Saturday, July 25, 2009

The Obama Dream
Turns Into Nightmare

by Nile Gardiner - July 24th, 2009 - London telegraph

Today’s Rasmussen Presidential Tracking survey will have hit the poll-obsessed Obama White House like a bullet train at full speed. For the first time, Barack Obama’s approval rating has fallen below 50 per cent among likely voters. 51 per cent of Americans now disapprove of the president, with 38 per cent strongly disapproving.


To add to Obama’s woes, unemployment in America now stands at a staggering 9.5 percent and rising (the same level as the Euro area), compared to 7.2 per cent in the UK and 5.2 per cent in Japan, with the U.S. economy continuing to shed hundreds of thousands of jobs every month.

How could this happen? Unemployment was starting to slow until Obama frightened small business with a continuation of George W. Bush's ignorant Wall Street bailout, and then he doubled down on the bailout. Not content, Obama escalated the erroneous auto bailout, got congress to pass a $1.5 trillion dollar stimulus (known as the $787 billion stimulus for some bizarre reason known only to our MSM), significantly expanded government with a new budget for this year that had inherent in it a quadrupling of our annual deficit (and Obama claimed that just because he and the Democrat congress passed it - it wasn't his fault - it was really all George W. Bush's fault since Obama had no choice blah blah blah... ).

Unemployment resumed its steady deterioration as it always does when government sucks all the money out of the economy.

If the U.K. only has 7.2 per cent unemployment, why does America have 9.5%? For the years when Bush was President, we always stayed below the U.K. level of unemployment. I am astounded by the following quote from the article, "If he is not careful, Barack Obama may end up as one of the least popular presidents in American history."

Sounds about right to me.


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