Obama's Legacy: A Failed Recovery & Double-Dip Recession

what about his death care bill

it will further ruin this country

When the stock market drops, the smart money invests. Buy low and sell high is the mantra of the successful investor. Just ask Warren Buffet.

The same is true on Main Street. For small businesses, this is the time to scale back on your personal desires and invest. Money is cheap and plentiful for heretofore successful small businesses with a good track record and a sound business plan. Property is dropping to bargain basement prices. You should be bargain hunting and investing instead of whining about federal income taxes.

You know you can reduce your income tax burden by investing in and growing your business. Position yourself for the coming recovery.

If you want to attack the Tax Monster, start at the local and state level. The real growth killer is the sales tax. Second in line is your local property taxes. Then there are the hidden taxes like gasoline and cigarettes, the lions share of which line the pockets of your state politicians and their cronies. Not only do they slow your economy but they are expensive to collect and administer. By their very nature, they are prone to fraud and abuse.

But you know all this already, you'd just rather whine about federal income taxes. You're spoiled and lazy. Go back and read your Paul Samuelson texts from your Economics classes in college. Re-enlighten yourself. Then you'll be positioned to thrive.

these evil men do the same thing phony stimulus plans that make the rich profit while the people sink under. We need jobs and these idiots think throwing money around is going to improve things. We need to stop bringing people from other countries to take American jobs that are left. we need American jobs created with new industry. We need representatives that are not traitors and care about the people! We need new people with new ideas not the same old rotton same people running over and over again show these imbacils we have a brain vote Ron Paul because these cruds are afraid of him !

The greatest transfer of wealth is occurring right before our eyes... All orchestrated by the CFC.

You people are are so gullible... Whether it's a demo or a repub, the CFC pulls the strings. They divide us politically so they can conquer us financially.

I never trusted Obama when he won the Elections, somehow...that name reminded me of Treachory and Murder...Oh yeah...I was thinking about OSAMA! And a man who had a controversy of his past...well...You may blame Bush for these, but Bush was more concerned about the Terrorist threats and did what he thaught best to protect Americans like YOU!
But remember that the president is not the only one in this little circle...Congress had its say too...as well as the Justice Department (that is the way the American system is based, three branches...each one monitoring the other, so I place the blame on congress (with its porkbelly expenditures) as well as the President.

Obama is a puppet of the Corporate Financial Complex, as is most of government... The CFC's interests will always come first so long as money is allowed to influence elections.

Obama Koolaid: 100% Fact Free... the drink of Libs

Four more years of the only democrat that can run for president? Guts? Fools! It isn't a reelection bid, it's a failed democratic caucus led by the money hungry liberal failure of the highest magnitude ever! WOW!

I like the article as it places blame squarely upon the correct shoulders: ALL! Obama may be in the title, but we all bear blame in many ways. Let us choose ever more wisely and think critically, educate as we begin the voting process. My article touches on the subject. Please Google the title "For Whom the Vote Tallies."

Reasoning and facts showing why GOP tax cuts for their wealthy masters do not create jobs.

First, since the 2001 Bush tax cuts, the only significant economic growth occurred during the housing and credit bubbles from 2003 to 2007. When those bubble burst, all those new jobs disappeared. There have been practically no new jobs created in America since the 2001 Bush tax cuts, while 22 million jobs were created in the 8 years before those tax cuts.

Second, why would tax cuts for the wealthy create any jobs anyway? Right now, US corporations have $1.7 trillion in cash and they are not expanding and hiring - because there is no demand for more of their products - because middle class consumers have no additional money to spend and the wealthy are spending as much as they desire. If wealthy corporations see no reason to expand and hire, why would wealthy citizens use their windfall savings in income taxes to expand their businesses and hire?

Third. Tax revenues in 2010 were 14.8% of GDP - the lowest rate in 60 years - and the tax rate on the wealthiest 400 Americans (who averaged $345 million income) fell to just 17.2% in 2010 - the lowest rate in 80 years. Now if Conservative GOP trickle-down economic theory had any merit at all, America should be overflowing with job growth right now - due to these historically low tax rates.

This is for all Conservatives who are under the delusion that Bush's tax cuts actually increased tax revenues.

It's true there was an increase in tax revenues from 2003 to 2007 - but those tax revenue increases were due to bubbles in housing, commodities, and credit.

Here how we know that bubbles were the cause of those revenue increases: Because tax revenues plummeted when the housing and credit bubbles burst - plummeted about $400 billion the first year after the bubbles burst - and in FY2010 total federal revenue was just $2.162 trillion according to the CBO - just slightly higher than the $2.025 trillion way back in 2000 before Bush's tax cuts. This proves the tax revenue increases were temporary and the result of the bubbles - not Bush's tax cuts - because the only change from 2003 was the bursting of the bubbles and the resulting recession - and actual tax policy has not changed since 2003.

Federal revenues are now about the same as they were way back in 2000 - which shows that since the Bush tax cuts we have gone 10 years without any significant revenue growth - that tax revenues have lagged way behind both GDP growth and inflation - a terrifying fact and the principal cause of our current budget deficit.

