Thursday, June 07, 2012

Inventing the Obama Superhero

Mr. Skibbins is “setting the record straight” about Obama inventively. He said: “Under Obama, Americans now enjoy their lowest tax burden since 1958.” In 1958, Deficit Day was April 5; now it’s May 14. Americans must work 134 days to pay this year’s combined 29.2% federal, state, and local tax bill, plus government borrowing that is not reflected in the tax rate. Deficit Day hasn’t been this late since the end of World War II, when it was four days later.

Skibbins: “Obama created a 20% payroll tax cut for small businesses.” This Republican bill is opposed by Democrats and Obama threatened a veto. Giving Obama credit is like giving Custer credit for Little Big Horn.

Skibbins: “Obama fought (unemployment) down from 10 percent to the current 8 percent and it’s still dropping.” Actually, 8.2% and rising, making this the longest period since the Depression with unemployment above 8%. The labor force is 500,000 workers smaller today than it was when Obama took office.  Counting population growth since then, the economy is actually missing 7.7 million workers, who still exist, and who still don’t have jobs. If labor force participation hadn’t dropped, the unemployment rate would be 11%. That’s the Obama way to fight unemployment – get everyone to stop looking.

Actually, an all time record 5.1 million Americans are suffering long term unemployment for 27 weeks or more, nearly double compared to when Obama entered office in January, 2009.

Skibbins: Bush increased the debt by $5 trillion, Obama $1 trillion. True, Bush increased it almost $5 trillion in eight years, but Obama increased it over $5 trillion in three years, aided and abetted by a profligate Democrat Congress.

Finally, Obama was inexperienced when elected, and it shows. Even New York Times staunch liberal columnist Maureen Dowd has noticed: Dreaming of a Superhero?

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