President Obama’s Biggest “Whopper” Yet

I’m out of town today assisting an elderly relative (96 year-old Mother-In-Law), so I thought I would reprint the following article from Investor’s Business Daily. On Labor Day, President Obama made an outrageous statement that has to rank as one of his biggest whoppers ever! To my knowledge, no one in the mainstream media called him out on it, except for the IBD editorial below which appeared the following day.

Obama Has It Wrong — American Workers
Aren’t Better Off Under His Policies

Economy: Time was, they had fact-checkers at the White House. They must’ve had the weekend off when President Obama let go a whopper at a Labor Day rally in Milwaukee.

“By almost every measure,” he boasted, “the American economy and American workers are better off than when I took office.” This must explain why nearly half of American workers believe the U.S. is still in a recession.

Sure, the stock market’s done well and employment has picked up, but the most important indicator of their financial situation is whether take-home pay keeps pace with inflation. And by this measure most households are falling behind.

Median household income, according to the Census Bureau, is down by more than $2,000 [a year] in real terms since Obama moved into the Oval Office in January 2009 and has dropped $1,600 since the recession officially ended five months later.

One big reason household incomes have stalled is that labor force participation has fallen by 3 percentage points, representing an added 7 million Americans not even seeking employment. When people don’t work, their income falls effectively to zero.

This vaunted recovery is half the normal pace in terms of job creation and GDP growth, according to a report from the Republicans on the Joint Economic Committee of Congress. JEC also reports this is the weakest rebound from a recession since the Great Depression.

We are 5 million jobs below where the president’s economic team told us we would be when they sold the snake oil of a $830 billion fiscal stimulus plan.

After 5-1/2 years in the White House, Obama has added almost $7 trillion in debt with little to show for it — unless you count 46 million Americans on food stamps as an accomplishment.

Obama claims he has a plan to put the economy back to work. “I’m not asking for the moon. I’m asking for policies that help folks get ahead. … Republicans running Congress are opposed to them,” Obama said Monday [Labor Day].

The last time we looked, Democrats and Harry Reid still ran the Senate, and that’s been the graveyard of economic growth policies. Reid won’t even allow votes on the Keystone pipeline, corporate tax reform, medical-device tax repeal, a repatriation holiday to bring $1 trillion to $2 trillion of capital locked overseas back to America or an end to the ObamaCare 30-hour-a-week rule for full-time employment, to name just a few.

The president is angry that House Republicans oppose raising the minimum wage to $10.10 an hour.

But how is that going to help financially squeezed middle-class families? Only about 5% of workers earn the minimum. Most of the remaining 95% are running on a financial treadmill.

What Obama covets is that rubber stamp he had in the first two years of his presidency — a stamp that approved ObamaCare, the stimulus, tax increases on investment, Dodd-Frank, cash for clunkers, bail-outs and a grand expansion of the welfare state.

Actually, he is asking for the moon, and the quickest way to tank the economy again is for voters to give it to him. END QUOTE

The question is, does President Obama really believe what he said on Labor Day? Or does he know it’s not true but says it anyway, knowing the mainstream media will not challenge him? We’ll probably never know!

What do you think? Post your comment.

Americans Are Hoarding Money, But Why?

In the wake of the Great Recession and the worst financial crisis since the Great Depression, worried Americans are hoarding more cash than at any time in the last 25 years. According to the Fed, US households are sitting on $2.15 trillion in checking and savings accounts – about a 50% increase over the past…

Obama to Circumvent Congress on New Climate Deal

President Obama is working to forge a sweeping international climate change agreement to compel nations to cut their fossil fuel emissions – but without ratification from Congress. Under the Constitution, a president may enter into a legally binding treaty only if it is approved by a two-thirds majority of the Senate. Knowing that the Senate…

0 Comments - Leave a comment!

ISIS Training Western Terrorists To Attack Europe & US

Written on by in Political & Geopolitical

On Tuesday, I received the latest briefing from one of my best geopolitical/intelligence sources, LIGNET (Langley Intelligence Network, subscription-only), regarding the Islamic State of Iraq and Syria (ISIS) – the ruthless band of terrorists that has seized control of large parts of northern Iraq and western Syria. ISIS numbers have surged from 5,000-10,000 last year…

0 Comments - Leave a comment!

Surprising New Wall Street Journal/NBC News Poll

In my E-Letter on Tuesday, I cited a recent RealClearPolitics poll average on the question of whether the country is headed in the “right direction” or is on the “wrong track.” That poll average found that only 26.0% of respondents believe the country is headed in the right direction, while 64.3% said the country is…

0 Comments - Leave a comment!