ELDER PATRIOT – With only five months until the voters say no to Hillary Clinton and no mas to a third Obama term the president journeyed to Elkhart Indiana to defend his abysmal economic record. In typical Obama fashion he blamed Washington as though the voters hearing his words don’t know that he’s been in charge of Washington for the past seven and a half years.
During that time the Republican Party allowed him to run up what will be an additional $10 trillion in debt by the time he leaves office. He cannot say they didn’t provide the funding for all of the programs he wanted. His profligate spending will result in an additional $118,000 of debt per each of the 85 million American taxpayers. What did the American people get in return?
Most Americans would answer “not much.” The economy grew by a paltry annual rate of 1.79%. The policies of both Ronald Reagan and Bill Clinton resulted in more than double that growth rate despite little added debt.
Wages are, at best, stagnant for those who still have work. Many people are underemployed and at least 60,000,000 Americans cannot find any work at all.
More Americans than ever are dependent on the government for help.
To Obama this represents the successful “transformation of America” that he promised us in 2008. He said as much to his small audience of teachers and students yesterday. It was a handpicked group that either feeds at the public trough or who have never had to support themselves or a family.
It appeared the president was attempting to bolster Hillary Clinton’s campaign effort but, in the end, he sounded more like a commercial supporting Donald Trump, acknowledging that Trump’s ascendancy has been in large measure due to Washington’s failure to pay attention to working-class communities.
Obama has spent eight and a half years campaigning against the Washington establishment. He’s been in charge of that establishment for seven and a half of those years. Will he ever take responsibility for the results of his policies?
In 2008 the president campaigned on the inequality between rich and poor. Under his watch its now the worst it’s been since the 1920’s. He refuses to take responsibility for this blaming others instead.
In the disjointed and often delusional stream of consciousness he criticized the GOP for highlighting how a bloated and over-sized federal government is destroying the American dream. The president told his audience that it’s a “myth” that Americans are being “killed by trade” and that immigrants are “taking all of our jobs even though official government statistics tell a different story.
Then Obama resorted to using fear, warning the gathering that the Republicans would repeal Dodd-Frank and that would reverse all of the “progress” we had made. The only beneficiaries of that legislation have been the large-cap corporations (and their overpaid executives) that were granted special protections under the law.
Dodd-Frank has done more to discourage the development of small business than any legislation in our history. With 75% of American jobs coming from small businesses it has done more to stifled the economy than any other single piece of legislation in our nation’s history.
Obama has hinged his entire economic argument on the success of the stock market. That explains the special protections these corporations were given under Dodd-Frank and the $3 trillion in federal funding they received from the fed. This has left the rest of America gasping under the burden.
The speech was indicative of a man in denial of the extent to which the American family is suffering. He sounded more like a man in the throes an emotional breakdown than the leader of a great nation:
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Seven and a half years into his presidency and he’s still campaigning as he did in 2008 blaming some nebulous establishment as though he is still an outsider. In reality he’s now campaigning against the results of his own policies but absent any new ideas to correct the problems he sees. That’s how little credit Obama and the Democrats give voters.
Obama was right about one thing he said yesterday, ”it’s easy for the people to think the system is rigged.” That’s because Obama, as much as any of his predecessors, rigged it.