Desperately Avoiding Obamanomics and Obamacare; Mitt Romney Can't Let Barack Obama Get Away with It

The Washington Times (Washington, DC), May 9, 2012 | Go to article overview

Desperately Avoiding Obamanomics and Obamacare; Mitt Romney Can't Let Barack Obama Get Away with It


Byline: Dr. Milton R. Wolf, SPECIAL TO THE WASHINGTON TIMES

The intertwined strands of evil DNA - Obamanomics and Obamacare - will determine the outcome of the 2012 election, and Barack Obama knows it. That's why he desperately wants to talk about something else. Anything else. A failed stimulus. Shovel-ready jobs that even President Obama later admitted don't exist. Auto takeovers. Bank bailouts. Mythical green jobs. And a historic American credit downgrade. Obamanomics has become the science of downward-sloping graphs.

Officially, America is in the third year of recovery from the Great Recession, but try convincing voters of that. The average unemployment rate in Mr. Obama's first three years was 9.3 percent. Surely, somehow that must be the fault of President George W. Bush, whom Democrats mocked in 2004 as delivering a jobless recovery even though the average unemployment rate in his eight years was 5.3 percent.

The real unemployment rate, when you include the underemployed and those who've simply given up looking for jobs that just aren't there, is almost 15 percent. Since Obamanomics was unleashed - increased taxes, increased regulations, wildly increased spending and weak-dollar monetary policy - a million fewer jobs exist in America, median household income has dropped nearly 10 percent, housing prices have hit an almost 10-year low, gas prices have doubled, a record number of Americans are on food stamps, and the federal debt races toward $16 trillion (around $140,000 per taxpayer).

The only way out of this abyss is, of course, private-sector economic growth. In the aftermath of the recession of the early 1980s, for example, President Reagan's economic strategy was exactly the opposite of Mr. Obama's: lower taxes, lower spending as a percentage of gross domestic product (GDP), reduced regulations and strong-dollar monetary policy. That produced an average GDP growth rate of 7.1 percent. Now, three years into Obamanomics, America's GDP growth rate has slowed to a crawl: 2.2 percent.

The administration would like you to think we've turned the corner, but calling our current economic status a recovery is like calling the product of a Kim Kardashian wedding a marriage. Technically, it meets the definition, but, come on, nobody's buying it.

As if the quagmire that is Obamanomics weren't enough, the president dropped an anchor that not only sabotages his own recovery but threatens our nation's long-term economic survival: Obamacare.

So thoroughly disastrous is Mr. Obama's signature accomplishment that many Democrats are openly hopeful that the Supreme Court will rule Obamacare unconstitutional so it becomes less of an issue in the presidential election. …

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