America’s status, under President Obama’s administration, is as follows:
• The nation’s credit rating dropped from AAA to AA-plus.
• The national debt increased from $9 trillion in 2008 to $15.5 trillion.
• Obama denied the Keystone pipeline, hopes of lower gas prices and thousands of jobs.
• The borrowing deficit is 40 percent, or 40 cents against every $1, and rising.
• In Obama’s three years, yearly unemployment has averaged 14.3 million. President Clinton’s eight-year average was 7 million. President George W. Bush’s eight-year average was 7.8 million. Obama has a staggering 104 percent increase over Clinton and an 83 percent increase over Bush. Since 1947, yearly unemployment has ranged from a 1953 low of 1.8 million to a 1983 high of 10.7 million. Never has America suffered with an unprecedented yearly average of 14.3 million people unemployed.
• The federal government, through bailouts, has improperly entangled itself in the private sector of General Motors. It owns 26.5 percent of GM, which has unfunded pension obligations of $27 billion, due in 2014.
Obama has failed to implement or operate under a budget for more than three years. He has shown unprecedented and flagrant disrespect for budget deadlines and obligations. Here are Obama’s administration budget failures:
• He missed budget deadlines more than any other president.
• In 90 years, from fiscal years 1923 to 2013, he’s the only president to miss deadline two years in a row.
• He is the only president to miss deadline in three years of a four-year term.
• He holds the record for the longest delay in submitting a budget – 98 days in FY 2010.
May God bless America!
North Augusta, S.C.