Monday, August 8, 2011

Obama's shabby record here at home

Last time I focused on the foreign problems that President Obama has brought the United States. But for this blog I wanted to save the really horrific for last--the utter disaster he has been for our country on the domestic front.

Let's start with the recent news about our credit rating. Friday's downgrade by Standard & Poor's of U.S. long-term debt to AA+ from AAA will be the first of many such humiliations if the Democrats don't change their economic and fiscal policies.

Then there's the federal budget deficit. According to The Wall Street Journal, the deficit is estimated to come in at around 11% of GDP in 2011, up from about 3% in 2008. Wow, we thought the Bush administration did a poor job with spending (and it did).

Of course, this has led to a huge jump in the federal debt. Under the Obama administration it has grown to $14.3 trillion this month from $10.7 trillion at the end of 2008. He has added more debt more quickly than any other President in history. Quite an accomplishment.

How is our dollar doing these days? Thanks to Obama's policies it has lost almost half its value against gold since Aug. 2008.

Every time I fill up with gas, I'm reminded of another failure of this administration.The average retail price of a gallon of gas hovered near the $1.80 mark when Mr. Obama was inaugurated. It has since more than doubled.

I am grateful to have a job, but many Americans don't share my good fortune, thanks to this administration. In November 2008, president-elect Obama promised he would create 2.5 million jobs by 2011. By October 2010 the economy had shed 3.3 million jobs.

We can't forget ObamaCare, an unpopular program rammed through Congress. It's full of exceptions for certain states and powerful companies, it will increase our expenses (it was sold as a money saver), and it will end up rationing our health care.

Other than the things I've listed, Obama has been a smashing success on the home front. He makes me yearn for Jimmy Carter, which is hard to do, considering the ineptness of the toothy one. Let's continue the comparison of Obama to Carter by making both a one-term President.

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