A former Biden aide said that Obama was “financially illiterate”, but he may just be plain old illiterate.
Obama’s current economic plan for the next four years is to “break” Republicans and force them to do everything he wants by threatening to use sequestration to wreck the country and the military. This makes Clinton’s government shutdown look good by comparison.
Once Obama has pulled that off, he’s going to raise taxes and cut Medicare. And then he will, in his own words, “Be able to shrink government and create jobs through infrastructure projects, like building roads.”
Not only is this the same exact proposal from four years ago, which he made a mess of, even with a Democratic majority in Congress, but he doesn’t appear to understand the definition of the word, “shrink” and his job growth plan is more of the same “shovel ready” jobs and stimulus plans that ran us into trillion dollar deficits.
Other words that Obama doesn’t understand include, “Debt” when he says, “‘If we’re spending 17% of our GDP on health care, and every other country is spending 11%, and their outcomes are better, that difference is 6%, that’s our deficit and our debt.”
It’s actually neither of those things. Nor is every country spending that much. The numbers vary widely by country. The problem is not the demand on services, that Obama would like to meet with rationing, but the growth of a vast bureaucracy surrounding health care. ObamaCare is a template of the kind of policies that lead to runaway spending and the government bureaucracy that eats up most of the money then begins rationing care and killing the elderly to protect its own structure.
If you liked the last four years, then you’ll love a second term of the same thing.