Newsweek magazine, well-known for its ultra-left leanings, fawning lovefest with Obama, and open disdain for all things Republican and/or conservative, has come out with an August shocker:
Yes, you read that headline correctly. "Hit the road, Barack - Why We Need a New President." ON THE COVER OF NEWSWEEK!!!
The actual article was written by Niall Ferguson, a British historian and economist. In his column, Ferguson lists WHY Obama must not be re-elected, using factual examples of Obama's failings.
A small sampling:
1) Obama promised, when elected, to add new jobs and lay a foundation for economic growth. (We all know how well that worked out - unemployment went above 8% and continues to stay there. More people aren't even being counted in the unemployment numbers anymore since they have stopped looking for employment. The real national unemployment number is closer to 15%. Obama's open disdain for the private sector and hard workers was on full display when he arrogantly stated: "You didn't build that" when referencing those who did, indeed, build that. And the additional rules, regulations and taxes being imposed on businesses by an ever-expanding Obama government is NOT "laying the foundation for economic growth." Obama's policies are killing economic growth.)
2) Real median annual household income has dropped more than 5 percent since June 2009. Nearly 110 million individuals received a welfare benefit in 2011, mostly Medicaid or food stamps.
3) Since 2008, Obama's government has added 3.6 million people to the Social Security program under disability (for many, this is a last resort once 60 to 99 weeks worth of unemployment benefits run out.).
4) And all this despite a far bigger hike in the federal debt than we were promised. According to the 2010 budget, the debt in public hands was supposed to fall in relation to GDP from 67 percent in 2010 to less than 66 percent this year. If only. By the end of this year, according to the Congressional Budget Office (CBO), it will reach 70 percent of GDP. These figures significantly understate the debt problem, however. The ratio that matters is debt to revenue. That number has leapt upward from 165 percent in 2008 to 262 percent this year, according to figures from the International Monetary Fund. Among developed economies, only Ireland and Spain have seen a bigger deterioration.
5) Unemployment was supposed to be 6 percent by now. It has averaged 8.2 percent this year so far. (It was even as high as 10% early in Obama's term.)
6) Not only did the initial fiscal stimulus fade after the sugar rush of 2009, but the president has done absolutely nothing to close the long-term gap between spending and revenue.
7) Welcome to Obama’s America: nearly half the population is not represented on a taxable return—almost exactly the same proportion that lives in a household where at least one member receives some type of government benefit. We are becoming the 50–50 nation—half of us paying the taxes, the other half receiving the benefits.
Ferguson points out many other Obama broken promises and policy disasters (including, of course, health care reform known as "Obamacare"or "Obamatax") , and reaches the following conclusion:
It will be interesting to see future editions of Newsweek. Only time will tell if the Obama story is just an anomaly - or are the folks at Newsweek REALLY tearing up their Obama Fan Club membership cards...
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