Obamanomics Destroyed the Economy and the Environment

Michael Oberndorf, FloydReports.com

As the economy prepares to tank again, this time perhaps into a full-blown depression, even socialist leaders in the failing European Union are complaining about the total lack of effort exerted by the Fraud in the White House to create new private sector jobs. Fact is, Obama-Soetoro and his merry band of unindicted neo-fascist co-conspirators can’t even maintain the government hiring that drove the fake recovery last year. America is not just broke but, thanks to wildly profligate spending by Democrats, we are so far in the hole, we may, like Zimbabwe, never get out.

However, oblivious to reality, Obama-Soetoro continues to demand that Congress spend even more. Trying to play the big shot in front of German Prime Minister Angela Merkel, he even proposed sending a multimillion dollar bailout of non-existent U.S. taxpayer dollars to socialist Greece. I guess since there seems to be an endless supply of money for his lavish vacations, his opulent state dinners and parties, foreign junkets, and incessant golf outings, he thinks money grows on trees.

Unfortunately, those of us who must live in the real world are suffering the consequences of his delusional, Alinskyite policies. Although gas prices have dropped a few cents recently, they are still at record highs, and it is unlikely they will stay this low. The disgraceful, despicable fact is that we have enough untapped oil in the United States to be totally self-sufficient, producing it at a cost of about $16 per barrel, as opposed to the $100+ we are paying now to Obama-Soetoro’s Moslem OPEC pals.

Massive, exploitable reserves have been identified in the northern Midwest, on the north coast of Alaska, in the Gulf of Mexico, in Texas, and off both our east and west coasts. Democrats, however, and their “environmentalist” stormtroopers have passed laws and regulations that put all of this oil out of reach, untouchable, using scare tactics and lies to impose phony environmental protections.

Like a watermelon, they are green on the outside, but when looked into, red on the inside.

The simple fact is….

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Video: Louisana Rep, Thank Obama for $4 Gas

Video: Issa Says Obama’s Deliberately Raising Gas Prices

Obama’s Economy Worse than the 1970s

Floyd and Mary Beth Brown, FloydReports.com

The worst economic conditions in recent memory were during the Jimmy Carter era of stagflation. Stagflation was a term coined in the 1970s to describe high unemployment with high inflation. Stagflation is back. Translation: America’s middle class is getting poorer; a record number of middle class workers are out of work. If you are lucky enough to have a job, your wages aren’t going up, but you are facing higher prices for everything.

“Recent data suggests that the current economic recovery is both sluggish and slowing with unemployment stubbornly high,” this from a page one story in Investor’s Business Daily.

The Obama/Bernanke partnership has been a bust.

The Fed is winding down Ben Bernanke’s experiment in money printing called “QE2.” He trumpets his success saying that QE2 has pointed the U.S. economy “in the right direction.” But did it really? It turns out that QE2 has created maybe 700,000 full-time jobs, but at a cost of about $850,000 for each job.

All QE2 did was create a boom in the stock market. Wall Street bankers reaped millions while the average investors barely made back some small amount of the money that they lost during the 2008 crash.

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Obama’s Double-Dip Recession is on the Way

The Washington Times

The experts at the National Bureau of Economic Research say the Great Recession ended in June 2009. After that, it looked for a brief period as if there might be a surge of economic growth as an oppressed private sector fought to break free of the malaise. It hasn’t happened, and the latest numbers are far from encouraging.

On Monday, the Federal Reserve Bank of Chicago released the monthly results for its broad measure of economic activity. The Chicago Fed national activity index tumbled from positive territory, a value of .32 in March, into negative territory, -.45, in April. The score is a weighted average of 85 measures of employment, consumption, sales and other factors that give a sense of where the economy is headed. In this case, production-related indicators that had been positive for nine consecutive months have stalled and are dragging down the figures. Likewise, inflationary pressures have begun to take a toll.

The news was equally bleak over at the Philadelphia Fed. On Friday, the bank’s general business conditions survey of the manufacturing sector reported that growth dropped from 18.5 on the index in April to a value of just 3.9. While positive, that score reflects a major slowing. A majority of firms that responded to the survey explained that they were facing much higher prices for supplies, cutting into each company’s bottom line. Uncertainty about the cost of health insurance was the third-most-cited reason for a company holding back on hiring.

That uncertainty emanates directly from the White House. After ramming his health care mandates through a heavily Democratic Congress, President Obama has created a situation in which even state governors are now complaining they don’t know what will come next. The administration has been less focused on restoring economic hope and more focused on rewarding its political allies. So instead of encouraging the creation of wealth and prosperity, Mr. Obama has demonized those responsible for putting America to work.

Under Mr. Obama’s anti-energy strategy, taxpayer money is lavished on Democratic donors who come up with scams that promise to power cities with bird-slicing windmills and solar cells that work only when the sun is out.

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