Barack Obama's political epitaph takes shape [Reader Post]

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As the 2012 Presidential campaign gains speed, Barack Obama's political epitaph begins to take shape. Among the achievements etched into his political tombstone will be the following:

US Manufacturing Growth Slowest Since Sept 2009

The pace of growth in the U.S. manufacturing sector tumbled in May, slackening more than expected to its slowest since September 2009, according to an industry report released Wednesday.

The Institute for Supply Management (ISM) said its index of national factory activity fell to 53.5 in May from 60.4 the month before. The reading missed economists' expectations for 57.7.

A reading below 50 indicates contraction in the manufacturing sector, while a number above 50 means expansion.

New orders fell to 51.0 from 61.7 in April, the lowest since June 2009. The index for prices paid fell to 76.5 from 85.5, below expectations of 82.0.

The data echoed earlier regional reports that showed softer manufacturing growth last month.

ADP: U.S. Added Fewer Workers in May

Companies in the U.S. added fewer workers than forecast in May, a sign that job growth is struggling to gain momentum, data from a private report based on payrolls showed today.

Employment increased by 38,000 last month, the smallest increase since September, from a revised 177,000 in April, according to figures from ADP Employer Services. The median estimate in the Bloomberg News survey called for a 175,000 advance for May.

Such gains in employment are insufficient to help the world’s largest economy accelerate after a surge in food and fuel costs earlier this year. Businesses added 207,000 jobs last month after a 268,000 gain in April and the jobless rate dipped to 8.9 percent from 9 percent, economists project a Labor Department report to show in two days.

“It is a warning shot across the bow that job growth is also weakening along with the other high frequency numbers,” Eric Green, chief market economist at TD Securities Inc. in New York, said in an e-mailed note to clients. “The weakness reflects a general slowdown and turn in sentiment that set in with the sharp rise in energy prices, disruptions from Japan, and to a lesser extent risk aversion stemming from the Greek fiasco.”

George Santayana pipes in on Obamacare:

Health Secretary: funding crisis threatens the NHS

The National Health Service is facing a £20 billion-a-year funding black hole that will threaten its founding principles unless the Coalition’s controversial reforms are brought in to prevent it, the Health Secretary has warned.

In an article for The Daily Telegraph, Andrew Lansley says the core values of the NHS are under threat as never before from a “financial crisis” that will see annual health spending double to £230 billion a year without urgent reform.

While insisting he would never privatise the NHS, Mr Lansley warns that its future as a universal service, available to all and free at the point of use will be at risk “within years” if radical change is blocked.

The abyss is staring at us straight into our eyes and only politicians fail to see it.

Wall Street Baffled by Slowing Economy, Low Yields: Trader

Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.

“What we’ve got right now is almost near panic going on with money managers and people who are responsible for money,” he said. “They can not find a yield and you just don’t want to be putting your money into commodities or things that are punts that might work out or they might not depending on what happens with the economy.

“We need to find real yield and real returns on these assets. You see bad data, you see Treasurys rally, you see all bonds and all fixed-income rally and then the people who are betting against the U.S. economy start getting bearish on stocks. That’s a huge mistake.”

Housing Market Suffers Biggest Decline in 16 Months

The United States housing market has had a bad year.

Between March 2010 and March 2011, the market suffered its biggest year-over-year decline in 16 months. Property values in 20 cities fell to their lowest levels since 2003 with a 3.6 percent drop from March 2010 to March 2011, according to new figures from S&P/Case-Shiller.

The figure is slightly worse than 25 economists surveyed by Bloomberg expected. That group expected a 3.4 perccent drop with a range of 2.8 percent to 4.9 percent.

Nationally, prices sank 5.1 percent in the first quarter from the same time in 2010 and 4.2 percent from the previous three months. It was the biggest one-quarter decrease since the first three months of 2009.

Obama has implemented failing programs which are merely prolonging the housing collapse and all that does is prolong the recovery.

Sub-prime mortgages are making a return

Depending upon your point of view, Housing & Urban Development’s (HUD) recent decision on September 3, 2010, to lower new minimum credit scores and loan-to-value (LTV) ratio requirements for FHA-insured loans is either a genius financial decision to reduce a large inventory of empty homes and soon to be foreclosed homes, or it’s a monumental mistake about to bite us all in the backside by, once again, manipulating free markets to serve political agendas.

Geithner protects some derivatives from Dodd-Frank!

WASHINGTON (Reuters) — In what was characterized as a victory for business, the Treasury Department proposed on Friday that commonly used foreign exchange swaps and forwards should be exempted from rules intended to tighten oversight of other derivatives.

More Americans depend on food stamps than ever before

NEW YORK (CNNMoney) — One in six Americans is receiving help from the government, just as fiscal austerity threatens to reduce some of that aid.

Soaring unemployment during The Great Recession has driven tens of millions of people to the dole. Enrollment in Medicaid and food stamp programs are at record highs, while unemployment insurance rolls remain at elevated levels. Many people depend on more than one program.

Experts: Gas Prices To Hit $5 A Gallon

SOUTHGATE, Mich. — Gas prices could rise to $5 a gallon this summer, according to financial experts.

Goldman Sachs estimates oil could reach $135 a barrel by mid-July, with the corresponding price of gasoline hitting $5 a gallon.

Obama saves Detroit courtesy of a $14 billion loss:

WASHINGTON – The Obama administration said Wednesday that the government will lose about $14 billion in taxpayer funds from the bailout of the U.S. auto industry.

A $14 billion dollar loss is a success in Obamaworld. Obama saved auto unions and made the US taxpayer eat the legacy costs.

It's like Doug Ross said:

If this Republic is to survive, we need to elect a president in 2012 who will operate using a playbook unknown to the Left:

The Constitution.

The document upon which politicians swear to the Creator to protect and uphold. And then, in the case of Barack Obama, promptly ignores.

The Constitution. Faith, family, individual liberty, private property rights.

Not big government, unchecked entitlements, mandated light bulbs and shower heads; not Europe-lite.

The Constitution. Thousands of years of human experience codified into a single document that created the greatest system of government ever seen on the face of the Earth. Not perfect, because no system is perfect, but the most perfect ever created.

We need to elect a president in 2012 that will protect all Americans, not the racial separatist groups, not the race-baiters, not the imploding welfare state addicts, not the politicians addicted to unlimited power. A president who will protect all Americans and, by logical extension, the American system of government itself.

It's 2012 or never.

Indeed.

We can't blame Barack Obama for anything because he's a democrat.

We can't blame Barack Obama for anything because he's a liberal.

We can't blame Barack Obama for anything because his golf game is much better than when he was elected.

We can't blame Barack Obama for anything because his net worth has jumped since he was elected.

There are more reasons we can't blame Barack Obama for anything because it would be racist.

Obama's 2012 election theme is

“Help me finish the job”

It's pretty clear what Obama means by “finish the job.”

“We’re on the verge of a great, great depression.”

The experiment is over. It's a complete failure. It's the economy, stupid, and there's more to the economy than unions, Barry. There simply aren't enough Osama Bin Ladens to offset a depression. There aren't enough other evil despots to kill.

This country cannot survive another four years of Barack Obama.

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DrJohn has been a health care professional for more than 30 years. In addition to clinical practice he has done extensive research and has published widely with over 70 original articles and abstracts in the peer-reviewed literature. DrJohn is well known in his field and has lectured on every continent except for Antarctica. He has been married to the same wonderful lady for over 30 years and has three kids- two sons, both of whom are attorneys and one daughter on her way into the field of education. DrJohn was brought up with the concept that one can do well if one is prepared to work hard but nothing in life is guaranteed. Except for liberals being foolish.

28 Responses to “Barack Obama's political epitaph takes shape [Reader Post]”

  1. 1

    Davey

    Great article. And amen, WE CANNOT AFFORD FOUR MORE. It’s that simple. Enough said. Cain or Palin 2012 PLEASE!!!! We have to save America from the Progressives.

