Fiscal Cliff or Not — Headed Toward Economic Disaster
Americans inexplicably re-elected The Dear Leader despite colossal failure on the economy during the last four years. And guess what? It’s going to get worse, much worse.
Number of Americans now living below the poverty line: 46,000,000
Number of Americans on disability benefits: 9,000,000
Number of Americans on food stamps: 46,700,000
— 70% increase since 2007
— 44% increase since Obama took office
— The number of single adults on food stamps doubled in 2009 when Obama suspended the work requirement as part of his “Stimulus’” package.
Unemployment rate: 7.9%
Real unemployment rate: 14.7%
Median household income: $54,500 in 2007; $50,700 in 2012 (Down 8.2% since Obama took office)
Debt added by Obama in four years: $5.4 Trillion
For every $1 added to the economy, Obama added $3 in debt.
Overall public debt, near term:$16 Trillion
Actual public debt counting unfunded promises in entitlements: $70 Trillion
Federal government debt added:
Per minute: $10,000,000
Per hour: $600,000,000
Per day: $14.4 Billion
Per month: $432 Billion
Per year: $5.2 Trillion
The Federal Government borrows at least 40 cents of every dollar it spends.
Total annual federal spending: $3.6 Trillion, about $10 billion per day
Total annual deficits: $1.1 Trillion
Taxing the rich 100% (all those making $250,000 per year or more) generates $1.9 Trillion in revenue. That runs the government for about 190 days.
This would destroy small business. And do you really think Obama will use that money to pay down our debt or balance the budget? When has he ever done that, ever?
The “rich” already pay the lion’s share of income taxes: the top 10% of earners pay 71% of taxes. Half those employed pay no income tax at all. How do you define ‘”fairness?”
Now, watch for massive tax increases across the board, Fiscal Cliff or no, thanks to ObamaCare.
Still, the Democrats want you to believe that food stamps and unemployment benefits are the best ways to overcome the recession, taxing the rich will address our debt addiction, raising taxes without spending cuts is logical, and government jobs are somehow superior to private sector jobs.
