It is getting quite old; this propensity President Obama has for placing the blame someplace other than where it rightfully belongs: at his feet. I will concede that the president did in fact inherit some less than stellar economic conditions when he took office. President Bush did not react well to real estate market crash or the resulting debt crisis, but the honeymoon must eventually end. President Obama took office thirty-one months ago. Not only has he not rectified the situation, he has poured gasoline on an already towering inferno.
According to the Department of Labor, when Obama took office in January of 2009, the nation’s unemployment rate was at 7.6%. As of the beginning of August the unemployment rate has ballooned to 9.1%. That is 4.6 million more Americans that are jobless today than when the president took office. This number does not even include the millions of citizens who may be underemployed.
For the first time in history the United States’ credit rating has been downgraded and it occurred under Obama’s watch. Not Bush’s. As a result, the stock market has dropped roughly 2,000 points (15%) since mid July. Now it is not fair to place all of the responsibility for this drop on the president, but I don’t think that it is a coincidence the stock market plummeted when our credit rating was downgraded. Deficit spending has increased. Our debt has increased. And faith in our economic stability and viability has suffered.
It is not unreasonable to expect accountability from the Obama administration. Say what you will about President Bush but he was accountable. The economic problems that occurred during the Bush administration arose partially as a result of sub-prime lending legislation what was implemented under President Clinton. This legislation, along with instances of predatory lending and irresponsible borrowing, was partially responsible for the debt crisis. The point is that every president inherits either problems or conditions that are conducive the problems arising. Blaming one’s predecessor will not solve the problem. Ronald Reagan did not whine or complain when he took office. He rolled up his sleeves, went to work, and solved Carter’s budget crisis in approximately two years.
The bottom line is this…Obama is incompetent. He “closed” Guantanamo Bay with no plan to deal with the prisoners that were held there. He rammed his healthcare bill, a bill that is more about government control than providing healthcare for all, down our throat and exacerbated the problem. Businesses are hesitant to hire people due to the fact that they desire to say below fifty employees so that they are exempt from the regulations outlined in the healthcare bill. Further, if individuals cannot afford healthcare they are fined. How does that make any sense? The government’s job is to remove the barriers that prevent us from leading productive and happy lives; not to erect barriers that make it more difficult to find a job and pay our bills. Apparently Obama didn’t get the memo. But I’m sure that’s someone else’s fault.