  2. 2

    DrJohn

    author

    Thanks, Davey. Obama is learning that the greatest economic system in the world is not compatible with his heavy handed socialistic approach to controlling business. He’s happy to have employment, as long as it’s completely on his (union) terms and happy to allow businesses to survive as long as unions dictate how they survive. He’s happy to save Detroit at a huge cost to the taxpayer.

    Why would anyone even want to hire in the toxic milieu Obama has created?

  3. 3

    MarkJ

    We could very well see one of the great ironies of American political history in 2012: Barack Obama, “Mr. Light Worker,” presiding over the worst rout of the Democrats at all levels of government since the 1920’s. After the 2008 elections, many lefties asserted that the GOP would be reduced to a “regional party.” That obviously didn’t happen, but, given current trends, it’s a very real possibility for the Donks next year. I suspect all the remaining lucid Democrats are nervously considering the likelihood that after November 2012, their party strongholds will be confined to economic basket cases like California and Illinois and some quasi-Soviet municipal kleptocracies like Chicago, Detroit, and San Francisco.

    Sweeeeeeeeet.

  4. 4

    The Original

    We need to nominate a truly electable candidate. Who would that be, though? It has t be someone who is not polarizing because we need the independent vote to take back the WH and wrest more control in the Senate. Who would that be?

    Palin – well known, has the support from most conservatives, may not have the support of the independents
    Cain – Unknown and will not draw in the independents
    Romney – well known, but not accepted by the farther right section of the GOP, could cause the run by a third party which would hurt the GOP candidate
    Perry – well known, but as of this date still not running, has some issues that may cause the same problem with the farther right section of the GOP
    Pawlenty – well known, but not flashy enough for some people, has a good record of dealing with the far left as governor of MN, but is he electable?
    Santorum – coming on too late
    Bachman – well known, but may not be able to get enough support other than from the Tea Party
    West – so far not running
    Paul – too much of a loon, unelectable
    Others – not electable

    So, who can beat Obama?

  5. 5

    rich wheeler

    Dr. John Welcome back. Noticed you’ve been gone since OBL kill.
    Reminder You requested my profession which I provided.I asked yours.Still waiting.
    The Original #4 The conundrum.

  6. 6

    Ivan

    Another “Obama is the antichrist” and no mention of the culpability of the Republicans in this mess.

    One would think if they just beamed down from another planet that everything was fine with the economy and nation in the minutes and years preceding Obama’s inauguration.

    The willingness to suspend disbelief here among the posters at FA is breathtaking in the extreme.

    ;->

  7. 7

    Nan G

    @DrJohn: Why would anyone even want to hire in the toxic milieu Obama has created?

    Why indeed.
    I was watching the financial channels this AM before then after the number for May came out.
    Only 54 thousand jobs.

    Before Obama’s policies drove so many Americans out of bothering to even look for work, it was said that our economy had to grow by 350 thousand jobs a month just to stand still!

    Now, because so many are disheartened, that stand still spot is said to be only 250 thousand jobs a month. http://cr4re.com/charts/charts.html?Employment#category=Employment&chart=EmployPopMay2011.jpg

    This is our current jobs chart, comparing the recession Obama inherited (at week -13 on the chart).
    Note Obama’s attempt to play the numbers with the US Census hiring? It is a mere tiny blip.
    Obama’s ideas of flushing a specific economic act with taxpayer cash all chart just like this.
    You can see it in long-term home buying prices with Obama’s $8,000 buying credit(2009-12010) (Cost to taxpayers $50 Billion)
    You can see it with Obama’s Cash For Clunkers blip in car-buying. (Cost to taxpayers: $24,000 per car)

    Back to the jobs numbers.
    This chart shows that what Obama has done since taking the reins has led to the WORST jobs situation since WWII.
    Had he done the right things from day one he could have turned this sucker around by long before now.
    He owns this and people are going to make him pay for it with his job in 2012.

  8. 8

    Greg

    We’re up to our ears in debt because of 30 years of irresponsible tax cuts. Fiscal responsibility is based on one fundamental, easy-to-grasp principle: Sufficient taxes must be collected to pay the bills.

