Not that a Michael Bloomberg endorcement would be anything to desire as a Republican, but in a candid moment when Michael Bloomberg lets slip that Mitt Romney would be a better President than Barack Obama? You know that must have had a few tongues wagging in the west wing! Of course Bloomberg is only saying what a lot of Democrats of thinking, even if they can’t say it publicly. So now can we Republicans start saying to Democrats that if they don’t vote for Mitt Romney that they are Religious Bigots?
Just occasionally you actually hear someone *in* the main stream media admit what the rest of us already know. Or at least the rest of us who are not left leaning wing nuts who benefit from the media bias. I’ve seen statistics that something like 70-80% of journalists identify as, and vote Democrat. So it was surprising and gratifying to see Les Moonves of CBS make this public assertion recently. Not so happy to see him duck back into the closet of denial again however. Les, you can trust me when I say this. CBS is partisan, and is biased just like ABC and NBC.
Mr. President, let me be the latest to remind you of a few inconvenient truths. The economy is not fine; not close to fine; and will never be fine as long as you remain in office because you lack the belief in capitalism and lack in the understanding of how capitalism works. That economy that you claimed today was fine? It’s limping along at less than 2% growth, in a recovery period that began in June 2009. As average economic growth prior to 2008 was above 3%, that means we will never actually recover and gain back what we’ve lost these three years. In the last 37 recoveries, after recessions, the average rate of economic growth has been greater than 4%, marking this recovery — officially — as the slowest recovery with the least economic activity out of the 37. That isn’t fine Mr. President.
Growth won’t increase because the engine for growth starts and ends with jobs. We are currently experiencing the lowest labor participation rate since 1982 — 30 years. The fewest people in 30 years are actually working right now, today. You might think otherwise because the unemployment rate had been declining in the last few months, but I assure you it is. The official unemployment rate — the U-3 rate — doesn’t track those individuals who had previously been employed full time and now are not. If those individuals are currently working part time, they’re still counted as employed. Well, they are, fair enough. But the official unemployment rate also doesn’t track those individuals who had been previously unemployed and who have given up entirely and are no longer working. Those individuals are only tracked in another rate, called the U-6 rate, which the media never talks about. That rate stands at 10.3% today, but I don’t need to actually tell you that. If you’re looking for a job today my guess is you already know it innately.
If you’re looking for work today, you know the economy certainly is not fine. President Obama? He’s completely disconnected from reality.
I’ve been sifting through raw government data again this evening. I know, bad Torpeo! I wanted to capture three facts that will not fit the Obama 2012 narrative very well. The Average Unemployment Rate between 1970 and May 2012 has been 6.4%. The average unemployment rate under the George W. Bush administration was 5.3%, and includes the Fall months in 2008 when the unemployment rate began to rise. Incidentally the average unemployment rate in 2008 was 5.8. The average unemployment rate under the Obama administration has been 9.2%.
2009 average: 9.3%
2010 average: 9.6%
2011 average: 9.0%
2012 average: 8.2%
All of the rates were calculated from the official U-3 figures, which are misleading as I recounted yesterday. But that being said, they’re the official rates and so I’ve used them. All of this is terribly bad news for President Obama. I don’t recall President Reagan ever complaining how he inherited a bad economy from President Carter, but I do remember him taking us through a terrible recession that had an extended period of even higher unemployment than President Obama and the United States have experienced here. Under President Reagan the country experienced 10 strait months of unemployment over 10%. Even then he didn’t complain about President Carter, which points to two certain correlations. First, President Obama is a whiner. Second, President Obama is no President Reagan.
The level of stupidity of the average liberal entertainer never ceases to amaze me. At the same time they both scream for the government to protect their right to vomit whatever their few brain cells can muster, and for the government to stop others from speaking out in response. It’s a hypocrisy of giant proportion. A condition undoubtedly brought about by something in the Californian water.
Evidently those towering intellects of the left coast don’t realize the same right to spew stupidity is the same right accorded to others which enables them to register their displeasure; to judge. Evidently it never occurred to some of those geniuses that when your livelihood is entertainment and relies on the positive impressions of others, you might not want to antagonize a hefty percentage of the public with your partisan political agenda.
Which brings me to my point. Liberals are always threatening boycotts and it’s about time they reap what they’ve sown. It’s high time we conservatives stop funding liberal entertainers and the Hollywood entertainment machine. Ever dollar we provide it is used against us, and I see no reason to enrich those who revile the very principles this country was founded upon and which we conservatives cherish. Let us teach those on the left they can spit upon out institutions, our country, and our beliefs but they won’t get rich doing it.
As an example I’ve stopped purchasing music by groups who actively attacked the right. Likewise I’ve stopped seeing movies, watching TV shows or series, and purchasing DVDs with active left leaning actors and actresses. And I’ve stopped purchasing books from authors who actively campaign against my principles. I encourage others to do the same. I’d rather do without than see another single dollar of mine find its way to the wallets of the likes of Alec Baldwin, Sean Penn, Tim Robbins, Susan Sarandon, and others.
Obama never really quit campaigning after the 2008 election. Undoubtedly he must have been thinking forward to all of the accomplishments he was going to usher through Congress as he stood under Greek columns in 2008 accepting the Democratic nomination for President. Not many think he’ll make that mistake again — of festooning with such pomp again that is.
But life has a habit of not going the way we want it to. And for someone who spent his entire life ducking responsibility — drug use, refusal to take stands on controversial legislation, minimal private sector work experience — he simply wasn’t prepared for the disappointments and tasks that would lay ahead of him. Instead of walking into the White House and immediately getting to work setting the economy to right, he lacked executive experience and knowledge that he would need in order to do that. Instead, he ushered through a $900 Billion Stimulus package which funneled millions to campaign donors and other connected individuals; instituted $100 Billion in highly questionable loans to companies that likely couldn’t have gotten them on their own through the private sector (Solyndra, and many others); and failed to create the jobs President Obama promised would come of borrowing nearly an additional $1 trillion dollars.
Jobs that were created through the stimulus legislation, however, ended up costing the country $300-500k to create per job. Yes, you saw that figure right. However, that figure is reflective of the administration’s claim of “saved” and created jobs. A claim that is entirely unsupportable in that you can’t document jobs that weren’t lost, but were saved none-the-less. The administration now counts jobs that are supposedly “funded” by stimulus dollars, instead. Free money to pay my existing employees? Sure, I’ll take some! Hire new employees? Are you kidding? Demand drives hiring and we have none of that around here, thank you very much! The actual figure is likely higher, though I haven’t seen a credible figure yet.
Instead President Obama ushered through Obamacare, which most expect to be tossed by the Supreme Court later this year despite considerable political capital expended by the President and Congressional Democrats to pass it. Itself, a tremendously expensive drain on the nations budget! Estimates now show that the initial 10 year cost will be $1.7 Trillion, though even that cost is gamed. In order to get it passed, Congressional Democrats back loaded the costs while immediately instituting the taxes and fees. The figure represents only 6 years of actual Obamacare related spending, but 10 years of taxes related to it. The cost will balloon as time passes, though how much is impossible to determine.
Instead of fostering realistic economic growth President Obama has gone on a spending spree the likes of which the world has never seen before. He’s drowned the United States in debt, having accumulated more current and projected debt than all of the previous Presidents before him combined. In terms of real debt he accumulated more than President Bush did in 8 years, in less than 2 years. Lacking in a business background, President Obama simply doesn’t understand how to create jobs. Nor do his advisers, who like him are similarly lacking in the knowledge and skills businesses tap to foster growth and economic demand. Such a waste. A waste that points to the President’s unrealistic ideology, which is grounded in the world of academia where there are no actual repercussions for being wrong.
President Obama promised he would create jobs, and hasn’t. President Obama promised to reign in the cost of healthcare, and hasn’t. President Obama promised to banish lobbyists from the White House, and didn’t. President Obama promised he was post-racial, but throws the race card in every instance anyone disagrees with him. And the list goes on. This is why President Obama can’t run on his record, and why his entire campaign will be negative. That negativity has already begun and will only get worse as the 2012 campaign season kicks into high gear.
For those who want to see the facts about the Obama administration, here are a few charts to digest. While they should be self explanatory, I’ll discuss them briefly for the liberals in the audience. The data for each of the charts was obtained directly from the CBO, Dept. of Labor, and the Treasury. Read more…
For the majority of Americans, the key to lasting success is education. Higher education is the springboard to professional life in a competitive field, and the rewards of higher education are well documented. College graduates earn approximately $27,000 more in starting salaries than High School graduates, who earn only $26,000 on average. By comparison, High School drop outs earn on average only $17,000. The path to success does not come cheaply however. The average annual cost of education in a public University or College is $21,447, a 5.4% increase from 2010 to 2011. Annual cost in a private college is nearly double — a whopping $42,224.
The cost of tuition and fees has outstripped inflation, which in 2011 was 3%, and makes no appearance of abating anytime soon. College graduates enter the work force with massive debt levels, that can take upwards of 20 years or more to re-pay. A friend graduated from Pharmacy school a decade ago with $117,000 in college debt and won’t complete paying off her debt until 2016. On top of a mortgage, car payments, and a budding family, the debt has caused considerable impact to her family. I worked with her husband for a number of years and he shared with me numerous times the monthly struggles they went through to stay current, despite the fact he also earned the average salary in his field himself. They basically had two mortgage payments to make monthly, two car payments, and until two years ago, only one child. And their story is the story of millions of families across the country, where families struggle through the formative years of younger age and don’t begin to reach economic freedom until their 40’s. If even then.
Recent years have been more difficult for those families, as economic setbacks have impacted virtually everyone. Hard choices have had to be made by all, whether by choice or whether that choice was made for them. Businesses have likewise had to tighten their belts as any great economic impact to the American people necessarily effects business as well. But not so Academia. At a time when there has been massive economic impact to families and business, academia continued to let out the belt as its done for years. America’s Universities and Colleges continued to act independent of market forces, which is the clearest sign that something is broken and needs to be looked at more closely.
And this is where I blame Occupy Wall Street, who collectively self profess to be the country’s not so silent majority. To be certain, Occupy Wall Street has beat the drum of affordable education, but in true socialist fashion called upon government to fully subsidize higher education rather than to ask government to better regulate it. When it is precisely the amount of education aid that is flowing into Academia that is propelling the ever increasing rate of tuition and fees. There’s been no downward economic force to control the cost of tuition and fees, and asking the government to wholly subsidize the cost of higher education for all American’s would only worsen the situation. Throwing more money at Academia would do nothing but increase the rate of tuition gain year over year.
Occupy Wall Street, true to form, collectively has been focusing on the wrong target in their attempt to “re-right” our capitalist system. A capitalist system, I might add, that propelled this country into the greatest economic force this world has ever seen. When the key to success is Higher Education, Occupy Wall Street should instead focus their energies on Academia. Perhaps then they would actually be an engine for good, instead of an example of how we perhaps coddle our children too much.