By Michael Master
Even though the Obama administration claimed “mission accomplished” when the GDP finally increased, this economy is still in trouble.
GDP is increasing because of increased prices and not because of increased product volumes. Costs for labor and services are increasing … but not product volumes. Manufacturing and housing construction remain low and that spells disaster.
My comments of last April stated: “if the USA grew exports by 100%, that would only take us to 22% (of GDP) which would still be a far cry from 35% in 2000. Also, the world competitors are not about to allow the USA to grow 100%. They will adjust.”
The Kiplinger Letter of June 17, 2011 states: “The economy seems especially fragile… 2% GDP growth (that is much less than inflation) … so far the average is just 72,000 (jobs) per month (200,000 is needed to maintain the current unemployment level and 400,000 are needed to reduce the unemployment level substantially) … (oil) $90 a barrel (50% more than just one year ago) … will businesses opt out of health coverage? Paying a penalty for not covering workers would be less costly than providing coverage… The US trade deficit will rise this year … exports will grow by 12% … but imports … also up 12%.”
Drudge posted on June 20, 2011 that unemployment among blacks in the USA is at 16% with 17.5% for black males and almost 41% for teenage blacks.
So what exactly is so good about the economy?
Nothing. As stated by several economic sources: this is the slowest recovery since 1932. This administration certainly owns the failure of the recovery. This administration is a failure.
Why do blacks continue to support this administration? Why does Wall Street continue to pump lots of money into the Obama campaign? Why do young single women continue to endorse Obama?
Because other things are more important to them than the economy.
Well, why did 80% of Jews vote for Obama? Why do they provide 25% of the funding for Democrats? Given the continued economic failures of Democrats since they took control of Congress in 2007, Jewish support of Democrats cannot be based on economic reasons.
Why would 96% of blacks vote for Obama when 17.5% of black males are unemployed?
Why did 70% of single white women under 40 years old vote for Obama?
There is racism in America. There is communism in America. There is hatred towards white Christian men. The votes of blacks, Jews, and single young white women are for reasons other than what is economically good for America … and now America is paying a huge economic price because of it.
According to the latest estimates from the OMB, Obamacare will cost America another $2.4 trillion over the next 10 years. As more corporations choose to opt out of providing healthcare, benefits will decrease and premiums will increase for the average American. $2.4 trillion equates to somewhere between 1 1/2 and 2 million killed jobs. So why would single women, blacks, and Jews want to continue with Obamacare?
Race, communism, and rebuff of white Christian men.
According to Money Magazine, Forbes, and Kiplinger, this recession will continue longer than necessary because of wasted money on stimulus programs that had no multiplier effects on the economy. Implementation of Obamacare will exacerbate it.
When George W. Bush was president, liberals complained that the economy was in horrible trouble when unemployment was 6%. John Kerry personally labeled it irresponsible. So why are liberals so accepting of 9% unemployment now? Why do they not condemn Obama for this 9% unemployment when he promised to keep it under 8%?
Liberals are not really interested in the economy. They are more interested in the goodies that government will give them, in having the government take care of them, and in keeping the white Christian men from dominating them … even against their own best economic interests.
Young single women, blacks, and Jews elected Obama. We need to help educate them about how they harmed America and themselves when they voted for Obama in 2008 so they will not do it again in 2012.
We need to help them see that this is still about the economy.
Michael Master is the author of “Save America Now!” It can be ordered at http://www.amazon.com/gp/product/1616235756