    We had 12 consecutive years of republican congressional majorities. During the final 6 there was a republican in the White House. They got their high-end tax cuts; they broadly extended their philosophy of deregulation; they populated regulatory agencies with appointees from the very industries those agencies were intended to regulate; they encouraged cheap and easy credit. It all led to an unsustainable, overheated economy–an environment where a helluva lot of money could quickly be made. And then the unsustainable part caught up with us.

    Whose fault? Why, it’s the fault of democrats! Of the poor! Of the unemployed! Of unions and of working people who expect too much! Of teachers, firemen, policement, and other such parasitic public employees!

    Right. See you at the polls in 2012.

  9. 9

    disenchanted

    @The Original:

    Palin- I would vote for her, but believe her to be unelectable. Women would not vote for her because women will vote against her because of her looks (and I am a woman so I can say that)
    Cain-an unknown but would be a great contender. however he has NO political experience yet has yards and yards of business sense
    Romney- nope not another person who wants socialized medicine. His state is in dire straits because of his program
    Perry-Nope know too much about him and his dealing with the housing market. bad bad bad
    Pawlenty – Nope . He debased ‘birthers’ calling them names and putting them down. Now he wants to embrace them? nope good and pawlenty is not for me.
    Santorum – hmm not much to say about him
    Bachman – not sure about her, and frankly my inner bell is ringing about her. don’t think I would support her
    West – a good candidate however doesn’t have a lot of experience. I am guessing the other party would bring that up right away. We were complaining that barack has never held a real job, does not have a lot of political experience yet we want to put a newbie on the firing line? Wait a while for him. He needs some seasoning.
    Paul – I think of UFOs when I think about him.

    If I could get these people to listen for a minute I would tell them to sit down, all of them, discuss who has the greatest ability to get elected. I mean be flat out honest with each other. We can’t come into the race with half the Republican party running. Our country will not be able to withstand 4 more years of what is happening now. I don’t think our country will be free if barack is re elected. I believe he will form a coup and over take this country and name himself dictator. I know it sounds crazy but this man is doing nothing and I mean nothing for this country but drag her down by her hair into the mud.

  10. 10

    rich wheeler

    Disenchanted You bad mouth Obama then bad mouth all the Repubs. At least you’re consistant. How ridiculous to NOT vote for a woman because she’s attractive.
    Greg #8 I’ ll see you at the polls in 2012 with my teacher and police officer friends.

  11. 11

    Nan G

    How many Democrats voted for John Edwards once?
    MILLIONS.
    Yet, I bet he will not be running for Obama’s spot on the 2012 ticket.
    But, gee, if you only watch the mainstream media, you’d be hard-pressed to understand why.
    LOL!
    He was just indicted.

  12. 12

    Nan G

    OK, the article is titled:
    6 Jobs Charts You Really Shouldn’t Look At

    See them all here.

    Not filled with a lot of words.
    But a few choice ones:
    The average duration of unemployment has basically shot off the charts.

    The total civilian employment-population ratio remains at multi-decade lows.

    The total number of unemployed has jumped back up.

    Manufacturing jobs haven’t been this low since the 40s.

    State and local governments continue to shed jobs
    Meanwhile, excluding the census spike, the Federal workforce is steady.

    YIKES!

  13. 13

    Greg

    re #12:

    The caption on that last chart–Meanwhile, excluding the census spike, the Federal workforce is steady–is interesting. “Steady” in what sense?

    The 1950 population of the United States was a bit less than 1/2 what it is now. The number of federal employees has actually declined since 1950 as a percentage of the total population. Had the 1950 ratio remained steady, there would have been a doubling of federal employees to 4 million. Instead, we now have less than 3 million.

  14. 14

    MataHarley

    premium_subscriber

    Federal employee brief history can be read here. King of the ever growing bureauracy was New Deal daddy, FDR. Federal employees increased to 3.5 million over his 12 years in office… most due to the increased agencies required to administer his New Deal, and WWII. It’s bounced between 2.5 and 3 million ever since. Thus the reason it was described as “steady”. Nor is it clear if the graph includes military personnel, as they are a federal employee.

