With the clock ticking down to President Obama’s re-election, many left-wing economists and political pundits have been anxious to declare an end to the recession.  Their predicament is dire because the economy shows few signs of recovery.  Since the Democrats took control of Congress and the Senate in 2006, there has been little good news as our economy has been in a death spiral aggravated by misguided Democrat policies and they should be held accountable for their misdeeds.

Rapidly rising Energy prices acted as the match that lit the recessional fires while Democrats mocked the prospect of drilling for our own oil, badmouthed coal and snubbed nuclear power.  Since Obama has been president he has further strangled energy production through his moratoriums on oil drilling and stalled licensing approval for nuclear plant construction.  After a brief reprise, energy prices are once again on the rise and while Obama has paid lip service to oil drilling attempting to paint himself as a born again believer in oil, Obama’s admitted penchant for high oil prices and his promise that his energy plan would “necessary cause energy prices to skyrocket” will ensure the pain of high energy prices will be enduring. 

The housing market was built on a house of cards due to Democrat policies of forcing financial companies to provide mortgages to those unable to repay, a risky scheme entirely dependent on continued escalating housing prices that would provide those individuals with increased equity.  Unfortunately, when the economy turned south many of them lost jobs and predictably defaulted on their mortgages, causing home prices to drop precipitously.  TARP and Stimulus programs pumped significant sums of money into the NY and Washington D.C. housing markets artificially steadying and in some cases increasing their values, and combined with misguided Obama policies such as the first time homebuyer tax credit program and programs aimed at delaying defaults merely have prolonged the agony.  The nation’s housing market is once again seeking its bottom  and will likely be depressed well into the future.

Unemployment for the six Bush years prior to the Democrat takeover in 2006 averaged 5.28 percent.  Since then the unemployment rate has averaged 7.33 percent and over 9 percent the past two and a half years of Obama’s presidency. 

During the first six years of Bush, Gross Domestic Product (GDP) grew at an average of 3.1 percent.   Since the Democrats took control in 2006, the GDP has averaged only 2.3 percent  and during Obama’s three years has grown a paltry 2  percent

Economists fear the anemic growth is not only insufficient to provide jobs, but may be a sign of worse things to come.

There are many reasons for the slow growth, most significantly the uncertainty Obama has injected into the business sector with his misguided Healthcare plan and environmental regulations. Businesses have been holding on to their investment dollars and are delaying hiring decisions until the time they will be able to better forecast the impact of regulation and how they will add to their expenses.  Before Democrats crammed Obamacare down our throats, Nancy Pelosi famously declared that, “we have to pass it so that we can know what is in it”.  Now that we know what is in it the bill is such a debacle that the Obama administration has already provided over 1500 business and corporate waivers to the plan, a stark admission the bill is fatally flawed.  It is time that our entire nation is granted a permanent waiver to Obamacare and congress should start over in a solution to the nation’s healthcare needs that would put the business sector at ease. 

Inflation has officially been declared to be in check, but the American people know better.   The factors that make up inflation were changed to eliminate energy and food prices from the Consumer Price Index and moved to the Core Price Index that is not factored into inflation.  Absurd changes since those areas comprise the biggest expenses for the middle class.

After declaring himself the fiscally responsible candidate, Obama has run up the biggest deficits and accompanying debt in the history of the nation.  Just before the Democrat takeover in 2006, the deficit was $167 billion.  Since then the deficits have escalated from their first budget in 2007 to $1.3, $1.4 and $1.5 trillion in each of Obama’s first three years, respectively.  Moreover, the national debt has soared from $10 trillion to $14.3 trillion, so much for being the fiscal responsibility president.  

Anemic economic growth, escalating energy prices, high unemployment, and decreasing property values are all a recipe for economic disaster.  The false media narrative when Obama became president is that we were experiencing the worst economy since the great depression at a time when it failed to approach even the severity of Jimmy Carter’s years.  Obama’s presidency and misguided policies have guaranteed that we are headed for an economy as bad as or worse than the Great Depression, unless he fails re-election.  It is not too late for a new president who will hopefully possess extensive Business experience and a solid background in Economics, to dismantle Obama’s mischief and guide our economic ship to brighter waters.