Hit the Road Jack, er, Barack

Russ Steele

When a lefty magazine like Newsweek thinks that Obama’s Gotta Go, one if forced to examine the claim in more detail. Was it just trick to capture more of the their escaping readers, or was there more substance to the claim?

 Niall Ferguson: Obama’s Gotta Go

Why does Paul Ryan scare the president so much? Because Obama has broken his promises, and it’s clear that the GOP ticket’s path to prosperity is our only hope.

ooo

Yet the question confronting the country nearly four years later is not who was the better candidate four years ago. It is whether the winner has delivered on his promises. And the sad truth is that he has not.

In his inaugural address, Obama promised “not only to create new jobs, but to lay a new foundation for growth.” He promised to “build the roads and bridges, the electric grids, and digital lines that feed our commerce and bind us together.” He promised to “restore science to its rightful place and wield technology’s wonders to raise health care’s quality and lower its cost.” And he promised to “transform our schools and colleges and universities to meet the demands of a new age.” Unfortunately the president’s scorecard on every single one of those bold pledges is pitiful.

In an unguarded moment earlier this year, the president commented that the private sector of the economy was “doing fine.” Certainly, the stock market is well up (by 74 percent) relative to the close on Inauguration Day 2009. But the total number of private-sector jobs is still 4.3 million below the January 2008 peak. Meanwhile, since 2008, a staggering 3.6 million Americans have been added to Social Security’s disability insurance program. This is one of many ways unemployment is being concealed.

In his fiscal year 2010 budget—the first he presented—the president envisaged growth of 3.2 percent in 2010, 4.0 percent in 2011, 4.6 percent in 2012. The actual numbers were 2.4 percent in 2010 and 1.8 percent in 2011; few forecasters now expect it to be much above 2.3 percent this year.

Unemployment was supposed to be 6 percent by now. It has averaged 8.2 percent this year so far. Meanwhile real median annual household income has dropped more than 5 percent since June 2009. Nearly 110 million individuals received a welfare benefit in 2011, mostly Medicaid or food stamps.

Welcome to Obama’s America: nearly half the population is not represented on a taxable return—almost exactly the same proportion that lives in a household where at least one member receives some type of government benefit. We are becoming the 50–50 nation—half of us paying the taxes, the other half receiving the benefits.

You can read the rest of the Article HERE at the Daily Beast. The report includes a video and some very telling graphics.

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About Russ Steele
Freelance writer and climate change blogger. Russ spent twenty years in the Air Force as a navigator specializing in electronics warfare and digital systems. After his service he was employed for sixteen years as concept developer for TRW, an aerospace and automotive company, and then was CEO of a non-profit Internet provider for 18 months. Russ's articles have appeared in Comstock's Business, Capitol Journal, Trailer Life, Monitoring Times, and Idaho Magazine.

3 Responses to Hit the Road Jack, er, Barack

  1. Arthur M. Day. says:

    Oh my goodness! Newsweek has gone over to the Dark Side!

    I need to reread Revelations, I think it says something terrible is going to happen to the Devout Democrats if that happens.

  2. Sean says:

    Obama gave the country a shot in the arm. Too bad it contained a narcotic rather a stimulant.

  3. Newsweek received withering and widespread criticism over its “Hit the Road, Barack” cover story by Niall Ferguson. The magazine had become “an august publication letting itself be used to misinform readers,” critics said, “stumbling down the road toward Irrelevance Blvd.” The “Hit the Road” piece itself was “a fantasy world of incorrect and tendentious facts” and “completely incoherent” as well as “absurd propaganda, not journalism.”

    But it turns out the cover may have also been a newsstand hit.

    The Aug. 27 issue urging a Romney victory “may have just knocked one out of the park on newsstand sales,” according to the Magazine Information Network, or MagNet, which tracks magazine sales.

    The early read on sales suggests the issue could double Newsweek’s newsstand average, MagNet said. It’s also on track to land among the title’s top three newsstand sellers since 2010, according to MagNet data.

    A spokesman for Newsweek and The Daily Beast wasn’t immediately able to confirm MagNet’s newsstand numbers but said the issue sold well. “All reports indicate the August 27th issue was a strong performer both in print at the newsstand and on tablet,” the spokesman said.

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