Interestingly there have been practically no net US jobs created since the Bush 2001 tax cuts - and all the job growth in 2003-2007 was again just temporary - because all those jobs created during the bubbles disappeared as the bubbles burst. Considering that the budget was nearly balanced in 2001 and now the deficit is 10% of GDP - 10% of the economy - supporting 10% of the US work force - which is about to become unemployed as the deficit is cut - then we are actually about to lose 10% of the American work force since those Bush GOP tax cuts.

Historically it has always taken longer to recover from a recession due to a financial crisis - like this time after the worst financial crisis in history - facts the author conveniently ignores. But this recovery is different because the US is in a global economy this time.

In all American history we have never had to recover from a recession with our unemployed middle class workers competing for jobs with foreign workers earning 1/10 the wages - about $1.50 per hour - and where US CEOs could earn immense profits by expanding in cheap foreign labor markets rather than hiring US workers. US companies created 1.4 million jobs last year - in foreign countries - so the cause of our poor recovery should be obvious to all.

Unless free trade is ended and outsourcing reversed, the US is headed for a Depression. The oversupply of labor for available jobs in the US - compounded by high tech productivity gains reducing the demand for American labor - is crushing middle class wages and the middle class tax base through the basic economic law of supply and demand for American labor. The global economy averages $1.50 per hour wages and 30% unemployment - and that's where America is heading unless outsourcing is reversed very quickly.

Every clever American innovator is trying to develop the next great innovation that they can produce in Asia and make a fortune while bankrupting America. That's what free trade means to America - unemployment, indebtedness, and bankruptcy from our own innovations!

Case in point: Apple iPods, iPads, and iPhones - all great American innovations - all made in Asia - all helping to bankrupt America as American dollars and jobs flow to Asia.

Right now Apple still has a lot of engineering and other white collar jobs in America, but soon management will be under shareholder pressure to take advantage of $5 per hour engineering wages in China and India - to increase profits. Apple was briefly the largest US corporation by market cap recently. Thanks to free trade, soon the largest US corporation will have practically no US work force.

How did Conservative GOP policies and decisions destroy America?

When Bush took office in 2001, PAYGO rules were in effect - rules that under Clinton reduced the deficit to practically zero and guaranteed future deficits would be small and manageable. The first thing the GOP Congress did under Bush was circumvent PAYGO rules with a 10-year sunset clause in the 2001 tax cuts, then the GOP congress let PAYGO expire in 2002 so that Bush did not need to fund two wars, the GOP Medicare prescription drug program, and more tax cuts in 2003. The GOP completely destroyed this country's finances by running up $6 trillion in new debt under Bush after inheriting a nearly balanced budget, and those Bush tax cuts created zero jobs - because the only economic growth occurred during 2003-2007 and was due to bubbles in housing and credit artificially bolstering consumer spending and hiring. Proof is that all those jobs created during the bubbles disappeared when the bubbles burst.

The other conservative policy to destroy this country was free trade agreements - in particular NAFTA and China PNTR - both signed by Clinton but supported by 3/4 of the GOP in congress and opposed by a majority of Dems and nearly all liberals and unions. Now that we've outsourced 10 million jobs in 10 years, we have a surplus of workers for a reduced number of jobs - decimating middle class wages through the basic economic law of supply and demand for labor - destroying the middle class tax base and causing deficits at all levels of government and a crisis in SS and Medicare. Proof: 47% of Americans paid no income tax in 2010 - up from just 32% in 2003 even though there have been no significant changes to the tax code since 2003. That's how fast Conservative free trade policy is turning middle class tax payers into unemployed and low-paid welfare cases.

Bush left office with a $1.3 trillion budget deficit for FY2009 - and the deficit has not increased from this level in any significant way since Obama took office. Here is the proof:

FY2009 Deficit $1.29 trillion estimate by CBO in January 2009 before Obama takes office. This deficit Obama inherited. It's the final Bush deficit.
FY2009 Deficit $1.42 trillion final after Obama adds $130 billion in stimulus spending to the Bush deficit - the amount of his stimulus and cash for clunkers spent in FY2009 (CBO numbers).
FY2010 Deficit $1.29 trillion - Obama's first deficit - equal to the deficit he inherited (CBO numbers).
FY2011 Deficit $1.3 trillion latest estimate by CBO on August 28, 2011 - essentially equal to the deficit Obama inherited in January 2009!

The FY2009 budget began four months before Obama became president - and the dramatic deficit increase in FY2009 was mostly due to a $400 billion drop in tax revenues and a $700 billion TARP - signed by Bush and supported by a majority of the GOP in Congress. So anyone claiming that Obama is responsible for three years of trillion dollar deficits is a liar - just like the author of this article, Fox News, Heritage, Bachmann with her charts, etc.

Give me one GOP that can fix the country problems if Obama is such a failure

The key word here is dip,as in dip deeper in the working folks pockets then double dip deeper in our pockets

This is for the left poster they always seem to like this one! Name one country that has taxed its citizens to prosperity! Name one country that has increased GDP jobs by increasing taxes! Name one country that has spent its self out of a recession/depression!" And no its not the New Deal!

You know I defy anyone, who thinks the Government should spend more money to go and spend 25% more than you bring in each month and see how that works out for you!