President Obama is well into his 5th year as President. Upon his re-election his constituencies rejoiced, grateful that they avoided a “cold-hearted, mean spirited” Republican administration, which would seek to undo many of his administration’s socialist-style policies . Well, they got what they wished for. But, where is the improvement in the economy? Have his policies improved the quality of your life? For most Americans, the answer is a resounding NO!
Obama supporters, in particular, poor people, African Americans, women and young people, the joke’s on you, because ironically, as I predicted, Mr. Obama’s far left liberal policies have hurt you the worst. To wit:
1. Unemployment remains stubbornly high. The current rate is 7.6%. Worse, the rates for women, young people and African Americans are 12.2%, 34% and 13.3%, respectively. These percentages do not include those who have given up looking for work because of discouragement, entitlements or other reasons. We all agree that this level of unemployment is unacceptable. No one wants to see people suffer. But, Mr. Obama’s anti-business, anti-wealth policies have not been able to redress the situation.
2. Many employed lower-end workers have had their hours reduced and/or they have been re-classified as part time employees. In some cases, they have lost their eligibility for employer-provided health insurance and other benefits.
3. The price of gas at the pump is close to $4.00 on average nationwide, but near $5 in California, a liberal stronghold.
4. In January, all working Americans saw a decrease in their paychecks due to the re-establishment of the payroll tax.
5. Medical insurance rates have increased considerably as insurance companies gear up for the full advent of Obamacare next year. It is no secret that when Obamacare hits full force, the 80% of us that already had health insurance will see a sizeable cost increase in healthcare AND a decrease in the quality of care. Somebody has to pay for it, and you can be sure it won’t be the insurance companies. An additional negative of Obamacare is that it acts as a drag on hiring. In a recent survey, 77% of small businesses reported that Obamacare has adversely affected their hiring capabilities.
6. And, the cruelist irony of all for Obama supporters, the stock market has been soaring. The Dow is at an all time high. The S & P and NASDAQ indices have also increased substantially. Of course, this benfits the wealthy the most. To a lesser extent, it also benefiits everyone who has a 401k or IRA, but many Obama supporters do not have either of those.
CONCLUSION AND PREDICTION
As one can see, the irony is that Mr. Obama’s policies have hurt the very people that he is trying to help. Yes, be careful what you wish for. Mr. Obama’s wealth re-distribution policies have not worked. To paraphrase the late Margaret Thatcher, Mr. Obama seems more interested in making rich people poorer than in making poor people rich.
As I have stated in previous blogs, these policies will not work. They have never worked anywhere else; there is no reason why they should work here. Study your history and learn from it lest you be doomed to repeat it. One might wonder if they taught economics and history at Harvard.
I predict no substantive improvement in the economic situation before the midterm elections. In that case, history shows us that Americans will make their displeasure and frustration known in the voting booth, which does not augur well for the Dems.