Home > Man-Made Disasters > Obamageddon: Why the U.S. Economy Is the Titanic Headed for the Iceberg

Obamageddon: Why the U.S. Economy Is the Titanic Headed for the Iceberg


By Wayne Allyn Root – “America is in shambles from sea to shining sea. Unemployment is at Great Depression levels. Real Estate is collapsing. The stock market is crumbling. Retail sales are vanishing. Consumer confidence is plummeting. Inflation is skyrocketing (on the products that matter- energy and food prices). And of course, our U.S. Triple A credit rating is gone for the first time in history.

America is staring at economic disaster- Obamageddon. We are the Titanic, headed straight for the iceberg. Even delusional 500 point up days on Wall Street will not change the frightening long term picture. The iceberg is straight ahead.

Obama and his socialist cabal have channeled Hoover and FDR, who turned an ordinary bust into The Great Depression with a toxic strategy of more government, more spending, more debt, more entitlements, more rules and regulations strangling business, higher minimum wages, more power to unions, higher taxes, more printing of money by Fed, and trade tariffs. This is the Obama blueprint squared.

Here’s where the story gets downright frightening. This time the results are going to be dramatically worse than 1929. This time we are facing The Greatest Depression ever. Obamageddon.

Why? Because The Great Depression had NONE of problems and obligations we are now facing.

In 1929 America was not $100 trillion in debt and unfunded liabilities.

In 1929, most of our states were not bankrupt, insolvent and dependent on the federal government to survive. Entering the last Great Depression, California was not imitating Greece.

In 1929, we had far fewer government employees living off taxpayers. Today there are over 21 million federal, state and local government employees. Today 1 out of 5 federal employees earn over $100,000. 77,000 federal employees earn more than the Governors of their states. Government employees retire at age 50 with $100,000 pensions for life. The postal service – without competition- loses $8 billion annually. Protected by their unions and the politicians they elect, government employees are bankrupting America.

In 1929, Social Security, Medicare, and Medicaid didn’t exist. The federal government had no such obligations threatening to consume the entire federal budget within a few years.” Read more.

Categories: Man-Made Disasters
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