Tags: Economic- Crisis | Obama Cabinet | Unions | barack | obama | deficit

Welcome to Obamageddon

Monday, 21 March 2011 08:23 AM Current | Bio | Archive

One has to wonder if congratulations are in order for President Barack Obama. The U.S. economy is in ruins, the country in crisis. Was this all a purposeful plan, or is Obama simply an inexperienced  Inspector Clouseau in the White House?

From the day of Obama's election, many concerned patriots have warned about Obama’s goals. Obama is a follower of Marxist strategy, like Saul Alinsky’s "Rules for Radicals" and Cloward and Piven’s strategy of overwhelming the system to create economic crisis and chaos.

Based on those strategies, one would be foolish not to at least wonder whether Obama's goal from the start was to wreck capitalism; redistribute wealth by punishing, penalizing and demonizing the wealthy; force Americans to their knees to beg for help from big government; and then in response to those pleas, put government in control over every aspect of our lives.

Examine the state of the union and the world under President Obama. Judge for yourselves whether we are in a state of Obamageddon.

The United States is broke. Bankrupt. We’ve spent more and increased the debt more dramatically during the past two years than any anytime in history. Alarm bells are ringing with the news that our deficit for February was the highest in history ($223 billion). The U.S. government now borrows 42 cents of every dollar it spends and has run a deficit 29 months in a row — a modern record.

The debt is now so immense that if the IRS taxed every U.S. citizen 100 percent, we still could not achieve a balanced budget. If we add in unfunded liabilities, we couldn’t balance the budget if we all paid 100 percent taxes FOREVER.

States, counties, and cities are more broke and insolvent than the federal government. California is so broke, illegal immigrants are being caught sneaking into Mexico. Bill Gross, CEO of the biggest bond fund in the world, just sold all his U.S. municipal bond holdings and invested the proceeds in emerging bond funds. So Bill Gross now trusts African nations and Brazil more than U.S. bonds.

Real unemployment is close to 20 percent, a number not seen since the  Great Depression. Small business, which creates around 80 percent of all new jobs, continues to struggle. Only days ago Robb & Stucky, an upscale national furniture chain in business for 95 years, filed bankruptcy and announced it was closing all stores immediately.

The famous Sahara Hotel in Las Vegas also announced it’s closing its doors after a 59 year run.

We have a union crisis in this country with Obama’s best friends and biggest campaign contributors, government employee unions, pitted against private sector taxpayers. In Wisconsin, this crisis has led to protests, work stoppages, and threats on the lives of union opponents.

The housing market is in dreaded “double dip” territory, with declines actually accelerating across the country. Commercial real estate is so bad, landlords are begging the banks to take their keys and take back the properties.

Real inflation, including food and energy prices, is skyrocketing. The Fed is printing hundreds of billions of dollars to buy America’s own bonds, which even China now refuses to buy. If the Fed continues to debase the currency, bond holders will demand higher interest rates to compensate for higher inflation.

Since America owes a $14 trillion debt compounded with an annual $2 trillion deficit, any rise in interest rates would increase payments on the debt to the breaking point. Interest payments would crowd out all other forms of government spending.

Under Obama, we are more energy dependent on the Middle East — a region in flames. Oil has skyrocketed to over $100 per barrel, yet Obama refuses to allow any new drilling, exploration, or construction of new refineries on U.S. soil. Does this seem like a reasonable man with America’s best interests in mind?

Our southern border is in crisis with drug wars, violence, and murders spilling out into the United States. Border agents are outgunned and outmanned. Obama's reaction? Sue the state of Arizona for defending its own border. Is this a reasonable reaction, or a man looking for a crisis?

In the meantime, we have become a nation on the dole. A record 45 million Americans are on food stamps. One-sixth of all personal income in the United States is now provided by government. Are we building a future for our children to be productive and competitive in this world? Obama’s own education secretary announced days ago that 82 percent of all public schools are failing. What would you expect from a president owned by the teacher unions?

Can it get worse? Sure, the NFL could go on strike and we wouldn’t even have football as a distraction anymore. Uh oh.

Welcome to Obamageddon.

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 website: www.ROOTforAmerica.com

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One has to wonder if congratulations are in order for President Barack Obama. The U.S. economy is in ruins, the country in crisis. Was this all a purposeful plan, or is Obama simply an inexperienced Inspector Clouseau in the White House? From the day of Obama's election,...
Monday, 21 March 2011 08:23 AM
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