Obahma says economy is right were it should be

Unemployment hit 9.8% last month and much higher elsewhere. So much for Obama turning the economy around. He claimed recently that the economy is where it should be, what?
Someone said: He is correct, the government is getting bigger and were taxing the hell out everyone"

He's pushing for more tax increases, record deficits, and carbon taxes. More jobs will be lost.

As of the end of May, only 6% of Obama's $787 billion "stimulus" had been spent. Starting in March, many economists said the economy was turning around, that the recession was easing. I believe they are right. Obama's massive "stimulus" had nothing to do with it. He's trying to take credit for it, though.

Obama has now promised to "create or save" 600,000 jobs in 100 days. Members of his administration admit there is no way to measure how many jobs were "saved" by his programs.

College graduates are now flooding into the job market. The unemployment rate will surely surpass 10% in two or three months.

The Chinese continue to express grave doubts about the future of the United States because of massive Democrat borrowing. The budget deficit for fiscal year 2009 is now estimated to be $1.8 trillion. That is 4 times higher than last fiscal year's budget deficit under Bush.

Obama's spending:

$787 billion
+ $410 billion omnibus spending (including almost 9,000 earmarks Obama promised to oppose)
+ $350 billion TARP being spent by Obama
= $1.547 trillion spent by Obama in the four months since being inaugurated.

Banks are lining up to repay the TARP money they got under Bush--they didn't really need it. Since that money is being repaid, there is now way you can assign that portion of Bush's spending to the 2009 budget deficit since it is coming back. That money is being repaid with interest.

The Chinese have grave doubts about the future of the United States because of the Democrats' deficit spending. They are looking to get out of US dollars. What will be the result of Democrat deficit spending?

* Higher taxes on everyone
* High inflation
* High interest rates
* More job loss
* Weak, if non-existant, economic growth

These things will kill the economy. There is only so much money out there to be borrowed. In order to borrow at such high levels, interest rates throughout the entire economy will have to rise. The government will not be able to borrow at 3% like it has been doing the past few years. When the interest rates on treasuries goes up, interest rates on all debt including mortgages goes up. Values of all investments goes down.

How can you Democrats not see this?

-AB