    No clue why Greg wants to make it a percentage to total population. ???? Geez… why not compare your Ferrari to the spoon in your kitchen drawer, fer heavens sake… The only ratio that counts is federal government employment growth to private sector employment growth. And under this POTUS, that’s swirling down the toilet bowl.

  15. 15

    Greg

    @MataHarley, #14:

    No clue why Greg wants to make it a percentage to total population.

    That seems to be how they’re charting unemployment: as a percentage of the total population.

    I like consistency. It makes comparisons more meaningful.

    The federal workforce might have grown numerically larger over the years, but the trend is just the opposite when you look at federal workers as a percentage of the total population that government workers serve. This is true despite the greatly complexified range of services that an enormous 21st Century nation requires.

  16. 16

    Nan G

    The chart in question:
    http://static2.businessinsider.com/image/4de90e524bd7c89167090000-547/meanwhile-excluding-the-census-spike-the-federal-workforce-is-steady.jpg
    Since Obama TOOK OFFICE the number of Federal employees has remained steady: just over 2,800,000.
    The US Census hiring bump of 2010 is easy to see on that chart.
    Obama bumped us up to over 3 million 500 thousand federal employees (IF you count all the folks he kept hiring and firing and re-hiring for the Census just to make his numbers look better.)

    IF you really take a look at all six graphs you see the writer is referring to Obama’s numbers.
    The total graph just gives a larger perspective.

  17. 17

    MataHarley

    premium_subscriber

    Mata: No clue why Greg wants to make it a percentage to total population.

    Greg: That seems to be how they’re charting unemployment: as a percentage of the total population. I like consistency. It makes comparisons more meaningful

    uh… being a tad anal and inflexible, are we? sigh…

    Look, Greg. It’s a simple concept. If you are considering the growth or shrinking of employment, you compare the employed to the working age population.

    If you are considering the growth of a particular employment sector… i.e. private vs public, you compare those two.

    If you wanted to evaluate the growth of Walmart employees over time, do you compare that to the population at large… like duh, aren’t they serving the needs of more people? Or do you compare it to the growth of a competitive company of that size, like Target?

    Do they compare the growth of the manufacturing or farm sector to total population? Or do they balance that increase/decrease against the growth or loss of other employment industry sectors?

    You may like consistency… unfortunately that means in every instance, you’ll continue to compare your Ferrari to a spoon in your kitchen drawer. Hey, to the most base of thinkers, they are alike. They both are made of metal.

  18. 18

    Hard Right

    Jeez. Another whiney post from Ivan the liberal. Wahhhhhh! You aren’t attacking the GOP! Wahhhh!
    We’ve been over this with you many times. We’ve ripped them plenty and will continue to do so. The only one suffering from denial (or dementia) is you.

  19. 19

    anticsrocks

    @Greggie: Ah yes, the whining, sniveling moonbat, eternally jealous of them “evil” rich folks raises his ugly head once again…

    Sufficient taxes must be collected to pay the bills.

    For the one millionth time –

    WE DON’T HAVE A REVENUE PROBLEM IN AMERICA! WE HAVE A SPENDING PROBLEM!!!!

    When you spend more than you make, you go bankrupt.

    How hard is THAT for YOU to grasp, Greggie??
    .
    .

  20. 20

    DrJohn

    author

    @Greg:

    Whose fault? Why, it’s the fault of democrats! Of the poor! Of the unemployed! Of unions and of working people who expect too much! Of teachers, firemen, policement, and other such parasitic public employees!

    Since when is it the business of federal government to pay these employees?

  21. 21

    Nan G

    Obama may have inadvertently done a great thing!
    He brought this whole UN/”Palestine”/Israel – thing to a head.
    So, here’s the most recent unintended consequence of his action:

    House Resolution:
    Stop U.S. Funds
    to U.N. General Assembly
    If
    Palestinian State Is Recognized

    Read More.

  22. 22

    Ivan

    @Hard Right:

    Jeez. Another whiney post from Ivan the liberal. Wahhhhhh! You aren’t attacking the GOP! Wahhhh!

    A true “conservative” would be apoplectic over the Republican leadership’s collusion with the Democrats and Obama on the majority of issues facing our nation.

    You, HR, seem hell-bent-for-leather to defend the indefensible actions of the Republicans in their quest to dramatically expand government! Why is that?

    We’ve been over this with you many times. We’ve ripped them plenty and will continue to do so

    .

    I don’t see that here or anywhere in the RW environment on the net. A sad case of tokenism once in a while, but it’s about 90 to 95% bashing of the moron Obama. Yes, Obama’s a sad-sack retard, but the real outrage-which you and the rest seem to miss-is the BETRAYAL of our principles by the very people we elected in November.

    Here, let me put it to you in a manner you’ll understand: The knife in the front is preferable to the knife in the back.

    Get it?

    The only one suffering from denial (or dementia) is you.

    Typical leftist. You and Mata reserve the right to engage in personal attacks -are you paying attention, Curt- yet if I defend myself in a similar manner Curt blows up and says I start it.

    Same bullshit, different day.

  23. 23

    Greg

    @anticsrocks, #19:

    Ah yes, the whining, sniveling moonbat, eternally jealous of them “evil” rich folks raises his ugly head once again…

    For the one millionth time –

    WE DON’T HAVE A REVENUE PROBLEM IN AMERICA! WE HAVE A SPENDING PROBLEM!!!!

    When you spend more than you make, you go bankrupt.

    How hard is THAT for YOU to grasp, Greggie??

    I have no problem grasping the obvious fact that MONEY COMING IN and MONEY GOING OUT are BOTH relevant issues when it comes to balancing a budget.

    Republicans seem to have had comprehension problems regarding that point for the past 30 years. Nor do they get it yet, if their demands for additional high-end tax cuts on top of a permanent extension of the already-irresponsible Bush tax cuts are any indication.

    My thoughts about this are narrowing down to the possibility they might be either:

    (A) genuinely stupid–which I’ve generally tended to doubt; or

    (B) greedy, and under the seriously mistaken impression that everyone else is stupid.

    Their recent virtually unanimous support for a bill that would cut high-end taxes while simultaneously eliminating one of the most widely-supported progressive entitlement programs in favor of a bogus voucher system does seem to suggest that I might want to reevaluate my previous doubts concerning Option A. That amazing miscalculation will likely cost them the presidency in 2012, and quite possibly their current House majority.

  24. 25

    anticsrocks

    @Greggie: Your class warfare and petty jealousy will only score you points with the liberal moonbats, not here.

    You have been schooled time and again on what a responsible federal budget needs to look like, yet you fall back on your wealth redistribution horse shit.

    You are a tired old record player that is stuck.

  25. 26

    Nan G

    This interactive graph allows you to examine where our economy is losing jobs.

    As you scan through the ”supersectors,” you plainly see how badly manufacturing and also construction are doing.
    Education, mostly gov’t hires, is going great guns!
    Government is flat.

    Next look at the Unemployment by Sector section on this page.

    Construction unemployment is over 16%.
    Manufacturing is at 9.6%.
    The nation average is 9.1%.
    BUT government workers are only at 3.9%

    Let’s keep having TEA Parties and back whoever the Republicans put up.
    Obama is only interested in protecting his own.
    If we get away from this ”redistributionism” and back to rewarding hard work we could lift everybody out of the hole.

  26. 27

    DrJohn

    author

    @Ivan:

    One would think if they just beamed down from another planet that everything was fine with the economy and nation in the minutes and years preceding Obama’s inauguration.

    Obama had all the answers before he got elected. He knew it all. We were promised that if his $850 billion stimulus crappage passed unemployment would remain below 8%!

  27. 28

    anticsrocks

    @DrJohn: And we were promised that it would create those jobs nearly instantaneously, as well.

    “Most of the money we’re investing as part of this plan will get out the door immediately and go directly to job-creation, generating or saving three to four million new jobs.” – Source

    Still waiting, Barry…