I am sick and tired of this administration and anybody associated with it saying, “They inherited...”
You ran for the office and you understood very clearly when you ran for it the situation that you were getting into. The last year of the Bush administration saw 3 million jobs lost, while the final three months saw a complete meltdown of the financial markets. Since Obama took over, January 20, 2009 there have been 4 million jobs lost. You and your fellow Democrats in the House and Senate passed a $1 trillion “swindle-us” bill that did not keep unemployment under 8% like you promised.
When you took over, you knew the condition of the economy. The economy was not a national-security secret. You voted for the TARP bailout of Wall Street. You, and the Democrats in the House and Senate that mandated Fannie Mae and Freddie Mac lower qualification standards, knew about the investor risk to Mortgage Backed Securities. This was not top-secret data. The Bush Administration warned you (and the public) about it in 2006.
Every presidential administration for the past 20 years has been warned (and known) about the impending insolvency of Social Security. When George W. Bush tried to privatize 1% of the employee portion of the Social Security tax, he was stopped dead in his tracks. He merely wanted to fix the problem. He was demonized by Democrats that didn’t want a Republican President to get credit for fixing something that was broken. I think this year Social Security has reached the tipping point. Before this President’s first term is up he’ll be saying, “I inherited this Social Security problem.”
This administration got almost $1 trillion approved in “swindle-us” funds to turn unemployment around. Obama has not done this, but he certainly has expanded federal employment. These federal employees make an average of $70,000 per year. Think about that, the average private-sector salary is $40,000 per year. You work hard feeding your family and paying your taxes to support federal employees that make $70,000 per year on average.
Only one-third of the “swindle-us” money has actually been spent today. The federal government has spent $250 billion, but where is the other $550 billion? If this was really “stimulus” money, why didn’t they spend it in six months? After all, the definition of a stimulus-bill is temporary, targeted, immediate spending by the government to stimulate economic growth. The “swindle-us” bill intentionally delayed the spending till mid-term and Presidential elections in order to help Democrats win at the ballot box.
In New Jersey, state workers have a retirement plan that they contribute $124,000 into and after they turn 49 years old get over $3.8 million in retirement and health care benefits. Something is seriously wrong here. The Republican Governor, Chris Christie, that was just elected announced a state spending freeze and the Democrats in the state legislature are screaming like a stuck pig.
Do you remember how the liberals in congress squawked about the eight years of the Bush Administration’s spending? During the 2006 and 2008 elections, they lamented deficit spending by George W. Bush. Today, every deficit-penny spent by their President is “needed” and “detrimental” to our national welfare. Like I said a couple weeks back, we need a hatchet, not a scalpel.
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