Where’s The Recovery?
Today’s announcement that the unemployment rate has hit a 26-year high is crushing news to millions of Americans desperately in need of employment and to those hoping that “change” was on the way. The administration promised us that the stimulus plan would hold the line on unemployment. In fact, we were told that if lawmakers didn’t waste time trying to read the bill and just voted “yes,” unemployment would go no higher than 8%. Today it stands at 9.5%, and even Obama now concedes it will hit double digits.
Twenty-six years ago, the nation was mired in a deep recession, much worse than the one we are facing today. How did we get out of it? Back then President Ronald Reagan slashed taxes and did his best to reduce spending. The world marveled at the Reagan Recovery. Today, Barack Obama is spending money we don’t have on things we don’t need. He’s also promising to raise taxes through the roof to create new programs we can’t afford. In short, he’s doing the exact opposite of what worked for Ronald Reagan, and putting America on the fast track to the “Barack Bankruptcy.”
Related posts: