The True State of the Economy
Obama’s is an utterly failed administration. In an effort to be reelected, Obama will apply a Clintonian approach, appearing to move to the middle, be more fiscally prudent, et cetera, but this is one leopard that will not change his spots. He is a committed Marxist and one who gives every indication of deliberately crashing the economy. In that respect, he is succeeding.
By Alan Caruba at Canada Free Press
Great television, it isn’t. The worst part, even before the speech, is that everyone knows it will be filled with boldfaced lies about “investments”, i.e., more spending, and other fictions.
- Crude Oil, European Brent (barrel) was selling for $43.49 in January 2009. It now sells for $99.02, an increase of 127.7%
- Corn, No. 2 yellow was selling for $3.56 a bushel in January 2009. It now sells for $6.33, an increase of 60.5%. Corn is an important indicator because much of it, by government mandate, must be turned into a gasoline additive called ethanol. The result is that the cost of food is increased as corn which is widely used to feed livestock and in countless other ways in the food chain is diverted to make fuel.
- Sugar, cane, raw, world price per pound was $13.37 in January 2009. It now sells for $35.39, an increase of 164%,
- Unemployment, non-farm, overall was at 7.6% and is now at 9.4%, an increase of 23.7%. The number of unemployed in January 2009 was 11,616.000 and has since risen to 14,485,000, an increase of 24.7% despite the promise of “shovel ready” and “Green” jobs. The number of people on food stamps increased 35.1%. The number of people receiving unemployment benefits increased 22.2%
- The national debt in trillions was $10.627 in January 2009 and now stands at $14.052, an increase of 32.2%.
Do you see a pattern here?
There is no indication that Obama can, will, or even wants to correct the current recession.
No amount of speeches, State of the Union or otherwise, will improve the economy if the past policies of the Obama administration continue.
The Obama administration has done nothing useful to turn the recession around.
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