr. President, stay on vacation and away from the economy. How about a safari in South Africa? Or better yet, tee it up night and day Mr. President. We desperately need you to develop your inner game of golf. Name Tiger Woods your Golf Czar. Work on your putting stroke. Get that handicap down to zero. Practice makes perfect.
Play 36 holes every day.
As your golf score goes down, the U.S. economy can only go up.
Wayne Allyn Root is chairman of the Libertarian National Congressional Committee and served as the 2008 Libertarian vice presidential nominee. He writes for the Las Vegas Review Journal and is a regular guest on Fox News. His new book is entitled, “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gambling & Tax Cuts.” Visit www.rootforamerica.com.
© 2016 Newsmax. All rights reserved.