Climbing out of a deep, deep hole is difficult and takes time, but the U.S. economy is successfully accomplishing this under the leadership of President Obama
When people, including Mitt Romney, state that Obama isn't keeping his promises for improving the economy and employment, they unintentionally, or intentionally, ignore the economic situation thorough which the country has been. The deficit Obama inherited created a very deep hole from which the United States had been working to traverse. This eleven trillion dollar hole occurred when George W. Bush paid for two massive wars and two huge tax cuts for the rich on a credit card. I was astounded at the time when he did this and wondered where it would lead. Mitt Romney's cowboy attitudes against China and other countries are the same as those of George W. Bush, which took the U.S. to war in Iraq. So, if Romney takes the U.S. into war, he could use his two trillion dollars military budget, which the military says is not needed.
Despite of this huge deficit, under the Obama Administration, the economy is coming back with great reviews. This began with saving the auto industry in the bailout. At a recipient of the stimulus money in Ames, Iowa, Governor Romney in a speech said it would take four or more years to reach the goal of twelve million more jobs. I guess it DOES take time to get the economy back on solid ground. However, under Obama, we already have 5 millions more jobs, the unemployment rate is down, in the 7 o/o digits, and the GDP figures are up by 2%.
Romney's plan for dealing with the economic recovery is sketchy at best. All is known is Romney said it would take about eight years to get out of debt. He wants a two trillion dollar military budget and to not raise taxes on anyone. That doesn't add up mathematically. Romney said he would make up the money by eliminating deductions and loopholes, but which ones? Romney states that, perhaps, deductions would be put in one pot and set an arbitrary monetary limit a person can take. People would have to choose the deduction(s) they want within this limit. There is no telling what people's programs will be cut or eliminated and who will pay taxes to make up the difference.
President Obama has laid out a detail plan of an economic recovery that will last. This plan includes creating 1 million manufacturing jobs by 2016; already 500,000 of such jobs have been established. Small businesses will be helped by cutting their taxes; investing money in entrepreneurs; and making sure that overseas markets will expand. Obama recognized that quality education is an important building block to prepare the middle class for good paying jobs, thereby providing numerous jobs for good teachers. Increasing reliance on clean American energy is shown in Obama's goal of cutting the oil export in half by 2016, which is already being done by nearly 30% earlier in this year. The deficit can be cut by 4 trillion dollars with closing special loopholes and those for the wealthy plus cutting expenses where it can be done. Obama will cut the middle class' taxes. One of the biggest benefits of the Obama Administration is the health care reform, putting the individual's health in their own hands. This reform let young people until 26 years old stay on their parent's health insurance; let those with pre-existing conditions have coverage; have no co-pay for preventative care; close the donut hole and make insurance affordable.
Let's stay with OBAMA, who is currently staying with the national citizens going through a huge hurricane with directing FEMA. This is the caring OBAMA for all, especially the middle class. Vote for OBAMA, so he can grow the economy from the middle class out, NOT from the top down. I have not seen anything that has "trickled down."
by Kathleen O'Leary
Tue, October 30, 2012
by Kathleen O'Leary