The numbers are shocking arenít they? The price of gas is up nearly 70% while oil prices have skyrocketed 125% or more. Gold is up 60%, corn is up 78% and sugar is up 168%. Unemployment is up nearly 25% and the number of people on welfare is up 22%. Worse still, the number of Americans on food stamps is up 35%.
All of this is under Obamaís watch. There are a few reasons why these numbers are so terrible. First, the national debt has risen by 32% since Obama took office in January 2009. Itís slated to rise by $1.65 trillion or even $2 trillion if the GOP doesnít raise taxes as Obamaís budget demands. The Federal government is spending money that it doesnít have and that seriously hurts American taxpayers and American consumers.
But it doesnít stop there. Since Obama took office the money supply has increased 16%. That means the Fed is printing money, thus making the money you currently have less valuable. It should of course come as no surprise that the value of the American dollar is down 8% against the more stable Japanese Yen. This is of course bad news for most Americans because it means our money will purchase less goods. Since income is down almost 1%, it means that our income is really down closer to 10% because our dollar wonít purchase as much as it did before Obama took office. The prices of the basic food commodities stated above bear that out. Also note that Cotton is up around 125% since Obama took office, which means basics like clothing cost more.
Obama has been a disaster for middle class Americans and really for all Americans. Obama and the Federal Reserve are increasing the money supply and this making our money worth less. The Federal budget continues to skyrocket with no end in sight, making things worse for all of us. Obamacare has raised taxes and raised costs for employers. As a result, employers can hire fewer workers and cannot offer cost of living raises to their employees. Obamaís massive regulation push is causing employers not to hire while Obamaís Wall Street regulations are causing investors to sit on their money rather than invest in new jobs.
Obama has made our lives worse in just two years on the job. His answer is more government. He wants more regulations, more government bureaucrats running the free market, more government involvement in your daily life. The Department of Health and Human Services under Obama spends more money in one year than the entire Federal government did in 1965. Yet Obama wants more government. There is an alternative to Obama and thatís a return to the principles of limited government that our founders believed in. We must work hard (and pray hard) that the Republicans nominate someone who believes in limited government. The current course of government is unsustainable. It will result in financial ruin for this nation. It will result in the poor house for the middle class.