July 13, 2011

The List of Failures Go On

How amusing it is to read opinion letters from Obama supporters who accuse others of selective editing of facts and gross distortions all the while doing it themselves.

How they can blame our current economic mess on just the Republicans is a mystery to me. Republicans had majorities in both houses of Congress only 10 of the last 20 years and a Republican in the White House for just 4 of those 10 years. The one thing that is clear to me is that career politicians of both parties have been ignoring their fiduciary responsibilities for a very long time but the Obama administration has raised mismanagement to an art form.

From WashingtonExaminer.com: A new report from the Congressional Budget Office (CBO) finds that President Obama's economic stimulus program helped nearly double U.S. debt.

According to CBO projections, before Obama's stimulus became law, federal debt equaled 36 percent of GDP and was projected to decline slightly over the next few years. Instead, thanks in large part to the stimulus, debt reached 62 percent of GDP by 2010 and will reach 70 percent of GDP by the end of this year – the highest percentage since World War II.

Less than 10% of the Obama administration is staffed with people with significant private sector work experience while most of the previous 18 administrations were staffed around a 30 to 50% level. Is it any wonder their focus is on spending without concern for where the money comes from?

CBS News reported that 1372 Obamacare waivers have been approved. Maybe passing a bill before reading it wasn't such a good idea after all.

The Associated Press reported that about 3 million people between 62 and 65 who retire early on Social Security will be eligible for Medicaid in 2014. Too bad that bill they finally read doesn't provide a method to get the extra money that will be required.

According to the CBO's Baseline Budget Outlook, the 2011 budget is projected to spend $3.708trillion which is $1.480trillion (66%) more than total projected receipts. That is how Greece got into the mess they are in.

The list of Obama administration failures goes on ad nauseam but it serves no useful purpose to continue offering examples. Conservatives already understand the harm he is doing to America; his followers continue to rationalize or blame Bush.

Rex A. Hoover