Obama Won Debt Debate — He Just Doesn’t Know It

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It gave the major media the excuse to minimize the just-released, and hard to explain away, GDP numbers. The numbers were absolutely, positively, cover-your-eyes atrocious. Last quarter GDP grew at a feeble 1.3 percent. Worse, the Commerce Department revised the previous quarter’s GDP growth downward from 1.9 percent to a where’s-the-pulse 0.4 percent. Stunning!

For perspective, the economy needs GDP growth of around 5 percent to dent the 9.2 percent unemployment rate. A 2.5 percent growth just treads water, absorbing those entering the job market from high school and college offset by those leaving the market.

A 0.4 percent on the scorecard this far into the “recovery” — when by the same point into the Reagan recovery the economy was averaging nearly 7 percent GDP growth? Yikes! And for those among the estimated 20 percent unemployed or underemployed, “Yikes!!!!”

This sluggishness defies the historical pattern of recession-recovery. But the Obama tax/regulate/ObamaCare/”stimulus”/”investment” reckless, irresponsible spending spree has no post-Great Depression parallel. Obama and the then-Democratically controlled Congress completely repudiated President Ronald Reagan’s approach to a weak early ’80s economy that saw even higher unemployment than this so-called Great Recession.

Reagan cut taxes. Obama increased them. Reagan slowed down the rate of domestic spending. Obama put it on steroids. Reagan continued to deregulate the economy. Obama imposed billions of dollars’ worth of new regulations on the back of the private sector.

Obama’s own deficit commission, most of whose recommendations he promptly ignored, described the growth of entitlements as unsustainable. Former President Bill Clinton, no fool, planned a massive overhaul of Social Security that included private investment accounts — until derailed by Monica Lewinsky and impeachment.

The federal government must stop spending and dramatically reform entitlements. Generations of promises made on layaway find us at the point where debt now equals GDP and where the federal government borrows 40 cents for every dollar of ours it spends. Government at all three levels — state, local and federal — now takes nearly half of Americans’ income, even more considering the price imposed on businesses and schools by unfunded state and federal mandates. Unsustainable!

Obama has been stopped from being Obama. The debt-ceiling debate and outcome dragged him, kicking and whining, from inflicting even more damage to the economy and, by extension, further damage to his presidency.

Someday, when he leaves office — quite possibly sooner rather than later — reflects and writes his memoirs, he’ll see it. One can hope … and change.

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  • john ford

    moron! you racist f***k

    • StephenD

      And, and you are…a poopy pants!
      I see how calling someone a name can make you feel better if the facts don't support an argument against what was said.
      Either present a factual argument…or shut up.

  • Reason_For_Life

    Larry, the Tea Party got nothing in this debacle except the blame for forestalling the "inevitable".

    Taxes will go up automatically when the "Bush cuts" expire. Spending will continue unabated. There will be no balanced budget amendment. Obama pitched a shutout allowing only a delay in getting everything he wanted and did it without even having to take the mound. The GOP struck out without ever having a pitch thrown to them.

    Were any federal agencies defunded or at least de-fanged? Was ObamaCare even mentioned? Was a single entitlement changed? Were any farm subsidies cut?

    The GOP went into this determined to surrender everything after putting up a faux opposition. They succeeded in helping the Democrats get everything they wanted.

    Watch now as they surrender on Cap and Trade, closing tax "loopholes", more stimulus for useless "infrastructure" and at least two more wars to make the world safe for democracy in Libya and Syria.

    • StephenD

      Do you see how it is done John Ford? THIS is a factual argument and one I can agree with. Now, we can both be wrong but the facts would have to prove it.
      REASON got it right I believe.

  • Open

    The GDP figures are everywhere.

  • r n

    Obama also got the down grade!

  • Asher

    Obama didn't win anything, he is a Thug and Destroyer of Peace and Prosperity!

  • tanstaafl

    Obama may have revealed himself and the Democratic party as living in a fantasy land of Marxist thought.

  • voted against carter

    ***NEWS FLASH******NEWS FLASH******NEWS FLASH***

    THIS JUST IN…..

    Jimmy Carter loses "WORST U.S. PRESIDENT EVER" tittle to Barack Obama!!!

    Barack Obama takes "WORST U.S. PRESIDENT EVER" title from Jimmy Carter.
    Carter was notified late yesterday of the loss. Carter expressed bitter disappointment at the loss. Carter stated that when he was president, he worked hand in hand with the Mid-East Anti American Coalition to obtain the tittle and was assured by Mid-East Anti American Coalition that the "WORST U.S. PRESIDENT EVER" title would be his for at least the next 100 years.

    Obama was proud of his accomplishment and stated that THIS title he has ACTUALLY EARNED!!!!!!

    Not like his Nobel prize that he received for JUST SHOWING UP!!

    ***NEWS FLASH***Obama THE WORST U.S. PRESIDENT EVER!!!

  • voted against carter

    ***NEWS FLASH** NEWS FLASH**

    MONKEYs FLY OUT OF PRESIDENTS REAR END!!! video at 11:00,…

    THE eCONomy REALLY, REALLY IS IMPROVING!! No REALLY,.. IT IS,..

    PIGS REALLY DO FLY!!!!

    WHITE HOUSE TRIES TO CLARIFY 1967 BORDER REMARKS

    "ONLY A ‘STARTING POINT"

    PROVEN FACT,… JOE BIDEN REALLY IS the SMARTEST MAN ALIVE!!!

    AL GORE REALLY REALLY DID INVENT THE INTERNET!!!

    UNICORNS and FAIRY dust ARE REAL!!!!

    NEW INFINITELY re-usable ENERGY SORCE FOUND,…
    PIXIE DUST ON THE MOON!!!!

    More from NPR, CNN, ABC, NBC, MSNBC, AP, TIME, NY POST, …

  • Anamah

    This is the President Obama downgrade. He has worked hard to achieve it. He and his Party comrades want to prove Cloward and Piven were exactly right… Well, the puppet master is preparing Hillary behind the curtain for the next episode of this cruel, destructive Democratic show. I stand for America.