After three years bankrupting the country with futile “stimulus” spending and give-aways to Obama’s supporters, our economy stinks. In fact, it’s the worst economy since the Great Depression. How bad is it? Theoretically, the recession ended in 2009 and the Obama recovery began at that point. Indeed, Team Obama twice now has heralded “the recovery summer.” And yet:How Bad Is The Obamaconomy?
● Official unemployment remains at 9.1% in August.
● Unofficial unemployment remains around 17%.
● Official black unemployment remains at 16.7%.
● Median household income is down to $49,445, below 1996 levels. In other words, fifteen years of income growth are gone.
● Inflation is officially 3.2%, but it’s really closer to 12-15%.
● There are 46.2 million people living below the poverty line ($22,314 per family). This is a record since the statistic was first kept in 1959. The poverty rate of 15.1% is also a record.
● 13.7 million Americans receive unemployment.
● 16.3% of people still have no health insurance.
● Health insurance premiums are up 9% this year, following 2010’s rise of 14%. Thanks Barack!
In 2008, when Obama came to power, the conventional wisdom assumed the public was ready to move left and accept more government control over their lives. But that didn't last. People now see the government as the problem. Indeed, not only has the public rejected Obama's agenda, but they've moved further right than ever. Consider these numbers from Gallup (which typically shades about 5% to the left):About Face!
● 57% of Americans say the federal government has too much power and only 8% think it needs more.That means 60% of the public is ready to declare an end to the Pelosi/Obama Age of Big Government (Redux). But even beyond these numbers, something else has changed.
● 56% of Americans say the federal government “is trying to do too many things that should be left to individuals and business.” Only 39% believe the government should do more.
● 56% want lower taxes and fewer services and only 16% want more taxes and more services.
● 50% think the government regulates too much. 23% think it regulates about right and 23% want more regulation.
When Reagan came to power, there was a sense the government had gone too far. But there seemed little appetite for wholesale butchering of government functions and agencies. It was still a world of “the government should be smaller, but don’t cut any of it.” The left used this dualism for years to justify continued spending, by claiming that people don’t really want cuts because they can’t identify anything they are willing to give up. That’s changed. Suddenly, people want it all cut. Questions like “what agency would you wipe out,” are now common topics for discussion and were even asked by an MSM journalist at the last debate -- in the past, this would have been considered fringe stuff.
Also, Republican governors are slashing budgets, cutting taxes, demanding an end to regulation, and ending collective bargaining right, and House Republicans are in near revolt to make similar changes. . . yet this isn't hurting them with the public. In fact, many of their poll numbers are up (some Democratic pollster recently noted to their chagrin that the Democrats are doing even worse now than they did in 2010). Moreover, we just aren't seeing a popular backlash like we've seen in the past when sacred cows were touched. Where are the million old people who flooded the Capitol switchboard when Republicans first proposed changes to Social Security in the 1990s? They're silent. Instead, all we've seen is professional protestors, whose buffoonish efforts achieved nothing. Heck, this trend is so obvious that even Democrats are starting to adopt similar rhetoric, without the substance of course.
Obama wanted to be an historic President, and he has been in many ways: his deficits are historic, he lost our credit rating, he’s the least popular President ever, and he’s headed for an historic beat down landslide in 2012. But his most historic achievement may ultimately be that he brought to life a change in belief in the United States away from slowly expanding the welfare state to ending it. . . i.e. he may complete Reagan's legacy!
The only question now is will the public turn out in large enough numbers to overcome those with a vested interest in big government? Someone said the other day that this election will be between those who work for a living and those who vote for a living. Workers of the world unite! ;-)