It was recently reported that the recession that has plagued America since the end of 2007 has been over since the middle of 2009. So, why does it feel like it is not over? One would think that after a year we should at least have the mindset that we are all of the recession and well on our way to a robust recovery.
But we are not.
We are all well aware of the unemployment picture in America. According to the Bureau of Labor Statistics, unemployment is nearly 10%. It has been nearly 10% for 16 months. The unemployment level has been higher since the end of the recession and that was during most of its duration. Why are we not economically optimistic?
We all know the answer -- it is the policies of the Obama administration. That tax-and-spend philosophy that has driven up our national debt at an alarming rate is showing no signs of slowdown. The increased regulation that will burden businesses that are expected to create jobs will not be lessened. The entitlement mentality that we can get something for nothing has gotten us nowhere. The socialist agenda that we must redistribute wealth in this country may have made some rich people less rich, including most homeowners, but it has not made the poor are better off. It has actually done the opposite. It has created a higher percentage of people below the level of poverty then there were in the 1960s before the war on poverty.
So, great job, President Obama. You've not only wipe out the 401(k)s and stock investment gains over the past 10 years but have created a higher dependency of people needing government assistance then we have had in 40 years. Can you still blame George Bush for that?
For nearly 2 years now, we have only been reassured that things could have been worse. That's not very reassuring. We have spent $1 trillion trying to stimulate the economy that is now slowing down to less than 2% annual growth. With higher unemployment, there is less of the tax base but spending has shown no signs of slowing down. This will mean a higher burden on the 50% of Americans that are paying all the taxes.
What's the strategy for getting out of this? Blaming Republicans? Ridiculing people who have views that they are taxed enough already? Hence the tea party movement. The Democrats are going to encourage us to not vote for a bunch of right wing crazies and wing nuts who want to limit spending and perhaps even allow the people who earn their money to keep at least a part of it. I'm sure you'll agree with me when I say we must reelect the socialist tax and spenders. By increasing regulation and limiting our liberties we can spend our way to prosperity. Even if we don't have the money.