A Post-Obamanomics Growth Plan: Start By Slashing Taxes, Spending

October 6, 2010 06:39

Obamanomics has failed.  More people suffer in poverty today in America than since the Census Bureau began keeping poverty records 51 years ago.  The total is 44 million, one in seven Americans.

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Nearly 15 million people remained unemployed in August, with more than 6 million long-term unemployed for six months or more, the most since the Great Depression.

An additional 2.4 million “wanted and were available for work and had looked for a job in the prior 12 months,” but had given up.

That makes 26.2 million Americans unemployed or underemployed.

But the continuing disastrous economic performance 32 months after the start of the recession, and 14 months after it supposedly ended, shows how badly Obamanomics and its unreconstructed, throwback, trillion-dollar Keynesian stimulus strategy has failed America.

Under President Obama’s policies, economic growth is already in a tailspin again, falling from 5% in the fourth quarter of 2009 to 3.7% in the first quarter this year to 1.7% in the second quarter, portending a renewed, double-dip recession.

With the top 1% of income earners already paying more in federal income taxes than the bottom 95% combined even before the slated increases occur, don’t expect any increased revenue from this tax piracy.

It is time to discard the failed tax-and-spend policies of this administration and replace them with a simple agenda of proven policies to revive America and restore prosperity throughout the land.

Just as starters, repealing ObamaCare alone would save $2 trillion to $3 trillion during the next 20 years.


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