America’s economy is in free-fall. Growth is anemic. The stock market is collapsing. Real unemployment - combining the high jobless rate with rampant underemployment - is higher than 16 percent. Manufacturing is dead. Deficits, debt and government spending are at record levels. Our credit rating has been downgraded for the first time in history. The trade deficit has exploded to the highest in years.A possible Great Depression haunts the land. Primarily one man is to blame: President Obama.
Mr. Obama has racked up more than $4 trillion in debt. His massive spending stimulus has failed and made the jobless situation worse. Before his stimulus package was passed in February 2009, the unemployment rate stood at 7.8 percent. Today it is at 9.1 percent - and rising. Mr. Obama promised that his Keynesian borrow-and-spend policies would kick-start the economy. He has run up three consecutive trillion-dollar-plus budget deficits, an orgy of spending unrivaled in our history. The result: Nearly 2 million private-sector jobs have been wiped out, the U.S. dollar has eroded, investor and business confidence has been shattered, and America is no longer the world’s economic superpower. Washington has become a financial colony of China.
Under Mr. Obama, America’s decline has been swift, sudden and stunning - almost bewildering. Even many liberals are beginning to turn on him. The New York Times and liberal columnists such as Maureen Dowd and Eleanor Clift are attacking him relentlessly. The media establishment is in panic. The mainstream press portrayed him in 2008 as a world historical figure who combined Abraham Lincoln, John F. Kennedy, Martin Luther King Jr. and Mahatma Gandhi - a progressive messiah who would heal racial wounds at home and restore peace abroad. Some even compared him to God. Now many of these same journalists have come to a shocking conclusion: Mr. Obama is morphing into Jimmy Carter. They are staring at another failed liberal presidencyKUHNER: Don't go on vacation - just GO - Washington Times
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