Skip to comments.The Ongoing Disgrace That Is Obamanomics
Posted on 06/08/2012 8:50:24 PM PDT by bruinbirdman
President Obama has led America into an accelerating downward spiral. Destination: Argentina. Last Fridays calamitous jobs report was just a signpost on the way.
Argentina enjoyed the worlds fourth highest per capita GDP in 1929, on par with the U.S. at the time. But then the nation lost its way through its embrace of a leftist, union allied government, which took control of the economy and imposed wildly irresponsible taxes, spending, deficits and debt. After World War II, the hugely popular Juan Peron came to power and institutionalized the madness. It has been all downhill for Argentina ever since. Sound familiar?
Today, Argentina ranks 53rd in the world in per capita GDP according to the International Monetary Fund, 57th in the CIA World Factbook, at a level less than one third that of the U.S. But its national debt at 51% of GDP is actually less than that of the United States under the Obama Administration, where we are rocketing towards 70% of GDP by the end of this year, and 200% in 25 years, according to CBO.
Fridays jobs report shows Obamas Juan Peron trend. While a measly 69,000 jobs were created in May, the report adjusted downward the jobs created in March and April by 49,000, leaving actually only 20,000 new jobs on net. The number of jobs created has declined every month this year.
While Obama and his propagandists claim 27 consecutive months of job growth, employment growth is the norm and not the exception for the American economy. In the 62 years from the end of World War II in 1945 until 2008, jobs grew in 86% of the months, or 640 out of 744. But Obama and his propagandists think you are too stupid to know the country you live in. They know at least
(Excerpt) Read more at forbes.com ...
when you waste trillions, it’s easy to steal billions
I just hope all those that suffered from “white guilt” during the last presidential election are reflecting on their stupidity.
Is this what you moderates wanted when you were talking down to us in 2008?
The Argentina parallel is interesting when you think if Peron and EVITA ...see any parallels with the latter? (Rainbow Tour for instance?)
That would have been Bill and Hill. Lord knows they tried.
Thanks Vintage Freeper for posting this: