Obama needs to take blame for economy

The Island Now

When the president “took over,” he told me that it was the worst economic disaster ever!!

Obama said Bush had put us in such a terrible hole!!!

It would take time for him  to get us out of it !! 

Remember?  Spend the billions on a new health-care system, let his administration take over and everything will be fine !! 

After all, the Democrats have a majority in both the House and the Senate !!  Unemployment will never go above 8 percent !  Just be patient !!  His speeches are so convincing !! 

It’s now almost four years later ! What a week it’s been for our president and our country!!

 1- May’s unemployment is 8.2% and it’s been over 8% during his entire 

term !

2- May’s GDP is a paltry 1.9  I do remember that a GDP of 5-6 was predicted in order to pay back the massive debt. !!

3- New jobs increased in May by a meager 69,000 !! Didn’t Pres. Obama tell  us that a minimum of 500,000 new jobs per month would be produced by his super-expensive “jobs bill “

 4- This year,  the national debt increased 1.2 trillion dollars !! Obama is the first president in history to increase the national debt over one trillion dollars in each of his four years !!!

 5- this week, the CBO. Informed  us that President Obama’s job’s bill actually cost us  (ready for this one?) $4.1 million for every job that the Obama Administration has created !!!

 6- In May, the stock market (probably the leading indicator of the health of the U.S. economy )  had the most “down days”, since 1956 !!!!  

 7- Student loans (don’t forget the president insisted on “taking over” this entire industry) is approaching one trillion dollars !!, and, ready for this “hidden gem” of  a statistic:  The total student loan debt just surpassed  the  entire total U.S. credit card debt ! And, to make it worse, three months after graduation, 10% are already behind in their payments !!!   And, finally,  

7- G.M., the automobile company we still own, announced that they were finally going to try and reduce their massive pension liabilities !!  I guess the market did not believe them because “Our” stock immediately dropped 3 percent!

It’s about time for the president to stop blaming Bush, stop telling us how bad it was when he started, and take full responsibility for the “Obama recovery “. 

 

Dr. Stephen Morris DDS

North Hills

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